degreed accountant with over 20 years of GL but no CPA, do I have to be certified?
@TheCFOreport2 күн бұрын
@@richardlebreton6690 no. Most full time CFOs don’t even hold a CPA license.
@prathameshARE2 күн бұрын
❤❤❤
@TheCFOreport2 күн бұрын
@@prathameshARE ❤️❤️❤️
@richardlebreton66903 күн бұрын
this is where being a GL (manageral) accountant for 20+ years worked against me. I thought these were basic services to perform as a freelance bookkeeper.
@josesantana429512 күн бұрын
Amazing video!
@TheCFOreport12 күн бұрын
@@josesantana4295 glad it was helpful Jose
@mariac44712 күн бұрын
Great content! Thanks a lot! Regarding getting clients who pays 7K per month, its possible to get them based outside of US? Im a fractional cfo based in Spain, at the moment I'm getting my clients mainly from Upwork.
@TheCFOreport12 күн бұрын
I haven't seen a ton of people getting many higher caliber clients on UpWork in the past few years. That's just my anecdotal experience though.
@mariac44712 күн бұрын
@TheCFOreport I see, so do you have the link of your marketing strategy mentioned in the video?
@buttonenfuego12 күн бұрын
I'm getting clients that are tired of CFO services that are templates. They are upset with customization. So many Fractionals and online companies use the temples for streamlining and scaling. Good in theory, but I'm finding my clients all come to me for customized services. Which yes, is a lot of work. I'm trying to find the balance
@mariac44712 күн бұрын
where do you get the clients mainly? Upwork?
@TheCFOreport12 күн бұрын
No shortage of ways to run a firm. You've got to figure out what works best for you and the audience you're trying to serve... One thought though: there's a difference between just delivering templated reports (low value; I do not recommend) and standardized services with tailored insights and perspectives (higher value; this is what works best for my firm).
@mattpiccirillo569713 күн бұрын
Great video this week for anyone in the early stages of their CFO firm journey! Can’t wait to check out the free resources!
@TheCFOreport13 күн бұрын
@@mattpiccirillo5697 yessir!
@alphatech103115 күн бұрын
Hi Michael, I’m an MBA (just a state university) with a background in wealth management for institutions. Would a mid career MBA with a CFP and CPA be a good fit as a fractional CFO to advise in strategy for professional services firms? ( i work with dentists, lawyers, doctors, accountants)Apart from primary reporting and tax, what would these clients ask of me that they don’t already as their financial advisor? I am considering a career shift and doing a part time CFO gig on the side, yes for “not get-rich” pay. I have my main gig for my six figures and benefits. I hope the firm I contract with would cover the marketing and my payroll. I am targeting $40 an hour or so to test the waters and ensure I deliver value. Please advise thnx.
@theselftaughtcfo15 күн бұрын
All of this! My bold baby step was changing my title on LinkedIn. Literally did this last week and then found your channel! I'm in binge mode now.
@TheCFOreport15 күн бұрын
@@theselftaughtcfo Glad you’re loving them Emily! I’d love for you to check out my Inner Circle program. This month I’m doing a live training on monthly client reporting. If you’re interested, use this link to try the first month for just $1 😁 www.thecfoaccelerator.com/offers/F3Mgh6mq?coupon_code=INNERCIRCLE1
@theselftaughtcfo15 күн бұрын
@TheCFOreport thank you so much, I'll see you soon!
@TheCFOreport15 күн бұрын
@@theselftaughtcfo we will be on the lookout for you!
@theselftaughtcfo19 күн бұрын
Every.Single.Word spoke to ME!!! All of this is me! Excellent talk!
@theselftaughtcfo19 күн бұрын
This was amazing! So glad I found you!
@TheCFOreport19 күн бұрын
@@theselftaughtcfo me too!
@theselftaughtcfo19 күн бұрын
@@TheCFOreportI think I found my rabbit, ill be reaching out soon🥹
@collinstariq20 күн бұрын
So good! Fear is the thief of our dreams
@TheCFOreport20 күн бұрын
@@collinstariq I love that quote
@HighPerCapitaExpertise26 күн бұрын
Thanks!! We are strategically located in Quito - Ecuador and have available high qualified financial professionals!
@KurtisHanni27 күн бұрын
Wow, what'd Gary do to Michael!?!
@TheCFOreport27 күн бұрын
@@KurtisHanni it’s what Gary DIDN’T do.
@netinterested863427 күн бұрын
bye Gary
@TheCFOreport27 күн бұрын
@@netinterested8634 Gary gone.
@ValeHow-de5ts28 күн бұрын
Fab explanation, many thanks
@TheCFOreport28 күн бұрын
@@ValeHow-de5ts glad it was helpful!
@nickestrada401Ай бұрын
Could you make a video highlighting how a fractional CFO can benefit a commercial lender? Appreciate all your work
@TheCFOreportАй бұрын
@@nickestrada401 added it to the list!
@tikon6586Ай бұрын
This was a great video. I had my second CFO call today, and the client was totally disengaged. I thought I explained everything properly, talked about cash flow projection, how it’s going to help the business growth decision making. But they were still confused as to the difference of accounting/bookkeeping vs fractional CFO services
@StevenKaderАй бұрын
Is it possible to be a part time CFO working remote? Winding down from a corporate job and would like to work less hours from anywhere. Thx.
@TheCFOreportАй бұрын
@@StevenKader great question. The vast majority of fractional CFOs only do remote work - my firm included!
@lekeshahill2477Ай бұрын
When you DM people on LinkedIn, do you have a script?
@TheCFOreportАй бұрын
@@lekeshahill2477 we are covering that next week at the prospecting workshop!
@JoshuaStone-n7dАй бұрын
Hey Michael! Thanks for all the great content! Question, toward the end, you talk about 70-90% margin and the difference being your salary in an S Corp. If that’s the case, that is anyway owner compensation so in essence, the after tax margin to the owner is the same, close to 90%, correct? Thanks for clarifying.
@lekeshahill2477Ай бұрын
With the coffee chat, do you send them a gift card to get coffee?
@TheCFOreportАй бұрын
@@lekeshahill2477 I don’t
@lunamorris2091Ай бұрын
I love this video. The thing I like in your videos is that everything is in a detailed and learning manner.
@TheCFOreportАй бұрын
@@lunamorris2091 I’m happy you’re finding them helpful!
@mattpiccirillo5697Ай бұрын
Fantastic interview! Reminds you how much work is required to be successful, but helps you get there more efficiently. I met Jay at the CFO Accelerator this year, really great guy (Cam too).
@TheCFOreportАй бұрын
@@mattpiccirillo5697 glad you enjoyed Matt. And yes, both great guys!
@futureBLUАй бұрын
Watching this has been an excellent use of my time. 🙌
@TheCFOreportАй бұрын
@@futureBLU thanks!
@Jaktgbabu2 ай бұрын
Thanks well informed ❤
@Themodestceo2 ай бұрын
What are you saying when you message them?
@TheCFOreport2 ай бұрын
Let’s discuss on our call later!
@josemateuslopes82412 ай бұрын
From now on I'll follow you. Very amazing. Thank you
@TheCFOreport2 ай бұрын
Happy to help!
@burlyn882 ай бұрын
Perhaps dumb question here...but I always assumed Profit was after ALL expenses. How do I know what other sorts of things fall under the COGS category vs Overhead?
@TheCFOreport2 ай бұрын
COGS are the expenses directly related to making your product or delivering your service. Example: Let’s say you sell dry erase markers. Your COGS would include the marker shell, the felt inside the marker, the lid, the box, etc. Let’s say all of your COGS total up to $1.25. You sell your marker for $2 then your gross profit is $0.75. Example 2: If you sell plumbing services, your COS would include the payroll your company paid the plumber that works for your company. So if you pay them $30/hr and they spend 3 hours at the job your COS would be $90. Let’s say you bill $100. Your revenue for that job would be $300. Your COS is $90 and therefore your gross profit is $210. These are two very basic examples but I hope it helps!
@leebstill2 ай бұрын
tax plan iq is wayyyyyyyy better than corvee, just fyi
@TheCFOreport2 ай бұрын
Corvee was more our jam but mad respect for those that prefer Tax Plan IQ!
@crazysleepintime2 ай бұрын
I love, love, LOVE what you said about being aware that when you are top dog you need to be careful about what you say otherwise you start a "wake". Coming from the corporate world, it seemed like our execs didn't recognize this and it would disrupt so make workflows.
@TheCFOreport2 ай бұрын
It’s an easy trap to fall into if you aren’t self aware.
@leebstill2 ай бұрын
Im about to binge tf out of your channel I think i actually finally might have found my coach
@TheCFOreport2 ай бұрын
Let’s go! 😂
@HS-PGA2 ай бұрын
I found unless a cfo or accountant has actually run a business they have no idea how to advise clients , they only seem to know only how to prepare financial statements .
@TheCFOreport2 ай бұрын
That’s true a fairly high percentage of the time (but not always). That’s why all of the CFOs in my firm have also run businesses of their own and most have also sat in the C Suite at other businesses as well.
@HS-PGA2 ай бұрын
@@TheCFOreport Thanks Michael . How can I DM you to chat about your inner circle program ? I’ve got a CFO firm for last 12 years.
@TheCFOreport2 ай бұрын
@@HS-PGA DM me on LinkedIn! www.linkedin.com/in/iammichaelking
@HS-PGA2 ай бұрын
@@TheCFOreport done ✅
@GPLundy2 ай бұрын
Good job
@TheCFOreport2 ай бұрын
Thanks!
@Any-Day-DigitalMarketingAgency2 ай бұрын
Sir, I sincerely apologize if my message offended you. My intention was not to waste your time or cause any discomfort. You don't need to hire me, but I can assure you that reading the entire message can help you take your Channel one step further. If you are unfamiliar with this topic, don't worry-it's normal. Please search Google for "What is KZfaq video SEO," "Video SEO benefits," and "What is VidIQ?" Once you find the answers, install VidIQ, check your video SEO score, and compare it with the audit report I provided.
@c.bonabycpa16132 ай бұрын
Thank you for this video. Great information!
@TheCFOreport2 ай бұрын
Glad it was helpful!
@yanivpasco2 ай бұрын
Awesome value 🎉
@TheCFOreport2 ай бұрын
Thank you!
@MsSheilaC2 ай бұрын
Im happy to hear your honesty about the mental clarity piece. I’m three months in and I feel like I’m still slogging through, but I have found other videos even if rare, that say the same thing so gives me hope.
@TheCFOreport2 ай бұрын
Stay with it Sheila. It’s worth it. If you’re able to throw in some regular exercise that may help as well.
@billrobinson57612 ай бұрын
If you're using FinancialCents, I'm not clear on why you need ClickUp? We use Fathom for advanced KPI and financial reporting and cash flow mgmt/forecasting (vs your Google sheets CFO reporting). Thank you for the video share - overall great recs.
@yanivpasco2 ай бұрын
Great discussion - Love it!
@TheCFOreport2 ай бұрын
Glad it was helpful!
@buttonenfuego2 ай бұрын
I'm curious on the Daily Ritual Shutdown
@denisegurule14372 ай бұрын
Totally enjoying your videos. I know my niche, but don't know how to start as a side hustle and grow into full time.
@TheCFOreport2 ай бұрын
Check out this video Denise: kzfaq.info/get/bejne/erl2qMSVmMCupo0.htmlsi=WWG_EcRQXnzieR0f
@netinterested86343 ай бұрын
Great advice, thank you Michael!
@kasulerremie60573 ай бұрын
This is great thank you
@c.bonabycpa16133 ай бұрын
This was a great interview!
@user-cj5go6oh1x3 ай бұрын
Great value content guys, thank you!
@TheCFOreport3 ай бұрын
Glad you enjoy it. Let us know if you have any other topics you’d like me to tackle!
@cesarp92333 ай бұрын
Thanks for this interview. Everything that was spoken about felt like it was speaking to me specifically.
@TheCFOreport3 ай бұрын
Glad it was helpful. Where are you in your journey?
@YouCant-kl8jx3 ай бұрын
what a loser
@nerf_herder903 ай бұрын
I'm a CPA who went into public accounting to own my own firm. I've been in long enough to know that the CPA Partner life isn't all it's cracked up to be. My real passion is helping business owners understand the story their numbers are telling. I only have a couple clients, is your program right for me?
@TheCFOreport3 ай бұрын
That’s exactly what we do! Email us at [email protected] or DM me on LinkedIn. I’d love to hear more and see how we might help!
@kasulerremie60573 ай бұрын
This is inspiring am starting my cfo company and your videos have helped a great deal. Thank you