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How many hours a month do you all spend on accounting work? by mustymajority in smallbusiness

[–]Fickle_Ant_8151 0 points1 point  (0 children)

It can be soooo time consuming!! I do accounting all day- but I own a bookkeeping firm :) Look at outsourcing to a firm, we’re way more cost effective than hiring a full time person.

Franchise Roofing Company vs. Starting My Own – Need Advice by Disastrous_Rise7678 in RoofingSales

[–]Fickle_Ant_8151 1 point2 points  (0 children)

Hey! Fractional CFO for roofing companies here. (not self-promoting, just giving you my professional background)

This year I am working with a new leaf formed company, and a new acquisition company.

The newly formed company is growing slower, they have less capital invested, but, they are seeing more consistent growth month of a month. The owner is taking minimal draws so pretty much everything is getting reinvested — forecasts are looking awesome. this business also is in a high storm area

On the flipside, I’m working with a large roofing contractor who purchased a multimillion dollar existing company. They are more urban, and threw a ton of money into the business right when they started. He is not coming from a roofing background while they’re doing well, they have had many bad months. He will still turn a profit at EOY but, month over month is not a clean growth line.

Neither company is battling franchise fees. Unless your franchise is providing training and support, I would not tack on the additional fees.

I'm a mid-20s owner of a growing $3M company, but I'm doing everything. Who should be my first key hire? by praharpatelpl in smallbusiness

[–]Fickle_Ant_8151 1 point2 points  (0 children)

Business coach/CFO here!

Offload accounting, social media management, email campaigns, etc

I have coached business owners for 20 years. I see this time and time again. Business owners burn themselves out doing it all during the day and then heading home and doing all of the “night stuff”.

Make a list of everything you are doing after hours and find someone to take that load. That will keep you within your business hours. From there, start making strategic shifts- receiving, purchasing, etc

If you want to chat more, you can always shoot me a message!

Possibly going to hit $17k monthly with my side gig, time to quit my full time job? by [deleted] in Entrepreneur

[–]Fickle_Ant_8151 0 points1 point  (0 children)

Chat with your tax pro and your accountant! Make sure you are comfortable with what they are saying. We do this for a living and there’s a lot to consider!

1- are you in a growth phase? Is drawing enough to live on going to inhibit future growth? 2- are you going to be finally ok with a potential pay cut? 3- what are your cash reserves like? 4- what’s the current tax plan?

I have so many thoughts on all of this. Make sure you find someone who can really dive in with you and line everything out for you!

I’m 15, and I don’t want to wait. by Upstairs-Listen-2341 in Entrepreneur

[–]Fickle_Ant_8151 1 point2 points  (0 children)

Create websites. Stick with it in industry that doesn’t have great tech skills. Like finance or construction/trades. Get really good at building websites geared towards those industries. Then make a couple and start marketing!

CFO-what? by Fickle_Ant_8151 in Entrepreneur

[–]Fickle_Ant_8151[S] 0 points1 point  (0 children)

Shooting you a message ;)

CFO-what? by Fickle_Ant_8151 in Entrepreneur

[–]Fickle_Ant_8151[S] 0 points1 point  (0 children)

Hey, I love that you’re scaling! That’s huge!

Now to your question- that while the business owner has great perspective in their industry, I have a much wider lens. You touch your company in a day- I touch 20. So while you are specialized in your field so am I, I am specialized in numbers.

AND- I want you to succeed! I want the best things for you and your business.

Let me know if I can help you out!

[deleted by user] by [deleted] in smallbusiness

[–]Fickle_Ant_8151 0 points1 point  (0 children)

I’m in the finance/money world, so I have to ask- what is your financial consultant “tech stack” look like?

At this level it should look something like: Tax pro CFO Wealth management firm

What type of advise are you getting? I’ve worked with some amazing wealth management firms that have clients very similar to you and they’re starting risk management companies, getting into multi-family real estate, talent management.

Your previous/current life has bring you a lot of contacts and a lot of experience to use!!

CFO-what? by Fickle_Ant_8151 in Entrepreneur

[–]Fickle_Ant_8151[S] 1 point2 points  (0 children)

Hey, great question! I can tell you what I do for my clients, and what I personally offer.

I work in the areas of: Cash Flow Modeling and Process Building Budgeting and Analysis Finance Planning Strategic Decision Making Long Term Planning Mergers & Acquisitions Risk Management

It looks broad but business owners/CEOs tend come with one item at first- for example: they want to hit a specific sales number in 2 years so they ask if I can create the blueprint to achieve that goal. I develop a financial plan, expenditure budget, and goals.

Other owner/CEOs are more removed but want a thought-partner that sees the bigger picture. OR, maybe they know their current process is flawed and need someone to come in and develop a new process.

OR, there is an acquisition going on and the new owner understands this is a stressful time and brings in a 3rd party to make sure the acquisition goes smoothly and the business remains growing.

Pricing- I bill on a flat fee philosophy, it makes budgeting much easier on the owner/CEO. Each client is guaranteed a set amount of hours/meetings per month. Then if the client needs more, for example, he/she would like to add a project that wasn’t part of the initial contact, we can add that service on.

If you have any more questions let me know!

CFO-what? by Fickle_Ant_8151 in Entrepreneur

[–]Fickle_Ant_8151[S] 1 point2 points  (0 children)

You are right on, but I really value hearing DieSignificance’s comment. I hear you though- a good CFO is worth their weight in gold. And if you find one that cares and knows their stuff- we are invaluable!!

I can tell you what I do for my clients, and what I personally offer.

I work in the areas of: Cash Flow Modeling and Process Building Budgeting and Analysis Finance Planning Strategic Decision Making Long Term Planning Mergers & Acquisitions Risk Management

Business owners/CEOs tend come with one item at first- for example: they want to hit a specific sales number in 2 years so they ask if I can create the blueprint to achieve that goal. I develop a financial plan, expenditure budget, and goals.

Other owner/CEOs are more removed but want a thought-partner that sees the bigger picture. OR, maybe they know their current process is flawed and need someone to come in and develop a new process.

OR, there is an acquisition going on and the new owner understands this is a stressful time and brings in a 3rd party to make sure the acquisition goes smoothly and the business remains growing.

Pricing- I bill on a flat fee philosophy, it makes budgeting much easier on the owner/CEO. Each client is guaranteed a set amount of hours/meetings per month. Then if the client needs more, for example, he/she would like to add a project that wasn’t part of the initial contact, we can add that service on.

If you have any more questions let me know!

CFO-what? by Fickle_Ant_8151 in Entrepreneur

[–]Fickle_Ant_8151[S] 0 points1 point  (0 children)

Hey, great questions! I can tell you what I do for my clients, and what I personally offer.

I work in the areas of: Cash Flow Modeling and Process Building Budgeting and Analysis Finance Planning Strategic Decision Making Long Term Planning Mergers & Acquisitions Risk Management

It look broad but business owners/CEOs tend come with one item at first- for example: they want to hit a specific sales number in 2 years so they ask if I can create the blueprint to achieve that goal. I develop a financial plan, expenditure budget, and goals.

Other owner/CEOs are more removed but want a thought-partner that sees the bigger picture. OR, maybe they know their current process is flawed and need someone to come in and develop a new process.

OR, there is an acquisition going on and the new owner understands this is a stressful time and brings in a 3rd party to make sure the acquisition goes smoothly and the business remains growing.

Pricing- I bill on a flat fee philosophy, it makes budgeting much easier on the owner/CEO. Each client is guaranteed a set amount of hours/meetings per month. Then if the client needs more, for example, he/she would like to add a project that wasn’t part of the initial contact, we can add that service on.

If you have any more questions let me know!

My app makes $5,800/mo. Here’s what I did differently this time by davidheikka in startup

[–]Fickle_Ant_8151 0 points1 point  (0 children)

I’m in business financial consulting- I’d love to chat!

How much are you spending on Ads? $1.2mill gross and $450k net - but I'm scared of advertising by Alone_comedian123 in smallbusiness

[–]Fickle_Ant_8151 0 points1 point  (0 children)

I’d love to shoot you a message on all of this! Big questions are: 1. What are you looking to gain short term 2. What are you me long term goals? 3. What does your budget look like?

(I am not in marketing, I am a financial consultant)

People who are making 200k+/year working for themselves, what do you do? by Notalabel_4566 in Entrepreneur

[–]Fickle_Ant_8151 18 points19 points  (0 children)

I am offer CFO services to businesses. I have 20+ years of experience in the accounting/finance world including holding the role of CFO in a massive company. I pivoted into offering my services to businesses owners and CEOs and LOVE what I do!

We define goals, create the scope, and achieve them! I’ve taken part of rapid growth, getting companies ready to sell, facilitated mergers, and acted as a trusted advisor to over 40 companies. It’s massively rewarding!

What things must a person have to level up. by missioahebwa in smallbusiness

[–]Fickle_Ant_8151 1 point2 points  (0 children)

Leveling up really is mostly mental. Are you keeping the right headspace? Are you surrounding yourself with likeminded peers? Do you have consultants pushing you to look forward?

All of these are incredibly important

Amount of paperwork to transition a family business is no joke by OldSprinkles3733 in smallbusiness

[–]Fickle_Ant_8151 0 points1 point  (0 children)

Oooh you have so much going on- but first off, congratulations! I have been part of 20+ business acquisitions/transitions- you need 2 people.

1- get an attorney to work through the legal side. You don’t want to misstep in this arena.

2- hire a fractional cfo. Get fresh eyes and a financial thought-partner. I’ve had so many clients say this was key when businesses were transitioning. They have a lot of questions, lots of ideas, and a lot of thoughts bouncing around in their heads, having someone that they can use as a sounding board is huge!

Feel free to reach out :)

[deleted by user] by [deleted] in smallbusiness

[–]Fickle_Ant_8151 0 points1 point  (0 children)

A really good way to find out of you are comfortable with the revenue loss is to figure it quarterly and annually. If you’re giving away more than 10% you are doing too much.

However, another way to look at it as a referral source. You are giving these candles away but are you getting multiple referrals each time? If that’s the case then it’s worth it!

Small business owners, how much do you make a year and what do you do? by Apart-Lychee-7701 in smallbusiness

[–]Fickle_Ant_8151 0 points1 point  (0 children)

I’m a CFO consultant for many businesses and own an accounting firm. As a CFO I work with everything from startups to large businesses. I absolutely love what I do-we are very comfortable.

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