Keep What You Earn Secrets to Find a Stellar CFO with Jim Emerich
In this episode of "Keep What You Earn," Shannon is joined by Jim Emerich, CEO of Backbone CFO, as they delve into the secrets to finding a stellar CFO for your business. They discuss the importance of hiring a CFO at the right time, the qualities to look for in a fractional CFO, and the value of having a strong professional network to support your business growth. Jim shares practical tips for evaluating and connecting with the right financial professionals. This episode offers actionable insights and valuable resources for entrepreneurs looking to make informed decisions about their financial support team. Join us as we learn from Jim Emerich about the essential role of a CFO in business growth and success.
Jim has held positions such as Chief Financial Officer and Vice President of Finance, has been exposed to financing efforts up to $100 million dollars, mergers and acquisitions, multi-year strategic planning, and more. Despite a decade of success in corporate finance, when he fell asleep at work, he knew he didn't want the mundane and decided to embark on his entrepreneurial journey. He's a husband, father of five, and the founder of Backbone CFO which he launched in 2020 with the aim of helping business owners align with the right person and strategy to find financial clarity, time, and fulfillment.
LinkedIn: https://www.linkedin.com/in/jamesemerich/ Website: https://www.backbonecfo.com
What you'll hear in this episode:
05:18 Consider fractional CFO once revenue exceeds seven figures.
07:55 Fractional CFO not just bookkeeper, CPA, tax pro.
09:16 Podcast emphasizes growth, financial management, and advisors.
13:59 Recommend understanding theory of value flow in services.
16:31 Outsourcing builds value and client reliance.
19:49 Entrepreneurs vetting, connecting based on shared values.
If you like this episode, check out:
How to Create More Accurate Forecasts
Why Building a Sellable Business Should Be Your Goal
How to Know if a CFO Power Session is for You
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The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.