Episode 7: Key factors for Employing a Fractional CFO with Shannon Brown
“We’re always looking at ways to maximize efficiency, and also the lead time to take somebody from the outside and train them into that role, you’re going to be spending a lot of extra money versus what Shannon just said.
You’ve already got that person, just figure out who it is. Go find out who’s your social media queen on their personal side.”
- Andrea Jenson
Welcome to a brand new episode of the Cash Flow CFO Podcast. Here with me today is Shannon Brown from Centric Marketing. I’m thrilled to speak with Shannon because her firm has recently had a significant development in terms of the services, the branding, and all the excellent stuff.
An expert team may need to be outsourced or hired since organizations may not have the internal know-how or expertise to extend their operations significantly. So with that, in this episode, we tackled the advantages of hiring an expert in a certain field, may it be marketing or accounting, and the deciding element that led Centric to conclude that it was time for their organization to undergo a major branding overhaul. We also go through how their decision to have a big branding makeover influenced the transformation of their company’s vision and how hiring a Fractional CFO significantly assisted their organization’s accounting requirements.
Join us to find out more!
“I just had a conversation last Friday, with my Fractional CFO about mergers and acquisitions and it’s like, I would’ve never thought I would’ve been there, but now that I have the expertise by my side, it’s amazing.”
- Shannon Brown
Key factors for employing a Fractional CFO
Integrated and coordinated financial operations, involving accounting, financial analysis, cash flow management, budgeting, maintaining checks and balances, and matters like capital structure, investment management, and financing, are all under the CFO’s purview. Few midsize organizations may be able to pay for the privilege of a full-time CFO; thus, a fractional CFO is a practical and advised substitute for a full-time professional. According to Andrea, hiring one is like having a senior-level person by your side who can guide you through every step of the process. The benefits of hiring a part-time CFO include adding a tenured financial expert to the table for a portion of the cost of a full-time employee.
“It’s like having that senior level person, that can hold your hand and kind of walk you through what if we did this, and what if we did this?”
- Andrea Jenson
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