Welcome back to the Inner Edison Podcast! In this episode, host Ed Parcaut sits down with Sarah Webb, a fractional CFO and founder of WebbCFO.com, to explore the intricate world of small business financial management. **Timestamps:** 00:00 - Introduction 02:15 - Ed discusses challenges in the industry and the importance of the right team 06:40 - Sarah explains the fraud triangle and its impact on small businesses 11:50 - Real stories of internal financial fraud: Lessons to learn 16:30 - Niche marketing strategies for private medical practices and law offices 21:45 - The "no jerk policy": Working only with good companies 27:00 - Managing cash flow and credit terms in small businesses 34:45 - When to consider hiring a fractional CFO 39:20 - The importance of having a forward-looking CFO 42:15 - Sarah's experience with IRS issues and payroll challenges 49:00 - Outsourcing services to solve staffing issues 54:30 - Selecting the right legal entity structure 58:40 - The impact of government and politics on small businesses 1:04:10 - The role of AI in improving job efficiency 1:10:50 - Financial strategy and the role of a CFO in business growth 1:17:00 - Importance of flexibility and education in adapting to changes 1:21:30 - Final thoughts and how to contact Sarah Webb at WebbCFO.com **Key Facts:** - Financial fraud risks in small businesses and the importance of segregation of duties. - Cash flow management challenges, especially in medical practices and law offices. - The pivotal role of a fractional CFO in helping businesses strategize, forecast, and budget. - How niche marketing and a "no jerk policy" contribute to business success. - The critical role of AI in enhancing job productivity and alleviating lower-end job roles. - The importance of selecting the right legal entity structure and understanding government regulations. - How businesses can adapt to unforeseen factors such as interest rate changes and political influences. 🌐 Visit Sarah Webb's website: [WebbCFO.com](http://webbcfo.com) 📢Follow us for updates: - Website: [Ed Parcaut] - Facebook: [Ed Parcaut] - Twitter: [@parcaut] - Instagram: [@edparcaut] 💡 **Quote of the Episode:** "Flexibility, education, and seeking expert advice are paramount in navigating the evolving landscape of small business management." - Sarah Webb If you enjoyed this episode, please leave a comment and share your thoughts. Remember to like, share, and subscribe for more insightful discussions on business and finance! #InnerEdisonPodcast #FinancialStrategy #SmallBusiness #FractionalCFO #CashFlowManagement #AIInBusiness #NicheMarketing #BusinessGrowth #Podcast #SarahWebb #EdParcaut