Every growing business owner needs a money team if they plan to achieve their financial goals and scale smartly. This episode explores the essential roles within a money team: the bookkeeper, CPA accountant, financial advisor, and CFO. Through the lens of a client story, Danielle Hayden explores how these roles work together to manage the financial health and growth of a business. She also discusses when businesses should hire a CFO, and how Kickstart Accounting Inc. provides CFO services to clients. Tune in for practical tips and resources for building your money team!

 

Key Takeaways:

• Growing businesses need a comprehensive financial team, including a bookkeeper, CPA accountant, financial advisor, and CFO (or business coach). This team can be assembled over time as a business grows.

• Every member of a money team works together to optimize the financial health and strategic planning of a business, from bookkeeping and growth strategy to tax compliance.

• Hiring a CPA for tax services helps ensure accuracy, compliance and optimization of tax benefits, which becomes increasingly important as a business grows.

• Financial advisors play a critical role in wealth management and retirement planning, helping business owners maximize and protect their profits for financial security.

• While not every business is ready to hire a CFO, business owners can independently adopt CFO strategies to reach their personal and financial goals.

 

Topics Discussed:

The four key players on a money team (2:13)

The fundamental role of bookkeeping (2:25)

Tax prep and strategy with a CPA (4:52)

Personal finance planning with a financial advisor (6:58)

How CFOs help businesses reach their goals (9:27)

Kickstart Account Inc.’s CFO framework: a client success story (12:04)

Deciding when to hire a CFO (15:31)

How to leverage CFO strategies in your business (16:23)

This week’s homework: applying Danielle’s insights (18:40)

 

Resources:

Learn more about Kickstart Accounting Inc.’s CFO Services: https://kickstartaccountinginc.com/CFO

Learn more about KSA Tax Partners:  https://ksataxpartners.com/

Download the Financial Goal-Setting Worksheet: https://kickstartaccountinginc.com/goal/

Check out the Kickstart Accounting Inc. Build Your Own Budget Course for Entrepreneurs:

https://www.e-suite.co/BYOB

 

Connect with Kickstart Accounting Inc.:

Instagram | https://www.instagram.com/Kickstartaccounting

YouTube |  https://www.youtube.com/@businessbythebooks

Facebook | https://www.facebook.com/kickstartaccountinginc