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Two Fractional CFOs Chat: How Purpose Drives Fractional CFOs with Jim Emerich
In episode 20 of Built By Margin, Laurie Chen interviews Jim Emerich, Founder of Backbone CFO, as he reflects on the invaluable lessons learned while helping others build their enterprises and emphasizes the importance of taking risks to achieve one's own entrepreneurial dreams.
Tune in to learn about the challenges and rewards of starting a business and how Jim's experiences have shaped his approach to financial strategy.
TIMESTAMPS
[00:01:02] Entrepreneurial journey of Backbone CFO.
[00:04:24] Fractional CFO services framework.
[00:10:57] Simplifying client tech stack.
[00:13:43] Financial roadmap for business growth.
[00:17:06] Client communication frequency.
[00:20:10] Faith's impact on business.
[00:25:33] Starting a business risk.
[00:27:31] Business scaling and reinvestment.
[00:32:19] Raising the floor concept.
QUOTES
- " So we go through a particular financial control framework, we call it. So we talk about cash, profit, people, systems, and position, and we really coach our clients in those five areas of their business on a continuous basis. Now, what becomes unique is every client has their own challenges and opportunities and issues that they're solving, right? So in that way, every client. Engagement can be a little bit different because the CFO is solving different problems, helping the client tackle different opportunities, but we're using the same framework, the same process to do it." - Jim Emerich
- " And you also really have to assess what the client's needs are, right? Because, you know, most construction manufacturing companies are not very tech savvy. You know, it's very different if you're working with like a software AI company, right? They might want a little bit more sophisticated system. But like for my clients, you know, it really depends on who they are, you know, how tech savvy are they? Are they fine with just Google Sheets? Are they fine with Excel or a little bit more of a cloud FP&A system like Causal or Jirav? " - Laurie Chen
SOCIAL MEDIA LINKS
Laurie Chen
Instagram: https://www.instagram.com/lauriechencpamba/
LinkedIn: https://www.linkedin.com/in/lauriechen/
Jim Emerich
Instagram: https://www.instagram.com/backbonecfo/
LinkedIn: https://www.linkedin.com/in/jamesemerich/
WEBSITES
Built By Margin: https://www.builtbymargin.com/
Backbone CFO: https://backbonecfo.com/
View all episodes
By Laurie Chen, CPA, MBAIn episode 20 of Built By Margin, Laurie Chen interviews Jim Emerich, Founder of Backbone CFO, as he reflects on the invaluable lessons learned while helping others build their enterprises and emphasizes the importance of taking risks to achieve one's own entrepreneurial dreams.
Tune in to learn about the challenges and rewards of starting a business and how Jim's experiences have shaped his approach to financial strategy.
TIMESTAMPS
[00:01:02] Entrepreneurial journey of Backbone CFO.
[00:04:24] Fractional CFO services framework.
[00:10:57] Simplifying client tech stack.
[00:13:43] Financial roadmap for business growth.
[00:17:06] Client communication frequency.
[00:20:10] Faith's impact on business.
[00:25:33] Starting a business risk.
[00:27:31] Business scaling and reinvestment.
[00:32:19] Raising the floor concept.
QUOTES
- " So we go through a particular financial control framework, we call it. So we talk about cash, profit, people, systems, and position, and we really coach our clients in those five areas of their business on a continuous basis. Now, what becomes unique is every client has their own challenges and opportunities and issues that they're solving, right? So in that way, every client. Engagement can be a little bit different because the CFO is solving different problems, helping the client tackle different opportunities, but we're using the same framework, the same process to do it." - Jim Emerich
- " And you also really have to assess what the client's needs are, right? Because, you know, most construction manufacturing companies are not very tech savvy. You know, it's very different if you're working with like a software AI company, right? They might want a little bit more sophisticated system. But like for my clients, you know, it really depends on who they are, you know, how tech savvy are they? Are they fine with just Google Sheets? Are they fine with Excel or a little bit more of a cloud FP&A system like Causal or Jirav? " - Laurie Chen
SOCIAL MEDIA LINKS
Laurie Chen
Instagram: https://www.instagram.com/lauriechencpamba/
LinkedIn: https://www.linkedin.com/in/lauriechen/
Jim Emerich
Instagram: https://www.instagram.com/backbonecfo/
LinkedIn: https://www.linkedin.com/in/jamesemerich/
WEBSITES
Built By Margin: https://www.builtbymargin.com/
Backbone CFO: https://backbonecfo.com/