Were Making Good Money. Im Not Sure How

Published: Jan. 23, 2024, 10 a.m.

This week, in episode 180, Jay Goltz, Jennifer Kerhin, and Liz Picarazzi discuss their efforts to get a better grasp of what drives their profits. They ask how much of their finances they should manage themselves. And how much should they rely on an accountant or a fractional CFO? When does delegation become abdication? Jennifer says she\u2019s benefitted from hiring a fractional CFO who has taken an active leadership role, including setting up a database that helps Jennifer see in real time whether the fees she\u2019s charging cover the labor she\u2019s deploying. \u201cWhatever she's charging me,\u201d says Jennifer of her CFO, \u201cit's absolutely worth it.\u201d Liz, meanwhile, thinks she should be doing more herself. And Jay says he was paying big bucks for a full-time CFO until late last year. \u201cAnd it was a complete waste of money,\u201d he says, which is why he\u2019s decided not to replace her. Plus: Liz reveals her secret strategy for marketing directly to municipal government officials, some of whom have started to use the term \u201cCitibin\u201d generically. And the owners respond to a question from the head of a cost-reduction service who wonders why she\u2019s struggling so much to get business owners to try her risk-free service.