This episode features Tom Schultz, author of the book "So You Want to be a Fractional CFO?". Tom shares his story of how he accidentally got into fractional CFO work in 2006 after helping sell the company he worked for. He discusses building his business through referrals from his network and eventually forming a firm called Next Gen CFO with 18 fractional CFOs. Tom provides advice on how to build a referral network and develop fractional CFO business. He also discusses how the book came to be written to help others entering this field. The book is available on Amazon and provides guidance for those considering or new to the role of fractional CFO.



Tom formed NextGen CFO in 2010 with another fractional CFO he met. They decided to combine forces to be able to handle more referrals and pass clients to each other if one was too busy. They launched with just the two of them. Another established firm was looking to enter their area, so they grew to five people to establish themselves first. Since then, they have continued growing, with 18 fractional CFOs serving around 70 clients. Forming the firm provides stability since no one person loses their whole paycheck if a client leaves, and it's less impactful than if they were solo practitioners.




https://youtu.be/NMWNlDYiPjw




Links




Join GrowCFO today



So You Want to be a Fractional CFO? On Amazon US and UK



NextGen CFO



Tom Schultz on LinkedIn



Kevin Appleby on LinkedIn




Timestamps



Introducing Tom Schultz. (0:11)



Becoming an accidental fractional CFO and managing multiple clients. (4:43)



Fractional CFO role and relationship building. (9:46)



Building a network for business development. (13:54)



Building a successful fractional CFO business. (18:16)



Fractional CFO roles and market demand. (22:39)



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