Margin CFO and Bookkeeping

Why am I so high on the burgeoning fractional model? You see them everywhere now. fCFOs, fCMOs, fCOOs, fGCs, etc., etc. There’s a simple reason. Startups desperately need the output of certain specialties/disciplines, but they don’t need them on a full-time basis. The problem is twofold. There’s typically not enough work to justify a full-time role. And even if there were, they can’t afford or attract them. The fractional model solves those problems. It provides startups with someone capable of producing the necessary output of a specialist, but in a fractional capacity, and at a fraction of the cost. Anything you’d add?

Anyone excited that it's Friday? Afraid to admit it? When I worked in corporate, I had this irrational fear that if I expressed too much enthusiasm about Friday, I might be perceived as someone who didn’t like my job or lazy. Looking back now, I see how silly that was. I absolutely love what I do now. Building Margin is one of the most invigorating journeys of my life, and I look forward to doing the work each day. But… I LOVE Fridays. I don’t care how much you love your job. “Do something you love and you’ll never have to work a day in your life.” No. I strongly disagree. Work is work. And work is hard. I don’t care how much you love it, it’s still hard. It still takes a toll on your mind, body, and emotions. As a matter of fact, if you love what you do, it probably wears on you that much more because you CARE. And you’re HUMAN. To be passionate about something and put your all into it is exhausting. It just is, and there’s no way around that. Work is work. So yeah, I love Friday. It’s nearly time to unplug, refresh, and spend quality time with the people who matter most to me. Happy Friday, everyone!

The accounting industry is long overdue for a makeover. Frankly, I’m surprised it’s taken this long. What we need, now more than ever, is a new image. A new brand. A new philosophy. Gone are the days of: - Suits and ties - Boring, dull, monotony - Social awkwardness - Obsession with profit over people (I’m looking at you, Big 4) - Working nights and weekends - The “Big 4 or bust” mentality - Time tracking - The hourly billing model It’s time to usher in a new era for Accounting. We need more and more good accountants who are approachable, people-focused, and genuinely helpful. We need more accounting firms that: - Foster a warm, casual culture - Prioritize innovation and leverage technology - Focus on people over profit - Trust their people - Charge fair prices based on value - Prioritize balance (do all the above right, and this becomes inevitable) We’re in the early innings at Margin CFO and Bookkeeping, but believe me… We will do everything we can to lead the way. We’re building a modern firm – a firm that’s focused on people first and foremost. A firm that exists for something bigger than money, bigger than ourselves. A firm that exists for the growth of our people and the growth of our customers. We are the New Accountants.

You can’t grow a startup 𝙩𝙝𝙚 𝙧𝙞𝙜𝙝𝙩 𝙬𝙖𝙮 without good finance and accounting. At least not for long... Sure, you may “grow” while paying little attention to your numbers. A healthy top-line and a big bank balance can provide a lot of false confidence. But at some point, it’ll catch up with you. You'll have to put out fires that could've been prevented. You'll face emergencies that you're not prepared for. You'll have to make decisions without the necessary data. It'll be chaos. Inexperienced founders consider accounting and finance as just a support function. Purely overhead. A necessary evil. But a good accounting/finance team can have an outsized impact on your company’s trajectory. It can be the difference between success and failure. The best startups I've ever worked with (9-figures & unicorns) were the ones that paid the most attention to their numbers. If you need help with yours, send me a DM.

The basics of finance for startups: 1. Create a simple forecast 2. Close your books and compare them to the forecast 3. Refine your forecast 4. Act accordingly Don't know how to create a forecast? Here's how: 1. Gather and analyze historical data (if you have it) 2. Assess market conditions 3. Identify trends 4. Adjust for seasonality 5. Plan for contingencies 6. Identify revenue drivers 7. Forecast future revenue 8. Forecast future expenses (keeping in mind what it’ll take to find and deliver that revenue) 9. Set goals and benchmarks 10. Update it regularly This is the 80/20 of finance. Don’t overcomplicate it.

Excited to share that Margin CFO and Bookkeeping is growing yet again. We're looking for another Controller to join the team and help us manage month-end close and provide critical financial insights to the startups and small businesses we're privileged to serve. If you or someone you know would be a good fit, please apply or reach out!