Josh
@CFOJosh
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✨ Fractional CFO & Veteran - Turning complex numbers into clear strategies for business owners 🚀 Follow for business insights!
West Point, NY
Joined March 2012
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Pinned Tweet
Selling your business might be the biggest financial decision of your life.
And let me tell you, it's a whole different ballgame than just running it day-to-day.
I've seen it all.
Owners who think their $5 million business is worth $10 million.
And owners ready to sell for a
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@JoePompliano
I just saw an article this morning that said the sunglasses company that makes his shades has had like a $76M bump since Coach Prime started at CU😂
I think the saying is “a rising tide lifts all boats” 😉
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80% of people that book discovery calls with me come with the same issue!
Quickbooks is a mess and they need clean books to: sell the bsuiness, to get a loan, to finish their taxes, etc.
Here's 14 tips to keep your QBO straight in 2024
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Whatever you do, work at it with all your heart, as working for the Lord ~ Colossians 23:3
Hawk, Houston’s kicking tee retriever, just won MVP of the Independence Bowl with this performance
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@Chris_Ryan1
That’s an interesting perspective but I disagree.
Life has ebbs and flows.
Gives and takes.
Seasons of work, seasons of play.
It’s not about making the two side equal.
It’s about ensuring we don’t spend to much time on one side or the cumulative effects will be negative
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Something I've learned in my years as a CFO?
The most successful business owners relentlessly connect their financial planning to their deepest goals.
They don't just chase revenue or profits blindly.
They get intentional.
They paint a vivid picture of your desired future:
-
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You know what I've found to be the No. 1 enemy of entrepreneurs and small business owners?
It's not ambition or a lack of great ideas.
I call it the "Death by a Thousand Cashflow Cuts," and it's happening In SMBs worldwide.
Meet Alex, a young and driven business owner who
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@ConnorAbene
A schedule is your friend… Your child needs structure and things to be on a regular schedule. So while you may not sleep eight hours straight, what you can do is create a routine where it at least becomes predictable for you and your baby. When the routine clicks it’s a huge
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Today Amy and I celebrate 21 years of marriage. I'm incredibly blessed that she chose me and I love doing life with her by my side. She's beautiful, intelligent, a servant leader, and an incredible Mom!
Here's to many more 🥂
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A 1% increase in prices leads to an 11% increase in profit.
McKinsey discovered this in there 1970s and it still holds true today.
Pricing is your biggest lever for profitability.
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@BuildtoSuitBurt
You can get the pins in the band replaced so that it fits better and doesn’t flex as it is now
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My old boss used to say: "in God we trust, all others must bring data."
Took me a few years to realize how right he was.
Stop trusting your gut over hard facts.
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Any SMB owners struggling to make operational decisions because you don't understand your accounting?
#SMBTWITTER
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In 2012, I was in grad school at Baylor University. While I was there, I met and befriended another Army officer that was in the same graduate program named Mike Franz.
Mike was an Army nurse and one of the smartest guys that I had ever worked with. He was top of our entire
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When business is slow:
Buckle down.
Enhance systems.
Revisit your business plan.
Analyze your finances.
Anticipate your busy season.
Improve your offering.
Develop your team.
Strategize your growth.
Build the foundation for the next wave.
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They say there are no atheists in a foxhole... and I'm no exception to that rule.
In May of 2007 while deployed to Afghanistan (3 weeks after my first child was born) and embedded with Afghan Army ground forces. We were on a patrol and I was in a vehicle that was hit by a
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Clients like straight talk.
When you're able to cut through the jargon and explain complex ideas in simple terms, it builds trust and confidence.
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I have a client who loves when I give it to him straight
He said most people BS him and he wants to work with someone who tells it like it is
Straight talk is a competitive advantage
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This is hilarious and true
Sending a 2nd year graduate in to tell the 62 year old VP of Ops we just slashed his capex budget by $43m
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@RobertMSterling
@huntercoldcalls
Good thing you’ve got that cold burrito 🌯 so you don’t have to interrupt that flow state while you’re grinding!
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@Wealth_Pill
Lewin, great thread but I would add having a "board of directors" or group of wise men who can provide sound counsel. I suppose it could be lumped into your "social" points... There's tremendous power in the advice of trusted men who have more experience than you do.
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I get asked if I know how to use spreadsheets.
I tell them:
"I Excel at it"
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@investing_law
Dude, I feel like I say this daily.
First rule of business is to make it easy for customers to give you their money... even if it costs you a little bit!
Don't let your desire to save 3% cost you 100% of the sale!
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I recently worked with an HVAC company on cleaning up their books to get accurate data.
The biggest discovery?
Business units that were losing a combined $5m per year.
Not all revenue is good revenue.
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I once worked with a business owner who was constantly on edge about cash flow.
She was so risk-averse, it was impacting her quality of life.
Sound familiar?
While others would push investing in growth tactics, we focused on building up her cash reserves and creating detailed
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Happy 4th X fam!
I’m celebrating this year from the convention center at Mandalay Bay at the USA Volleyball Nationals.
Proud dad getting to watch my oldest compete at the highest level 💪
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CFOs are prospective...they help you be forward-looking.
Accountants are retrospective. They look backward at cashflow and tell you have had some lumpy months.
If you want to develop strategies to stabilize that cash flow it's time to consider working with a CFO.
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I have not met a CFO or CPA who is NOT a freak in the sheets.
Spreadsheets.
Freak in the spreadsheets.
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A great CFO brings more than bookkeeping:
- Month-by-month cash flow projections
- Strategy for smart bill payments
- Efficient supply chain financing
- Evaluation of retained earnings for good use
- Suggestions on optimizing inventory for cashflow
Extremely valuable.
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Many people assume fractional CFOs are only for high-growth businesses.
Wrong.
My client who makes a couple hundred grand profit from his creatine gummy bear business uses me to free up his time for family and travel.
It's not all about growth.
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Your financial professional should be ABCD!
1. Assertive
2. Bold
3. Confident
4. Direct
If they aren't speaking hard truths to you then you need a new financial pro
I had an owner tell me "I wish my other advisors would give it to me straight like you do" this morning!
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@DietCoke82
Super cool video… was that a camera drone or composite of multiple cameras and shots?
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Alex is showing he is a high EQ leader here… business is a relationship game!
Have an abundance mindset, offer to help, and be a giver.
This GC will remember how he responded and point others to him.
I received a call today that stripped us of $300-500k in annual sales.
A $15M/year General Contractor in our area made a decision to bring cabinetry in house.
The owner called me, first time I had ever spoken directly with him.
Here’s what he told me…
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Need a CFO's insights but hesitant due to cost?
Consider fractional CFOs.
You pay for expertise when you need it, not for a full-time position.
Flexible. Cost-effective. Valuable.
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The ones that are able to scale a business quickly and efficiently are the ones best at delegating non-core functions.
They know they can't build the business they want on their own and delegate their weaknesses out quickly.
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Also SMB owners doing their own bookkeeping, accounting, marketing, sales, social media, operations, customer support, etc
Financial advisors trying to serve clients, run a business, and do all their own marketing
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If you're the big picture guy, or the ops guy, or the people guy, and you just love that aspect of your business...
Why wouldn't you delegate the part that you're not passionate about to somebody that is?
Imagine how much better that function is going to be handled.
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A CFO dives deep to boost your EBITDA.
They're not just a number crunchers:
-Mitigate cash-flow risks
-Look for ways to optimize spending
-Explore data to uncover operational inefficiencies
CFOs don't just present reports.
They drive insight through analysis.
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Business owners...
Take a step back.
I know you love your business but DON'T let it become your whole identity.
It's bad for your mental health and sale value.
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Check in on your friends…
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What people think a CFO does:
- Oversee finance team
What a CFO actually is:
- Strategic planner
- Data analyst
- Economic model builder
- Metrics scrutinizer
- Business strategy adviser
Overseeing is just the tip of the iceberg.
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It is easy to forget...
A business is the sole identity of the business's owner.
Business owners are so emotionally invested in their company that they take every aspect of the selling process personally.
It's understandable, of course.
This business is your baby, something
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Elevate your business from 'mom and pop' to 'M&A ready':
- Invest in qualified bookkeeping
- Understand your financial status
- Anticipate acquisition moves
- Ascend market multiples through financial strategy
- Employ a CFO for strategic financial management
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What finance roles do you need to hire and when:
- Pre $1M: Use a bookkeeper for P&L tracking
- $1M - $3M: Employ a CPA for financial advice
- $3M+: Bring in a CFO for budgeting and strategic planning
Don't try and do these things yourself. You WILL get burned.
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Being a fractional CFO is a shortcut in business experience.
With multiple clients, in multiple industries, with multiple challenges…
I get 10 years of experience in a fraction of the time.
And I get to share those insights with all my clients.
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Selling to a PE firm is not always the right choice.
Consider the risks, like erosion of legacy, disrupted business culture, and aggressive growth targets after signing on the dotted line.
Sometimes, money isn't all that matters.
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In 2007 I was a Captain in the US Army deployed to southern Afghanistan as a US Military Trainer. I was there as an Embedded Trainer with the fledgling Afghan National Army.
There were 14 of us in pairs(1 officer/1 NCO) assigned to each Afghan Kandak (battalion size element ~
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Ai means "the ruin"
Reading Joshua 8 this morning during my quiet time and journaling on it. The chapter is titled "Ai Destroyed"
In the chapter, Joshua leads Israel to victory in battle with the kingdom of Ai.
After winning the battle, in v8:28 Joshua celebrates the victory
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An experienced CFO will cost you $250-600K per year.
Fractional CFOs are a way to get that experience at a fraction of the cost.
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🎯 Set SMART financial goals for 2024: Specific, Measurable, Achievable, Relevant, Time-bound. This clarity will guide your business decisions.
#SMARTgoals
#BusinessPlanning
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@trevizo_gabe
Hard no for us. Wife is pediatrician and sees kids all the time that have been molested. Usually happens during sleep overs. Offender is usually close family acquaintance. Zero upside, multiple downsides.
A little fun for a kid isn’t worth a life time of potential trauma.
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Spending the week sailing Martha’s Vinyard with the fam!
Don’t forget to step away from the hustle bustle and to focus on what’s really important in life.
Grateful for this time with my fam and friends!
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If you're the big picture guy, or the ops guy, or the people guy, and you just love that aspect of your business...
Why wouldn't you delegate the part that you're not passionate about to somebody that is?
Imagine how much better that function is going to be handled.
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Such a great leadership insight in this short clip of Bezos talking with Friedman… worth a watch
Jeff Bezos explains what it means to disagree and commit
“Disagree and commit is a really important principle that saves a lot of arguing.”
There will be disagreements in any endeavor in life where you have teammates.
“In society, and inside companies, we have a bunch of
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Mainstream belief: Accountants and bookkeepers keep your financial order.
Contrarian verdict: They're looking backward, not forward.
It's the CFO who maps out your financial future.
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@jcolesimpson
This is the next version of
@nickgraynews
live twitter drama!
Live tweet the battle… maybe invite the city water commish out for coffee 🤔
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Marketing isn't just about immediate results.
It's about long-term brand value:
- Goodwill
- Positioning
- Market awareness
- Long-term impression
The value there is hard to track, but it's there.
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A 1% increase in prices leads to an 11% increase in profit.
McKinsey discovered this in there 1970s and it still holds true today.
Pricing is your biggest lever for profitability.
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Doctors are among the most highly educated and skilled professionals in our society.
Yet, many doctors fall short in one area:
Basic business training.
This lack of business acumen can have serious consequences:
- Lackluster marketing
- Subpar customer follow-up
- Poorly
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Video of my client sleeping well knowing they have a CFO staying up late strategizing how to improve the numbers.
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No idea if it’s BS or not but GPT-4o has been out for 10 days and someone has already used it to take out their HOA
To quote great Ron Burgandy, “I’m not even mad… I’m impressed”
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CFOs are not just glorified number crunchers.
Our clients are surprised when I start asking about Marketing, HR, & Suppliers...
We are detail-oriented business strategists who have seen a thing or two in our time from past roles and current rolodex of clients.
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Being a fractional CFO is a shortcut in business experience.
With multiple clients, in multiple industries, with multiple challenges…
I get 10 years of experience in a fraction of the time.
And I get to share those insights with all my clients.
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Your most valuable team members and when to bring them in:
- Start-up phase: A good bookkeeper from the outset
- Hitting revenues of $1 million: A strategic accountant
- Over $3 mill: Engage a fractional CFO
The progression mirrors your financial complexity.
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AMEN 🙌
You have to hear what 2024
#TheMasters
Champion, Scottie Scheffler’s friends told him about Jesus Christ’s victory this morning before he went on have his victory on the course:
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Just got my client a cost of goods sold reduction by 30% through:
- Volume discount analysis
- Strategic supplier negotiations
- Raw material price comparison
Boosted net profit instantly.
CFOs do more than just keep the books in order.
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Looking for a CFO to help you secure venture capital?
Make sure they have vast financial modeling experience because VC partners are going to scrutinize
Every.
Last.
Detail.
Of your pro forma.
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Overcome your fear of delegation with these two realizations:
1. You can't do everything yourself
2. Your team is capable of more than you think
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💼 New Year's Strategy: Focus on your most profitable products or services. Invest in what works and consider phasing out low performers.
#ProfitMaximization
#BusinessFocus
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My tip to new business owners.
If you are not a finance guy, no problem.
Focus on getting the business off the ground.
But spend the $500 on a good bookkeeper and just be done with it.
Don't wait to get slapped with tax audits or fines to get serious about it.
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If you’re a business owner, stressed, and want to grow with confidence:
Don’t ignore finances.
You need as much strategic insight as possible today.
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How much does a CFO add?
- Basic calculations = a bookkeeper
- Compliance = a CPA
- Predictive Insights & Strategic Growth = a fractional or full-time CFO
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CFOs are not just glorified number crunchers.
Our clients are surprised when I start asking about Marketing, HR, & Suppliers...
We are detail-oriented business strategists who have seen a thing or two in our time from past roles and current rolodex of clients.
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Another tip:
Hiring a fractional CFO can be a game-changer for your business.
They offer financial expertise without the full-time cost, helping you make strategic decisions and achieve sustainable growth.
Don't underestimate the impact of professional financial guidance.
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As a fractional CFO, I help business owners understand:
- How past financials affect current AND future decisions
- How their goals influence financial strategy
- Which strategic levers generate growth and achieve their vision
All are crucial for achieving sustainable growth.
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It's your CFO's job to connect your financials to your goals.
If they're not doing that on a regular basis...
They're a glorified accountant at best and not adding any real strategic value.
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I live north of NYC along the Hudson river and each day I take my dogs out back and sit outside enjoying my coffee and the river views. Daily, around 7:30 an S76 flies over toward the city and I wonder what billionaire is commuting in from their fancy estate home in the Hudson
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Most accurate financial viz I've seen in a long time...
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The McKinsey study from the 1970s rings true today:
A 1% price increase typically leads to an 11% boost in profits.
Raising prices directly affects the bottom line... once you know your contribution margin.
Have you calculated this?
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We had a client who was eating $2k in unused SaaS every month for the last year.
Could have been fixed with a 10 minute monthly audit.
Don't let it creep up on you!
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As a business owner, take the time to deep-dive into your financials.
If you don't have the dashboards to do that…
Build them.
Understanding the connection between spend and profits is overlooked by 90% of businesses.
But by understanding you can improve without guessing.
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The journey of a growing business:
1. Breathe In: Strategize, sharpen skills, refine systems
2. Breathe Out: Apply learnings, serve customers, grow
Harness these flows and you'll create true momentum.
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Do you think digital marketing stops at likes and shares?
It won't be long before you go out of business.
It's crazy how many business owners don't track their marketing to sales completion.
They have no idea what's actually bringing in $$$.
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Working with an HVAC Co. ready to sell.
We found that they had 3/6 business divisions losing a combined $5M.
They are selling for 10x.
They don't want to wait, clean it up, and then sell.
The PE firm buying them are laughing.
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Marketing spend without sales tracking is a waste.
- Attribute sales to ads with last click/tracking sales data in platforms.
- Attach sales value to leads via CRM import and cross-reference with ad engagement.
Without this, you're just guessing.
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Selling your business?
Avoid earnout disappointment with the new owner by:
- Setting realistic growth targets
- Negotiating a gradual leadership transition
- Vetting the new owners and their approach to change
-Having a clear understanding of the post-acquisition relationship
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Margins matter.
Higher profit = Higher multiple
It’s that simple.
When you have your operational house in order, EBITDA goes up.
When EBITDA goes up, multiples go up.
Operators - don’t just focus on your top line.
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@BrentBeshore
I can't love this enough
@BrentBeshore
! Praise God for your patience and willingness to sit with
@david_perell
and meet him where he was at! So many of us mess that part up... Merry Christmas 🎄brother!
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Clients like straight talk:
• You're not profitable
• You're spending too much
• Your prices are too low
• Your margins are too small
• You're not charging enough
They don't want to hear it, but they need to
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Just finished listening to “Am I being too subtle by
@MrSamZell
. Great listen made even better by it being read by Sam himself. Inspiring what he’s accomplished and I loved his message of simplifying complex deals understanding risk. Thanks for sharing your story Sam!
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The business owner and CFO relationship should look like this:
- Owner sets lofty goals
- CFO applies financial strategy
- Goals are broken down into achievable steps
- Strategic business levers are pulled
- Future bottlenecks are removed
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