Bill Kindelin

Many people jump into the fractional CFO career and do remarkably well. Many more people jump into the fractional CFO career and do poorly, or it takes them a year or two to become self-sustaining. The ones who do well are the ones you read about on LinkedIn. The ones who are not doing well do not post about how they're doing on LinkedIn - you might think they were doing great based on their posts. But I know you're out there because I talk to a number of you. You started off excited, watching podcasts, videos, and masterclasses, and what they tell you to do - just...doesn't...work...for...you. Now is the time for you to do 1 on 1 coaching. I know you don't want to spend more money and time after putting all the time and money already into the above-mentioned stuff. But you're probably in a rut that needs personalized attention to get out of. I have a 1 on 1 coaching package targeted specifically toward people who are already fractional CFOs and not living up to your own expectations. There is an established structure but you can move at your own pace and we can modify the agenda to suit your needs. Most importantly, I take ownership of you being successful. I will beat myself up if you are not successful at the end of our time together. https://lnkd.in/ekTWqGcz

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Does your CFO merely take notes, or do they actively question your executive team? Now, try to identify which approach is considered a warning sign by Flg Faucet Company Partners. Dive into the recent insights shared by my colleague @Anne Samak de la Cerda. https://gag.gl/d2rki1 #CFOLeadership #CEOInsights #FinanceTeams

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🚀 Numbers Don’t Lie: My Journey as a Fractional CFO 🚀 As a Fractional CFO, I’ve had the unique opportunity to blend financial expertise with entrepreneurial spirit. Here’s a snapshot of my journey by the numbers, showcasing the impact and growth not only for my clients but for my own career: Average Monthly Clients: 11 clients per month Average Revenue Per Client: $1,365 per client per month Client Base Growth: Net growth of 2 clients per year Projected 2024 Earnings: $200K, working only 30-35 hours per week. Total Earnings: $1.45 million since stepping out of the W2 world. Do you want to know my secret to success? 🗓 Join me at The Noble CFO Challenge: May 13-17, 2024 🔗 Learn more: challenge.thenoblecfo.com Whether you're looking to enhance your CFO career or seeking a change that offers both profitability and work-life balance, I’m here to guide you. Let’s explore what your numbers could look like! 👉 Ready to redefine success on your terms? Register for The Noble CFO Challenge and let’s make those numbers work for you.

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🎭After market-close today, Workday stock was up strong in afterhours trading after initially being down! This feels like another example of some aftermarket traders and speculators getting whipsawed on low volume and piecemeal information. 📊Although #Workday’s initial results disappointed and pressured the stock down shortly after financials were released, management's discussion and a deeper reading shared hopeful news of a near-term subscription backlog slightly higher than projected, an increase in forecasted operating margin from 25% to 25.5%, and a few other positive items. 🔭The outlook possibly indicates a slightly more promising landscape for user retention and engagement as corporate customers persist in their austerity measures focusing on enhancing productivity with below-normal workforce expansion. 📰Channel News Asia (CNA), Boursorama, LiveMint, and Reuters (to name a few) carried this story today—in an article by Zaheer Kachwala, "Workday beats revenue estimates on payroll demand, announces $1 billion buyback plan"—along with our #commentary regarding why Workday shares were up. 🤷🏽‍♂️Maybe after feeling burned during the last two quarterly earnings reports in February and May, investors felt that management statements today possibly put a floor on the company’s outlook and that in the near-term the worst is past for Workday (as long as we don’t enter a recession)?  QUOTED EXCERPT "There were some positive nuggets in management's outlook including... a 17 percent increase in subscription revenue and a $1 billion share buyback program," said Michael Ashley Schulman, chief investment officer at Running Point Capital. ~~ "We are your #familyoffice" #investments #stocks #tech #alternatives #PPLI #taxplanning https://lnkd.in/gV2xFcti ~~ Disclosure: The opinions expressed are those of Running Point Capital Advisors, LLC (Running Point) and are subject to change without notice. This is not investment advice and this is not a recommendation to buy or sell a security. The opinions referenced are as of the date of publication, may be modified due to changes in the market or economic conditions, and may not necessarily come to pass. Past performance is not indicative of future results. Forward-looking statements cannot be guaranteed. Running Point is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about Running Point’s investment advisory services and fees can be found in its Form ADV Part 2, which is available upon request. RP-24-128

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CFO Optimism survey results from the Federal Reserve Bank of Richmond: "When asked between May 13 and June 3 to rate optimism about the overall U.S. economy on a scale from 0 to 100, the average rating from CFOs was 60.6, remaining unchanged from the level of optimism in the first quarter of the year." I would say my clients and other SMBs I talk with or hear about via grapevine have a similar consistent optimism about their own businesses. The business is moving along well, with a cautious belief that it will continue. #capitisadvisors #fractionalCFO #CFO #smallbusinesses #finance #budgetyourbusinesspodcast

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Interesting observations on the PE landscape

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When your CFO leaves: relying on an interim CFO for financial stability The departure of a CFO can cause turbulence in a company, and until a new one is hired, it might make sense to bring in an interim CFO. Here is a brief article that discusses this topic. https://lnkd.in/gnpbHrfH

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Shorter audit timelines for mid & large unlisted companies have been a topic of discussion for some time. While many of these companies, including subsidiaries of MNCs and those backed by PE investors, are prepared for audits by early April, current deadlines often lead to delays. This can be frustrating for finance and accounting teams, who ideally want audited financials completed by May. Just as early month-end closure allows teams to focus on future developments, a quicker year-end audit frees them up to concentrate on the next phase of growth. Could tighter deadlines be the answer?   Enforcing stricter timelines could instill discipline in the audit process, benefiting both companies and auditors. Companies would receive audited results sooner, and auditors would be held more accountable for timely completion.   This, in turn, would improve transparency and efficiency for unlisted companies, allowing them to make strategic decisions with the latest financial information at hand.   What are your thoughts?   Is it time to revisit audit deadlines for mid & large unlisted companies? Share your insights in the comments below!   #auditing #unlistedcompanies #financialreporting #deadlines #efficiency

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Congratulations to FocusCFO® for growing to 165 CFOs in the US (they were 83 at the end of 2022). When I talk about going to work with an established fractional CFO firm, they are one of the good ones I recommend. With 34 new CFOs halfway thru this year, I would guess they'll continue to grow at a good pace for the foreseeable future.   Those of you who follow me know my mission is to grow the number of fractional CFOs from 5,000 to 50,000 in 5 years. You also know I recommend newly aspiring fractional CFOs consider joining an existing firm. Over the last year, I’ve spoken with dozens of folks who are in established firms or started off with an established firm. I’ve gotten to know the leadership at Focus CFO. I like and respect them, but more importantly I think they have a sustainable business model for the would-be fractional CFO.   If you want to learn more about them, you can find them here - https://lnkd.in/e65tV3ct To make that click more attractive, they’re offering for free my book “So You Want to be a Fractional CFO” and my guidebook “Join an Established Fractional CFO Firm”

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IMA | Institute of Management Accountants’ new U.S. Salary Survey makes it clear that the value of being a CMA is tied directly to your earnings. CMA’s earn 27% more in the U.S. than professionals without the certification. For many years, IMA has conducted this global Salary Survey to assess a segment of the accounting job market and help propel its members’ careers forward. This report empowers our members to compare their salaries and total compensation, learn more about the value of education and certification, and ensure they are maximizing their careers. Download and explore the full report here: https://bit.ly/4ayZkth

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** I once worked with a business owner who feared new CFOs joining his existing clients. ** “Why does every new CFO feel the need to put thier stamp on things by doing a complete makeover?” A change of guard is a trigger mechanism for change. It’s incumbent for all leaders, not just CFOs, to review systems, processes, suppliers, contracts, etc. It’s a duty. I’m sure most new leaders would love to step into a smooth and efficient running organization where everyone was using best practices and evolving with technology. But that’s not usually the case. Just like relationships, people do not typically leave if everything is wonderful. That’s not to say there aren’t some leaders who come in with their cronies and clean house, but those are bad leaders just aping good leadership without truly understanding the intent or purpose. What should this mean for all vendors? Don’t stop innovating. Keep focusing on quality. Have unreasonable customer service. Do not stop performing competitive intelligence to understand your pricing. Mahalo, 🍹🌴 #cfo ##leadership #maui #finance

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Accountants, consultants have fueled finance chief pipeline Recruiting trends show rise in investment banking backgrounds Long-term recruiting trends show top accounting and consulting firms are slipping as a dominant contributor to the talent pipeline for chief financial officers at big publicly traded companies, though they remain a common launching point. About one-quarter of CFOs at large US-listed companies in the S&P 500 index bring past work experience at PricewaterhouseCoopers and its Big Four firm peers Ernst & Young, Deloitte, and KPMG. Add in other common firms where CFOs have previously worked—such as McKinsey & Co. and Boston Consulting Group—and that figure rises to one-third with an accounting or consulting background. That’s according to an analysis of Bloomberg data on company management profiles, LinkedIn profiles, and corporate leadership biographies. The remaining two-thirds of CFOs at S&P 500 companies, however, have taken a different path. Many have come from finance-focused jobs in investment banking, private equity, or venture capital.

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Things that one learns in FP&A - Lesson #8: It’s not about doing more with less. It’s about doing more with what you have. Several years ago, I was fortunate to buy a humble little cape-style home at an affordable price. Like every excited new homeowner, I had grand plans for the house. Foremost I wanted a kitchen fit for Michelin chefs, a huge, all-marble master bath, and an outdoor space in which I can look out and utter to my dog the phrase from Lion King: “Everything the light touches is our kingdom”. Alas, my bank account was not as grand. I had to adjust my goals and make trade-offs and compromises. Instead of all Level 4 granite in the kitchen, I used Level 2 granite on the counter tops and Level 4 on the main entertaining island. Instead of using all natural stone tiles in my bathroom, I opted for natural stone-looking porcelain and put natural stone where it had the most visual impact. The list goes on. With some creativity and innovative approaches, my dream home still became a reality despite the adjustments I made to my original plan. Managing company financials is similar in many ways. Particularly in small biotech, every function has good intentions and has great ideas on how to best position the program/product for success. Medical Affairs may want to fund several investigator-sponsored trials (ISTs) to generate more real world data on the drug. The program team may find value in developing additional tablet strengths to maximize revenue when considering typical dosing regimens prescribed by doctors. The commercial team may have several activities that “needed to be done yesterday” to ensure a successful commercial launch. But unless a company is swimming in cash, it may need to adjust its plans and focus more on the need-to-dos to complete the development phase. Nice-to-do, value-add initiatives will need to be carefully assessed for ROI and may have to be done only when additional capital resources are available. Instead of four ISTs, a company might opt to fund the one IST that provides the most relevant data and then invest more on trial awareness campaigns to increase clinical trial patient enrollment. A company may opt against developing a second dose strength in lieu of investing in ATUs, TPP testing, positioning testing to understand how to best position the product in the market. In this capital-constrained environment, small biotech companies are feeling the pressure to invest their cash wisely. But as Simon Sinek once said, it is not about doing more with less. It is doing more with what you have. It will require thoughtful and purpose-driven trade-offs and prioritization. It may involve “gating” investments until additional information or capital is available. But you’d be surprised at what companies can still accomplish despite a more modest budget. And you’d be amazed at the innovation and creativity that arise from people when faced with a situation requiring adaptation. #lifescience #planning

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"In recent years, companies have increasingly pointed to a dearth of accounting personnel for material weaknesses tied to their financial reports, and those businesses saw a moderately higher rate of turnover among CFOs. In some cases, those weaker controls meant companies couldn’t file their financial reports on time or had to restate them. Nearly 640 U.S.-listed companies cited insufficient accounting personnel for a material weakness during a 12-month period through June, up 1% over an average of the previous three years, according to Hudson Labs, an investment research software company..." To some extent, I think this speaks to the stigma often attached to accountants (and to some extent FP&A and valuation) professionals as merely back-office "bean counters," that stand as impediments to "front-office" deal making. Makes it more difficult for organizations to recruit and retain. I was fortunate enough to start off as an accountant in the corporate world, then transitioning into treasury/finance, which enabled me to develop a more holistic appreciation for what I did in the latter and how it impacted the workstreams of the former. These are symbiotic relationships. Accounting for my activity enabled more accurate and timely reporting and more accurate and timely reporting enabled faster turnarounds for my deliverables. In my opinion, if the trade of accounting was more valued, there would be more accountants--that was a key reason why I pivoted away from the vocation, early on in my career.

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🌟 Why Fractional CFO Services Are the Game-Changer for Your Niche 🌟 Most companies need a CFO, but not all need one full-time. That’s where the power of fractional CFO services comes into play. 🔥 Flexibility: Fractional CFOs can work across multiple industries, offering insights without being tied to one company. 💼 Cost-Effective: Companies get top-tier financial strategy without the full-time price tag. 📈 Specialization: By focusing on niche markets, fractional CFOs can become experts, bringing tailored solutions to clients’ unique challenges. Fractional CFO services allow you to scale your influence, work with diverse clients, and provide strategic impact without being locked into a single role. It’s not just a job—it's freedom, influence, and flexibility. The demand is growing. Are you ready to tap into it? 💥 If you’re looking to expand your career as a Fractional CFO, DM me, and let's chat! #FractionalCFO #FinanceStrategy #BusinessGrowth #CFOCommunity #NicheMarketing

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What role can a CFO play in a business transition from parents to children? A lot! First in succession planning. Who will run the business? Do they have the same knowledge of the financials as mom or dad do? The CFO will teach and mentor them in that area. Second in ownership transition. Sure, the lawyer and tax advisor play the main role. But the CFO plays a key part in the valuation at which the shares transact. Second, they map out the cash flows of the ideas that are thrown out by the others. Finally, they make sure the parents, after moving out of the business, have the financial wherewithal to live a comfortable life without the paycheck and profit from the company. Agree or disagree?

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More CFOs & Finance Leaders are moving into fractional work, which means there's a HUGE opportunity for CEOs & Founders. Here's why... More and more seasoned CFOs and senior finance leaders are moving to fractional work. These aren't newbies. These are veterans who spent their entire careers in full-time roles until recently. So, what's driving this trend? - Many are pivoting after layoffs, taking longer than expected to find new roles. - Others have taken time off to travel and aren't ready to return to the full-time grind. - Some did some serious self-reflection after covid and decided to embrace the consulting lifestyle. What does it mean for hiring? The talent pool is getting tighter. Some candidates are open to full-time roles, but many love the newfound flexibility of fractional work. Founders and CEOs, if you're looking to snag these high-caliber professionals, you'll either need to: - Offer an incredibly strong mission, positive culture, and transparent interview process that makes working full-time attractive or, - Consider hiring a Fractional CFO and convert them to full-time if the stars align. If you position yourself positively and embrace flexibility, you’ll successfully adapt and gain a competitive advantage. If you don’t… you’ll fall behind the curve. 

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I have only 2 spots left in my program CFO to Fractional Exploration, which provides ONE on ONE coaching to help you decide whether a fractional CFO career is right for you. If you're interested, click on the link in the comments below. I've spoken with many CFOs over the years about being a fractional CFO. Most have heard about the concept but don't know that much about it. I wrote the book "So You Want to be a Fractional CFO" to address that target audience and give them a sense of what it would be like. After publishing the book and talking to literally hundreds of people who wondered if they were a fit for a fractional CFO career, I created a 2-session program to 1) pull back the curtain on what life as a fractional CFO is like, and 2) determine whether your background and other characteristics make you a good fit.

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