How Terri Got Started with Fractional CFO Services

My name is Charles Lykoff. I'm with Profit Surge Group. We help fractional CFOs, accountants, bookkeepers, grow their business, add on fractional CFO services, and get more clients. Today I have a special conversation with Terry. Terry's been working with us for a little bit. She is a profit and growth strategist that's recently added on fractional CFO and has grown your firm, her firm. Terry, I'm so grateful to have you here.

Thank you for having me, Charles. I appreciate your time.

Absolutely. So tell us a little bit about you, maybe your business. What do you do?

So, yep. So I'm a profit and growth strategist like you. Shared. I am in the Gainesville area of Florida, which is kind of in the middle of the state, but I have clients all over the country. I really spend a lot of my time in the bereavement industry, the legal industry, most recently trades as well. And I love helping my clients grow their practice and their business to the level where they want take it. And I'm so excited that I met you because you're really opening new doors so I can help my clients with their endgame and the middle game and really make that money for their business that they want to bring in every day.

That's awesome. So, Terry, how did you find us?

I found you online, actually, and have been stalking you for a little bit of time. Don't tell, but I was talking to you for a little while because I'm like, who is this guy? Does he really know what he's talking about? Because this was an area that I, you know, the deeper into advisory and fractional CFO skills, I really wanted to make sure that you knew what you were talking about and that you'd really be able to help me to grow my business and show me the right ways to be successful. So having a solid foundation from you, now that I've stalked you, I decided to join you and take my business to the next level.

Heck, yeah. Well, so clearly you did some research, put on the financial detective hat, and who is this? Is he doing. Why am I seeing this Facebook and this Instagram ad? Now, you worked with us, part of the Mastery program and some of the other stuff that we got going on over here. We covered a lot about finance and op operate operations and profit, levers to pull to make people more money and emotional intelligence and all sorts of those things. One of your statements there was like, who is this guy? Fractional CFO is kind of niche, relatively new on the scene. He's this person talking about it. What kind of stuff have you learned with working with us?

Oh, my gosh. There have been so many things that I've learned working with you, but, you know, my favorite is really, you know, I want to see my clients succeed, and I want to see them achieve the goals that they have for their business, and I want that for them maybe more than they do. Right. So I think one of the things that you talked about, really, in the very, very beginning was the right mindsets and the right way to go about hearing what your client is saying. And then from that place, we talked about how to get your clients to achieve those goals. So we talked about levers and different strategies to prepare for whatever's next in their business. Oh, my gosh, there were so many things, but really, I liked hearing about how I can find all of the hidden pieces inside their business that they're leaking money with and they didn't know it, and how we can go in and help them fix. Seal that bucket, the leaks in that bucket up. And that's what I loved learning the most. And then whatever lever we need to work on to do that.

That's awesome. I'm grateful to hear that. So curious, what was the kind of problem you had before working with us?

I had bits and pieces, so I had a whole lot of stuff, but I didn't really have a solid core. And, you know, I felt like I was kind of shooting by the hip without a foundation behind me. So I think going through your program really helps set a solid foundation so I can move forward and really help my clients and know that I'm doing it the right way to help them achieve their goals.

That's awesome. Right. We really care about the end result for the client. That's, like, the biggest thing. You've heard me say this a million times, but it doesn't matter how smart you are if you can't get a result for a client.

Right?

Doesn't really matter.

Right. Yeah, exactly.

So there's a. There's a whole bunch of people out there as far as fractional cfo, not really. I'm like, basically the only one. But general. Grow your accounting firm or maybe grow your business. You know, everyone in their dog has something that they do with education. Even universities do. Is there any reason in particular you decided, you know, why not Charles? Why. Why work with him instead of, say, maybe somebody else?

Sure. So, you know, the Internet is filled with people who walk the walk, but. Or talk the talk, but don't walk the walk, but What I really loved about you was you're actually doing this every single day and helping your clients grow and develop their businesses. And I really find that I learn best when someone else is proven to be successful at what they're sharing with others. You know, if you're not successful, I mean, you know, I can read a book, you know, but that's really not helping me. You know that, that doesn't make me a coach. Right. Putting my car in the garage or doesn't make me a car. So. But you're actually, you know, doing the things so. So. Or being in the garage doesn't make me a car, I guess is the right way to say it. So y. So I just really appreciated that you were getting results for your clients and really helping them taking their businesses to the next level.

That's awesome. Thank you. Thank you so much. And yet still offering fractional CFO services. Been a prior full time cfo. So was there anything in the program particular that really helped you?

So helping my clients see the immediate results of helping them find holes was, you know, really beneficial. Things that I didn't think to look for maybe so fast. And changing how I was going about doing things and putting it in the right order really has helped me with my business. The way you structured it and told us how to go about doing things. So I found that really helpful.

And when we're talking about growing a fractional CFO firm, right, we've got clients, we've got some marketing, we show people a different way how to do it kind of the six week intensive model instead of correct any other model out there. When we look at that, is that stuck out to you? Because I know, I know sometimes people are like, I want to do it this way or this way or this way. Right. And we love the 6 week intensive model here for a variety of reasons. But I know for you, like you're in the middle of about to sign in on a new client that we, you and I were talking about prior to this. What sort of approach are you going to be taking with them?

I'm going to be taking them through a six week intensive and then, you know, being able to continue with them on an ongoing basis while maintaining, you know, their books throughout the year as well. So totally two different type of skill sets, two different teams for us. And yeah, and it's really, really exciting because I think offering my clients some, you know, we're seeing this, let's fix this immediately. Really helps them say, wow, I didn't even know that was There. Right. And the responses that I've gotten from other people that I've been doing this with have. They've been like, wow, this is awesome. I didn't know we had this. We have a little bit extra cash that we can do something with. And I'm like, nope, no vacation. But you can go ahead and put this back in marketing.

Crack of the whip.

Yeah.

Grow your business, and you're going to like it.

Yeah. And you know what was really great was, you know, I did share with one of my trade clients. I'm like, you know, he wanted to get a new truck for his business, and he really wanted the F450. And I'm like, you know, you can't afford the F450 now. You can go get the F150, but let me tell you when you can afford the F450. And he was like, okay, great. And then I said, I don't want to see it here next month. I want to see the F150 or nothing. And we'll tell you when you can get it. And he's like, okay, no problem. And he's like, well, you know, you're working on some stuff for us right now. He's like, yeah. And I was able to come back to him three weeks later, and I told him, I found some things. We're going to save you this much money by fixing these things. If you can give me three months, you can get your F450. And he was like, no way. That's so awesome. So, you know, being able to see those things that I wasn't necessarily looking at before and then opening up his eyes, you know, he was just super, super pumped and super happy, and I don't know that I would have found it this quickly if we weren't working together.

That's awesome. What's the price difference between an F150 and 450, by the way?

Oh, it's a lot of money. It's a lot of money. It's like buying a Honda and a Beamer. Right. That means it's a difference. It's a lot of money.

250S are. Are a fair amount. I don't know. What, the 350s or the 450?

Yeah, it's a lot of money. But, you know, he did. He could buy it, Right. But then he would have to be strapped. And, you know, I'm not about STR clients. You know, I want them to live their life and not have to worry about some of that stuff in their business. And he wants to be comfortable and get the truck and do the things for his business, but it just wasn't the right time. It will be the right time soon.

And you can make that happen.

Yeah.

So how's your life changed or what's changed in your life, like, since working with us and signing on some clients or fractional cfo? Like, what's different?

I have different service offerings now where I can really. What's different is I am more confident in my skills, that I can really make a difference for my clients in a different way than I was making in the past. And that just makes me super pumped.

It's so much more fun to do than general kind of booking, at least for me. Maybe not everyone else out there curious. Where would you think you would be right now if you didn't, like, decide to work with us? What did you think you'd be doing?

Same thing I was doing every day without. Without finding the things that really bring more joy and satisfaction with my clients. They're happy with my thing, but I think they saw me more as an expense from the bookkeeping side. And I. I think now they're finding me to. To be a tremendous asset to their business because I'm sharing so many. So many things that we're finding. So it's a different. It's just different relationship with my clients.

Yeah, they go from a. I have to talk to my financial professional to I get to talk to.

I get to talk to my friend. Yeah, exactly. And I feel the same way about them. It's like, oh, great. I get to talk to Charles today. This is awesome. So.

So if there's anyone watching that is on the fence about booking a call or talking with us or joining, like, what would you say to them?

Just go and do it. It's so worth your time. You don't know where you can take your business until you try something and see. And it doesn't matter if you really don't have all of the skills, because Charles has all the skills and so does his team, and he can get you to where you want to go.

That's awesome. Thank you so much, and you're welcome. Any last parting words or words of wisdom that you want to share with someone who's maybe a little bit earlier along in their. In their journey?

Yeah, I don't think you, you know, need to have all the skills if you're early on in the journey. I think you have to have a heart that wants to help businesses succeed and grow. And I think you need a really great coach and team to partner with so that you can have a successful business and we all start somewhere.

Awesome. Hey, Terry, thank you so much for being here.

Oh, it was my pleasure. Thank you so much for having me, Charles.