Fractional CFO GPT describes a response to a sudden loss of recurring revenue: clear the team’s priorities and focus the next 90 days on two things—(1) 'loving on' existing clients to prevent further churn and (2) bringing in new clients. The advice emphasizes simplifying focus during tough times to stabilize revenue and rally the team.
When times get tough in business, simplify your focus. So, as you can imagine, having half a million dollars in recurring revenue walk out the door overnight is a very big deal, even for a company my size. And when I got to work the next day, I found that my mind was in a million different places, all these different things that need to be done, and I'm trying to get the team kind of rallied and going in the right direction. And as I'm sitting here thinking, like, what each person needs to do, what I realized is I didn't have clarity of focus on what needed to happen. And so I used that to just completely clear the deck. We took all the rocks and the priorities and the to do list, everything that we were working on, and I just cleared the deck. And I said, listen, everybody, for the next 90 days, I want you focused on two very simple things. Number one is loving on our existing clients to make sure that we don't lose any more. And number two, we need new clients in the door. So when times get tough, simplify your focus.
