In episode 20 of Built By Margin, Laurie Chen interviews Jim Emerich, Founder of Backbone CFO, as he reflects on the invaluable lessons learned while helping others build their enterprises and emphasizes the importance of taking risks to achieve one's own entrepreneurial dreams.

Tune in to learn about the challenges and rewards of starting a business and how Jim's experiences have shaped his approach to financial strategy.

TIMESTAMPS

[00:01:02] Entrepreneurial journey of Backbone CFO.

[00:04:24] Fractional CFO services framework.

[00:10:57] Simplifying client tech stack.

[00:13:43] Financial roadmap for business growth.

[00:17:06] Client communication frequency.

[00:20:10] Faith's impact on business.

[00:25:33] Starting a business risk.

[00:27:31] Business scaling and reinvestment.

[00:32:19] Raising the floor concept.

QUOTES

• " So we go through a particular financial control framework, we call it. So we talk about cash, profit, people, systems, and position, and we really coach our clients in those five areas of their business on a continuous basis. Now, what becomes unique is every client has their own challenges and opportunities and issues that they're solving, right? So in that way, every client. Engagement can be a little bit different because the CFO is solving different problems, helping the client tackle different opportunities, but we're using the same framework, the same process to do it." - Jim Emerich
• " And you also really have to assess what the client's needs are, right? Because, you know, most construction manufacturing companies are not very tech savvy. You know, it's very different if you're working with like a software AI company, right? They might want a little bit more sophisticated system. But like for my clients, you know, it really depends on who they are, you know, how tech savvy are they? Are they fine with just Google Sheets? Are they fine with Excel or a little bit more of a cloud FP&A system like Causal or Jirav? " - Laurie Chen

SOCIAL MEDIA LINKS

Laurie Chen

Instagram: https://www.instagram.com/lauriechencpamba/

LinkedIn: https://www.linkedin.com/in/lauriechen/

Jim Emerich

Instagram: https://www.instagram.com/backbonecfo/

LinkedIn: https://www.linkedin.com/in/jamesemerich/

WEBSITES

Built By Margin: https://www.builtbymargin.com/

Backbone CFO: https://backbonecfo.com/

In episode 19 of Built By Margin, Laurie Chen interviews Joseph Dunaway, a Marine Corps veteran and founder of VICI Financial, as he discusses how technology and AI are transforming the accounting landscape, allowing for more personalized and efficient services.

Tune in to hear Joe’s insights on building a business with integrity and the importance of adapting to the future of accounting.

TIMESTAMPS

[00:01:04] Future of accounting services.

[00:06:06] Investment in accounting services.

[00:10:27] AI in tax planning strategies.

[00:13:34] Real estate tax strategies.

[00:16:10] R&D tax credit complexities.

[00:21:20] Bookkeeping services offered.

[00:27:06] Strategic planning in accounting.

[00:28:37] Investment in accounting services.

[00:32:07] Slack as a communication tool.

[00:37:15] Favorite workout: box jumps.

[00:40:50] Scaling smarter and harder.

QUOTES

• "I wanted to build something that I could continue to help people, which is the core of what we do." -Joe Dunaway
• "Your accountant should be an investment, not a sunk cost." -Joe Dunaway
• “The first one to three years makes or breaks any new business." -Joe Dunaway

SOCIAL MEDIA LINKS

Laurie Chen

Instagram: https://www.instagram.com/lauriechencpamba/

Facebook: https://www.facebook.com/lauriechencpamba

LinkedIn: https://www.linkedin.com/in/lauriechen/

Joe Dunaway

Instagram: https://www.instagram.com/thejoedunaway/

LinkedIn: https://www.linkedin.com/in/joseph-dunaway

WEBSITES

Built By Margin: https://www.builtbymargin.com/

VICI Finance: https://www.vicifinance.com/

In episode 18 of Built By Margin, Laurie Chen shares key insights from her upcoming book Risk Worthy. — This episode shares a never-before-read excerpt on why “Fail Fast” is essential to growth. Laurie reframes failure as deliberate experimentation: define your hypothesis, read the signal, and plan the next iteration you’ll start by Monday.

QUOTES

• "Fail fast. It is better to experience failure than to not take any shots in life or in business, making decisions in the risk worthy framework in pursuit of the best version of yourself and your best possible future does not mean that you won't experience failure along the way."

SOCIAL MEDIA LINKS

Laurie Chen

Instagram: https://www.instagram.com/lauriechencpamba/

LinkedIn: https://www.linkedin.com/in/lauriechen/

WEBSITES

Risk Worthy: https://www.riskworthy.co/

Built By Margin: https://www.builtbymargin.com/