Why a Virtual CFO May Be Just What You Need

Jody Grunden - Anders CPA On Working Together: "It's only going to help everybody if we can all learn how to get better and faster." Every business owner needs to watch their money. You watch it come in, go out and hopefully end up with some leftover to make sure you are doing more than just moving money. But not every business is large enough to justify a full-time chief financial officer. Which leads to a conundrum, how do you get the talented person to help you with the financial end of your business when you don't have enough financial paperwork for them to poke at full time? Jody Grunden saw this need years ago and has built a virtual CFO business that he then sold to Anders CPA. Jody discusses what a virtual CFO can do and why it is important. Listen as Jody details how the use of a virtual CFO has helped grow many business. Plus he details the value of standing out. In his case, with a Hawaiian shirt. Enjoy! Visit Jody at: https://anderscpa.com/ Podcast Overview: 00:00 "Virtual Beginnings and Success" 03:57 "Next Year Finally Paid Off" 06:50 "Interactive Pricing Strategy Breakdown" 11:40 "Finding Success Beyond Accounting" 12:40 "Pivoting Amid Layoffs and Guilt" 18:45 "Educating for Success, Not Selling" 19:42 "Productizing Services with Subscriptions" 24:58 "Dynamic Forecasting Explained" 26:33 Truck Repair Business Insights 31:20 "Flexible Client Collaboration Process" 35:07 "Building Connections and Growth" 38:29 "Rethinking Strategy for Success" 42:01 "Thought Leadership Eased Hiring" 44:26 "Expanding Connections Beyond Remote Teams" 47:32 "Scaling Processes for Sustainability" Sponsors: Live Video chat with our customers here with LiveSwitch: https://join.liveswitch.com/gfj3m6hnmguz Some videos have been recorded with Riverside: https://www.riverside.fm/?utm_campaign=campaign_5&utm_medium=affiliate&utm_source=rewardful&via=james-kademan Podcast Transcription: Jody Grundon [00:00:00]: I realized real quick that, you know, hey, I wasn't an accountant, I was an entrepreneur and I just didn't realize it. I didn't enjoy accounting and I still don't today. I don't enjoy accounting, but I love the entrepreneur part of it and growing a business and seeing how successful I can get that business and then even more so helping other people be successful running their business, which is, which is even a bigger joy. James Kademan [00:00:27]: You have found Authentic Business Adventures, the business program that brings you the struggle stories and triumphant successes of business owners across the land. Downloadable audio episodes can be found in the podcast link [e-mail] we are locally interwritten by the bank of Sun Prairie Calls On Call Extraordinary Answering Service as well as the Bold Business Book and Live Switch. Today we are welcoming slash preparing to learn from Jody Grundon of Anders cpa. Which I feel like this is right about the time to start talking taxes. Jody, is that safe to say? Jody Grundon [00:01:00]: I. I guess so. But man, you don't ask me to ask tax questions, that's for sure. James Kademan [00:01:04]: No, so let's just break it down. What is Andrew cpa? Jody Grundon [00:01:09]: Yeah, so Andrew cpa. They're, they're a, one of the largest CPA firms in the nation. They're pretty large. They do a lot of different things, audit, tax. But the, the special that I run is on in what we call the Client Advisory Service Group, which is virtual CFO services. So that's something that, that I founded way back when. It was about 20 some years ago. A lot of CPA firms now you use that type of a service. Jody Grundon [00:01:31]: I actually founded it back, you know, 20 plus years ago. So it's been a great ride. Before it was, before it was even a thing. Yeah, it was one of those, one of those things that there was something called outsourced CFO or outsourced CPA service, which was outsourcing it to a foreign country type of thing. And I'm like, well, that's not what I meant. So I'm trying to figure out how, what can I call it? And I, and so I did. I got the big, the thesaurus, if you remember one of those things. I got one of those things out. Jody Grundon [00:01:55]: I'm like, what could I, what could I name this thing? I thought virtual sounds kind of cool. And, and then my partner's like, well, no one will think you're real. And I'm like, ah, they will. It'll catch on. And back then we had the yellow pages and so we, we did the yellow page Thing didn't really get a whole lot of traction. And then we decided, hey, we're going to go this, do this on the Internet. And so when we did on the Internet, it was kind of cool because nobody else was doing it. So it was one of those things that we are right away number one in the rankings. Jody Grundon [00:02:21]: No, yeah, we. James Kademan [00:02:22]: Back 20 years ago, man, that's. Jody Grundon [00:02:24]: Yeah, yeah. And we have, we, we. We haven't gone far from that. So we're still number one in the rankings today, which...