The CPA Marketing Genius Podcast

Episode 043: 43 Why Business Owners Need a CFO with Adam Lean

Episode Summary

How can you create financial stability for yourself and your clients? In this episode, Salim Omar, CPA interviews Adam Lean, Adam is a former accountant turned 2-time entrepreneur who built, scaled, and sold two businesses. While helping other business owners, he realized his passion was teaching and providing tools to business owners to help them make more money and have a peace-of-mind. He is the CEO of TheCFOProject.com which trains accountants and bookkeepers on how to offer outsourced CFO and business advisory services. Another value-bomb episode so make sure you tune in till the end!

Episode Notes

[00:01 - 01:10] Opening Segment 

• Salim Omar, CPA introduces Adam Lean to the show!
• Adam Lean is a former accountant, turned two-time entrepreneur who built, scaled, and sold two businesses
• He is the CEO of TheCFOProject.com

[01:11 – 07:43] Improving Revenue, Profit, and Cash Flow With A CFO

• Most businesses owners rely on their accountant or bookkeeper to understand numbers as they don’t want to understand it themselves
• Business owners need help understanding cash flow and other accounting concepts
• Accountants are uniquely placed to help business owners
• Accountants need to learn how to forecast and understand the main drivers of a business in order to provide forward-looking advice

[07:44 – 15:44] Why Business Owners Need A CFO

• Accountants must be able to follow up with clients throughout the month to ensure they are taking action
• All business owners want someone they trust to help them with their business
• Accountants prioritize urgent tasks over important ones
• Accountants can package service as one or hire people under them to do tax returns and bookkeeping

[15:45 - 22:42] Closing Segment

• Adam Lean shares his insights on creating financial stability with the use of a CFO for your business!
• Salim Omar, CPA invites listeners to reach out through the website, https://www.cpamarketinggenius.com/our-team!  
• Final Words

Connect with Adam Lean on his:

Website: The CFO Project

LinkedIn: Adam Lean

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If you would check out Dr. Michael Useem's book "The Edge" for yourself, visit mikeuseem.com

Thanks for tuning in! We’ll see you next time on the CPA Marketing Genius Podcast.

Tweetable Quotes 

“It's not enough just to understand all the technical sides of being a CFO. You also have to understand what we call the soft sides of being a CFO. You have to understand how to talk to business owners and a way to get them to take action. You have to understand how to make plans.” - Adam Lean

"Every business wants somebody that they trust. And if you're already their accountant, they trust you. They inherently trust you and if you come to them and say, “Hey, I was going through your tax return, I was going through your books, and I noticed I spotted some red flags and I spotted some opportunities for growth.” Can we get on a call tomorrow or next week? Who's going to say no to that? So, they're all going to be interested, and because they already trust you." - Adam Lean

“I feel the accountant is very uniquely placed with a lot of trusts, a lot of relationships that they've got, and a really a look in the inside. And if they can then utilize their observation and bringing into the business owner in terms of what they need to do going forward to make their business better and more efficient and so forth.” – Salim Omar, CPA