00;00;00;00 - 00;00;23;13

Unknown

Welcome to the Profit First for Real Estate Investors podcast. This series is the simple CFO Case Files, where our CFOs break down real client scenarios, financial systems and practical decisions from inside the business. Enjoy the episode.

00;00;23;16 - 00;00;45;08

Unknown

When you join CFO, you don't just get a CFO, you get someone whose entire job is to be in your corner. From the moment you sign through every milestone and every hard moment in between. Most financial firms hand you often hope for the best, but something we do differently. We built a role that exists for one reason to make sure you, the client, are always seen, always heard, and always support it.

00;00;45;09 - 00;01;06;27

Unknown

I'm Christina SEO, partner at simple CFO solutions, and this is the simple CFO Case Files. And today we're sitting down with Stacey. Innings our client successfully. And honestly, our client's biggest advocate, Stacey has been with simple CFO for two years. She's our first voice that the clients here. And after they say yes during the discovery call. She runs the onboarding call.

00;01;06;27 - 00;01;27;10

Unknown

She presents the roadmap. She checks in at 30 days with the clients every quarter after that. She really is their biggest advocate. And when things get hard, clients pause, clients cancel. Stacey is still there. She shows up for everything and she is always in their corner because that is exactly what a client advocate does. So Stacey, thank you for being here.

00;01;27;12 - 00;01;47;27

Unknown

Thanks for having me. All right. So quick snapshot. You've onboarded a lot of clients over the last two years. So without naming, names are being super specific. Give me one sentence on what clients feel walking into that first call with you, and then one sentence for what they feel walking out.

00;01;47;29 - 00;02;08;27

Unknown

Coming in. Apprehension is the one word that I would use. They're often unsure of what they don't know and whether this is the right step for their business. And I would say walking out one word would be relief.

00;02;09;00 - 00;02;29;03

Unknown

That's great. I couldn't have chose to better words. Those are good words. And I think that does sum it up because they don't know what they're getting into. When you when you sign on, it sounds great. It really is good. Having someone like you to jump in and be in their corner and talk them through it could give them that relief to start the process.

00;02;29;03 - 00;02;53;28

Unknown

And I'm sure they've said it. Words that they're super relieved or thank you for having this call. Yeah. Awesome. All right. So client just got off the sales call. They've signed a little nervous which rolling right into what you just said. They're little nervous, maybe wondering what did I just commit to? So going from apprehension to relief. What?

00;02;53;28 - 00;03;24;08

Unknown

Your job in that moment. How do you set the tone for them going into that call? So my role in that moment is to reinforce why they came to us and help them feel confident in that decision that they just made. I make sure that they understand how the partnership works, how we fit into the existing financial team that they've already formed, and how the support will bring clarity to the business decisions because they come to us without that clarity.

00;03;24;15 - 00;03;55;04

Unknown

I always review the discovery call beforehand, so that way they don't have to repeat themselves so much. And then immediately in my eye shows them that there is a team behind them that's fully invested to their success. That's great. And what are they normally respond with? What's some typical responses you get to that? Normally they're they're excited to to hear what is in store for them.

00;03;55;06 - 00;04;14;17

Unknown

They almost see this as a new chapter for their business. Great. I'm glad we can give that to him. To them. All right, so walk me through that first call. What does the client experience start to finish? And more. So you've kind of touched on that a little bit, but more so what is a successful call look like.

00;04;14;17 - 00;04;52;16

Unknown

Not just the process but for the client. What do you define as success. So a successful call is when the client leaves feeling confident that they're in the right place at the right time for their business, that will lead them on a clear path forward. My goal is to help them better understand why they reached out to us in the first place, and connect what we do to the needs of their business, and show them that this partnership supports both their business goals and their personal priorities that tie them together.

00;04;52;18 - 00;05;18;26

Unknown

When a client finishes, they feel clear on what we do, how we fit into that role, and they're more confident in their decision. They're more reassured that they now have a partner that is going to help them meet those personal and business goals that they have set. That's awesome. And I'm glad because, you know, we know in onward and call, you go through a lot of things.

00;05;18;26 - 00;05;39;08

Unknown

So it's not just about their commitment to us, it's about our commitment to them. It's about the agreement that goes, you know, between the two of us. So on this call, I know you're presenting our roadmap, which we've had the roadmap in place for a few years, and then we've constantly made it better just by the delivery, not necessarily changing the roadmap, because that's what we do.

00;05;39;08 - 00;06;24;29

Unknown

But making it better by making our CFO is better. So as you're presenting the CFO roadmap for someone that has never even had a financial plan, never even seen something like this before. I've heard the words of like, wow, it's so organized. So what does it do for them to actually see the full picture? Clients love it. Honestly, they really value seeing this roadmap because it shows them that there is a structured, intentional plan that's going to help them get that clarity that they've been looking for some of them since the start of their business, and some of them just, you know, since they made a bad decision that has taken their business in a

00;06;24;29 - 00;06;44;08

Unknown

different direction. And this moves them to being more confident because they're going to be able to make more strategically stout, strategically sound decisions that real fast. Three times you first.

00;06;44;10 - 00;07;07;09

Unknown

So for many of them, this is the first time that they're clearly seeing all the pieces connect and understand what that path forward is and what it looks like. And when you have a roadmap that details it out, that just gives them a strong sense of direction and reassurance. That definitely does. And everybody wants a good illustrative right.

00;07;07;10 - 00;07;27;22

Unknown

So you everyone wants a good picture. It's like our dashboard having graphs on it. Everyone wants to see a graph of what's they don't want to read through a big book. They don't want to read through a spreadsheet. A lot of people take to, you know, illustrated and we're in pictures and graphs. So it's good that when you first show them the roadmap, you know.

00;07;27;24 - 00;08;04;26

Unknown

Are they wow, that's cool or that's excited or they just clued in to exactly what you're talking about in that roadmap. They're they're clued in. Definitely. I mean, every once in a while, you get that one client that starts off where they're not as engaged. Maybe it's because they're still reeling in their mind. Like, I don't know if I made the right decision and they just, you know, they're they got a hamster up there just on that wheel and they're not focused on what I'm showing them, but usually by the end.

00;08;04;29 - 00;08;28;07

Unknown

I've reeled them in and they're on board. They understand why they're there, that because I've hit on something in that roadmap that has been plaguing them, or that sent them to us in the first place. And really, that's all it is, is just touching that point and bringing them back in to, oh, that's right. That's why I'm here.

00;08;28;07 - 00;08;52;09

Unknown

I should probably pay attention. That's a good point because the onboarding call, it's you know, they might have said, yes, most people book. I think you'll agree with me that most people, once they say yes from a sales call, they're usually booking their onboarding call, like sometimes within 24 hours. Or they want to book at the same day because they're so excited or a week and then they forgot what they even signed up for.

00;08;52;12 - 00;09;11;29

Unknown

Yeah. So it's good that, you know, that we have this position available, that you can come in and kind of ease their mind, talks them through what it looks like, and then remind them what type of relief they are going to get, what their next process is. And so you go even further than that. So the onboarding call happens, right?

00;09;12;00 - 00;09;47;08

Unknown

So let's just add a little bit in between what happens after the onboarding call on your side. What happens after is check ins checking in with the client to make sure that we made the right. How do you know take it a step back. How do you know after the onboarding call where they go, what CFO like? How important is it to you after that ongoing call to get them to the right CFO?

00;09;47;11 - 00;10;29;17

Unknown

So we listen, obviously to what their business needs are, what industry they're in are in our niche is the the real estate world. But we have a variety of clients. So and we have a variety of experience CFOs as well, that it's not just the real estate world, but not just business needs. It's also personality. I like and talking to them, pull out some things that I know will mesh really well with some of the personalities of the CFO that we have, because we have an array of personalities on our team.

00;10;29;17 - 00;10;52;15

Unknown

So having that available to us, it just makes sense that we would try to tie our clients to that. And I think we do a pretty good job. I think we do too. And I think you serve as a really good liaison between CFOs and clients. So that gives you the perfect opportunity to stay on their side and to advocate for them.

00;10;52;15 - 00;11;16;22

Unknown

So fast forward to client to you check ins, because we don't just stop there because why stop there? Because we can't be a client advocate if we're not fully involved in the process. So at 30 days, if not before, but at least at 30 days, you go check in with every single client. And this is so important because you're not just checking in on behalf of simple CFO, you're checking in on behalf of the client.

00;11;16;22 - 00;11;46;02

Unknown

So talk to me about when you do that 30 day checking. What are you listening for? What does that call tell you about what we're truly delivering to them? So at the 30 day mark, this is really where we learn whether we have created the right partnership for this client we're listening for, whether the CFO we paired them with is the right fit, not just from technical standpoint, but also from a communication and trust standpoint as well.

00;11;46;07 - 00;12;12;13

Unknown

We want to understand how they're feeling about the experience so far, whether there's still any lack of clarity around priorities or financial direction and whether they feel supported. It's also an opportunity for us to reinforce that this is a true partnership, that we're committed to their success, and we want to ensure they feel confident that we're helping them move the business forward.

00;12;12;15 - 00;12;40;24

Unknown

That's a good point, right? Because 30 days you should feel something different. So in that 30 day call, do you have I know you got apprehension. You got relief. Is there a word that you could describe for that 30 day check in? I'm challenging you here a little bit. Get on.

00;12;40;26 - 00;12;44;03

Unknown

So.

00;12;44;06 - 00;13;10;02

Unknown

You know, the word that I would use would be excited. I know that coming into the sales call with David, you know, and ending it, I see I see some excitement brewing that they've, you know, yes, I'm hearing everything that I need to hear and I feel like I'm at the right place. And but as you said, some of them, it could be weeks before they get that onboarding call scheduled.

00;13;10;02 - 00;13;33;02

Unknown

And sometimes, you know, for backup, for lack of better phrase, buyer's remorse. You know, all the sudden they forget why they made that phone call, why they had that discovery call with David. So when they do come to the onboarding call, it's it's up to me to, to reel that back in. Which is why watching the discovery calls is so important.

00;13;33;02 - 00;13;58;09

Unknown

So I know why they're there. And I can reiterate that information to them to say, hey, this is why you came to us in the first place. This is how we build those gaps. This is how we get you to that end game that you talk so excitedly about what, David, you will only feel that excitement and know exactly what that excitement means to you when you hit it.

00;13;58;10 - 00;14;29;26

Unknown

Partnering with us is going to get you to that point. So it's up to me to make sure that they get there. And I think after the onboarding call and after that battle plan call with the CFO and getting fully integrated into the system after that 30 days, that excitement hits for real, where they really feel like I am doing this, I am making it happen, and it's great.

00;14;29;28 - 00;14;51;20

Unknown

That's very heartfelt. I can actually tell you, you're super excited when that happens. So I can feel the emotion coming through. And I know that you spend a lot of time staying close to these clients, and they'll call you and they trust you and you're building that trust. So at this point, you know, I would say once you're checking in at that 30 days, you have built a pretty good bond on the ones that you've spoken to.

00;14;51;22 - 00;15;11;21

Unknown

So you continue to stay close. And then after that you would do a quarterly check in unless you need to check in beforehand. So let's make sure that that's in there too. Like you're always on their side. So if they email you or email any department or the CFO reaches out and says, you know, this is happening, can you touch base with them?

00;15;11;21 - 00;15;33;07

Unknown

You're always willing to jump in and touch base to be able to talk to them throughout their entire engagement. So at at 30, at at 90 days, I guess it would be at the quarterly post. That's that's a touch point. But why is it important to wait that whole quarter? And what does it do for a client to know that someone's always going to come back?

00;15;33;07 - 00;16;02;20

Unknown

And when you're checking in to ask other doing well, it matters because the client knows that they're not on an island alone, which is something that's very important to us. They have a partner who is consistently present and invested in their success, present being the operative word that we're not just a logo. And those ongoing touchpoints reinforce. When we say this is a partnership, we truly mean it.

00;16;02;21 - 00;16;24;14

Unknown

We're committed to long term, and that commitment shows up in our actions. It gives clients that confidence that someone is continually looking out for their business and not just the CFO, but the whole team behind the CFO, and it helps them stay aligned, you know, holds them accountable and make sure that they always have the support they need.

00;16;24;17 - 00;16;41;14

Unknown

Yeah, absolutely. I mean, there's there's no end to when you check into people, I mean, checking with people. I mean, there's clients that have been with us for, you know, four years that you still check in with. Now, they may be super excited and on such a great road that they don't call you back as much. But those are ones that have given us testimonials.

00;16;41;14 - 00;17;10;01

Unknown

And they're really they're pro simple CFO. They are doing whatever they can to maintain the partnership. So that's the good side. All right. So let's say get another job because we we know there's there's always going to be, you know, problems issues money things. You know there's the businesses go up and down and we know that. And having a financial advisor on your side is key to stopping that roller coaster in your business.

00;17;10;01 - 00;17;32;14

Unknown

But that doesn't mean that a client can't get in our own head or personal problems happen. I mean, I could say a lot of them. I'm sure you could bring a lot of them into, but that's that's the not, I would say, not so fun part, because I know it's still fun for you because we've had the conversations when you finally do get when you check in with them and you get to hear what's going on, but they'll come.

00;17;32;16 - 00;17;51;10

Unknown

Sometimes they'll pause. So life happens, business gets hard. Things shift, things move. We don't just let them go, they don't show up. And then we're just like, well, if you're not going to show up, you know that's important to us. So we we keep showing up. You keep showing up. So what does it look like when clients you know are quiet or gone?

00;17;51;10 - 00;18;18;04

Unknown

Pause. And why does it matter to you personally? Because I know this is very personal to you, to stay in their corner even when they pause or when their engagement is on hold. Well, like you said, life happens and business isn't the only thing that gets hard. Life gets hard. And sometimes what clients need most during a pause is simply just knowing that they still have someone in their corner.

00;18;18;05 - 00;18;42;26

Unknown

So that's where I come in, and in those conversations, we're often providing an unbiased perspective. We're helping them think through challenges, gently keeping them accountable. Even if they feel a bit off track, because we know that they're not on track because they're not working with their CFO if they're on pause. But, you know, we've all experienced seasons where things didn't go as planned.

00;18;42;26 - 00;19;12;06

Unknown

So we understand how important it is to have someone who continues to show up and help you to move forward, keep moving forward, and staying connected reinforces that it's a true partnership and that we're still committed to their success, not just when they're active, but also when they're not. And when they're ready to reengage. They know they're not doing it alone.

00;19;12;08 - 00;19;32;24

Unknown

And sometimes it feels like we help them more in those times. Right? Because even the CFOs and I know this personally, you know, out of all the CFOs that we have, even our CFOs will touch base with them, because once you form a relationship, you don't want to just let them go and not help them. So we'll still touch out, touch reach base, touch base.

00;19;32;24 - 00;19;56;28

Unknown

I don't know what I'm saying. We'll still reach out to them. What? Still make sure we're talking to them. And on top of that, you're reaching out to them and you're talking to them too. So they feel that. All right, well, you know, they're not I'm not paying or I'm dealing with this hardship and they care. I think that's what they get out of the the touching base when when they're a little disengaged on the business side.

00;19;56;28 - 00;20;21;16

Unknown

But we're still there for them. Would you agree? Oh, absolutely. All right. And so, you know, there's times to where a client cancels. I always say that I don't ever want a client to cancel unless they hire their own CFO in process, or they sell their business and just don't want to do the business anymore. There's only times I really want to see them cancel, but we know things happen.

00;20;21;18 - 00;20;41;08

Unknown

Like you said, life gets hard, things happen and they may just go a different route. So even when a client cancels, you're still reaching out. So sometimes it's like I'm canceling. Stop. You know, I don't want to be billed and it's kind of just an email. A lot of people don't want to have that face to face conversation because they don't really know how to handle it.

00;20;41;08 - 00;20;56;10

Unknown

But we're not going to shy away from it because we want them to know that we want to talk to you. We want your feedback. We want to know what happened. We want to know how everything went at least while you were here. So most companies don't do that. So talk to me about that conversation. What are you trying to understand?

00;20;56;16 - 00;21;32;05

Unknown

What does it actually mean to to the client? Simple CFO to talk to them even after they've left or as they're leaving? Well, like you said, clients do leave for many different reasons, whether it's a financial situation changes or sometimes leadership or partnership structure shift, and sometimes they've grown to the point where they need to bring the role in house, and sometimes they get to where they don't feel like they're in the right place at the right time anymore.

00;21;32;07 - 00;22;10;16

Unknown

That even, even though they're interested, have switched, that are because their interests have shift. Maybe they need to make some changes in other places as well, meaning the CFO seat. And but the only way that we truly understand is by having the conversation. And we want to learn what changed, what could we have done better, whether there is still a way to support them, whether it means adjusting the scope, moving to a lighter level of support, or simply pausing them until the timing is right.

00;22;10;19 - 00;22;44;11

Unknown

And if the partnership genuinely isn't the right fit, then that feedback is valuable to us. We need to know where did we fall short? What could we have done better because it only helps us improve to serve our clients. And we we reach out after every cancellation to get this feedback. Positive, negative, indifferent. Even if they have nothing to say, we we still want to reach out.

00;22;44;11 - 00;23;12;25

Unknown

We want to know if there's anything that we can do better. And how do you prove to them during that call that you genuinely do care, like it's not just about keeping them as a client? How what makes us different that we genuinely care, getting to the core of it. Because sometimes they don't even know why. Sometimes it was just an instinct move because they didn't know what else to do.

00;23;12;26 - 00;23;43;28

Unknown

They were stuck in a situation and pivot led them to start canceling stuff. But maybe canceling wasn't the right thing to do. Maybe they still need that person in their corner to help get them through the time that they're in. And that's that's hard to help them understand, especially if they're in financial dire straits. Because all of us, you know, when you don't have enough money for that cheeseburger that you want.

00;23;43;29 - 00;24;02;15

Unknown

Well, what are you going to do? I mean, you're going to find a way to get that cheeseburger one way or another. You're going to find a way to do it. And if that means, you know, deciding not to get the fries because you still get that cheeseburger, well, that's what you're going to do. And same thing happens here.

00;24;02;16 - 00;24;25;10

Unknown

They let certain things go so they can focus on whatever direction they're going. And sometimes they don't realize that that's not a good direction to go or that's not a good place for your focus to be, which is why they still need us in, in their corner. So getting to the core of why they made this decision, I think is important to help them make that decision moving forward.

00;24;25;10 - 00;24;49;23

Unknown

And if it turns out that this is this is the right decision for them right now, and we move from there. Yeah, I couldn't have said any better. So that's, you know, you just wrapped up everything that they do, how we assist them, their fear, their worries, how happy and excited they can be. So let's let's wrap it up with give me one moment a client reaction.

00;24;49;26 - 00;25;02;23

Unknown

Something someone said to you, a call, a message you received. Just something that captured why your work matters. Something that I just as always, stuck with you. And a few of them if you have them.

00;25;02;26 - 00;25;40;21

Unknown

Well, I have one moment that is really stuck with me. So we had a client, he completed our 60 day program. He truly wanted to keep working with the CFO on an ongoing basis, but financially he just wasn't there yet. So I have continued to check in with him every 45 to 60 days. Not to sell, but simply just to check in, see how things are going here about the project, progress that he's making in his business, and acknowledge any wins that he's had along the way.

00;25;40;23 - 00;26;16;16

Unknown

He always takes my call, and he is incredibly appreciative that I took the time to reach out to him. And it's moments like that that really remind me why this matters and why I enjoy what I do, and that it's it's a partnership that doesn't just apply when a client is actively engaged. It's also a partnership on the other side, which provides them with the encouragement perspective and reinforces that they're not navigating this all alone.

00;26;16;16 - 00;26;49;15

Unknown

They're not just because they're not engaged, doesn't mean that now they're back on that island. They're not on that island. They're still here with us. We are still here to support them, and the relationship still matters. And we are going to consistently keep checking in with them to help them move forward, whether they become and this is, you know, for him, you know, I always make him understand that it I'm not doing this because I expect you to be a future client.

00;26;49;16 - 00;27;24;23

Unknown

I'm doing this because you are still a client to us. And I just really enjoy those phone calls. Every time I call, it's hey, Stacy. He knows immediately the number like he has me stored. And I love that. That's awesome. I love I love that story. I love when people, you know, behave and return that the same feeling that you have that way it instead of pulling a whole new other instance in just to get an example as we wrap this up, is there?

00;27;24;24 - 00;27;51;23

Unknown

Do you remember how he came in to simple CFO? So we can kind of pull this full picture together? And I remember he he was a bit I think he was a bit disjointed. He was new to the industry. So he didn't have all the pieces, didn't know where he was financially, didn't know how to put the pieces together, which is why the 60 day program was what was recommended to him.

00;27;51;23 - 00;28;20;26

Unknown

And starting out, he didn't have a whole lot of revenue, so he did. He did the 60 day program. He was able to get that clarity that he needed, put some processes in place that he desperately needed, and that that is how he has been able to keep pushing forward, even though he's still not there financially to support a CFO position in his business right now.

00;28;20;28 - 00;28;47;08

Unknown

But last time I talked to him, which was about 2 or 3 weeks ago, I always lose time. My husband says I am the worst. I think it would just happened yesterday when it was actually three years ago. But it was. It was at least a few weeks ago. And he is making strides, and it's exciting to see that he is moving it forward.

00;28;47;08 - 00;29;14;05

Unknown

He is putting the work in. That's awesome. And that is what it means. Yeah, and that is what it means to have a client advocate, not just someone who answers emails, types things back. Someone who genuinely, consistently, unconditionally cares and is in your corner from day one through every season of your business. Not just when you're a client, not just when things are going well, not just when things are going bad.

00;29;14;05 - 00;29;32;23

Unknown

And we just need to finish it out like we're always there for you. So if you're a simple CFO client and listening right now, Stacy's always in your corner. If you don't know now, you know, it's not just a tagline, it's her job she takes. As you can see, she takes it very seriously. And if you're not a client, maybe you're thinking, I have revenue.

00;29;32;23 - 00;29;51;06

Unknown

I don't know where cash is going. You've heard it all before, or I can't find myself broke. You know, you just don't want. You just don't know what to do. But you really need someone that has your back. You come in, you get the full onboarding process. You get to learn, Stacy. You get to get your own CFO, but still have Stacy in your corner.

00;29;51;06 - 00;30;10;10

Unknown

So we operate as a huge team. We're all a family here. So if you feel that way, are you really just want to reach out to us? Or maybe you just want to talk to Stacy because she's so much fun? Com book a discovery call and let's see if we can get you started and see if we can figure out where your business is and what you need.

00;30;10;12 - 00;30;28;08

Unknown

So you guys in the next one. Thank you for listening. And thank you. Stacy, for being here. Thank you. Thanks for listening to the simple CFO case files on the Profit First for Real Estate Investors podcast. If you found this helpful, make sure you're subscribed so you don't miss our guest interviews featuring other real estate investors and our profit first chats with David Richter.

00;30;28;11 - 00;30;35;13

Unknown

If you're ready to bring clarity and structure to the finances in your business, visit profitrei.com. To apply for a free financial discovery, call with our team.