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October 24, 2024

No-Nonsense Insights from a Fractional CFO

In the latest episode of the Gross Profit Podcast, James gets advice from Justine Lemanowicz on how to structure his company’s shift from product-based offerings to building a professional services wing. Justine, Owner and Fractional CFO from Fit2Grow CFO Solutions, shares how to build a profitable professional services business by aligning financial structures, using the right accounting practices, and motivating teams with the right incentives.
The Gross Profit Podcast
The Gross Profit Podcast
No-Nonsense Insights from a Fractional CFO
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  • 45 mins
  • 2024-10-24 13:06:51
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Show Notes

In this episode of The Gross Profit Podcast, host James Kennedy sits down with Justine Lemanowicz, Owner and Fractional CFO at Fit2Grow CFO Solutions, to explore how businesses can successfully shift from product-based offerings to building a profitable professional services wing. Justine brings over two decades of experience in accounting and finance, offering invaluable insights into structuring financial systems, optimizing cash flow, and motivating teams as you expand into professional services.

Throughout this episode, James and Justine discuss strategies for aligning financial structures with new business goals, setting the foundation for scalable growth, and ensuring profitability as companies diversify their offerings.

Episode Highlights:

  • Shifting to Professional Services: Justine shares how to strategically transition from a product-based business to a professional services model, ensuring financial alignment and a smooth transition.
  • Building a Profitable Services Business: Learn how Justine helps small and mid-market firms optimize profitability through custom financial models and strategic planning.
  • Financial Structures for Success: The importance of creating and maintaining efficient financial systems to ensure healthy cash flow, manage debt, and accurately forecast future performance.
  • Motivating Your Team: Justine explains how to incentivize your teams effectively to drive the success of your new professional services wing, ensuring everyone is aligned with business goals.

What You’ll Learn:

  • Optimizing Cash Flow: Justine discusses how to manage cash flow effectively during periods of transition and growth, providing strategies to maintain steady, positive cash flow streams.
  • Key Financial KPIs for Growth: How to set and track the right KPIs for a professional services business, from gross margin alignment to consistent cash flow.
  • Overcoming Financial Hurdles: Justine shares how Fit2Grow helps businesses address financial challenges, such as handling bank audits, inaccurate financial statements, and debt management.
  • Strategic Financial Leadership: Why businesses need a finance leader focused on long-term strategy, and how fractional CFOs like Justine can offer high-level expertise without the cost of a full-time CFO.

About Fit2Grow CFO Solutions:

Fit2Grow CFO Solutions partners with small and mid-market organizations to provide scalable financial oversight, guidance, and advice. Their mission is to drive growth, profitability, and financial success for their clients through customized financial solutions and strategic planning.

With values centered on integrity, transparency, and accountability, Fit2Grow offers a trusted partnership for businesses looking to grow and thrive. Justine and her team focus on creating custom financial models and implementing strategies that help companies optimize their cash flow, increase profitability, and plan for sustainable long-term growth.

This podcast is tagged under:

The Gross Profit Podcast

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