February 6, 2025

The Hard Truth About Starting Your Own Business

In this episode of the Gross Profit Podcast, James delves into the journey of Eric Reinacher, owner and CEO of Sentinel Finance Group. Eric shares his experience transitioning from being a fractional CFO in California to starting his own business in Kansas City. They also discuss key insights such as protecting your equity while obtaining funding, and the balance between revenue growth and business efficiency. Tune in for a detailed look at the dynamics of starting anew, managing client relationships, and strategic financial planning.
The Gross Profit Podcast
The Gross Profit Podcast
The Hard Truth About Starting Your Own Business
Loading
/

Show Notes

In this episode, James Kennedy sits down with Eric Reinacher, CEO and founder of Sentinel Finance Group, to discuss the realities of starting and scaling a business.

Eric’s journey is a fascinating one—after years as a fractional CFO in California, he took a leap of faith and launched his own firm in Kansas City. Now, through Sentinel Finance Group, he helps business owners navigate complex financial decisions with expert CFO and controller services.

Starting a business is often romanticized, but Eric shares the hard truths—from the financial risks and equity pitfalls to the balancing act between revenue growth and operational efficiency. If you’re considering launching your own venture or are struggling to gain financial traction, this episode is packed with practical advice you can’t afford to miss.

What You’ll Learn:

🔹 The Realities of Entrepreneurship – Eric’s firsthand experience transitioning from employee to business owner.
🔹 Protecting Your Equity While Raising Capital – Why safeguarding your ownership stake is crucial when securing funding.
🔹 Balancing Revenue Growth and Business Efficiency – How sustainable financial strategies trump rapid but unstable expansion.
🔹 The Role of a Fractional CFO – Why many businesses benefit from outsourcing high-level financial leadership instead of hiring a full-time CFO.
🔹 Financial Pitfalls for New Business Owners – Common mistakes entrepreneurs make and how to avoid them.

Episode Highlights:

💬 “Starting your own business isn’t just about making money—it’s about making the right financial decisions that ensure long-term success.” – Eric Reinacher

💬 “Too many founders give away too much equity too early. You have to think strategically about how to structure funding.”

💬 “A business isn’t just about revenue growth—it’s about financial health, stability, and having a clear long-term vision.”

Beyond Sentinel Finance Group, Eric has played a critical role in helping Kansas City businesses grow and thrive. His expertise in financial strategy, process improvement, and leadership makes him a sought-after advisor for companies looking to scale sustainably.

The Gross Profit Podcast

More Episodes

Merushka Chetty

Hillel Steiner – This Israeli CFO Secret Could Double Your Profits

This week James sits down with Hillel Steiner, founder of ProfitUp Financials and a fractional CFO based in Israel, to discuss the surprising advantages of working with international finance talent. Together, they dive into the differences between U.S. and Israeli business cultures, what founders often get wrong about funding, and how having a strong financial strategy can be the difference between staying stuck and scaling up.
Hillel also walks through a real-life case study of a BI company stuck in a high-revenue, low-profit cycle – and how he helped them transform by refocusing their service model and aligning their team more efficiently.
Stick around to the end for a massive bonus offer from Hillel that’s perfect for growing service-based companies.

Listen Now »
Merushka Chetty

Patrick Arnold – 7M Sales, Zero Profit: The Fix 

This week James sits down with Patrick Arnold, Director of Client Advisory Services at Elliott Davis, to explore the power of Client Advisory Services (CAS) and its game-changing impact on business profitability. Patrick shares an engaging case study of how he helped a golf cart business in South Carolina go from stagnant growth to seven-figure annual distributions – all by optimizing inventory, restructuring financial processes, and leveraging technology for smarter decision-making.
They also dive into the role of CAS in modern accounting, the evolution of public accounting firms to include more strategic, forward-thinking advisory, and how business owners can unlock hidden cash flow by better managing working capital.

Listen Now »
Merushka Chetty

Chris May – Fake CFOs Exposed: How to Spot the Difference

This week James sits down with Chris May, founder and CEO of Quadrant Advisory, to explore what separates real CFO strategy from everyday accounting. From turning around a $50M political consulting firm to navigating tricky incumbent finance teams, Chris shares practical advice for business leaders and fractional CFOs alike.
Together, they unpack key finance tools like sensitivity analysis, working capital management, and how to tell whether your books are just “done” – or actually useful. Chris also walks us through his own acquisition of a bookkeeping SaaS and what it taught him about keeping services laser-focused.

Listen Now »