Episode 16: The Real Cost of a Poor Hire Ft. Dave Fox

“I think most business owners in the beginning, just do a little bit of everything, right? Jack of all trades. You get to a point where it's the opportunity cost.

I can continue to do my own invoicing and continue to do the things that I'm doing but I'm missing out on opportunity costs to be working on the business, out making the sales or networking connections, and things like that. So, I think that all entrepreneurs have that similar journey where you get to a point where you're like, wait a minute, this doesn't make sense for me to keep doing it.

And then you start bringing in experts in that role.”

• Andrea Jenson

Welcome to a brand new episode of the Cash Flow CFO Podcast. Joining me today is Dave Fox, the founder, and CEO of Focus Global Talent Solutions, who serves the Fortune 500 market by offering specialized IT talent in data science, cloud computing, artificial intelligence, and digital marketing. In addition, Dave is a certified NFT specialist and a blockchain enthusiast.

We'll discuss various topics, including the most essential lessons Dave had learned over the past five years and some of the issues he was dealing with when he decided to hire a part-time CFO. Hiring a fractional CFO has been an effective way for many businesses to get a senior executive's knowledge and direction while navigating challenging situations. A fractional CFO might take on duties like creating the company's financial planning, managing cash flow, raising money, and producing financial results, among others, because this specialist will oversee the organization's economic well-being.

In this episode, we'll also talk about how a fractional CFO benefited Dave's firm and how crucial funding is as the organization enters the muddy middle (2 to 5 million range), and much more!

Join us to learn the whole story!