FractionalFinance @Finance_4hire Twitter profile | Pikagi

Pikagi

FractionalFinance

@Finance_4hire

1,661

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760

Following

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15 years across Investment Banking and Corp Finance | Building a Fractional CFO & Freelance FP&A Practice

https://t.co/FJzdLMRWUj

Joined July 2023

Don't wanna be here? Send us removal request.

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@Finance_4hire

FractionalFinance

2 months

Over the past 6 months, we have: 1-Turned profitable 2-Automated weekly KPI dashboards 3-Transitioned to Accrual Accounting 4-Built a 10-day monthly close process 5-Improved Cash Conversion Cycle 6-Reduce the chart of accounts lines by >half (And started recording

@Finance_4hire

FractionalFinance

7 months

Working with a new client. They have 32 Trucks and a Plane. For years they have not recorded any depreciation. If you have assets, don't overpay taxes by not benefiting from depreciation.

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@Finance_4hire

FractionalFinance

7 months

@SuccessWithJake Wild! Just think - What would the IRS do? D) Cash it. Hit them with a 2% bounce back fee. Re-issue the original invoice with a % increase for being late and another invoice for the bounce back fee of $691k.

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@Finance_4hire

FractionalFinance

6 months

What your Business Review cadence should be: Weekly: Sales & COGS Volume & Pricing Aging A/R Cash Balances Monthly: Full P&L Working Capital Free Cash Flow Major Spend items Investor/BoD update Quarterly: 3 statement Key employee performance Yearly: Budgets FTE Planning

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@Finance_4hire

FractionalFinance

5 months

You don't need a Fractional CFO. You need a bookkeeper and a few hours of work from someone who knows the basics of FP&A.

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@Finance_4hire

FractionalFinance

4 months

Two types of people in this world: 1) "Let's do any time after 3:00 pm today." 2) "How about three Thursdays from now at 11:15 am?" Be the first. Get it done.

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@Finance_4hire

FractionalFinance

6 months

If your finance guy uses a Mac, you’ve got a problem.

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@Finance_4hire

FractionalFinance

7 months

Most people in finance don’t know how to build a dynamic three-statement model, even though the company they work for publishes one every three months. It should be a mandatory exercise during any finance or accounting analyst's first year with a public company.

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@Finance_4hire

FractionalFinance

6 months

A lot of questions recently about leads in fractional finance. Here’s my journey breakdown. Three years ago I set up a Financial Analyst profile on Upwork to fill time on slow days... Since then, I’ve left a W2 and have worked with 44 different companies in various

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@Finance_4hire

FractionalFinance

7 months

I built my Fractional CFO biz while working a 9-5 If building while W2ing: -Work quality can’t fall -Before/After 9-5 for deep side work -Manage Cal aggressively -Know the best conf rooms for cross-work -Rule #1 of Fight Club My goal was 1-2 hrs of side work while on the clock

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@Finance_4hire

FractionalFinance

5 months

Here is why you should not include Working Capital in a firm purchase price when buying a business. Let's say you agree to buy a business for a firm $4.5m. The business is humming and the seller is ready to retire. But the deal could take a few months to finalize. This is where

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@Finance_4hire

FractionalFinance

6 months

Do you know how much your company: 1) Has in the bank 2) Spends on overhead/month 3) Needs in working capital 4) Will earn in the next 12 months If not, you probably need help with finance

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@Finance_4hire

FractionalFinance

7 months

Have an A+ employee? Hire support and invest in systems to take over the lower-value work that is holding them back.

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@Finance_4hire

FractionalFinance

5 months

If your finance team isn’t using Loom, they’re doing it wrong.

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@Finance_4hire

FractionalFinance

6 months

Most industries have large players that are public. If you run a business or are considering buying one, you should look at the quarterly results, review the IR decks, and listen to the conference calls of these public comps. Roofing = Beacon Insulation = TopBuild Recruitment

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@Finance_4hire

FractionalFinance

5 months

“Because that’s how it’s always been done” should never be an acceptable answer. In my first corp job, I got to the office at 6:30 every morning to update a report showing the prior day's billings and cash receipts. It “MUST” be delivered to leadership by 7 am. For the 6

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@Finance_4hire

FractionalFinance

5 months

Most companies should be using accrual accounting. Cash accounting is easier but gives you false information about performance. Cash vs. Accrual Accounting Levels of Understanding (using revenue): Beginner: Cash Accounting: Book it when you get money Accrual Accounting: Book it

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@Finance_4hire

FractionalFinance

3 months

Out of Office. Might be slow to respond to messages. 📍Banff, Canada

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@Finance_4hire

FractionalFinance

1 year

Big fan of =iferror(___,“-“) in models and analysis for formatting and presentation purposes. If you’re the same, don’t share anything without doing this first…. Ctrl + F #Ref Enter

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@Finance_4hire

FractionalFinance

8 months

Happy New Year! 2024 Business Goals: - Double Factional CFO business - Hire 2 new members to the team - Grow 𝕏 account to 2.5k - Transition from an anon account

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@Finance_4hire

FractionalFinance

5 months

Most of the 9-5 haters on 𝕏 likely work more than 40 hours a week. Don’t be fooled by the constant success stories posted. Most have an endless behind the scenes grind that isn’t talked about. (I can speak from experience while still online @ 9:30 on a Friday)

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@Finance_4hire

FractionalFinance

5 months

Sharing a file with a name like... “2024 Projections and Budget_Input 03-25-25_[Company Name] OpEx Plan V2_UPDATED 20240411v4 FTE Adjustment6.xls” ...looks sloppy and shows a team is unorganized. Here is how to avoid it: 1) Have 1 “Working Version” with an intuitive name and

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@Finance_4hire

FractionalFinance

6 months

We aim to close the books monthly by biz day 6 of the following month This takes >20 days for many companies, leaving little time to adapt Identify bottlenecks and break them down to automate the reporting process Finalizing Feb. close of >$5m revenues for clients by Friday

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@Finance_4hire

FractionalFinance

5 months

The phases of Finance 1) Reporting & Budgeting 2) Forecasting & Analysis 3) Strategic Planning These build upon each other, making data and reporting the foundation for the rest The goal is to get to #3 Without 1 & 2, 3 is guesswork at best If your Co. lacks in any, get help

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@Finance_4hire

FractionalFinance

4 months

Headcount Planning and Budgeting Basics: Employee Turnover = 15% Natural Attrition = 2% Time to Fill = 3 months Time to Ramp = 4 months Productivity in Ramp = 60% Promotions = 8% Avg. Raise = 4.6% Employer Payroll Tax (Federal) = 7.65%

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@Finance_4hire

FractionalFinance

7 months

Basis Points, "bps", or "bips" is fancy finance speak for describing a change between percentages 100 bps = 1% We do this because describing a % change of a % is confusing If the EBITDA margin was 20% and increased by 5%, is the margin now 25% or 21%? +500 bps is clearly 25%

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@Finance_4hire

FractionalFinance

6 months

Non-accountants trying to understand financials: Most of what you need lives in the General Ledger. Income Statement and Cash Flow Statement line items are simply the sum of the "Amount" column for any period. Balance Sheet items are the "Balance" after the last entry of the

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@Finance_4hire

FractionalFinance

5 months

Always assume your work will end up in the CEO’s hands. It might not. Likely won’t. But if it does… Will Elon Musk, Jamie Dimon, Reed Hastings, Daniel Ek, Mary Barra, Brian Chesky, or Aaron Levie think: “Wow this is great work, I want to meet _____” or “What is this mess"

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@Finance_4hire

FractionalFinance

8 months

@dig_deeper1 A great CPA advising on entity structure and tax strategy can save you a tremendous amount. If that applies here, likely worth every penny of that increase. If they’re just providing basic paperwork, shop around.

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@Finance_4hire

FractionalFinance

7 months

A pitch deck should be used to get you the meeting. Once face to face, tell the story, show your conviction, and maybe refer to a few key slides. Do not read them the deck.

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@Finance_4hire

FractionalFinance

6 months

@JasonHershman This tells us your work has been either focused on operational finance and not enough strategy/corp dev or evaluated one aspect of the biz instead of the whole picture. Understanding the returns of a major decision pushes the conversation from “Could we do X” to “Should we”.

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@Finance_4hire

FractionalFinance

6 months

Reviewing Accounts Receivable for a company, I found a contract with a minor typo...that has major implications. It was reviewed and signed by both sides months ago. If it's enforceable, it's a potential 6 figure mistake. It was agreed in discussion that late payments would

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@Finance_4hire

FractionalFinance

4 months

From a client call toady: "My accounting brain has been fighting with my finance brain on this.” - New accounting lead Accounting and Finance serve very different purposes. Finding someone who understands both can be a game changer. It has been for this 8 figure services Co.

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@Finance_4hire

FractionalFinance

6 months

What a CFO brings to the table: -Strategic Finance: Capital Allocation, Forecasting, Strategy, etc. -Cash Flow Management -Coordinating financial plans with ops & sales -Fund Raising & Investor Relations -M&A Execution -Tax Strategy What You Need: -Bookkeeping -Payroll Support -

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@Finance_4hire

FractionalFinance

5 months

Your NDA does not need a 5 year term.

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@Finance_4hire

FractionalFinance

10 months

Strong Financial Planning and Analysis (FP&A) leads to better strategic decision-making. The group helps guide a business with data-driven insights.

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@Finance_4hire

FractionalFinance

7 months

Just told a long-time client I’d need to raise my price by 30% to be able to keep their work a priority. I thought they’d push back hard. Said “no problem” instantly. Should have been more aggressive. Takeaway: Raise your prices

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@Finance_4hire

FractionalFinance

6 months

Nearly every business project boils down to 1 of 2 things: 1) Increasing Revenues 2) Cutting Cost Long term, accomplishing the first solves many more problems than the second. Being able to find ways to increase revenues will solve many more of your problems.

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@Finance_4hire

FractionalFinance

6 months

Don't underestimate the importance of emergency funds for your business. Holding cash reserves is often overlooked by SMB owners and not having these can become problematic quickly.

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@Finance_4hire

FractionalFinance

6 months

Understanding the numbers is a game-changer. You should be tracking key figures like sales trends, cash balances, and margins. Simple tools can be built and automated to give real-time actionable insights. This guides the biz, reduces risk, and helps owners sleep at night.

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@Finance_4hire

FractionalFinance

6 months

As a company scales, the role of CEO becomes more and more a financial job, about managing capital. If the business has crossed $5m you should understand the numbers inside and out, plus what it costs to grow. If you don't, you need a finance partner you trust wholeheartedly.

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@Finance_4hire

FractionalFinance

7 months

Margin and Markup are not the same thing. Make sure your sales team understands the difference or they’ll continuously miss your bottom line goals.

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@Finance_4hire

FractionalFinance

9 months

@realestatejayz They sold. Will be one of the tallest buildings In miami.

@MiamiCREGuy

Hugo | Miami Retail Guy

1 year

The StripMall Lottery Ticket Purchased in 2006 for $6,100,000 The site just got approved for 392 Units at 954 Ft. What do you think its worth today? Check out below: 2011 & Today Go Check it out yourself: 10 SW 8th St, Miami, FL 33130

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@Finance_4hire

FractionalFinance

5 months

P&L doesn’t need to be complicated. You need 4 line items and 3 calcs. 1) Revenue 2) - COGS ⎯⎯⎯⎯⎯⎯⎯ = Gross Profit 3) - Operating Expenses ⎯⎯⎯⎯⎯⎯⎯ = Operating Profit 4) - All Other Expenses/Income ⎯⎯⎯⎯⎯⎯⎯ = Net Income

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@Finance_4hire

FractionalFinance

1 year

My biggest client just got acquired, going to have some extra time on my hands. Time to share what I’ve learned over the past few years of freelancing as a Finance Exec.

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@Finance_4hire

FractionalFinance

3 months

+ Buying half the inventory twice as frequently will improve cash flow. ++ Buying half the inventory twice as frequently while also negotiating a bulk discount by committing to multiple buys will improve cash flow and margins.

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@Finance_4hire

FractionalFinance

6 months

Taking time upfront to build solid reporting (& quality books) gives the ability to track KPIs over any timeframe. This provides the info needed to adjust execution in real time. Typically, this visibility is what anyone asking for monthly forecasting is actually looking for.

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@Finance_4hire

FractionalFinance

8 months

@CTourtellotte You def can be overdressed Understanding the culture is part of being prepared Years ago I interviewed at a well-known tech co. Showed up in a suit & tie. Sat across from a confused panel of Tshirt wearing employees Interviews went great. Was told I was not a good cultural fit

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@Finance_4hire

FractionalFinance

1 year

@PrivatEquityGuy Simple....

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@Finance_4hire

FractionalFinance

7 months

Business day 5 of Feb. is the 7th. Business day 12 is Feb. 16th. You should be able to review January's financials by the 16th, at the latest. By the 7th if you have a great bookkeeping team. We will be leading January reviews for 6 companies this week.

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@Finance_4hire

FractionalFinance

7 months

It is easier to raise $20m for a $100m business than it is to raise $1.5m for a $7.5m business.

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@Finance_4hire

FractionalFinance

5 months

A Balance Sheet should not have any negative numbers under Assets or Liabilities.

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@Finance_4hire

FractionalFinance

6 months

Some customers, vendors, bosses, employees, brokers, bankers, partners, etc. are not worth working with. When you find yourself in this situation, remember that most industries are smaller than they seem. Burning a bridge might bring short-term satisfaction but typically comes

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@Finance_4hire

FractionalFinance

4 months

PE wants profit and cash flows VC wants growth and burn rate Angels want vision and potential RE wants IRR and development schedules Know who you're pitching to and what they care about.

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@Finance_4hire

FractionalFinance

6 months

Over the past two weeks, I've had the chance to connect with a handful of people I've met through 𝕏. These conversations made me even more motivated by the community on this platform. Looking to do much more of this. If you want to talk business and finance shoot me a message.

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@Finance_4hire

FractionalFinance

6 months

The hardest projects to complete are those with no real deadlines or urgency. The trick isn’t to set arbitrary deadlines. The trick is to find ways to spark urgency through rewards and recognition (and maybe some competition).

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@Finance_4hire

FractionalFinance

5 months

Finishing up the process of buying a new car and selling the old one. This is an awful customer experience. The biggest takeaways to apply to all businesses going forward…. Minimize surprises. No hidden fees.

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@Finance_4hire

FractionalFinance

8 months

Understanding finance and modeling skills are non-negotiables for anyone wanting to be in Finance. People skills and an ability to communicate/work a room are non-negotiables for anyone wanting to be a leader in finance.

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@Finance_4hire

FractionalFinance

6 months

Business owners should have, at a minimum, a target for Monthly Sales and Expenses. If your team doesn't know the sales target for March, they're 1/3 through a month of shooting in the dark toward their own made-up goals. Operating without spending guidelines and having to

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@Finance_4hire

FractionalFinance

4 months

When a deal seems too good to be true, get on a plane, kick some dirt, shake some hands, and find out what’s real. Will report back on this one.

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@Finance_4hire

FractionalFinance

4 months

Do you know how much your company: 1) Has in the bank 2) Spends on overhead/month 3) Needs in working capital 4) Will earn in the next 12 months 5) Generates returns over WACC If not, you probably need help with finance

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@Finance_4hire

FractionalFinance

5 months

I will not show gridlines in a presentation I will not show gridlines in a presentation I will not show gridlines in a presentation I will not show gridlines in a presentation I will not show gridlines in a presentation I will not show gridlines in a presentation

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@Finance_4hire

FractionalFinance

6 months

@LeadershipAcad1 Give them 3 months to get down to business day 5 of the month. But it’s a team effort to get there. Invoices, bills, expense reports, etc. all need to be turned in faster to get there.

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@Finance_4hire

FractionalFinance

5 months

There are many ways for finance to be a value driver instead of a cost center. Messages like this from clients show that there is so much low-hanging fruit for us to help make businesses more efficient.

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@Finance_4hire

FractionalFinance

1 year

P&L statement: Gross Sales - Discounts - Returns = Net Sales - COGS = Gross Profit - Sales & Marketing - Research & Dev - Gen & Admin - D&A = Operating Income - Interest = Pre-Tax Income - Tax = Net Income Different KPI's drive each Do you the KPIs driving your Biz?

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@Finance_4hire

FractionalFinance

6 months

8 steps for more efficient meetings (financially): Step 1) Pick an upcoming group meeting. Step 2) Back into everyone’s hourly rate on the invite list. (Salary/ avg hours worked per week/ 48 weeks) Step 3) Find the Time Worked Multiple of this meeting. (Length of meeting in

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@Finance_4hire

FractionalFinance

5 months

Finance Red Flag: =Round(____) If you find this function in a spreadsheet, question everything.

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@Finance_4hire

FractionalFinance

7 months

Businesses need two forecasts: Business Plan: Consecutive sales, detailed budget. Shared with investors & lenders. Operating Goal: More aggressive sales, slightly less budget. Shares with team. If the team undersells and overspends, you still over-deliver for stakeholders.

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@Finance_4hire

FractionalFinance

4 months

When business is going well is the time to: - Apply for a Line of Credit - Invest in Employee Training - Renegotiate Payment Terms - Identify Areas to Improve Margins Tackling these eventual needs from a position of strength makes each significantly easier to accomplish.

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@Finance_4hire

FractionalFinance

9 months

A strong finance partner allows you to connect the dots between finance, operations, and strategy to drive sustainable growth.

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@Finance_4hire

FractionalFinance

6 months

Pay attention to the details that matter to the person across the table. I'm working on a 9 figure deal that might fall through because of a repeated misspelling by the potential buyer. Here is the situation: This deal includes the purchase of a marquee property, named after

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@Finance_4hire

FractionalFinance

6 months

Keep your Cap Table as short as possible. You’ll thank me down the road for this one.

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@Finance_4hire

FractionalFinance

5 months

You should be getting a first look into your March/1Q results within the next week. My current monthly close roster: -77 Unit Property Management Co -$40m CPG Brand -$8m Painting Business -$5m UX Design Firm -$3m E-Sports Talent Agency -$2m SaaS Platform -$1.5m Licenses Merch

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@Finance_4hire

FractionalFinance

6 months

Today's an extra day to sell and grow. Make it count Then adjust your Feb/1Q numbers to daily when comparing to last year instead of telling yourself things were a few percentage points better than reality.

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@Finance_4hire

FractionalFinance

6 months

There is a constant struggle in finance to either: A) Build reports and analyses so complicated you will always be needed. or B) Build tools simple and intuitive enough that they can be delegated and managed by others. Do B 9 times out of 10, B is the more valuable for you

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@Finance_4hire

FractionalFinance

8 months

Cash Accounting - Record revenues when you get paid and record expenses when you pay for them. Accrual Accounting - Record revenue and expenses when you deliver your product or service. The first is more straightforward to understand. The second is correct.

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@Finance_4hire

FractionalFinance

5 months

Any business with a meaningful subscription offering should be tracking: -Cohort Size -ARR -ACV -ARPU -CaC -Churn Rate -Retention Curve The calcs can be confusing and easily manipulated. Getting them right has big implications for forecasting, planning, & fundraising.

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@Finance_4hire

FractionalFinance

7 months

If you don't get monthly financial statements, you need a bookkeeper. If you do but don't know read the statements to inform decisions, you need a finance lead. Without these two you're flying blind. Ask for help.

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@Finance_4hire

FractionalFinance

3 months

Typical new client conversation: Business Owner: "We collect in 10-15 days and have payment terms of 60 to 90 days from vendors." Me: "That is on the contracts, but historicals show an average of 65 days for collections and 43 days for payments." The numbers don't lie.

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@Finance_4hire

FractionalFinance

11 months

Benefits of a great finance partner - Unlock growth - Reduce redundant spend - Break down unit economics - Tie operationals to financials - Forecast future earnings - Simplify strategy and messaging - Improve Capital efficiencies Easy 10x the investment

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@Finance_4hire

FractionalFinance

6 months

Good intentions can often have unexpected consequences. I'm working with a group that is raising $30m for a great deal. They will succeed but have set themselves up for a less than ideal outcome with problems to follow. Here's Why: Their goal: Incentivize qualified

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@Finance_4hire

FractionalFinance

11 months

Understanding how a P&L works is fairly simple. Understanding how to get from P&L to Cash Flow is not. If you run a business, knowing how working capital works for (or against) the business should be a priority and tracked consistently.

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@Finance_4hire

FractionalFinance

6 months

A number like 7.1458290174329 In excel is clearly a pasted value. Leaving it like this in a model opens you to irrelevant questions and reads as if you are hiding details from whoever you’re sharing the work with. Round the number or leave in the full calculation.

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@Finance_4hire

FractionalFinance

6 months

Typically the question being asked of finance is not the real question you should work to answer. Non-finance partners tend to ask about what they know. Real value comes from using that as a starting point to uncover the issues they don’t know are impacting headline results.

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@Finance_4hire

FractionalFinance

1 year

@GalianoTiramani @Thefrugalgay11 @BOXABL @fema this is worth looking into

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@Finance_4hire

FractionalFinance

7 months

Revenue does not equal your income Revenue does not equal cash flows Revenue does not equal company value

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@Finance_4hire

FractionalFinance

6 months

Every aspect of finance is teachable. So are many soft skills like communication and networking. Drive, curiosity, enthusiasm, and critical thinking are not. Finding someone with the latter and teaching the former is a much better recipe for success than the other way around.

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@Finance_4hire

FractionalFinance

10 months

Can someone at @MainStSummit post speaker lists with handles? Couldn’t make it this year but have added some great new follows from the content of the event coming from @SMB_Attorney @ClintFiore and @RegZeller Keep it coming gents!

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@Finance_4hire

FractionalFinance

1 year

Well played @Upwork ! This is a great addition. Freelancers can now schedule price increases of pre set amounts every 3, 6, or 12 months.

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@Finance_4hire

FractionalFinance

5 months

2Q’24 starts tomorrow. Quarterly reminder that a 200-page slide deck isn’t helpful. Quarterly Business Review (“QBR”) season is upon us. Keep it simple, focus on what matters.

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@Finance_4hire

FractionalFinance

3 months

Quantifiable business killers: - High Cash Conversion Cycle - Elevated Burn Rate with no sign of break-even - Returns below Cost of Capital Non-quantifiable business killers: - Indecision - Using time and resources on nonmaterial projects - Lack of prioritization

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@Finance_4hire

FractionalFinance

7 months

I have a backlog of models to be built. A client invited me to a conference last minute. Building relationships, meeting with customers, understanding products, and being in the field are all far more valuable long-term than being the best in Excel. The models will get done.

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@Finance_4hire

FractionalFinance

4 months

One contentious name high on a cap table can cause problems for fundraising, recruiting, and morale. Choose equity partners wisely.

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@Finance_4hire

FractionalFinance

9 months

A forecast doesn't have to be complicated. If you have historical P&L actuals, all you need is ~5 KPIs to drive everything. - Revenue Growth % - Gross Margin % - Operating Expense % of Sales - Interest Expense - Tax Rate More detail can be added but this gets the job done.

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@Finance_4hire

FractionalFinance

8 months

If you have less than 12 months of cash on hand, you should have a 13-week cash forecast that is updated at least weekly.

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@Finance_4hire

FractionalFinance

3 months

How to understand your monthly breakeven point: 1-Know your monthly operating expenses 2-Know your gross margin % 3-Do math: Operating Expense/Gross Margin = Sales needed to break even Example 1-Monthly OpEx = $53,250 2-Gross Margin = 28% 3-Breakeven point: 53,250/.28=$190,179

4

0

11

@Finance_4hire

FractionalFinance

4 months

Today is the 15th business day of the month and already the 21st of May. If you don't have April actuals yet, you probably need a new accountant.

3

0

11

@Finance_4hire

FractionalFinance

4 months

A Data Room should tell a story. A Data Room should not be a repository of poorly named files.

3

1

10

@Finance_4hire

FractionalFinance

6 months

If any member of your team is taking more than 3 hours a week to update a recurring report, you need a better process. If any member of your team is manually typing more than 10 numbers into a recurring report, you need a better process. Getting help to rebuild inefficient

1

1

11

@Finance_4hire

FractionalFinance

10 months

Building a revenue forecast on historical trends and business lead intuition is great. Working with the sales team to develop and maintain an active sales pipeline is much better. Accurate to the account, form relationships with sales, true terms for A/R and margin.

0

1

10

@Finance_4hire

FractionalFinance

3 months

@investing_law Promotion to head of marketing and PR

1

0

8

@Finance_4hire

FractionalFinance

1 year

@the_sytch At 5% interest the $1.5m today will give you $6,250 per month starting today. Taking $5k/m will take 25 years to have $1.5m. Taking $1.5m gets you more than $5k/month starting today and will grow! Regardless of age $1.5m today is always the answer.

3

0

11