In this podcast episode I had an enlightening conversation with Danielle Hendon, owner of 4 Corners CFO about law firm finances and everything you need to know about hiring a fractional Chief Financial Officer (CFO).
Danielle Hendon: From Music Major to Accounting Guru
Danielle shared her intriguing background story with us. She initially pursued a music major in college, but later switched to accounting after realizing she couldn't afford a career in music. She found joy in working with numbers and the intricate details of accounting. After completing her master's in accounting, she worked in public accounting and then landed a job at an oil and gas company in Houston. However, the company went through bankruptcy and eventually closed due to the pandemic. This unfortunate event presented Danielle with an opportunity to start her own business and provide fractional CFO services to small business owners like you.
The Impact of Big Business Finance on Small...
Law firm owners, get ready to prioritize profit and financial management in your business! In this episode of Profit with Law, I had the pleasure of hosting Rocky Lalvani, the renowned "Profit Answer Man." Rocky is a certified Profit First professional who has dedicated his career to teaching business owners how to prioritize profit and achieve financial success.
The Importance of Financial Statements for Business Owners
During our conversation, Rocky shared invaluable insights that can transform your law firm's financial health. We discussed the importance of financial statements, especially for those without an accounting background. Rocky compared the lack of financial education in law and medical schools to the challenges business owners face when dealing with complex financials.
The Role of a Fractional CFO
Rocky also introduced the concept of a fractional CFO and emphasized the need to understand the levers that drive profitability in your business. He advised...