Eight Reasons to Consider a Fractional CFO
A conversation with Leslie Matakitis, Funk Financial & Focus CFO, and Bob Palmerton, Focus CFO
There are a handful of business decisions I look back on and think, thank God I did that. Bringing on a fractional CFO is one of them.
For our thirteenth episode of the Pro Concepts podcast, I sat down with two people who have had a direct impact on how PCIA operates and grows: Leslie Matakitis, founder of Funk Financial and a fractional CFO placement professional with Focus CFO, and Bob Palmerton, who has been PCIA's fractional CFO since 2019.
Leslie and I go back to the recession. We built our office building 13 years ago, and when the five-year commercial mortgage came due right in the middle of the economic downturn, the bank called the loan. Leslie stepped in, connected us with the right institution, and helped us secure a 25-year mortgage. I am not exaggerating when I say I do not know what would have happened to our building without her. That relationship has only deepened since, and eventually she introduced me to Bob.
I will be honest: I was not an easy sell on the fractional CFO concept. Leslie worked with me for a while before I agreed to just try it. I am glad I did. Here is what we covered.
First, what is a fractional CFO?
A fractional CFO is a senior financial executive who works with your company on a part-time basis, typically one day a week or a few hours a week, rather than as a full-time employee. Focus CFO works primarily with businesses in the $2 to $20 million revenue range, though the clients I have seen run both smaller and larger than that. The key is that you are at a point where gut-feel decisions are not enough anymore, and you need someone who can use the numbers to actually move the needle, but you are not yet at a scale where a full-time CFO makes sense.
1. Forward-thinking financial leadership, not just rearview reporting.
Accountants and controllers do important work, but that work is largely backward-looking. They report on what happened. A fractional CFO is focused on what is coming. Bob and I sit down once a month and go through where PCIA's numbers are, where we are forecasting to be, and what adjustments to make. That forward visibility changes how decisions get made.
2. A clear path to building company value.
Bob talks about a mountain, and the goal is getting the owner to the top. That means building from a solid financial foundation through healthy growth, all the way to the kind of value that gives you real options: an exit, a succession plan, or simply a business that runs the way you want it to. The question is always: what does the owner want the end to look like, and what needs to be in place today to get there?
3. Getting back to what you actually love about your business.
A lot of business owners start out loving what they do and end up buried in daily fires. A fractional CFO creates dedicated time and focus on strategy rather than operations. When Bob comes in on Fridays, the conversation is about growth, positioning, and the bigger picture. That distinction has helped me stay out of the weeds and focus on where PCIA is going.
4. Cash flow visibility.
Cash is king. A lot of business owners are managing payroll and expenses reactively, which creates unnecessary stress and risk. Bob uses a 13-week cash flow forecast to identify peaks and troughs before they become problems. If a shortfall is coming, we address it ahead of time. It also protects business owners from themselves. I have a tendency to see opportunities and want to move on all of them. Having someone who can model out the real cost and realistic return of any given idea is genuinely valuable.
5. Navigating growth without losing footing.
Most of the businesses Focus CFO works with are growing, and growth creates its own set of financial pressures. When is it the right time to hire? Can you afford a bulk inventory purchase for a discount? How much credit line do you actually need? A fractional CFO runs the scenario analysis so that growth decisions are made with confidence rather than guesswork.
6. Data-driven decision making.
Bob tracks key performance indicators for PCIA and compares them against industry benchmarks so we always know where we stand and where there is room to improve. Having that data consistently available changes the quality of every decision. It also changes how conversations with your bank go. I do not take a meeting with our bank unless Bob is in the room. He speaks to the numbers in a way that builds confidence and credibility with lenders. Bob calls it bank speak. What I know is that PCIA is in a strong, bankable position, and a large part of that is because of the rigor he brings to our financials.
7. Securing your future and your exit.
Leslie and Bob are both certified exit planning advisors, and this piece of what they do matters more than most business owners realize. Your business is likely your largest asset. If you want to retire at a certain age or sell the business at a certain value, you need to know what that number is today and whether you are on track to reach it.
There is also a harder truth here: if the business cannot run without you, it may not have meaningful value to sell. If every client relationship lives in your head and every process depends on your presence, you do not have a sellable business. You have a job. Building transferable value is a deliberate effort, and it takes time. The earlier you start thinking about it, the better positioned you will be.
8. You do not have to carry it alone.
Running a business is a heavy thing. Having a trusted, experienced person in your corner who knows your numbers, understands your operations, and can push back on you when needed makes the weight more manageable. Beyond Bob himself, Focus CFO brings a network of 90 to 100 CFOs with experience across industries. When Bob joined us, he reached out to a CFO in Ohio with deep insurance industry experience to benchmark our metrics. That kind of cross-industry perspective is something you simply cannot get from someone inside the building.
If you are running a professional services firm and wondering whether a fractional CFO is worth exploring, I am happy to talk through what it has looked like for us. Feel free to reach out to me directly.
To connect with Leslie Matakitis and the Focus CFO team, reach out through Funk Financial or Focus CFO.
To reach Mike Cosgrove directly, call 810-224-5255 or email mcosgrove@pciaonline.com.
To reach PCIA, visit pciaonline.com or call 800-969-4041.