In this insightful episode of the “Win-Win” podcast, host Ben Wolfe engages in a fascinating conversation with John Ball, the founder and CEO of Seton Hill, one of the premier fractional CFO firms in the United States. They delve into the critical aspects to consider before venturing into the role of a fractional CFO. Ball shares his unique journey and experiences, providing valuable insights into the evolving demand for fractional leadership in various market segments. The discussion also touches on the challenges and strategies for success in this field, offering practical advice for those aspiring to make a mark as fractional CFOs. Whether you’re considering a shift into fractional executive leadership or simply interested in the dynamics of modern financial management, this episode is packed with enlightening perspectives and actionable guidance.
Here’s a quick rundown of the topics Ben and John cover:
- Background and Evolution of Fractional CFO Role: John Ball shared his experience of being a fractional CFO before it was a recognized profession. He discussed his early career experiences in diverse companies and his decision to establish Seton Hill.
- Growing Demand for Fractional Leadership: There is an increasing trend towards fractional leadership, especially in middle and lower middle market companies. CEOs prefer hiring talented fractional CFOs for their flexibility and expertise without long-term commitments.
- Challenges and Considerations for Aspiring Fractional CFOs: Ball highlighted the challenges faced by independent fractional CFOs, such as managing expenses, business development, and maintaining a network. He stressed the importance of having a financial safety net and a support system before venturing into this field.
- Criteria for Success and Client Selection: Successful engagement as a fractional CFO requires clear understanding of client needs, delivering effective solutions, and avoiding assignments that are outside one’s expertise. Ball also emphasized avoiding clients with malfeasance and ensuring CEO receptiveness.
- Seton Hill’s Approach and Expansion Plans: Seton Hill focuses on strategic CFO services and is expanding nationally. Ball mentioned their goal to serve clients across major U.S. metropolitan areas and the benefits of being part of a supportive firm culture, highlighting the “three mores” of fractional leadership: more fun, more flexibility, and more money.
