What 20 Fractional CFOs Taught Us: Key Insights Every Fractional CFO Needs to Know
20 episodes, 20 conversations with top finance leaders who are redefining what it means to be a modern Fractional CFO.
We started The New F*Word because we kept meeting businesses that were looking for better 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝘀𝘂𝗽𝗽𝗼𝗿𝘁 and 𝗮𝗱𝘃𝗶𝗰𝗲. At the same time, CFOs are taking advantage of remote working and transitioning to fractional or portfolio careers. Demand creates supply and this sparked what we’re calling the Fractional Revolution.
We wanted to explore how this was playing out, and at the same time, spread the word with business owners that were making the jump to finally hire the financial experts at a price they could afford. The goal? To help other fractional CFOs learn from their experience and become more of an asset to the businesses they serve.
Over the first 20 episodes, I’ve had honest conversations with the people on the ground, navigating uncertainty, driving growth, and building better businesses.
20 experts is still just a drop in the ocean, but we wanted to mark it by sharing one key takeaway from each guest. Bite-sized, actionable, and straight from the source.
Let’s start with one of the biggest recurring themes…
🔎 Advisory Starts Where the Spreadsheets Stop
One of the common takeaways was how to leverage technology as a Fractional CFO. There are countless tools out there that can help you gain real-time visibility, automate the grunt work, and create space for more strategic conversations.
Your tech stack should be streamlining your processes so you can focus on the high-value strategic partnership work.
Technology helps amplify the value that [you] bring from the financial planning analysis…bringing in technology [can] help you do that analysis… that way you can have an advisory conversation with your clients, your business, and the CEO.
Technology isn’t just about efficiency; a good tech stack can free you up to be strategic and focus on the human relationship between you and your client.
For Stacey Borrow, strategy starts with people;
I need to know about that person and what they need from their business before I can advise them on the strategy that is right for them…This is not a hands-off ‘just look at some numbers and hope for the best.’ This is digging deep. Uncover the goals of the founders before aligning the financials.
She positions herself as a bridge between accountants, bookkeepers, and the business owner, helping everyone work together to build something better. That kind of personalised strategy is what moves you from a finance function to a trusted partner.
Eliott Gasper shares the same philosophy, he believes that the best fCFOs know how to build the model, design the process, connect the tech, and deliver real insight, not just show up to meetings and talk strategy.
Great Fractional CFOs aren’t just strategic thinkers. They are hands-on people who will set up a process, design the process, and bring an understanding of best in class.
As Karen Stephen reminded us in Episode 5:
This is a great reminder that using tools is as much about efficiency as it is about unlocking the opportunity to become a strategic partner. The more you allow systems like Float, Xero, and QuickBooks to do the heavy lifting, the more time you have to focus on helping clients move forward with clarity and confidence.
You don’t need to have all the answers to be a great fCFO. But you can drive real impact by guiding your clients to ask the right questions and being a great sounding board for them
Should they hire another marketing person? Should they look at an acquisition? Should they do something else? And that something else all links back into the strategy of the business, which links back to what I was saying before in terms of strategy being super, super important and it works in conjunction with finance.
Lastly, great fCFOs bring everyone together to paint the bigger picture. They deeply understand the pitfalls of siloed teams and proactively drive collaboration, ensuring everyone sees their impact and takes part in strategic planning.
Getting into the nitty-gritty drivers of a business—whether in a fractional or employee role—doesn’t matter. The finance story isn’t something that sits in a corner. Every department is driven by numbers in some way, shape, or form.
💡 Forecasting Is Your Power Tool
Cashflow forecasting is the heartbeat of every business and a cornerstone of every impactful financial strategy.
Craig Rattray shared his experience working with business owners and the struggles they often face challenges that fCFOs must be able to empathise with:
When you have a clear view of what’s ahead, you can help your clients stay well prepared by considering different financial possibilities before they happen.
As Matthew Powell put it:
“Even if you invest one day a quarter in speaking to someone that's done [scenario planning] before, it'll be money well spent because they can help you plan your roadmap.”
A forecast reflects a business’s roadmap! By mapping out a range of outcomes, from best case to worst case, to most-likely case scenario, you can help clients anticipate challenges, spot opportunities, and make wise decisions with confidence, and data to back it up.
However, having a roadmap is only the beginning. What matters most is knowing how to use it.
Simon Kallu summed this up perfectly in Episode 10:
“If you're not measuring, you don't know where the risk is. If you're not looking at your cash flow, you have no idea what's going to happen.”
Whether your client is planning to open a new office or increase dividend distribution, those strategic conversations start with clarity. Great CFOs help business owners understand how to leverage a cash flow forecast as a decision-making tool. They move beyond a sea of numbers to tell the story of where the business stands today, and crucially, what’s next. By clearly showing what’s possible (and what isn’t), they give you a sharper view of what’s at stake.
As Susan Boles shared in her episode, forecasting allows you to be more proactive than reactive. Her approach helps clients shift out of that reactive chaos that some businesses unfortunately fall victim to, and into a rhythm that feels sustainable. She reminded us that growth without clarity can quickly become overwhelming. Forecasting is how you help clients grow wisely, not just quickly.
If you don't have clear visibility over your cash flow, it's impossible to make confident decisions.
Former Investor and founder Stephen Findlay reminded us that cash flow isn’t just a visibility tool for you and your clients, it’s the first thing an investor is going to scrutinise.
As the old letters go, cash is king. It's absolutely critical... The first thing that we do is we look at the cash flow forecasts, and we check it back to the bank accounts. Is the money actually there? And how much of a runway have we got?
This serves as a reminder that a solid forecasting process isn’t just about internal clarity; it’s a signal to external stakeholders that the business is prepared, aware of its runway, and led by people who are paying attention to what matters most.
⚙️ Build Trust Before You Build the Model
We have covered scenario planning and tech stacks, the technical side of being an fCFO. Before all of this, your impact as an fCFO begins with trust.
Our guests repeatedly told us that the real work begins before you get into the numbers. It starts with how you show up, how well you understand the client’s world, and how confident they feel handing you the keys to their business strategy.
As Lauren Harvey pointed out in her episode:
It’s really hard to say ‘I want you to be that fractional person for me’ when I don’t know you and therefore there’s no trust.
Nikole Mackenzie brought this home in her episode, explaining how putting your face out there authentically through content creation can lead to a strong level of trust even before a business relationship has begun. From intermittently posting content on LinkedIn to starting a newsletter, Nikole created a system for content distribution that helps her build a foundation of trust:
We're actually selling advice and we're selling solutions, and so it could take somebody a year of seeing my content to say, ‘okay, now the timing's right. I trust you. I know you. I like you. I'm ready to buy from you.’
Graeme Tennick took this a step further by suggesting that trust isn’t just about showing your financial acumen, it’s about the questions you ask. In his words,
It’s not what you know. It’s what you ask.
That mindset shift, from telling to listening, is what helps move a CFO from vendor to trusted advisor.
Trust is the foundation that everything rests on, so before you can influence strategy, you have to earn the right to be heard.
Another way to build trust is by deeply understanding your client’s evolving needs and circumstances, then adapting to work alongside them. Marc Obrart truly understood his market, shaping his business around a strong USP that seamlessly integrates into his clients' operations:
🗣️ Building a Career (and Life) That Works for You
Yes, we talked a lot about building better businesses, but behind every strategy is a person trying to build a career and a life that feels sustainable. For many guests, stepping into the fractional CFO space wasn’t just about professional growth. It was about autonomy, lifestyle, and designing work on their own terms.
There’s a common misconception that people go fractional as a way of winding down for retirement. But Stephen Halpin, founder of PortfolioXD, is seeing a very different trend. He’s seeing experienced talent actively choosing this path. Not to slow down, but to gain more flexibility, variety, and alignment with their personal development and goals.
Rachel Marshall spoke candidly about the power of consistency when building a pipeline, and how quickly things can dry up when you stop showing up:
Things that I've seen work are definitely LinkedIn. Like if I commit to LinkedIn and I keep posting, honestly, it is a game changer... You've got to be posting once a week. You've got to make sure that you've got constant presence there, and as soon as you drop off… I was getting nothing.
Daniella Wainwright and I spoke about how visibility doesn’t have to be complex. She shared that simple, intentional conversations were the key to launching her business:
I basically started my business through talking to people on LinkedIn and having Zoom chat after Zoom chat and being [recommended by] really helpful, lovely people…It was great to build [my network] back up.
These guests have stressed the importance of showing up and putting your face out there, and of course, with this commitment comes reward. The fractional career can give you more freedom if you are willing to back yourself.
Whether it’s the freedom to live where you want, connect with clients on your terms, or just feel in control of your time again, these episodes proved that building a fractional CFO practice is as much about designing your life as it is your business.
Being a fractional CFO brings me stability because I like to change countries… I know that if I'm able to succeed in building this in the long term… It’s giving me a more stable way of living.
For many finance leaders, going fractional is also about meeting a real market need. More and more businesses are looking for experienced financial leadership, just not on a full-time basis.
Part of the reason for the increase in fractional [roles] is because these businesses are being helped to get to the next level…but they need more experience to get further still.
Whether it’s larger organisations needing short-term strategic help, or startups looking for seasoned insight without a full-time hire, the rise of fCFOs is being fuelled by real demand, and real opportunity.
🧩 Final Reflection
If there’s one thing these 20 conversations have made clear, it’s this: being a great fractional CFO isn’t about having all the answers. It’s about asking the right questions, building real trust, and turning clarity into action. Whether you’re just starting out or leveling up your offerings, the path forward is already being paved by those who’ve done it well and have generously shared how.
Here’s to the next 20!
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Colin 👋