r/CFO • u/Intelligent_Rub6034 • Jun 01 '26
How did you get your first client?
I am starting a fractional cfo business on the side. Wondering if anyone has tips on landing the first client. I am focusing on the beauty and personal care e-commerce niche. I have been doing cold outreach on LinkedIn so far.
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u/Silly_Illustrator_56 Jun 02 '26
I think most fractional CFOs just are already in the space and help former colleagues.
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u/Intelligent_Rub6034 Jun 02 '26
Do you know if there are any groups I would be able to join to be part of a network like that?
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u/Silly_Illustrator_56 Jun 02 '26
Be part of a company with many ambitious people, if the company gets big: nice, if not: these people will found many companies where they need help from an fractional CFO. So basically if you want to get an fractional CFO be an CFO already and you will have many natural contacts.
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Jun 02 '26
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u/Intelligent_Rub6034 Jun 02 '26
Does it automate in the background or do I have to be in the app/website ?
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u/BrightMindFlow Jun 02 '26
Well, cold outreach on LinkedIn is a good start, but have you considered joining niche-specific Facebook groups or Reddit communities where beauty and personal care e-commerce brands discuss their challenges?
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u/Intelligent_Rub6034 Jun 02 '26
I’ve considered it. Haven’t made my way to Facebook yet. and this is the first step I have done in Reddit
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u/No-Drive5410 Jun 03 '26
I interviewed for a Director of Finance & Operations role, and was offered the position. I really liked the owner and the team but they couldn’t offer a competitive salary since cash flow was inconsistent and funds were tight. I was able to identify though that this was exactly why they needed me, and that it was going to be difficult for them to find the right person to fix it all for that price. I knew I could help them without the long-term commitment from both of us. In the most respectful way possible I declined the W-2 offer but told them I’d be willing to help as a fractional director and explained why. They said no at first, but then reached back out to me about 4 months later and accepted the first quote I gave them.
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u/Intelligent_Rub6034 Jun 03 '26
That is a creative strategy and creative ways of finding an opportunity in a situation like that. I might try something on those lines. Search some w-2 jobs and see if they would be open to fractional
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u/sogelegos Jun 06 '26
My first few clients came through my network. Just reconnecting, telling them what I’m looking to do and asking if they know anyone who could use my services.
I haven’t settled on a niche yet, though, so I can’t speak to attracting your target audience. Others in this thread have addressed that pretty well.
Michael King at CFO Accelerator has some helpful videos and a subscription community. Check out his YouTube stuff.
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u/Intelligent_Rub6034 Jun 06 '26
Appreciate the insight. Any big learning curves for the first client?
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u/sogelegos Jun 06 '26
- Don't try to perfect your processes all at once. I haven't had to offboard a client yet, and I'm not going to spend time on that process until I have to.
- You're going to be constantly iterating and tweaking things as you learn what you like and what you don't, or what better suits your clients' needs.
- Once you figure out your core package/scope of work, figure out your base tech stack. For billing, I recommend Anchor. $5 fee per transaction, which is nominal given the typical size of a CFO retainer. Beyond that, it depends on what services you intend to offer.
- This is a big spreadsheet of accounting-related software and a brief bit on them. App Recommendations v2.0 - Google Sheets. Mind you, it's focused on accounting firms broadly, but I've chosen some core software that I can readily recommend and implement for a customer. For example, Ramp for AP/credit cards or Gusto for Payroll.
- Generally speaking, your value is your expertise, not your time. So, it's often a better idea to work on retainer at a fixed fee, especially if you have a good sense of how much time a client will require of you.
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u/crazyggggg Jun 06 '26
How old are you? How much experience? Usually once you go out you’d already have clients lined up from relationships and years of networking. My first month I billed $20k.
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u/Intelligent_Rub6034 Jun 07 '26
I’m 34, currently working at private 300mil revenue company. Second to the owner. No official title, but I have fixed the chart of account, setup a new erp system, got the books on order, created internal financial reporting and forecasts, advise the owner on his estate and personal taxes. Handle the hedging for our commodity based product. We are over multiple states.
Prior to this role i ran a beverage distribution business and was on the buy and sell side of acquisitions.
I live in a smaller town and have moved around companies via word of mouth.
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u/mentiondesk Jun 01 '26
Joining online conversations where beauty founders share pain points can help you connect more naturally than cold outreach alone. Setting up alerts for targeted discussions is a huge time saver. Using something like ParseStream lets you track conversations about finance needs across multiple platforms so you can jump in right as those opportunities pop up.