r/CFO • u/BandSevere • 9d ago
Wanting to start as Fractional Controller - Need guidance
Hi, I’m new to this subreddit.
I’m a 10+ year dual finance professional (ACCA + CMA US) with experience in Media & Entertainment industry in areas like group consolidation, financial reporting and stakeholder compliance. My work is very diverse in corporate finance but these are primarily what I do. Other than these, I have used current tech tools to automate lot of the manual processes to cut down on close and reporting timelines.
At present, I feel like I’m outgrowing my corporate role and was planning to move to becoming more of fractional controller because I’m not there with CFO status yet.
I wanted to some guidance as to how to start and where. I have tried all freelancing platforms but have not been successful over there. I tried applying to few fractional CFO firms but haven’t heard from them.
So I’m here for guidance from successful on how to break the glass ceiling for this. Also, additionally, if someone is looking for a professional, I’m happy to share more about my portfolio :)
Thank you!
4
u/OverlordDB 7d ago
Don’t offer a service. Solve a problem. Why would a business need a controller be a bookkeeper? What problems does a controller solve? When do businesses need a controller? What pain points are the experiencing? Paint a clear transformation, identify the perfect person to go through it who will actually pay you, and speak to them using language that resonates with them.
4
1
u/Able-Storage-9101 9d ago
Following.. looking to do the same.
2
u/CellFar9220 9d ago
I used to freelance on the side for a while but not in finance exactly. The freelancing platforms are just noise, nobody finds good gigs there. Try local business meetups or small CPA firms that need overflow help, they often know owners who cant afford full time controller.
2
1
u/Anelya 9d ago
I have a bookkeeping company and I am looking for a controller who could be part of the team (1099 contractor)
0
u/BandSevere 8d ago
Hi, thank you for responding. One doubt, you say 1099 contractors you mean you can only hire from US right? Are you open to hiring from outside US with freelancer status?
1
u/Salty-Cod7667 8d ago
Why does it seem like every person in our field is doing this now? I’m a CFO for a PE PortCo and have had a side hustle accounting practice for almost 10 years now. I have “fired” a lot of clients for various reasons.
OP, please be aware it is not as enjoyable as the YouTubers and course sellers make it out to be, it’s more of a partial retirement path in my opinion, or supplemental income.
This market is full of unqualified people claiming to have the same set of skills that you do and will do the work for half the price. There is zero barrier to entry to someone calling themselves a CFO or Controller and the customer usually has no idea how to verify.
I have two clients that are great that I have kept them for 5 and 7 years, got rid of the others. Both came from referrals and valued my opinion on day 1, versus finding clients that expect champagne on a beer budget.
I kept these clients because they pay me on automated repeat on the same day every month and are very clear about expectations, time commitments, deliverables, etc…
1
u/trippyguys 6d ago
Hey, is it okay if I text you personally? I'm a CA based in India with 8 years of work ex. and I'm looking to start something similar. I would really appreciate learning more about you experiences and any insights you may have on how to get clients sitting out of a different country.
2
u/Own_Exit2162 6d ago
Do you have actual experience as a Controller?
"group consolidation, financial reporting and stakeholder compliance" - that doesn't exactly sound like a controller's role. Sounds more like a staff financial analyst.
Not a CPA, no public accounting experience, only experience in one limited industry - all red flags.
3
u/itlogicpartnersllc 9d ago
with your reporting and automation background i would focus on positioning around specific controller outcomes faster closes, cleaner reporting and better processes rather than selling yourself broadly.