In this episode of the Thoughtful Entrepreneur, your host Josh Elledge speaks with the Principal of Portal CFO, Manny Skevofilax. When asked about the services Manny renders as a fractional CFO, in response, he elucidated that numerous business proprietors initially seek assistance from accountants but often grapple with comprehending profitability and executing data-driven decisions. Manny underscored the significance of grasping fundamental metrics, such as identifying the most lucrative products or services, to advance towards business objectives. Manny's professional scope extends across diverse sectors, encompassing service companies, manufacturers, and contractors. He conveyed that a pivotal aspect of his responsibilities involves scrutinizing financial statements. Each business's financial statement narrates a distinct tale, and the ability to pinpoint areas for enhancement and make informed decisions grounded in financial data is deemed indispensable. When questioned about his interactions with clients and the concept of engaging a fractional CFO, Manny expounded that he initiates by evaluating the client's existing financial information and their capacity to make informed decisions based on said information. He stressed the urgency of timely and accurate financial statements, highlighting the significance of promptly addressing adverse trends.

Key Points from the Episode:

• Manny Skevofilax's work as a fractional CFO
• Importance of analyzing financial statements and making data-driven decisions
• Identifying profitable segments in business
• Making tough decisions about clients
• Overcoming stagnation in business
• Manny's experience working with various types of businesses
• Importance of basic metrics in understanding profitability
• Manny's blog and valuable content on LinkedIn
• Manny's approach to providing practical lessons based on his experiences and mentors

About Manny Skevofilax:

Manny Skevofilax, a dynamic consultant and compelling speaker, breathes vitality into businesses, ensuring holistic success through his venture, Portal CFO. Initially rooted in the restaurant industry, Manny holds a Bachelor of Science in Business and a Master of Science in Finance, leveraging this dual expertise for a seamless transition into the corporate banking realm. His journey crystallized in consultancy, where his wealth of experience became instrumental. Renowned for translating intricate concepts into actionable strategies, Manny stands as the go-to figure for businesses navigating the ever-evolving commercial landscape. With a proven track record, he empowers enterprises to survive and thrive, offering indispensable insights for flourishing in today's dynamic business environment.

About Portal CFO:

Portal CFO is a guiding beacon for business owners, dedicated to enhancing financial prosperity. Positioned as a trusted navigator, the mission is clear: facilitate a seamless journey from the current state (Point A) to the business's envisioned future (Point B). As a financial compass, Portal CFO empowers entrepreneurs to comprehend and bolster their business's economic well-being. The focus is on fostering a more profound understanding, enabling informed decision-making throughout the transformative voyage. By providing insights into the intricacies of financial health, Portal CFO ensures that business owners not only navigate but thrive, ultimately translating into the ability to make judicious and profitable decisions for sustained success.

Tweetable Moments:

14:32 - "I do everything very, very simple so that the owner can understand, teach it to his or her team, and make it actionable."

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Links Mentioned in this Episode:

Want to learn more? Check out Portal CFO website at https://portalcfo.com/ Check out Portal CFO on LinkedIn at https://www.linkedin.com/company/portal-cfo-consulting/ Check out Portal CFO on Facebook at https://www.facebook.com/granddynamics/ Check out Manny Skevofilax on LinkedIn at https://www.linkedin.com/in/timwalther/

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