A CFO business that’s more than just about the money

Welcome to my LinkedIn corner!

If we haven’t met yet, my name is Admira. I am an NY-based CFO, a mother, a wife, an entrepreneur and on some days, when I catch a minute ?? a woman trying to stay on top of her health and well-being.?

With this newsletter I plan to bring you into…

?? The journey of building my business?

??? My CFO work with my own clients

?? The funny, sad or mad episodes I get on a daily basis as a mother?

??The balancing act of how I try to make time for my health goals???

The point of it all is to break down the stereotypes of the cold, unapproachable CFO, while also sharing with you some of my own goals for a little accountability along the way!?

?? Behind the Scenes of My Business

?? My 2023 is about giving back!?

For me the reason behind KARE CFOs was never about the money.? My drive is to honor my father’s legacy by helping as many small business owners as possible.?

So recently I’ve been looking around for the right person to help.?

Some time ago, I came across a micro-entrepreneur running a healthy, but tiny solo operation that I was supposed to refer onwards for services.?

Typically, I don’t work with clients that are quite so small. But I had been looking around for someone to give back to. And there he was. Undeniably, needing my help.?

So I decided to take him on.?

The deal was for the bookkeeping piece to be done by my team, according to the GAAP principles. That’s a non-negotiable in working with me. But monthly we meet for free CFO coaching and strategy sessions just as I do with my million-revenue clients. That's key for his business to get on track to grow faster.?

So was this the right thing to do? Considering it felt good and aligned, I’d say so!

Because unlike donating money to charity (which is still a very big deal for me) offering my CFO service and helping this small business owner scale faster means I get to see the impact this brings!?

And that is what KARE CFO is all about ??

So for this year, I am offering to mentor up to 3 people. If you know some people that are not ready to work with a CFO, but could seriously need the help ?? Drop me a line!?

??? CFO Corner for Your Small Business

“This month we’re short on payroll” - one of my clients whispered on a call.

Literally the stuff of nightmare for any CFO to hear!?

Yet it happens more often than you would believe.?

Most (99%) entrepreneurs live by the following mantra:

?? if I just bring more revenue in, that's gonna fix everything ??

As a CFO, trust me when I say: that’s not true ?? On some special occasions, it could even break your business!?

For example, if you don’t stick to a budget that’s not gonna get any better as you bring more revenue in. First, you need to check and address your habits around money.

Here are just a few examples of bad habits I have seen in 12+ years of being a CFO that DON’T get fixed with more revenue:

1. No processes in place
2. No visibility / clarity of expenses?
3. Setting standards based on personal feelings vs industry
4. Decisions based on strong emotions instead of strategy
5. Reactive mindset vs strategic mindset
6. Passing down the financial troubles to the customer
7. Mixing personal expenses with business
8. Not taking money out of the business
9. Taking too much money out of the business

And if you’re reading this, from one business owner to another, trust me, it’s not your fault! No one tells you this stuff ?? ?? But the only way to transition small, side hustle mode into a consolidated business is to call out these bad habits.

Need a hand? We can have a quick chat: https://calendly.com/admira?

?? Keeping A Tight Grasp on Motherhood… Or At Least Trying To?

I’ll preface this by saying that my son Edvin?

1. is very much like me (solution-focused)

2. hates getting hurt. If he falls, he’ll take a few good minutes to check himself all over before the a-ok ??

Well, Edvin is now at a stage where he’s a bit messy. Dropping crumbs, leaving his toys around. So knowing what I know, I said:?

“Edvin, next time you leave your toys all around the house, you’ll trip, fall and cut your knees wide open. You’ll see, that’s what happens!”

First he said: “Mommy, that’s not very nice”

But then he took a minute to think ?? and came out with:

“Mommy, I’ve got an idea. From now on, we can get all the toys in here (points at the dinosaurs on the stairs) and we can put it in a box outside. So that no one falls and hurts their knees”?

I was trying to keep a straight face, but I had to pretend I was busy with baby Ari to have a little giggle.?

Later that day, he got all his dinosaurs in a box ??

Now I can say this was all me, but credit where credit is due ???? ♀? He is a solution-oriented little man ??

That being said, how do you convince your 5 year old to put their toys away??

??Staying Balanced

75kg target ?? HIT!?

I completed my 4-month fitness program after ?? baby Ari

I hit all my targets

Except…

There’s a family holiday coming up, you see ??

And I just couldn't help myself thinking: “this is good but I could do just a little bit better.”?

Maybe I could just push myself a little more to really feel like my best self.?

My fitness coach was thrilled with the challenge. But as soon as I said it, my immediate thoughts were as follow:?

“What have I gotten myself into?”

“Why couldn’t I just be happy with my 75 and going back to my normal, pre-baby weight”

“Me and my big mouth”?

It made me empathize more with my clients whenever I challenge them to push their limits ?? Not that I won't do that anymore, but I promise more empathy!

But it also made me think…?

As business owners we sometimes fall down the comfort-zone route and forget to push ourselves.?

After all, it's normal to feel fear!?

That’s why I know I wouldn’t have dared to push for more without a coach!

So now to get myself past the 75 target..

?? I need to step up my efforts?

?? Shift from home workouts to gym workouts

?? Enroll a partner in crime - my husband was involuntarily signed up!

I’ll be honest, my first trip to the gym after many years wasn’t fun! The whole setup felt intimidating.?

Once again, I empathized hard with my clients when they’d tell me they don’t even wanna look at the figures ??

So I straight up decided I need a PT. But I stuck to my commitment. Because my coach said “you can do it! And I can help you get there”.?

It’s exactly what I tell my own clients!

I see the results they are capable of achieving with just the right amount of cheering on and guidance ??

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??? For coffee chats to talk about any of the above (I am always? open to learning new tactics that have worked with your 5 year old ??) you can catch me here: https://calendly.com/admira

?? If you have someone in mind that could benefit from CFO mentorship, drop me a line and let’s see if we’re a good fit! If I can’t help, I have an extensive network ready to find the right support ?? My DMs are open!