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Insights from financial expert Jim Taubert on managing growth, margins, and cash flow
Growing your business is exciting — but it also creates financial challenges that most owners aren’t fully prepared for. Whether you're running a marketing agency, a service firm, or a manufacturing company, you’ll eventually face the same hurdles: unclear numbers, cash flow surprises, and missed profitability opportunities.
In this post, Shane Bender, Founder of Bender CFO Services, shares actionable insights from a conversation with fellow strategic CFO Jim Taubert, with FLX CFO. The goal: to give you real strategies for growing with clarity, protecting cash flow, and increasing your profits without hiring a full-time CFO.
Get even more context from Jim Taubert on what it takes to scale smart.
Why Most Business Owners Struggle to "See the Story" in Their Numbers
Jim opens the conversation with a common issue: many businesses operate with outdated or incomplete financials. If you're reviewing reports from 60 days ago, you're trying to steer your company using a rearview mirror.
A strategic CFO helps solve this by improving the speed and clarity of reporting. One of Jim's first steps with clients is optimizing the month-end close process:
- Assigning clear owners to each step of the close
- Creating deadlines and accountability calendars
- Eliminating inefficiencies and bottlenecks
Why this matters: Timely, accurate reports empower leadership to make decisions based on reality — not gut feel or outdated data.
"You can't do CFO-level strategy if the books are always two months behind." — Shane Bender
The Gross Margin Gap: Are You Missing Hidden Profit?
Even companies with $10M+ in revenue often can't answer this simple question: Which of your services or products are most profitable?
Gross margin analysis is often overlooked or misunderstood, especially by entrepreneurs focused more on revenue or cash in the bank. Jim breaks it down:
- Gross margin = revenue minus cost of goods sold (COGS)
- COGS includes direct materials, direct labor, and manufacturing overhead
- Allocation methods vary: square footage, labor hours, employee count, etc.
When businesses start tracking true margin by product, service, or project, they uncover surprising insights:
"Just a 1% margin improvement added over $1 million a year for one client."
Tip: Track Margins at the Project or Product Level
Jim recommends setting margin targets and building reporting systems that show actuals versus expected margins monthly. This allows course correction early — especially during long-term projects.
Surviving the Scale: Lessons from a $20M → $75M Growth Story
Jim shared a case study from his work with a Texas aerospace manufacturer. The company scaled rapidly, going from $20 million to $75 million in revenue in just a few years. But Jim makes one thing clear:
"I can't take credit for the growth. I can take credit for surviving the growth."
Here's what made it work:
- Strategic partnerships: Outsourced key operations to reduce working capital needs
- Cash protection: Negotiated upfront deposits on materials to avoid credit strain
- Margin focus: Implemented monthly margin reviews and educated teams on cost structures
The result? Higher profitability and smoother operations, even amid major scaling pressure.
What a Strategic CFO Actually Does — and Why It Matters
The title "fractional CFO" means different things depending on who you ask. Some CFOs focus heavily on accounting, others on FP&A, while strategic CFOs prioritize forward-looking analysis and business leadership.
Jim's framework is simple:
Listen. Implement. Measure. Adjust.
His goal isn't to do the bookkeeping. It's to install systems and lead discussions that turn financial data into smart business decisions.
Questions to Ask When Hiring a CFO:
- Do they explain finance in a way I understand?
- Will they help my leadership team make better decisions?
- Can they build systems and teach others to use them?
- How do they interact with banks, insurers, and outside advisors?
Shane adds:
"You want someone who can plug into your executive team, not just hand you a spreadsheet."
Not Ready for a CFO Yet? Do These 3 Things Anyway
Even if you're not ready to hire a fractional CFO, you can still make smarter moves now:
- Review your close process: How long does it take? Who owns what?
- Set margin targets: Pick 1 product or service and track margin this month.
- Improve financial presentation: Can your reports help you make decisions?
These steps will make your business easier to run and easier to scale — with or without a CFO in the seat.
Final Take: Financial Clarity Starts with Trust
Strategic financial guidance starts with trust. That's why Shane created this interview series: to introduce his network to proven advisors who can help solve real business problems.
Whether you're scaling fast or just trying to get a grip on your numbers, the lessons here apply across industries. And if you need a trusted guide to help you make sense of it all...
📅 Book a Free CFO Strategy Call with Shane
Bender CFO Services works with growth-minded businesses that want the clarity, forecasting, and insight of a full-time CFO — without the cost. From profitability strategy to cash flow and financial systems, Shane and his team help you lead with confidence and improve results month over month.
