Our guest today is Andy Cristin, a Virtual Finance Director or Fractional CFO who has over a decade of experience working with owner-managed businesses. Andy shares how he became a fractional CFO after realizing he preferred making quick decisions and working closely with entrepreneurs to determine business goals and exit strategies. As an author, finance director, and qualified accountant, Andy knows the ins and outs of running and building a successful small or medium-sized business.

We learn how Andy's successful exit from his own business taught him valuable lessons such as fine-tuning profitability, hiring people better than yourself, and relying on automation to reduce costs per unit. We also discuss the importance of cash flow management and how a fractional CFO can help small business owners develop a financial strategy by analyzing financial data and creating a plan that aligns with the business's overall goals.

Andy shares his expertise on industry trends, predicting revenue and costs, and the impact of changes in consumer behavior. He emphasizes the importance of getting financial specialists in early and sticking to a focused strategy to avoid common mistakes in small businesses. Finally, we delve into the complexities of preparing for an exit through a merger or acquisition and the need to make oneself redundant as the business owner.

Tune in for a fascinating conversation with Andy Cristin and gain valuable insights into financial strategy and planning for early stage businesses.

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