#214 How to Launch a Successful Fractional CFO Practice with Kat Wellum-Kent, Founder/CEO, Fractional Finance

#214 How to Launch a Successful Fractional CFO Practice with Kat Wellum-Kent https://open.spotify.com/show/7yTcgGvYdcXPxz2HbvgB2H Fractional CFO services are becoming increasingly valuable as businesses seek strategic financial guidance to support their growth. In this episode of the Grow CFO Show, host Kevin Appleby sits down with Kat Wellum-Kent, the founder and CEO of Fractional Finance, to discuss her journey in establishing a successful fractional CFO practice. Kat Wellum-Kent shares her background as an accountant, her transition from a larger firm to a smaller practice, and her realization of the gap in the market for strategic financial advice. She describes her decision to start Fractional Finance, the challenges she faced in securing her first clients, and the rapid growth of her business over the past two years. Kat's story provides valuable insights for finance professionals considering the transition to a fractional CFO role. Key topics covered: Kat's background in accounting, including her time at Deloitte and her move to a smaller practice Her discovery of the fractional CFO concept and the decision to start her own business The importance of using the CFO competency framework to assess her skills and identify areas for improvement The process of securing her first clients, including the power of LinkedIn for lead generation The growth of Fractional Finance, from two clients in January 2023 to 17 clients by October 2024 The value of Kat's corporate finance experience and how it benefits her clients The role of a mentor in guiding Kat through the challenges of entrepreneurship Advice for aspiring fractional CFOs, including the importance of protecting time and backing oneself https://www.youtube.com/watch?v=7f9qbchI9l4 Links Kat Wellum-Kent on LinkedIn Kevin Appleby on LinkedIn GrowCFO Mentoring Timestamps 0:04:15 Kat's background and transition to a smaller accounting practice 0:09:28 Kat's decision to start Fractional Finance and the business planning process 0:13:00 Securing the first clients and the power of LinkedIn 0:15:28 The growth of Fractional Finance and the team expansion 0:19:46 Kat's ambition for the business and the market potential 0:22:11 The relevance of Kat's corporate finance experience 0:25:40 The value of having a mentor for guidance and support 0:27:20 Kat's advice for aspiring entrepreneurs and dealing with imposter syndrome Find out more about GrowCFO If you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode. GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here. You can find out more and join today at growcfo.net