Meet Scott!

In this episode, Zane interviews Scott Fuller, founder of Virtus Accounting Solutions.

Scott shares his journey from a blue-collar upbringing to becoming a seasoned CPA, emphasizing the importance of aligning financial strategies with personal values. He discusses his experiences in public accounting, corporate finance, and ultimately starting his own firm to help purpose-driven businesses achieve financial clarity.

Scott highlights the significance of empathy in client relationships and the role of accounting in making a positive impact in the world. He discusses the importance of purpose-driven business models, emphasizing the alignment of values with clients. He shares insights on niching by values rather than industry, the challenges of entrepreneurship, and the significance of collaboration over competition.

Scott also provides personal anecdotes and advice for aspiring entrepreneurs, highlighting the importance of giving your best and maintaining business fundamentals.

Takeaways

- Scott's mission is to align financial strategies with values.

- He emphasizes the importance of empathy in client relationships.

- Scott's journey includes experiences in public accounting and corporate finance.

- He believes in the value of listening to clients' needs.

- Scott's firm focuses on providing financial clarity to clients.

- The name 'Virtus' reflects integrity and courage in business.

- Scott encourages younger accountants to experience both public and corporate accounting. We typically work with for-profit businesses that do good.

- Niching by values allows for a deeper connection with clients.

- It's important to focus on business fundamentals, even in purpose-driven companies.

- Your best effort is always good enough, regardless of outcomes.

- Collaboration in the accounting community is essential for growth.

- It's harder than it looks to run a business successfully.

- Values alignment with clients leads to better outcomes.

- Personal experiences shape our approach to business.

Sound Bites

"I think empathy is a really great word."

"Our job is to be the Yoda to help guide them."

"It's about doing good in the world."

"It's about the value behind it and the integrity."

"Your best is always good enough."

Chapters

00:00 Introduction to Scott Fuller and His Mission

04:44 Scott's Journey into Accounting

11:39 Transitioning to Corporate Accounting

19:57 Starting Virtus Accounting Solutions

30:20 Defining Purpose-Driven Businesses

33:48 Purpose-Driven Business Models

36:18 Client Examples and Values Alignment

39:59 Niching by Values vs. Industry

42:52 Business Fundamentals and Growth Strategies

47:29 Advice for Aspiring Entrepreneurs

51:10 Personal Insights and Rapid Fire Questions

Connect with Scott: LinkedIn personal - https://www.linkedin.com/in/scottfullercpa/

Meet Georgia!

In this conversation, Zane speaks with Georgia Athanasiou, founder of Bay Area CFO Consultants, about her extensive experience in finance and consulting.

They discuss the evolution of fractional CFO work, the importance of understanding profitability and cash flow, and Georgia's career journey from public accounting to consulting. Georgia shares insights from her time at fast moving start-ups, lessons learned in cash flow management, and the significance of forecasting in today's volatile market.

They also touch on the importance of networking, finding a niche, and the challenges faced by aspiring consultants.

Takeaways

- Georgia Athanasiou has over 20 years of experience in finance.

- Fractional CFO work has evolved significantly over the years.

- Understanding unit economics is crucial for business profitability.

- Cash flow management is essential for business sustainability.

- Networking is vital for consultants to thrive in their careers.

- Finding a niche can lead to greater success in consulting.

- Visibility and marketing are important for attracting clients.

Sound Bites

"You need a team around you."

"Networking is key for consultants."

"Having savings helps reduce stress."

Chapters

00:00 Introduction to Georgia Athanasiou

03:04 The Evolution of Fractional CFO Work

06:15 Understanding Profitability and Cash Flow

08:26 Georgia's Career Journey in Finance

16:45 Lessons in Cash Flow Management

20:45 The Importance of Forecasting

24:04 The Appeal of Consulting

28:55 Finding Your Niche

32:54 Making an Impact with Clients

36:59 The Power of Networking

38:30 A Day in the Life of a Consulting CFO

43:14 Balancing Work and Personal Life

46:37 Travel Experiences and Challenges

48:22 Advice for Aspiring Consultants

51:28 Financial Wisdom for Success

53:46 Personal Insights and Rapid Fire Questions

Connect with Georgia: LinkedIn personal - https://www.linkedin.com/in/georgiaathanasiou/

Meet Lori Beth!

In this conversation, Zane interviews Lori Beth Merrill, a professional fiduciary, who explains the vital role fiduciaries play in estate planning and management.

Lori Beth shares her personal journey into the field, the services fiduciaries provide, and the emotional dynamics involved in working with families during sensitive times. She emphasizes the importance of having a solid estate plan and the need for fiduciaries in various situations, including special needs trusts.

The discussion also touches on the qualifications needed to become a fiduciary and the advice for success in this rewarding yet challenging profession.

Takeaways

- A fiduciary acts as a professional child for estate management.

- Expecting children to handle estate duties can be burdensome.

- Fiduciaries help optimize estates to save costs.

- It's crucial to have an estate plan in place before illness.

- Fiduciaries provide emotional support during difficult times.

- Communication with family members is key to reducing conflict.

- The demand for fiduciaries is growing due to complex family dynamics.

- Regular updates to estate plans are essential at life milestones.

- A career in fiduciary services requires a blend of empathy and financial acumen.

Sound Bites

"It's a recipe for disaster."

"It's a hidden world."

"This is too complicated."

Chapters

00:00 Introduction to Professional Fiduciaries

02:52 The Role of a Professional Fiduciary

06:08 Personal Journey into Fiduciary Services

14:49 Services Offered Before Passing

19:30 Navigating Family Dynamics

22:18 The Importance of Estate Planning Updates

27:49 When to Seek a Fiduciary

28:18 Understanding the Role of Fiduciaries

30:11 Finding a Fiduciary: Resources and Recommendations

32:29 The Hidden World of Fiduciaries

36:37 Who Should Consider Becoming a Fiduciary?

38:58 A Day in the Life of a Fiduciary

42:40 Keys to Success in the Fiduciary Profession

47:05 Personal Insights: Balancing Work and Life

Connect with Lori Beth: LinkedIn personal - https://www.linkedin.com/in/lori-beth-merrill-305a612a1/