#52: A Fractional CFO’s Unique Approach to Growth, with Michael Barbarita Artwork

Business On Purpose Podcast

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Business On Purpose Podcast

#52: A Fractional CFO’s Unique Approach to Growth, with Michael Barbarita

November 05, 2024 • Barry Barrett • Episode 52

In this episode of Business On Purpose, host Barry Barrett interviews Michael Barbarita, the founder and CEO of Next Step CFO. Michael is a seasoned Contracted CFO, with an incredible journey and expertise in guiding small businesses to sustainable success. Together, Barry and Michael dive deep into powerful strategies that create more consistent profits and time freedom for business owners. Michael shares his unique approach to financial management and growth, using strategies often overlooked by competitors.

Key Topics:

Michael’s Journey – From selling two successful businesses to founding Next Step CFO, Michael discusses his early experiences and his pivot to becoming a Contracted CFO.
Risk Reversal Strategies – Michael explains his innovative approach, including his popular "ski guarantee" tactic, which turned a small risk into a huge sales increase. Barry and Michael discuss how this concept can be applied across industries.
CFO vs. CPA – Barry and Michael clarify the often-misunderstood roles of CFOs and CPAs, emphasizing the strategic, forward-thinking approach that differentiates a CFO.
The Conversion Formula – Michael introduces his 4-step "Conversion Formula" (Captivate, Fascinate, Educate, and Offer) and how it’s used to engage customers emotionally and logically.
The Power of Indifference in Sales – Barry and Michael explore how demonstrating indifference to the outcome of a sale can build trust and encourage genuine customer engagement.
Seven Revenue-Driving Activities – Michael shares seven areas that can significantly impact revenue, including client retention, average dollar per sale, and frequency of sale.

Top Quotes:

“You can’t keep doing what your competition is doing. You have to differentiate yourself.” - Michael Barbarita
“People want to do a good job, and they want to pay you.” - Barry Barrett
“Captivate and Fascinate create emotion; Educate brings the logic.” - Michael Barbarita

Connect with Michael Barbarita:

Website: Next Step CFO
Schedule a Complimentary Book Interview: Visit the contact page and mention "Book Interview" for access to Next Step CFO's proprietary financial strategies.

Tune in for More: Barry and Michael's dynamic conversation offers invaluable advice on blending financial insight with sales strategy, bringing together the best of both worlds for business owners. Catch this episode and see how powerful CFO services and unique sales strategies can redefine success for your business.