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The Stress-Per-Dollar of Online Sales with Matt Putra
Manage episode 390799819 series 3332872
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I'm thrilled to share with you the highlights of my recent podcast episode where I had an enlightening conversation with Matt, an expert in e-commerce and a fractional CFO. We delved into the world of e-commerce, discussing how to increase profits while reducing stress. Here are some key takeaways:
- The Journey to Becoming a Fractional CFO: Matt shared his inspiring journey from being a CFO for a private equity group to becoming a fractional CFO for e-commerce businesses. His decision to prioritize family over long commutes is a testament to his values.
- Financial Transformation: Matt's strategic decisions led to a significant improvement in his company's net income. His love for accounting and finance played a crucial role in this transformation.
- The Power of Adaptation: Matt's success can be attributed to his ability to adapt his value proposition to meet customer needs. He also benefited from being an early player in the fractional CFO industry.
- Common Business Mistakes: Matt shared some common mistakes businesses make, such as over-hiring and restocking slow-moving SKUs. His advice? Hire slowly and prune the bottom 10% of SKUs every quarter.
- The Importance of Slow Growth: Matt emphasized the importance of slow and restrained growth. Scaling too fast can lead to problems like drop leads and mass churn.
- Personal Insights: Matt revealed his passion for MMA, specifically Brazilian Jiu-Jitsu and kickboxing. He also shared his blue-collar background and his vision for the future.
- The Challenges of Being a Fractional CFO: Matt discussed the challenges he faces as a fractional CFO for multiple businesses, including stabilizing lead generation and building a strong client success team.
I hope these insights spark your curiosity and inspire you to listen to the full podcast episode. Matt's journey and expertise offer valuable lessons for anyone involved in e-commerce or considering a career as a fractional CFO.
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