Laura Shiel is the Virtual CFO at Clara CFO Group, a firm that specializes in offering strategic financial guidance and support to small businesses. With a diverse background in accounting and finance, Laura’s experience spans various sectors, including public accounting, financial services, and corporate finance in a Fortune 500 company. She holds two esteemed credentials in the finance world: she is a Certified Public Accountant (CPA) and a Chartered Financial Analyst (CFA). As a fractional CFO, Laura is dedicated to helping small business owners achieve their personal and professional aspirations.
Here’s a glimpse of what you’ll learn:
- Laura Shiel talks about her career trajectory and how she came to work at Clara CFO
- Laura’s approach to structuring the company’s work with clients to provide more value and accountability
- Taking strategic elements from big corporations and tailoring it to small businesses’ needs
- The importance of revisiting long-term goals in Q2 to inform Q4 planning
- Why is alignment with client’s strategic goals crucial for effective advisory support?
- Why you should focus on sales and marketing in Q3
- How to avoid fluctuations in cash flow
- Budgeting and financial planning strategies for small businesses
- Laura discusses the iterative budget-making process
- The value of setting up KPIs and dashboarding capabilities in Q1
- Using budget as a guide for thoughtful decision making
In this episode…
Strategic financial planning isn’t just an annual task—it’s a year-round endeavor. For small business owners, navigating financial challenges and opportunities throughout the year can be daunting. How can they maintain consistent financial health and growth? What strategies can make this ongoing process both manageable and effective?
Laura Shiel, a seasoned accounting and finance expert, highlights the importance of continuous financial planning. She advises that regularly setting and revisiting financial goals is essential. This practice not only aligns with the company’s evolving vision but also keeps pace with market changes. Laura emphasizes integrating financial planning with sales and marketing strategies, ensuring all business activities drive toward common objectives. Most importantly, she advocates for adaptability, highlighting that a flexible approach can significantly bolster a company’s financial resilience and growth prospects.
In this episode of the Financial Clarity podcast, Hannah Smolinski and Laura Shiel, Virtual CFO at Clara CFO Group, dive into the nuances of year-round strategic financial planning. They discuss critical aspects like setting dynamic financial goals, aligning these with broader business strategies, and the importance of flexibility in financial planning. This episode is packed with valuable insights for small business owners aiming to steer their financial journey with clarity and foresight all year long.
Resources Mentioned in this episode
- Hannah Smolinski: LinkedIn | Email
- Clara CFO Group: Website | YouTube
- Financial Clarity podcast: Website | YouTube
- Laura Shiel: LinkedIn | Email
- “Leveraging Social Media for Growth in the Design Industry” with Darla Powell on the Financial Clarity podcast
- “Selling With Authenticity and Respect” with Nikki Rausch on the Financial Clarity podcast
- Vivid Vision: A Remarkable Tool For Aligning Your Business Around a Shared Vision of the Future by Cameron Herold
- Entrepreneurial Operating System (EOS)
Sponsor for this episode…
Clara CFO is dedicated to providing financial clarity and profit-maximizing solutions to small businesses. The team at Clara CFO are seasoned accounting professionals with a heart for small business. We help growth-minded entrepreneurs thrive through Fractional CFO services and financial education.
Whether you’re grappling with hiring decisions, profit margin concerns, or ambitious growth plans, Clara CFO provides insights, recommendations, and a clear financial roadmap to achieve your goals.
To learn more about Clara CFO Group and how we can help your business, visit ClaraCFO.com.