If talking about your business finances makes you sweat, you’re not alone. Accounting, budgeting, and tackling your numbers can feel daunting – but it doesn’t have to. In this episode of C-Suite Mentor, I chat with Danielle Hendon, former corporate accounting professional turned fractional CFO, to talk about making finances approachable, actionable, and even empowering for small business owners.
Meet Danielle Hendon
Danielle Hendon is the founder and owner of 4 Corners CFO, a firm offering financial advisory services to small business owners on a scale that fits their company and budget. Coupling her
decade of experience in corporate finance and accounting with her passion for small business owners, Danielle brings the benefit of “big business” financial analysis to entrepreneurs. Now, instead of helping corporations increase share prices, Danielle gets to help business owners increase their livelihoods so they can leave a legacy and lasting impact on their community.
Danielle Hendon on Making Finances Practical
One of the things that sets Danielle apart is her approach to financial strategy. She explains numbers in plain English and creates actionable steps for business owners. That approach resonates with clients who might otherwise avoid looking at reports or budgets (because let’s be honest – it can be a scary topic).
As a business owner, you don’t need to manage your numbers alone. You just need to partner with someone who can translate financial strategy into real-life decisions.
The Power of a “Mini Me”
Danielle helps business owners take their gut instincts and turn them into structured financial decisions. According to her, business owners are supposed to provide the vision and gut feelings, and she backs it up with numbers.
One of her strategies is helping clients hire what she calls a “mini me” – a trusted team member who can take over operational responsibilities. This lets business owners focus on growth and strategy while staying financially stable. Meaning finding the right person to be “you” will help you be more of the visionary, and less of the revenue driver!
The Ripple Effect of Financial Guidance
For Danielle Hendon, being a fractional CFO is about more than numbers. It’s about creating impact – helping clients sustain their business so they can, in turn, serve more people. She calls it being a “pebble in the pond”: the work she does for her clients creates ripples that positively affect countless others.
Danielle Hendon’s Reveal Framework
Danielle shares her signature six-part “Reveal Framework,” designed to take clients from basic bookkeeping to a complete understanding of their financial health:
- Bookkeeping & Balance Sheets: Ensuring the fundamentals are in place and clean.
- Revenue Analysis: Identifying what is actually bringing money in and understanding profit margins.
- Capacity-Based Budgeting: Understanding how much work your revenue-generating team members can do and projecting potential income.
- Operating Expenses: Categorizing expenses into required, personal perks, and investments in the business. This step usually uncovers unnecessary spending or overlapping subscriptions.
- Bottom-Up Budgeting: Creating a detailed budget for the entire year, including line-by-line expense tracking, ensuring business goals are aligned with reality.
- Cash Flow Forecasting: Going beyond traditional cash flow statements to predict timing of cash inflows and outflows.
The goal of budgeting isn’t just hitting the numbers. It’s understanding why numbers differ from expectations and knowing what adjustments to make. This will help you make informed decisions, whether it’s adjusting expectations, cutting unnecessary costs, or pivoting strategically.
You Don’t Have to Do It All Yourself
As a business owner, accounting isn’t your job. But what is your responsibility is knowing whether your business is on track. And if you don’t understand the reports you’re getting? Ask questions.
“Ask your bookkeeper, ask your accountant, ask your tax person,” Danielle says. “And if they can’t explain it to you in plain English in a way you can use, find somebody else.”
The Role of AI in Finance
Of course, AI is a big topic today in the business world. Danielle acknowledges that AI tools are making bookkeeping and analysis more efficient… but they can’t replace the human element.
“AI can run your numbers and tell you what they mean in general,” she explains, “but it can’t tell you what they mean for your business.”
That’s where the human touch matters: knowing your business, your goals, and your unique context.
Grab Danielle Hendon’s Free Workbook
4 Corners CFO works with a variety of professional service-based businesses, especially law firms and other people-powered companies. If your revenue depends on people delivering services, Danielle and her team can help you analyze capacity, adjust compensation, and create financial strategies that support growth.
And for listeners of The C-Suite Mentor Podcast, Danielle is offering a free workbook to walk you through her six-part “Reveal Framework” for building a path to profit. You can grab it here!
Resources Mentioned
Grab your free workbook: Reveal Your Path to Profit
Connect with Danielle Hendon on her LinkedIn and Instagram
Read Building Your Money Machine by Mel H. Abraham
Schedule a Virtual Coffee with Theresa
Book a C-Suite Snapshot with Theresa
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