Beyond Taxes: Why Every Growing Business Needs a Fractional CFO

Podcast Episode 9 – Featuring Marcus Rien, Founder of Waves CPAs

Think a CPA is just for tax season? Think again.

In this episode of the Growth Department podcast, we’re joined by Marcus Rien — a former corporate CFO and the founder of Waves CPAs. He’s on a mission to help business owners rethink the role of finance in their growth strategy. From startup to exit, Marcus breaks down when and why your business might need more than just a bookkeeper, and how a fractional CFO could be the secret weapon you didn’t know you were missing.

Most founders aren’t secretly doubling as financial experts on the side. They started a business because they had a great idea, a valuable skill set, or a problem they wanted to solve, not because they love spreadsheets. But here’s the truth: if no one on your team is great with financial strategy, it will eventually catch up with you.

Listen to the full episode here.

Marcus puts it simply: “Just because you understand your business the best, doesn’t mean you have to do everything in it.”

That’s where getting much needed help from a fractional CFO comes in.

What’s a fractional CFO, and when do you need one?

A fractional CFO is a high-level financial expert who joins your team part-time. They bring executive-level insight without the full-time salary and benefits commitment.

This kind of financial partner can help you:

• Analyze cash flow and forecast future financial health

• Create or improve internal financial processes

• Evaluate systems, tools, and tech spend across departments

• Support fundraising, acquisitions, or exit prep

• Uncover financial blind spots that could be costing you growth

These aren’t tasks your average bookkeeper is trained for. And while QuickBooks might track your expenses, it won’t help you decide whether to scale, raise capital, or reduce waste across the org.

If you’re hiring, expanding, or seeing your margins get thinner as revenue grows, that’s your cue. You might not need a full-time finance hire, but you do need someone who can help you look under the hood and ask the hard questions.

The growth-stage finance mistakes no one talks about

Marcus shares real-world stories from his time as a fractional CFO, including one HR issue that was bleeding money from the business, and no one caught it until the financials forced the conversation. He’s also seen teams unknowingly pay for duplicate tools across departments, rack up unnecessary software subscriptions, and allow expense report fraud to go unchecked for years.

Without someone reviewing the data holistically, these problems fly under the radar.

Financial oversight isn’t just about saving money; it’s about aligning your dollars with your growth strategy. And it gets even more important when you’re preparing to sell.

Planning an exit? Start here.

Whether you want to pass your business to a family member or sell it to a strategic buyer, your financial systems need to stand up to due diligence. That includes clean books, smart forecasting, and confidence that your numbers reflect the real state of the business.

According to Marcus, a fractional CFO can help you:

• Prepare documentation and internal processes ahead of diligence

• Avoid costly corrections later by getting ahead of inefficiencies

• Potentially raise your valuation by optimizing margin and spend

How much time should you plan ahead for an exit? Marcus suggests giving it at least a year. Ideally more.

The founder mindset shift: You don’t have to know it all

One of the most powerful moments in this episode is when Marcus addresses a common fear among founders: that bringing in a financial expert is admitting failure. In reality, it’s the opposite. It shows leadership.

“You’re not expected to think about every aspect of the business all the time,” Marcus says. “But you are expected to make decisions that help the company grow.”

A fractional CFO can help you do just that.

Final thought: Don’t let SALY hold you back

“SALY” — same as last year — is a mindset that stifles innovation and drains resources. This episode is your permission slip to challenge that thinking and explore smarter ways to run your business.

If you’ve ever wondered when to bring in financial support or whether your internal systems are truly set up for scale, this episode is a must-listen.

🎧 Listen now to Episode 9: Beyond Taxes: Why Every Growing Business Needs a Fractional CFO on our website or anywhere you take your podcasts!