Main Responsibilities of an Advisory CFO Consultant for Small Businesses
Jessica, CEO of IRR Investments, wears many hats, acting as a CFO advisory consultant to small businesses where the role is "the whole gamut," from daily finance and strategy to sales and product development, and simultaneously managing their own fitness studios and hospitality company, requiring "all hands on deck" in areas ranging from sales and partnerships to operations and human resources. This multifaceted approach leverages Jessica's finance background while providing a dynamic, engaging career path.
Finance, Entrepreneurship, Small Business Management, Leadership, Strategic Planning
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Jessica Thumati
CEO
IRR Investments
University of Arizona
N/A
Business & Related, Finance, Accounting
Consulting & Related Professional Services
Finance
None Applicable
Video Highlights
1. Jessica's role involves serving as a CFO advisory consultant to small businesses, encompassing day-to-day finance and strategic planning. This includes a wide range of responsibilities beyond typical finance roles, such as sales, product development, client interaction, and vendor management.
2. She also owns and operates multiple businesses (fitness studios and a hospitality company), requiring her to be involved in all aspects of operations, including sales, partnerships, community relations, finance, operations, human resources (hiring, terminations, onboarding), and vendor/client management.
3. Jessica highlights the importance of a strong financial foundation in business success, emphasizing that numbers are the backbone of any business while sales drive its engine. Her varied experiences showcase the dynamic nature of entrepreneurship and the diverse skillset needed to succeed in small business ownership.
Transcript
What are your main responsibilities in your current role?
That's a great question. I have a couple of different roles.
I have several businesses. One of them is as an advisory CFO consultant to small businesses, so I act as their CFO. I also own fitness studios and a hospitality company.
My current role is really across the board, which I like because it keeps me on my toes and I'm constantly doing different things. In my CFO business, my role is serving my clients with their day-to-day finances and the strategic side.
Because it's small business, it's not siloed. I get involved in sales, product development, and interacting with clients for my clients. I also handle vendor and inventory management, so it's the whole gamut.
In the other businesses I own, it's all hands on deck. This ranges from sales, partnerships, and community involvement. Obviously, there's the finance aspect, because that's my background.
I also handle operations, human leadership, hiring, terminations, onboarding, dealing with insurance companies, vendors, and clients. It's really a full gamut.
Again, that's why I think those small businesses are a better fit for me because I'm not siloed into one thing. I'm constantly doing different things, but I was able to leverage my background in finance and accounting because the numbers are the backbone of the business, and sales are what keep that engine going.
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