The Art of Succession

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Welcome to The Art of Succession Podcast. Host Barrett Young, CPA, talks with Jennifer Fizer, CEO and Fractional CFO at MKB CFO and Bookkeeping and Host of The Financial Operator Podcast, about her journey from working early jobs after the 2008 recession to becoming a business owner through acquisitions. Jennifer shares how she bought and turned around a struggling coffee shop, later sold it, and eventually acquired the fractional CFO firm she once worked with as a contractor. She reflects on lessons from buying and selling businesses, learning new industries quickly, and helping companies manage their finances with confidence. Today, she helps service and trade businesses improve cash flow, understand their numbers, and build stronger financial systems for long-term success.

Jennifer shares her journey from early career struggles after the 2008 recession to becoming a business owner through acquisitions. She talks about buying a struggling coffee shop with little money, learning how to turn it around, and later selling the business after several years of growth. Jennifer explains how those experiences helped her step into the world of fractional CFO services and eventually purchase the firm she worked with as a contractor. She shows how resilience, practical problem-solving, and learning new skills can shape a path to ownership. Her story highlights the value of persistence, adaptability, and helping business owners understand their finances with confidence.

Join Jennifer Fizer, CEO and Fractional CFO at MKB CFO and Bookkeeping, as she shares lessons from buying, running, and selling small businesses. Hear how she turned around a struggling coffee shop, why she believes entrepreneurs can learn any industry, and how her path led her to acquire a fractional CFO firm. Learn how Jennifer now helps business owners understand their finances, improve cash flow, and build stronger businesses.

Episode Highlights
[00:00:00] - Teaser
[00:02:04] - Host introduces guest Jennifer Fizer
[00:02:36] - How Dave Ramsey sparked Jennifer's entrepreneurship
[00:05:00] - From tree trimmer to accounting degree
[00:08:00] - Learning tough lessons as a farm CFO
[00:09:57] - Buying first business (coffee shop) for "basically free."
[00:12:13] - Navigating personal loss while running a business
[00:15:43] - Why "deals" aren't always deals
[00:18:35] - Quick wins that turned the coffee shop around
[00:21:02] - Working at a fractional CFO firm & learning the model
[00:23:32] - Selling the coffee shop after a viral Facebook post
[00:25:57] - Seller side lessons & the value of an appraisal
[00:33:00] - Getting the unexpected offer to buy MKB
[00:36:00] - Why Mills sold & why Jennifer said yes immediately
[00:39:51] - Transitioning clients, name, & staff
[00:43:12] - The emotional rollercoaster of ownership
[00:47:30] - Growth plans & using past experience
[00:50:42] - How past struggles make her a better CFO
[00:52:13] - Advice: "Just pick something and go do it"
[00:55:10] - Lightning round begins
[01:02:34] - Where to find Jennifer & MKB