Case Studies
Fractional CFO Engagements
Ongoing strategic financial leadership for growing businesses
Residential HVAC Business – Cash Flow & Profitability Improvement
A 17-year-old residential HVAC company with approximately $3.7M in annual revenue was profitable, but cash flow lagged effort.
The engagement focused on improving decision quality rather than aggressive growth. Work centered on lead qualification, operational efficiency, and unit economics – not expansion for its own sake.
12-month outcomes included:
- Revenue increased by approximately 12.7%
- Operating expenses reduced by approximately 4%
- Incremental revenue collected (cash received): $617,900
- Net profit increased by $75,383
The improvements were modest by design, but durable. Results were driven by better decisions, not higher risk.
Project-Based Strategic Advisory
Targeted support for specific decisions without ongoing engagement
Lead Generation Economics – Single Strategic Session
A professional services firm was evaluating a marketing arrangement positioned as "pay only when bookings occur," with no upfront cost and shared upside.
Engagement type: Single strategic session (1 hour)
The analysis focused on unit economics and incentive alignment rather than campaign execution.
Despite the framing, the client retained all economic risk, including advertising spend, platform fees, and conversion volatility. The findings showed that the external partner provided primarily intermediate services, with attribution tied to bookings rather than profitability.
At steady state, the client would have paid approximately $17,000 annually for limited incremental support in exchange for a material share of revenue.
The decision was to internalize the intermediate layer and retain control of incentives and economics.
Development Financing & Risk Management – Stephanis Group
A real estate developer with 40 years of experience was planning a three-phase mixed-use development in Dripping Springs, Texas (Austin suburb). The project required $27 million in financing to build 6 multi-tenant commercial properties and 18 homes over an estimated 3–5 year timeline.
With interest rates at historic lows, the company was evaluating multiple financing offers, including low-rate adjustable mortgages. The question: What happens if rates rise during construction? And how should phases be structured to manage risk while maintaining profitability?
The approach: I conducted market analysis, built phased cash flow models, and stress-tested interest rate risk. Recognizing that rates were at historic lows—a condition historical variance data couldn't fully capture—I overrode model assumptions and reran scenarios with elevated upside rate risk.
Recommendation: Scale back Phase I and II, increase Phase III scope, and reduce total loan size. This extended the timeline by a few months but substantially improved the risk profile and preserved operating reserves.
Outcome: The $27 million financing closed successfully. Within months, the Federal Reserve raised rates by 525 basis points in 16 months—the fastest tightening cycle in 40 years. The revised plan protected the company through an unprecedented rate environment while keeping the development on track.
Data informs. Judgment decides.
Analytics & Decision Support Projects
Data strategy, KPIs, and performance optimization
Marketing Analytics & Revenue Optimization – IoIo TV
IoIo TV had five active online marketing sources generating leads, but lacked integrated visibility into which channels were driving real long-term value. Marketing decisions were based on surface-level metrics like cost-per-click and immediate conversions, not retention or lifetime value.
The approach: I aggregated two years of historical data from five marketing sources, integrating over 61 data fields including demographic information, conversion tracking, engagement metrics, churn rates, and lifetime value. Using cohort analysis, I identified which acquisition channels brought high-retention, high-LTV customers versus users who churned quickly.
I modeled multiple budget reallocation scenarios using simulation models that factored in uncertainty, then recommended specific changes to optimize spend against cohort performance.
Results: Within 30 days, conversion rates and ROI improved, generating an additional $27,000 per month in revenue.
Following this initial engagement, I was retained as Fractional CFO and eventually hired as Chief Operating Officer. I led the company through 400% revenue growth and remained through the company's sale in 2024, completing a two-year contractual transition period.
How to Read These
These examples are meant to show how decisions are evaluated – not to promise outcomes.
Every business faces different constraints, incentives, and tradeoffs. The common thread is disciplined analysis paired with experienced judgment.
Optional: If you're facing a consequential decision and want a clear, grounded perspective, we can discuss whether a strategy call makes sense.