EMyth's Search For Financial Team Stability

EMyth Challenges

Ilene Frahm, CEO of EMyth, joined the company as a salesperson more than four decades ago and even held the CFO position for a time in the late 80’s and early 90’s. After years of performing the role herself and replacing herself with highly competent  finance staff, she knew what she was looking for. Even after EMyth engaged Preferred CFO, it took some time to find the perfect match (as all good things sometimes do):

• The first two CFO’s were highly-experienced and genuinely engaged but faced unplanned personal circumstances that led to a brief tenure in this role.
  
  
• The third CFO was highly skilled, had the perfect working style and personality match for EMyth and made real progress, but eventually retired to pursue a mission abroad.

Throughout each transition over four years, Preferred CFO remained fully committed to EMyth’s success and growth, working with Ilene to meet her finance staffing requirements. EMyth was fortunate that the Finance Associate assigned to their account, the person accountable for many of the day to day tactical finance functions, has been a consistent presence from the start of their relationship with Preferred CFO. Eventually, EMyth’s fourth and current CFO, Julie, proved to be the ideal long-term partner for EMyth’s financial leadership. 

The Solution

Despite, or maybe even because of a rocky start, Ilene’s trust in Preferred CFO grew as she experienced our dedication to finding the right leadership fit. Jerry Vance, Scott Crawford, and the broader team consistently demonstrated not only technical expertise but also a genuine personal investment in EMyth’s well-being and ultimate success.

When EMyth’s third CFO from Preferred CFO decided to retire, he recommended Julie, a seasoned financial professional. Together with the rest of EMyth’s finance team from Preferred CFO, Julie jumped in and quickly provided the financial wisdom and knowledge that Ilene was looking for.

The Power of the Preferred CFO Team

Ilene describes Julie as the embodiment of “earnest”—someone who genuinely cares about her work and is wholly committed to getting the details right.

“We needed somebody who, without ego, just really takes what they do seriously and they're not just going through the motions. Julie sees things that other people miss. She works late when necessary. Julie takes what she does seriously, not in a prideful way, just in a ‘this needs to be done right’ way.”

- Ilene Frahm, CEO

Whether revising financial entries from prior years or crafting accurate, budgets and projections, Preferred CFO understands that financial reporting is the foundation of smart, strategic decisions:

“I never feel if I ask Julie to go back and change something or refine something that there’s any hesitation. She always understands why any detail is important. Julie sees finance as an art form.

- Ilene Frahm, CEO

For Ilene, the rest of the Preferred CFO team, working alongside Julie, shares the same dedication to precision. This team-driven approach has fostered a close working relationship rooted in mutual respect. Ilene and Preferred CFO share the belief that financial statements and reports should be a source of clarity and confidence, making the entire collaboration an essential component of EMyth’s continued growth.

The Results

Working closely together with EMyth and our internal experts enabled Preferred CFO to deliver meaningful, key improvements for Ilene and her team.

• A Highly Cohesive Team: In addition to Julie, EMyth also works with a Finance Associate (Cami) and a Controller (Anna). All three integrate seamlessly with Preferred CFO’s broader expertise, collectively providing thorough and responsible financial oversight.
  
  
• Genuine Trust and Transparency: EMyth appreciates the authentic care and openness they experience from everyone at Preferred CFO. This relationship transcends a typical vendor-client dynamic, aligning with EMyth’s people-centric values and culture of transparency.
  
  
• Ongoing Operational Efficiencies: With expert guidance from Preferred CFO, EMyth has streamlined financial processes and reporting, improved statement accuracy, and addressed day-to-day business hurdles effectively. This continued clarity has freed EMyth leadership to prioritize major company goals: including a  transition from Salesforce to HubSpot as their CRM and source of truth, the launch of their first online community for small business owners, EMyth Connect, and continued growth.
  
  
• Adaptations to a Remote World: SinceSince going fully remote in 2019, EMyth has benefited from Preferred CFO’s flexible services and cloud-based reporting abilities. This adaptability has helped sustain strong financial controls in a distributed work environment, no matter where employees and resources are located.

Strengthening the Financial Backbone

"After a series of full-time and fractional CFO disappointments, EMyth found support from Preferred CFO’s fractional CFO team that we can depend on. We’re confident in their budgets, financial reports and their partnership in making strategic decisions. Our partnership with Preferred CFO has freed our leadership team to focus on what matters most: helping business owners worldwide create the business of their dreams.”

- Ilene Frahm, CEO

Looking Ahead

EMyth regards Preferred CFO not just as a service provider but as an essential extension of its leadership team. The synergy between Julie’s straightforward approach and the experience of the full Preferred CFO team allows EMyth to keep scaling its offerings without sacrificing fiscal discipline. We are encouraged by the proof of concept on how dedicated, expert CFO support can solve financial challenges and support a business and a brand like EMyth to flourish in its next phases of growth.