Burt Copeland CEO of New Life CFO Joins Henry Harrison on Entrepreneurs, Business & Finance

Burt Copeland, founder and CEO of New Life CFO, joins Henry Harrison to discuss how his near-collapse during the 2008 financial crisis became the catalyst for building one of the leading fractional CFO and outsourced accounting firms. Serving companies from roughly $2M to $80M in revenue, New Life CFO combines strategic CFO guidance with clean, decision-ready books—because even the best CFO is useless without accurate data. New Life CFO: https://newlifecfo.com/ Episode: https://henryharrison.com/burt-copela... The conversation is rich with real-world tools, client success stories, and the deeply personal faith journey that gave the company its name. Key Takeaways What New Life CFO Does -Two-thirds of the business is fractional/outsourced CFO services -One-third is outsourced accounting, controller, and accounting-manager support -Focus: drive sustainable cash flow, EBITDA, and enterprise value -Core belief: “Even a great CFO can’t make good decisions on bad information.” Typical Clients -Accounting services: $1M–$25M revenue -CFO services: generally $5M–$80M revenue -Rule of thumb: “As soon as I start looking like overhead, fire me.” Philosophy Your financial statements are nothing more than a historical reflection of your people, decisions, behaviors, processes, and systems. To permanently change the numbers, change one or more of those five drivers. Burt’s 2008 Story Grew a construction subcontractor from $7M to a $30M run rate. In April 2008, revenue fell 86% overnight when banks froze all construction lending. Lost $6–7M of personal net worth in months. The crisis produced both a business and faith epiphany that led him to sell the company and start New Life CFO with a mission to keep other entrepreneurs from stepping into the same “bear trap.” Why “Operational CFOs” Every CFO on the team has P&L ownership experience (GM, COO, or prior business owner) and has professionally “stubbed their toe” somewhere along the way—creating empathy, humility, and practical insight that pure finance backgrounds often lack. Client Example – Doubling Profitability Fast A software/installation company was stuck at ~3.5% margins (industry average ~10%). Using a simple profit-leak exercise with colored dots from sales, ops, and accounting teams, they discovered technicians were routinely “stepping over” two unbilled hours per week per tech. Capturing those change orders added six figures of pure bottom-line profit almost immediately.Favorite Metric: Revenue per Head Example benchmark of $25k/month per employee: Above $27–28k → start the hiring process (prevents burnout) Below $22–23k → let attrition work or prepare reductions The “Cone of Performance” Forecasting Method Instead of demanding perfect projections, map an upper aspirational line and a lower “minimum acceptable” line. The gap creates a cone. As long as performance trends toward the top line and stays inside the cone, keep going. Flat or declining trajectory inside the cone = early warning to pivot.Origin of the Company Name “New Life CFO” During the darkest days of 2008, Burt prayed two questions: “What do You want me to learn?” → Answer: “You’re not using My gifts, and you left Me behind.” “Where do You want me to go?” → Answer: “Use My gifts and take Me with you.” The company exists to use God-given financial and operational gifts to serve entrepreneurs in a God-honoring way through “Care-Frontational” (caring but direct) partnership.Diagnostic Services Offered Turning Sweat Equity into Gold – exit/life-after-business planning (personal vision → gap analysis → value-building roadmap) Insight 29:11 – deep dive into structural EBITDA, cash flow, and value-creating vs. value-diluting revenue streams How to Get Started Call, email, or use the contact form on the website. The first 60–90 minute conversation is completely free and zero pressure. If New Life isn’t the right fit, Burt will happily refer you to the best alternative (he often knows the competitors better than you do).Memorable Quotes“As soon as I start to look like overhead, you need to fire me.” “Your financials are nothing but a historical reflection of your people, decisions, behaviors, processes, and systems.” “We say Care-Frontational because it’s okay if you prove us wrong—it’s not okay to avoid the conversation.” “If I just serve you well, I will be served.” Who Should Listen Entrepreneurs and CEOs of $2M–$80M companies who have outgrown their bookkeeper or internal controller, anyone facing (or who has survived) a cash-flow scare, and owners starting to think about life after exit.