Duke Heninger's journey from CFO to acquisition entrepreneur is a tale of resilience, adaptation, and learning. Taking on a restoration company, Duke faced the steep challenges of an industry built on trust and relationships, grappling with cash flow issues and operational hurdles. An unexpected large job opportunity provided a lifeline, allowing him to stabilize the business temporarily. However, the relentless challenges of sales, finances, and the impacts of COVID-19 led Duke to a critical decision: selling the company. This journey, filled with trials, taught him invaluable lessons on due diligence, cash forecasting, and the essence of building genuine relationships. Now a fractional CFO, Duke's experiences have equipped him to guide other entrepreneurs through their financial challenges with empathy and effectiveness.


00:00 Introduction and Background

00:27 Early Career and Ambitions

01:22 Entering the Acquisition Entrepreneurship

03:07 Initial Challenges and Overconfidence

04:13 Commitment and Support

04:35 Regretting the Decision

05:11 Challenges in the Restoration Industry

06:24 Unforeseen Issues in Due Diligence

08:16 Cash Flow Challenges and Accounts Receivable

10:24 Reducing Operating Expenses

12:26 The Importance of Cash Forecasting

13:44 Building Relationships and Winning Business

15:30 Expense Reduction and Moving Locations

19:17 Unexpected Job Opportunity

21:11 Financial Relief and Asset Refinancing

22:30 Seeking Financial Support

23:20 Struggling with Sales and Finances

25:09 The Impact of COVID-19

26:27 Adding Complexity to Solve Problems

28:25 Challenges with Franchise Model

29:45 The Decision to Sell the Company

31:22 Changing Mindset and Focusing on Solutions

34:20 Negotiating the Sale and Closing the Business

39:22 Lessons Learned and Moving Forward

42:09 Role of a Fractional CFO

43:30 Applying Acquisition Experience to Current Work