Executive Summary
- Michael Stier sought a high-impact second chapter focused on strategic coaching without the stress of traditional operational overhead.
- The Challenge & Strategy: Building the Charlotte market from scratch during 2020 lockdowns by running a high-volume virtual networking campaign focused on deep, trust-based relationships.
- The Blueprint: Succeeding in market development relies on the "90% Rule"—leading with authentic passion and memorable energy rather than technical mechanics.
When former executives look for their next professional chapter, they are rarely looking to recreate the administrative grind of their previous roles. For Michael Stier, transitioning after exiting his business meant finding a way to stay intellectually engaged without the exhausting operational overhead.
"I wanted to do the things that actually float my boat, without all the stuff that used to stress me out as a business owner," Stier explains. "FocusCFO found me, and right away it checked a number of boxes that just worked for me."
When a recruiter introduced him to FocusCFO, the fractional CFO model resonated with him. As the CEO for his previous company, Stier had played the role of CFO out of sheer necessity. Looking back, he realized that managing those complex financial structures himself was not the best use of his time. "If I had known about fractional CFOs back then, I always say I would have fired myself in an instant and brought one on."
Seeing a distinct market need, Stier joined FocusCFO as an Area President. The challenge, however, was significant: he was establishing a brand-new market in Charlotte, North Carolina—a new region for FocusCFO at the time.
Laying the Groundwork Under Lockdown
At the time Stier stepped into the role, FocusCFO had not expanded further south than Cincinnati. Stier was the tip of the spear for the firm’s southeastern expansion. "Ignorance is bliss," Stier recalls of the early days. "I didn't fully realize what it meant coming into it. I just viewed it as a challenge. I had founded a business before, so I was used to figuring things out and pounding through. I assumed I'd do the same here."
That resolve was tested immediately. Stier launched his practice in 2020, right in the midst of the lockdowns. With traditional networking and face-to-face meetings entirely off the table, he had to adapt his business development strategy.
Stier began systematically scheduling video calls from his home. Utilizing a core principle from his FocusCFO onboarding, he made it a rule to always ask every contact for three introductions. The strategy snowballed. Within a short period, Stier was conducting eight to twelve calls a day. "In the first six months, I went literally a mile wide and an inch deep in building a referral network," he says. "But that was by design."
Relationships Matter: The "Shoe Leather" Methodology
Six years into running his successful Charlotte practice, he attributes his success to that strong referral network. "I am still a firm believer in the 'shoe leather' approach," Stier says. "The one-on-one, relationship-building approach over time is still by far the most effective method."
While digital tools can provide marginal support around the edges, Stier notes that 80% to 90% of his pipeline and the book of business he has built comes directly from trust-based relationships.
Beyond building the network itself, Stier found that the real reward of these relationships was the sheer variety of business owners he got to meet with. Unlike his previous business, which was locked into a narrow vertical, the Area President role opened the door to a massive multi-industry landscape. "In my prior business, we worked with small business owners... I get to do that now, but now I'm helping businesses in multiple industries, and not just the one vertical that I used to work in. I love that I now have clients in just about every industry."
The 90% Rule: Selling Energy, Not Mechanics
Now, as the Charlotte market matures, Stier is in the process of adding several new Area Presidents to his local team. The advice he shares with them is the same, whether they are stepping into an entirely untouched market or joining an established territory.
"You really have to have the passion for what it is that we want to do, and it has to show," Stier explains. "Most people you meet will probably forget 90% of what you tell them about our practice and the mechanics of what we do. They get the general contours. But what they do remember is your enthusiasm, your passion, and your energy."
For executive-level professionals considering the Area President role, Stier emphasizes that this passion has been the key to his success. "If you don't get energized by this, it just makes the role harder," Stier concludes. "It's hard to be remembered without that energy."
Are you an experienced business leader, former banker, or executive looking for professional autonomy, community-level impact, and a supportive network of senior leaders? Discover how the Area President role allows you to build a successful consulting practice backed by a proven national system.
