Taking Control of Your Business Finances: Melissa Armstrong on Smart Growth and Financial Clarity

For many business owners, accounting can feel like a necessary evil—one more thing on an overwhelming to-do list. But Melissa Armstrong, CPA, founder of SteadyHand Accounting & Advisory, sees it differently. For her, financial strategy isn’t just about compliance and bookkeeping—it’s about control, confidence, and setting the foundation for real growth. In this episode of Badass Women in Business, Melissa walks us through why every business, no matter how small, needs a solid financial system in place and how a fractional controller (like herself) can be a game-changer.

Melissa’s journey to entrepreneurship wasn’t a straight line. Born into a family of accountants in Puerto Rico, she swore she’d never follow in their footsteps. But after studying English, switching to engineering, and then taking an accounting class, she fell in love with the very thing she said she’d never do. That realization set her on a career path that took her through public accounting, financial planning, and corporate roles before ultimately deciding to build her own practice. Today, she helps businesses across industries—from startups to multi-million-dollar companies—establish financial systems that work for them, not the other way around.

From Puerto Rico to Spain to Denver: The Journey to Entrepreneurship

Melissa’s path to business ownership is anything but typical. After working for years in finance and accounting, she made an unexpected move—she packed up and relocated to Madrid, Spain. What was meant to be a short trip turned into a three-year adventure of teaching English, immersing herself in a new culture, and redefining what she wanted out of her career.

But financial expertise has a way of calling people back. After her time in Spain, Melissa landed in Denver, initially couch-surfing while figuring out her next step. She re-entered the accounting world but with a fresh perspective. Over the years, she worked with everything from early-stage startups to major corporations, gaining a wealth of experience in different industries and financial structures. And yet, something was missing—autonomy. In 2023, she decided to take the leap and start SteadyHand Accounting & Advisory, bringing her years of expertise to business owners in a way that felt more meaningful and aligned with her values.

What a Fractional Controller Can Do for Your Business

One of the most common misconceptions about accountants? That they only handle taxes. Melissa is quick to clarify that her role as a fractional controller is different. Rather than preparing tax returns, she works with businesses to streamline financial processes, optimize cash flow, and ensure accounting systems run efficiently.

So how do you know when it’s time to bring in someone like Melissa? She breaks it down simply:

• You’re drowning in financial admin. If bookkeeping is taking too much of your time (or your office manager’s time), it’s time to reassess.

• You’re making money, but don’t know where it’s going. Struggling with cash flow despite strong revenue? That’s a sign that your financial processes need work.

• You’re hiring, scaling, or expanding. If your business is growing, your financial systems need to grow with it.

• You need better financial insights. Gut instinct can only take you so far. Clear financial data helps business owners make informed, strategic decisions.

As Melissa puts it, “Your business is never too small to start thinking about financial structure. The sooner you put the right systems in place, the easier it will be to grow.”

Cash Flow Problems? Start Here

One of the biggest financial pain points Melissa sees? Cash flow management. Many business owners don’t realize how much it costs to run their business on a monthly basis. They scramble to make payroll, delay vendor payments, or struggle to collect what they’re owed, but never feel like they’re getting ahead.

Her advice? Stop waiting until the end of the month to look at your numbers. Businesses should be reviewing cash flow weekly, not monthly or quarterly. A simple 13-week cash flow projection can help owners anticipate financial hurdles before they happen, rather than reacting to crises as they arise.

Other quick wins? Tightening up invoicing and collections processes, negotiating better payment terms with vendors, and streamlining financial reporting. The goal is to create a system where financial health isn’t a mystery—it’s something business owners understand and control.

Scaling a Business Without Losing Your Sanity

While Melissa is a financial expert, she’s also a business owner navigating the challenges of entrepreneurship. She understands firsthand the balancing act of marketing, client work, operations, and business development, and she doesn’t shy away from admitting that the learning curve is real.

For her, the biggest shift has been embracing community over competition. She emphasizes the importance of finding a network of other founders—not just for business referrals, but for emotional and strategic support. Friends and family may cheer you on from the sidelines, but they don’t always understand the highs and lows of entrepreneurship. That’s why Melissa advises business owners to surround themselves with other founders who are in the trenches with them.

Lessons from the Entrepreneurial Journey

Melissa’s biggest takeaway from building her own firm? You don’t have to do everything yourself. Whether it’s outsourcing marketing, IT, or administrative tasks, business owners should focus on what they do best and bring in experts to handle the rest.

And when it comes to pricing and value, she offers this reminder: Confidence in your pricing is key. Too many business owners undercharge for their services out of fear, but Melissa encourages entrepreneurs to own their expertise and charge accordingly.

Final Thoughts

Melissa Armstrong is on a mission to help business owners take control of their finances and create systems that support, rather than drain, their growth. Whether it’s cash flow management, internal controls, or financial strategy, her expertise helps businesses operate with more clarity, confidence, and efficiency.

For any business owner feeling overwhelmed by their numbers, Melissa offers a simple message: You don’t have to do it alone. Whether you’re struggling with financial processes or scaling your company, a fractional controller like Melissa can help you get organized, stay ahead of cash flow issues, and set the foundation for long-term success.

Connect with Melissa Armstrong & SteadyHand Accounting

Website: SteadyHand Accounting & Advisory
LinkedIn: Melissa Armstrong
Company LinkedIn: SteadyHand Accounting
Instagram: @steadyhandacct

Want to learn more about how Melissa can help your business? Reach out, get connected, and take the next step toward financial clarity.