GrowCFO Show: Recent Episodes
Kevin Appleby
https://open.spotify.com/episode/2ZGZXsiAU9uEVPsIAGbSUjAI is now embedded in almost every corner of the finance function, powering forecasts, reports, and board-ready insights at unprecedented speed. Yet when powerful systems are plugged into weak data, broken processes, or poor governance, they don’t just make mistakes, they do it with absolute confidence and immense credibility. For CFOs, the real risk isn’t that AI is wrong; it’s that it looks so right no one stops to question it.
In this GrowCFO Show episode, Kevin Appleby speaks with Don Rogers, Managing Partner & Founder of Invictus Global Advisors, LLC, to explore how AI can mislead finance teams with highly convincing but incorrect outputs, and what CFOs must do to protect decision-making. Rogers explains that while AI has reignited interest in finance transformation, many CFOs are layering powerful AI tools onto broken operating models and poor-quality data. The result is not better insight, but faster, more polished versions of the same flawed information, sometimes delivered with total confidence, yet fundamentally wrong. He stresses that without strong governance, data enablement, and process discipline, AI will amplify dysfunction rather than cure it.
Rogers positions AI as a catalyst that forces CFOs to rethink the strategic finance operating model, not a magic fix. He introduces a 10-component model spanning strategy, talent activation, service delivery, process optimization, governance, data, digital and AI, insights and analytics, constituent experience, and benefits realization. Throughout the conversation, he illustrates how weak change management, undocumented processes, and poor culture (e.g., fear of “red” status) cause transformations to miss their promised benefits, even when the technology works. His message is clear: AI can unlock the long-promised vision of finance as a true strategic advisor, but only if CFOs fix their operating model, embed strong governance, and keep “humans in the loop” to challenge and validate AI outputs.
Key topics covered:* Don explains how AI, when layered on top of a broken finance operating model and poor data governance, will “amplify the dysfunction” and produce confidently wrong answers instead of better insight. * He shares a real client example where the same AI prompts produced two completely different board reports, underscoring the risks of hallucinations, model drift, and weak governance in AI-led reporting. * Rogers introduces his Strategic Finance Operating Model with 10 components, showing CFOs how to connect corporate strategy, talent, processes, data, AI, and benefits realization into one coherent blueprint. * The discussion highlights sobering transformation statistics (e.g., high failure and dissatisfaction rates) and links them directly to poor change management, cultural resistance, and cutting “change” from budgets first. * Don stresses the need for a new apprenticeship model in finance: young professionals must learn AI, data, and tools, while experienced leaders focus on change enablement, strategic storytelling, and constituent experience. * The conversation explores the evolution from bespoke AI to generative and agentic AI, and why CFOs must demand strong guardrails, governance, and documented processes before trusting AI in core finance tasks like journal entries.
Links* Don Rogers on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps: * 0:02:21 – AI, changing expectations of CFOs, and why layering AI on a broken model only “amplifies the dysfunction.” * 0:04:46 – Don’s story of a CFO getting two different AI-generated board reports from the same prompts, and the risks of hallucination, drift, and bad data. * 0:06:13 – How young professionals must learn AI, data, and tools, while senior leaders become change catalysts and keep “humans in the loop.” [episode296] * 0:11:39 – Why 50% of transformations never get off the ground and ~70–80% fail to deliver expected benefits; Don links this directly to change management and human behavior, not technology. * 0:17:32 – The importance of tracking outcomes and benefits: business cases are created, funded, then forgotten, driving the gap between promised and realized value. * 0:20:23 – Culture, governance, and the “green-to-red” effect: why everything looks green until a project suddenly turns red, and how fear and blame stop early escalation. * 0:22:41 – Don outlines the Strategic Finance Operating Model components (strategy, talent activation, service delivery, process optimization, governance, data enablement, digital & AI, insights & analytics, constituent experience, outcomes & benefits). * 0:23:39 – Evolution of AI in finance: from bespoke models to embedded generative AI in ERPs and point solutions, and now to agentic AI acting on goals, not just instructions. * 0:28:27 – Agentic AI and governance: Don’s epilogue on corporate and government responsibility for guardrails, and why AI is still only as good as the instructions and constraints given. * 0:32:16 – Journal entry example: a client’s agentic AI project hits a 96% fail rate because underlying code-block rules weren’t built into the model. * 0:33:33 – The hidden risk: critical business processes exist only in people’s heads, never documented, leaving AI with no reliable instructions to follow. * 0:35:04 – Deeper dive into the 10 components and how to prioritize projects when organizations can only handle 5–7 major initiatives at a time. * 0:39:59 – Don’s upcoming book: “Building the Strategic Finance Operating Model: The CFO’s Blueprint for Value Creation in the Age of AI” and its practical, conversational style.
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://open.spotify.com/episode/6BAhYyRQAlmf5YteAOrCI0As automation and algorithms take on more financial analysis, the role of the finance leader is under increasing scrutiny. Boards and founders are asking what truly requires human judgment at the top of the finance function, and what can be handed over to machines.
In this episode, Kevin Appleby talks with Rick Sanchez, Managing Principal and CEO of Robyn Consulting Group, about whether AI can replace the CFO. They explore how AI can accelerate decision-making, supercharge FP&A, streamline routine workflows, and deepen insight into unit economics, pricing, and retention, while highlighting why strategy, interpretation, and stakeholder leadership still demand an experienced finance executive.
The discussion turns this vision into practical guidance: building a robust financial operating system, using AI to lower barriers to building and scaling SaaS products, and applying data to pricing and recurring revenue models. Rick also looks ahead to how fractional CFO services will evolve, arguing that those who blend FP&A expertise with AI tools will be best placed to solve complex problems. and that AI is ultimately a force multiplier for CFOs, not a replacement.
Key topics covered:* Rick outlines his transition from corporate revenue management and FP&A into a fractional CFO role, bringing Fortune 500–style tools and frameworks to founder-led and SaaS businesses. * He explains why unit economics (price, quantity, and retention) are central levers for SaaS growth and how exercises like MRR growth ceiling analysis reveal where to focus effort. * The conversation dives into pricing strategy, including starting with lower prices to acquire customers, then using value-based increases and retention to drive long-term profitability. * Rick and Kevin explore how AI will reshape finance, from automating routine tasks to enhancing planning, analytics, and CEO decision-making, while still requiring human oversight and strategic judgment. * They discuss how AI is lowering barriers to entry in SaaS, enabling rapid prototyping and go-to-market, while highlighting that distribution, marketing, and scalable business models still determine success. * Looking ahead, Rick predicts strong growth in fractional CFO services powered by AI and bespoke FP&A tooling, and stresses clear differentiation between bookkeeping, controllership, and high-value CFO advisory work.
Links* Rick Sanchez on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps: * 0:00:01 – Rick’s background and journey from corporate CFO roles to founding his own fractional CFO firm, working with startups and founder-led businesses. * 0:01:39 – Deep dive into his corporate career in technology, revenue management, and FP&A, and how those disciplines shape his current advisory approach. * 0:04:31 – Discussion of specialization in SaaS and tech companies, including unit economics, recurring revenue, and the critical importance of retention. * 0:07:52 – Practical pricing strategies for startups and established firms, covering low-entry pricing, retention dynamics, and managing paid-in-full and deferred revenue. * 0:21:39 – Core segment on AI in finance and fractional CFO work, how AI can automate tasks, elevate decision quality, and fit into a layered financial operating system. * 0:28:17 – How AI reduces product development friction in SaaS, plus the remaining challenges around scaling, marketing, and infrastructure for young tech CEOs. * 0:36:22 – Future trends: growth in fractional CFO demand, the role of creativity plus AI in solving complex problems, and the rise of in-house FP&A tools tailored to niche markets. * 0:39:52 – Closing reflections on AI’s long-term impact on finance, the necessity of clean and accurate data, and the upskilling imperative for finance professionals.
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://open.spotify.com/episode/6Wf1pMCeUmlEym9EYVRF37In the coming years, finance leaders will operate in an environment shaped by rapid technological disruption, new business models, and rising stakeholder expectations, where a role once focused on reporting and cost control now sits at the center of strategy, value creation, and transformation. In this context, traditional accounting and compliance expertise must be complemented by fluency in data, technology, and AI, as well as much stronger leadership, communication, and collaboration skills; capabilities that will define the next generation of high-performing, future-ready finance functions.
In this GrowCFO Show episode, host Kevin Appleby welcomes Myles Corson, EY Global Financial Accounting Advisory Services, Strategy and Markets Leader, to explore what skills will define successful CFOs by 2030. Against a backdrop of rapid technological disruption and shifting business models, the conversation anchors on EY’s long-running “DNA of the CFO” research, based on over 1,500 global CFO and senior finance leader responses. The episode underscores why today’s CFOs must move beyond traditional stewardship and reporting roles to become true enterprise value creators, strategic partners, and transformation leaders.
The discussion examines the widening gap between CFOs’ ambition to lead value creation and the current reality that only about one in four are truly doing so in practice. Corson highlights that by 2030, the most effective CFOs will blend technical excellence, strategic acumen, AI fluency, and human-centered leadership, especially communication, collaboration, and change management. The conversation emphasizes that technology, including AI, is only a catalyst; sustainable success will depend on how CFOs develop their teams, reshape enterprise value metrics, and navigate uncertainty with adaptability and curiosity.
Key topics covered:* EY’s multi‑year “DNA of the CFO” research shows a persistent gap between CFOs’ desire to lead value creation and the small minority actually doing so day-to-day. * Future-ready CFOs will be distinguished less by technical credentials and more by strategic thinking, cross-functional collaboration, and human-centered leadership. * AI adoption in finance remains early: only around 20% of organizations consider themselves advanced, with most struggling on data, culture, skills, and scaling beyond “science experiments.” * Successful finance transformations correlate strongly with team adaptability and clear articulation of the “why” behind change, not just the technology or cost targets. * The most impactful CFOs intentionally build varied career experience (operations, strategy, international roles) and focus on mentoring, networks, and peer benchmarking. * In an AI-driven world, people remain the decisive factor: leadership, communication, and culture ultimately determine whether technology investments deliver value.
Links* Myles Corson on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps: * 0:00:02 – Introduction to Miles Corson, EY Global Leadership Team and framing the reality vs. perception of the CFO role. * 0:02:07 – Miles’ career journey and how diverse roles across geographies, audit, management accounting, government, and advisory shaped his CFO perspective. * 0:08:00 – Discussion on curiosity, varied experience, and mentorship as critical enablers of finance career progression and leadership. * 0:10:52 – Key findings from the DNA of the CFO survey: CFOs’ ambition to lead value creation vs. the reality that only ~25% do so in practice; the need to rethink enterprise value metrics. * 0:21:12 – Deep dive into AI in finance: low maturity of adoption, challenges with data, culture, and skills, and the importance of focusing on business outcomes rather than technology hype. * 0:26:31 – Why most finance transformations underperform; the pivotal role of human factors, communication, and storytelling in driving successful change. * 0:38:31 – Long-term trends in the CFO role: evolution rather than revolution, with enduring importance of strategic vision, collaboration, and the human side of leadership. * 0:43:32 – Conclusion: in a world of AI and advanced technology, people, culture, and talent still determine whether CFOs and finance functions can truly transform and create value.
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://open.spotify.com/episode/1UpfxeVtifPbatGQtj5bFVUnderstanding why some companies run short of the one resource they simply cannot operate without, cash in the bank, even when they are hitting revenue and profit targets has become an essential leadership skill. Cash flow problems rarely appear in the headline numbers, yet they can quietly derail growth plans, strain supplier relationships, and, in the worst cases, threaten the survival of an otherwise profitable business. For founders, CEOs, and finance leaders, success depends on looking beyond the profit and loss statement to understand the timing, predictability, and movement of cash. Organisations that master cash flow are better equipped to scale with confidence, navigate uncertainty, and seize opportunities while competitors struggle to meet their obligations.
In this episode of The GrowCFO Show, host Kevin Appleby is joined by Scotty Palmer, Fractional CFO and Founder of Palmer’s Strategic Advisors, to explore one of the most common challenges facing growing businesses: why profitable companies still run out of cash. Scotty explains how tight margins, hidden costs, and rapid growth without effective cash flow planning can quickly create a liquidity crisis, even when the profit and loss statement looks healthy. Drawing on his experience advising small and mid-sized businesses in the food and beverage sector, he shares practical examples of how cash constraints can emerge despite strong financial performance.
The conversation also explores the tools and disciplines that help businesses strengthen cash flow and improve decision-making. Scotty discusses the role of financial modelling, KPI tracking, and AI-powered forecasting in creating greater visibility over future cash needs. He explains how a better understanding of unit economics, more accurate cost allocation, and challenging assumptions about seemingly profitable product lines can uncover hidden value and improve financial resilience. Throughout the discussion, he demonstrates how a fractional CFO can act as a strategic partner, helping founders balance ambitious growth with the financial discipline needed to build a sustainable business.
Key topics covered:* How a fractional CFO helps profitable businesses avoid cash crunches by improving visibility into true costs and cash conversion * Why food and beverage businesses are especially vulnerable to cash-flow problems due to thin margins and complex cost structures * A client case where disciplined financial modeling and KPI tracking helped increase business performance 10x * Practical strategies to balance passion for product with commercial viability, including pricing, cost allocation, and product mix decisions * How Scotty uses AI tools and spreadsheets to build agile financial models and improve decision-making speed for clients * Scotty’s longer-term vision of building a specialist team of food and beverage advisors to support more founders at scale
Links* Scotty Palmer on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps: * 0:00:01 – Scotty’s background and journey from corporate accounting at Honey Baked Hams to becoming a fractional CFO for food and beverage businesses * 0:02:57 – The personal and financial challenges of leaving a stable corporate role to build a fractional CFO practice, and the central importance of predictable cash flow * 0:07:14 – Why the food and beverage sector is high-risk for cash shortages despite apparent profitability, and how thin margins amplify operational missteps * 0:08:39 – Case study: managing a large retailer opportunity, understanding true costs, and avoiding overextending cash to chase volume * 0:22:37 – Using cost analysis, pricing strategy, and product-level profitability to turn around a struggling taproom restaurant * 0:29:21 – Leveraging AI (Claude, Gemini, Google Sheets) to power financial modeling and scenario analysis without heavy financial systems * 0:40:05 – Advice for corporate finance professionals considering a move into fractional CFO work, including risk, reward, and impact
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://open.spotify.com/episode/38fJP7clsDYlUsNT51JxH5In today’s finance landscape, corporate reporting is undergoing one of the most profound shifts in decades. Boards, investors, regulators, and lenders are no longer satisfied with backward‑looking financial statements alone; they expect CFOs to explain how evolving risks, regulation, and stakeholder expectations will shape business models, capital allocation, and long-term resilience. For finance leaders, this is no longer a peripheral compliance task but a core strategic responsibility that will increasingly determine market credibility and access to capital.
In this GrowCFO Show episode, host Kevin Appleby speaks with returning guest Paula Kensington, GrowCFO Mentor, about what she describes as a “once in 100‑year change” in corporate reporting and why CFOs must act now rather than treat it as a box‑ticking exercise. The conversation explores the new International Sustainability Standards Board (ISSB) climate and sustainability standards (S1 and S2), their adoption in markets such as Australia and across Asia, and the phased implementation by entity size that is rapidly pulling mid‑market businesses into scope.
The episode reframes so‑called “climate reporting” as a strategic exercise in business resilience, not a peripheral ESG disclosure. Paula explains how climate‑related risks and opportunities will increasingly drive strategy, governance, risk management, and metrics—and why these new disclosures may, over time, become more important to investors than traditional backward‑looking financial statements. She highlights the emerging regulatory expectations, the evolving role of assurance and audit, and the personal liability implications for directors and CFOs who underinvest or delay, emphasizing that the apparent savings from aiming for “minimum compliance” today may be dwarfed by future costs once standards, regulator expectations, and market scrutiny have fully matured.
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Key topics covered:* Paula positions the new ISSB climate standards (S1 and S2) as a once-in-a-century shift in corporate reporting that many CFOs are still underestimating. * She explains the phased roll-out by company size, showing how mid‑market organizations (Group 2 and Group 3) are quickly becoming subject to these requirements and cannot rely on being “too small” to be affected. * The discussion reframes climate reporting as forward‑looking resilience analysis, where climate scenarios and risks inform strategy and may ultimately become more critical to stakeholders than traditional P&L and balance sheet statements. * Paula distinguishes between physical risks (e.g., assets and warehouses threatened by climate events) and transition risks (e.g., changing policies, markets, and customer expectations making existing products or models obsolete). * She outlines how governance, risk registers, and board oversight must evolve so climate risks and opportunities actively drive decision‑making rather than sit as a static compliance document. * The episode stresses that aiming for minimum viable compliance is a high‑risk strategy in light of director liability, potential fines, and increasing regulator and investor focus on the quality and consistency of climate disclosures.
Links* Paula Kensington on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps: * 00:00–02:30 – Introduction to Paula and framing of the topic as a major, under-appreciated change in corporate reporting. * 02:30–04:30 – Explanation of Group 1, Group 2, and Group 3 entities and why mid‑market CFOs are now “on the hook.” * 04:30–07:30 – Reframing climate reporting as business resilience rather than ESG box‑ticking; climate disclosures as potential primary statements. * 09:17–11:19 – Deep dive into physical vs transition risks with practical examples (warehouses, energy, low‑cost apparel). * 15:19–18:38 – How assurance and audit standards are evolving, and why investors will focus on climate‑driven risks and opportunities more than last year’s earnings. * 19:47–21:25 – The four pillars of ISSB (governance, risks and opportunities, metrics and targets, strategy) and their implications for how strategy is set. * 22:11–23:33 – Discussion on the risk register as a living, strategic tool rather than a periodic governance formality. * 28:22–31:40 – Why only ~20% of CFOs are taking this seriously; dangers of focusing solely on AI and cyber while underplaying climate risk. * 33:28–34:51 – Regulator expectations, linkage between prior risk disclosures and current climate scenarios, and potential fines and director liability. * 35:09–36:54 – Global implications, including differences in US regulation and why international supply chains will still force adoption.
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://open.spotify.com/episode/6raW3lf3gJuwTrYNbdkf0FToo many organisations are pouring time and money into AI only to find that the promised efficiency gains and cost savings never materialise, leaving CFOs struggling to justify the investment. Understanding why most AI projects fail to deliver ROI, and what finance leaders can do differently, is now a critical skill for anyone responsible for steering strategy, systems, and spend.
In this GrowCFO Show episode, host Kevin Appleby sits down with Sinohe Terrero, CFO and COO of Envoy, to explore why so many AI initiatives fall short and how finance leaders can change the outcome. Drawing on his experience as a serial startup CFO and operator in high-growth tech companies, Sinohe reframes AI as a practical toolkit for augmentation, task automation, and application development, and explains how confusion between these use cases leads to poor deployment and weak returns.
Throughout the conversation, Sinohe shares real examples from Envoy’s finance function, from AI-powered reconciliations and automated interview workflows to custom dashboards that bring data together in one place. He also dives into AI governance, describing the AI council he leads and the data policies that allow innovation while protecting sensitive information, ultimately positioning the CFO as a hands-on AI leader focused on both value creation and risk management.
Key topics covered:* Companies misunderstand what AI can do, deploy it inappropriately (e.g., trying to “fully automate everything”), and often lack in-house application developers who can tailor solutions to their actual workflows. * Sinohe breaks AI use into augmentation, task automation, and application development, arguing that most ROI today comes from targeted task automation and small, purpose-built tools, not sweeping end-to-end automation projects. * Envoy’s finance team used AI to automate health insurance and other reconciliations, identifying about $40,000 in recoveries and turning tedious, quarterly work into a largely automated process. * Sinohe personally builds AI-powered applications to reconcile accounts, summarize emails and Slack, prep and debrief interviews, and create a “morning coffee” dashboard that consolidates operational and financial insights into a single pane of glass. * As head of Envoy’s AI council, Sinohe has helped design a data governance matrix that clarifies what data can be used in which tools, allowing experimentation and creativity while strictly protecting company and customer data. * Sinohe is bullish on increased data accessibility (e.g., via banks and platforms like Salesforce) and predicts a shift toward custom, CFO‑designed dashboards and tools, with legacy point solutions being displaced by in‑house applications that do exactly what the business needs.
Links* Sinohe Terrero on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps: * 0:01:36 – Sinohe explains Envoy as a workplace technology platform focused on managing physical spaces (visitor check-in, security, emergency notifications, desk allocation) with 6,000+ global customers and around 250 employees. * 0:03:35 – He shares how timing, a tight investor story, and demonstrating strong cash flow and operational discipline were critical to a successful Series C raise during a turbulent market. * 0:04:47 – Sinohe lays out the core reasons AI fails in many organizations and introduces his three-part framework: augmentation, task automation, and application development. * 0:07:11 – He describes teaching himself to build AI-powered applications, including an asset-account reconciliation tool that cut a two-hour monthly process down to about two minutes. * 0:12:21 – Using tools like Scribe to document workflows, Envoy’s finance team identifies automation candidates; a payroll-led AI skill for health insurance reconciliations surfaced roughly $40,000 owed to the company. * 0:17:53 – Sinohe explains Envoy’s AI council, clear AI policies, and a data governance matrix that defines what data can be used where, enabling safe experimentation at scale. * 0:21:17 – He details his personal AI setup: automated interview briefing/debriefing via Granola + Claude, daily digests of emails/Slack/meetings, and automated summaries of operational metrics and customer activity. * 0:24:58 – Sinohe predicts job disruption in large teams (e.g., 100 accountants potentially shrinking to 60) but sees smaller teams using AI to focus on higher-value, advisory work rather than basic reconciliations. * 0:26:30 – He describes replacing tools like Flowcast, Asana/Monday, and other SaaS products with custom AI-enabled applications that do 75% of what generic tools do—but 100% of what Envoy actually needs. * 0:33:36 – Sinohe forecasts greater bank and platform data accessibility, more automated reconciliations, and a shift that frees CFOs from operational drudgery so they can focus on higher‑value strategic work.
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://open.spotify.com/episode/5rFlxuL66fW6AAkx6MShdMFor first-time CFOs, board leadership is not merely a governance checkpoint; it is the arena where strategy, risk, and capital allocation converge. The board is the highest‑stakes audience, setting direction, probing assumptions, and expecting crisp narratives grounded in data and judgment. Mastering board dynamics early enables a new CFO to accelerate trust, shape decisions before they harden, and navigate uncertainty with confidence. From scenario planning and accountability to stakeholder alignment and strategic storytelling, board fluency becomes the multiplier that elevates a CFO from competent operator to indispensable strategic partner.
In this episode, Michael Anderson, a GrowCFO Mentor, traces a varied finance leadership journey that began at KPMG in Silicon Valley and evolved through operating roles in tech, biotech, media, and international logistics. He reflects on the pivotal shift from compliance to value creation, sharing how exposure to IPOs, M&A, and complex post-acquisition integrations at Getty Images sharpened his instincts around urgency, risk, and decision-making with imperfect information. Anderson underscores that the best finance leaders pair technical acumen with character, curiosity, and the courage to have difficult conversations early.
Anderson emphasizes understanding business processes before technology decisions, scenario planning to navigate uncertainty, and the importance of mentorship to build clarity, confidence, and conviction. He illustrates how board effectiveness grows when CFOs bring structured thinking, stakeholder empathy, and strategic storytelling, and he connects leadership depth to personal experiences, including lessons learned as a parent, that inform how he supports CEOs and boards in high-stakes contexts.
Key topics covered:* Why the AI skills gap is now a core strategic issue for finance leaders. * Guy’s journey from chartered accountant and VC to AI trainer for finance teams. * The essential foundational skills: prompting, architecture, and context management. * How AI is creating new roles and responsibilities instead of simply removing jobs. * Managing AI cost, tokens, and model choice like any other major operating expense. * The danger of AI-built financial models without proper financial modeling discipline.
Links* Michael Anderson on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps: * 00:03 — Transition from KPMG to tech; push beyond compliance into value creation * 00:07 — Getty Images lessons: urgency, risk, and integrating acquisitions effectively * 00:15 — Cross-industry perspective: biotech and logistics shaping CFO judgment * 00:21 — Mentorship frameworks for leadership clarity and confidence * 00:24 — Financing story: aligning with lender strategy to expand credit * 00:39 — Supporting CEOs in board contexts; priorities for first-time CFOs
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://open.spotify.com/episode/3kw8uHSos6XKFrZncc2CEaArtificial intelligence is transforming the finance function, but most finance teams are still missing the skills to use it confidently, safely, and at scale. The real competitive advantage now lies in how quickly finance leaders can close this AI capability gap across their teams.
In this episode, GrowCFO host Kevin Appleby is joined by GrowCFO Facilitator and AI training specialist Guy Weaver to unpack the AI skills gap that is rapidly emerging across finance teams. As AI tools move from experiment to everyday infrastructure, finance leaders face a stark choice: either build the skills to harness these tools strategically or risk falling behind competitors who do. AI is presented not as a “nice to have” experiment, but as a core capability that will shape productivity, decision quality, and the operating model of modern finance functions.
Guy shares his journey from chartered accountant and venture capital portfolio director to AI practitioner and trainer, showing how a period on gardening leave became a deep dive into tools, agents, automations, and real-world business use cases. He explains that the real differentiator is no longer access to platforms like Copilot, Claude, or ChatGPT, but the human skills to design prompts, architect workflows, manage context files, and control costs at scale. Rather than eliminating finance jobs, AI is creating new responsibilities around context management, token and cost optimization, and continuous model evaluation—and finance leaders who invest early in mindset shifts, foundational skills, and disciplined experimentation will unlock both efficiency gains and new strategic opportunities that slower adopters will miss.
Key topics covered:* Why the AI skills gap is now a core strategic issue for finance leaders. * Guy’s journey from chartered accountant and VC to AI trainer for finance teams. * The essential foundational skills: prompting, architecture, and context management. * How AI is creating new roles and responsibilities instead of simply removing jobs. * Managing AI cost, tokens, and model choice like any other major operating expense. * The danger of AI-built financial models without proper financial modeling discipline.
Links* Guy Weaver on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps: * 00:00–05:00 – Why AI skills matter for finance leaders and how Guy’s career led him into AI training. * 05:00–12:00 – From “AI will take our jobs” to new responsibilities around AI, context, and automation. * 12:00–18:00 – Prompting, architecture, treating AI like an employee, and managing context files. * 18:00–24:00 – Who owns context files, how they’re maintained, and the implications for CFOs and COOs. * 24:00–29:00 – Rising AI costs, token limits, and the need to optimize AI usage across the finance function. * 29:00–34:00 – What Guy sees in finance training sessions and how teams can keep up as tools evolve.
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://open.spotify.com/episode/3cW4LImOlr2eDc6opOmyPpGoing public is often seen as the ultimate milestone for a successful business, yet for many great companies it marks the beginning of decline rather than a new chapter of sustainable growth. In this episode of The Grow CFO Show, host Kevin Appleby sits down with Eric Ries, author of The Lean Startup, to explore why so many mission-driven, high-performing companies lose their way after an IPO – and what CFOs and boards can do differently to prevent this fate. The conversation frames governance not as a legal box-ticking exercise, but as a strategic discipline that protects long‑term value, mission, and trust.
Through vivid case studies – from Saul Price and the origins of Costco, to Novo Nordisk and its foundation structure, to Johnson & Johnson’s Credo – Eric shows how governance choices can either entrench short‑term shareholder primacy or build what he calls a “governance fortress” that shields companies from destructive external pressures. He argues that CFOs are uniquely placed to champion this new governance, redefine profit around human flourishing, and ensure the organization can’t make money except by achieving its mission. The result is a powerful toolkit for finance leaders who want to keep their companies “incorruptible” long after they hit the public markets.
About Eric RiesOver the last two decades, Eric Ries’s ideas about continuous innovation, long-term thinking, governance, and market reform have reshaped company building and management practices. He is the creator of the Lean Startup method, and the author of the New York Times bestseller The Lean Startup; The Leader’s Guide; and The Startup Way.
As a founder, he has put his own ideas into practice with The Long-Term Stock Exchange (LTSE); Answer.AI, an AI R&D lab; Virgil, a legal services startup; and IMVU. On The Eric Ries Show, he talks with world-class technologists, thought leaders, and executives building for the long-term. He lives in the San Francisco Bay Area with his wife and three children.
Key topics covered:* Why good companies lose control and drift after going public. * FedMart and Costco: how governance protects long‑term value. * “Governance fortress” structures that resist short‑term investor pressure. * Novo Nordisk: mission‑driven governance leading to massive value creation. * Why most M&A destroys value and how CFOs should filter deals. * Redefining profit around human flourishing and the CFO’s new role.
Links* Eric Ries on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps: * 0:00 – 1:42 — Why great companies lose their way post‑IPO. * 1:42 – 4:27 — FedMart: investor pressure kills a great business. * 4:27 – 7:30 — Costco and the “governance fortress” idea. * 10:39 – 14:39 — The CFO as guardian of mission and structure. * 15:21 – 20:19 — Novo Nordisk: foundation ownership and GLP‑1 success. * 21:35 – 22:27 — Why many acquisitions are value‑destroying. * 22:59 – 27:53 — J&J’s Credo vs reality: mission statements aren’t enough. * 28:08 – 32:06 — Rethinking profit as human flourishing. * 33:47 – 34:48 — Incorruptible as the essential book for CFOs.
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://open.spotify.com/episode/47RAQ1TXbfnlvIjsxzCHwHDelaying action on emerging technologies is often seen as the safest path for finance leaders. But in today’s environment, standing still can quietly erode competitiveness faster than visible missteps. For CFOs, the choice is no longer between perfection and experimentation; it is between shaping how intelligent tools transform their business model, or inheriting a cost base, tech stack, and operating rhythm that were designed for a world that no longer exists. The real risk now lies in missed efficiencies, slower decision cycles, and constrained strategic options when rivals are already compounding the benefits of data- and AI-enabled finance.
In this GrowCFO Show episode, host Kevin Appleby speaks with Todd McElhatton, CFO of Zuora, about why hesitating on AI adoption could be more damaging for CFOs than making imperfect early decisions. They frame AI not as a distant future technology, but as an immediate strategic lever that will separate adaptive finance leaders from those who are left managing obsolete operating models. The conversation stresses that waiting on AI often compounds operational risk, opportunity cost, and competitive disadvantage, especially for CFOs accountable for both efficiency and growth.
Todd outlines how AI is reshaping finance, from quote-to-cash and system implementation to workforce design and governance. Drawing on his experience at HP, WebMD, Oracle, VMware, SAP, and now Zuora, he explains why CFOs must actively lead AI strategy, re-architect their tech stacks, and develop robust oversight rather than defaulting to conservative inaction. By the end of the episode, listeners gain a pragmatic view of where AI can deliver tangible value today, and why inaction may be the riskiest choice of all.
Key topics covered:* Todd charts his career journey across major tech companies and explains how it shaped his view of the CFO as both financial steward and operational leader. * He details Zuora’s evolution into an AI-enabled quote-to-cash platform and how AI is accelerating shifts to new, outcome-based business models. * Todd and Kevin unpack the build vs. buy decision around AI, highlighting integration, domain expertise, compliance, and governance as critical factors for CFOs. * The discussion explores how AI can reduce rework, speed implementations, and reallocate finance capacity from manual tasks to higher-value analysis and decision-making. * Todd argues that CFOs who hesitate on AI risk constraining strategy, delaying business model transformation, and missing efficiency and innovation gains competitors are already capturing. * He shares his personal AI use cases: research, scenario analysis, and board preparation, while emphasizing human oversight, skepticism, and multi-model validation.
Links* Todd McElhatton on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps: * 0:00:00 – How roles at HP, WebMD, Oracle, VMware, and SAP shaped his perspective on the modern CFO and why understanding operations is now non‑negotiable. * 0:02:53 – How AI is impacting subscription and outcome-based business models, and why this forces companies to reassess their tech stacks. * 0:06:27 – ZUORA’s internal journey: moving beyond pilots to AI projects that materially affect performance while maintaining human oversigh. * 0:11:37 – The trade-offs between building AI in-house and buying AI-native systems of record, with a focus on integration, compliance, and risk. * 0:19:04 – How AI will reshape implementation timelines, roles, and the skills finance teams need, plus the efficiency and innovation upside. * 0:19:19 – Todd’s guidance on aligning AI and tech stack decisions with business strategy, and a cautionary example where system limitations stalled an acquisition. * 0:32:00 – How Todd uses AI for research, analysis, and board materials while maintaining critical thinking and cross-checking outputs across models. * 0:36:21 – A closing argument for CFOs to lead AI adoption, embrace calculated risk, and redeploy teams from repetitive work to higher-value contributions.
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://open.spotify.com/episode/1O3AJJ7rl6xqzgLnf82KP8In today’s finance function, relying solely on monolithic systems and periodic reporting is no longer enough, as rapid advances in AI transform how data is collected, processed, and turned into insight. Finance leaders are now expected to orchestrate an ecosystem of intelligent tools that automate routine work, enable continuous forecasting, and surface risks and opportunities in real time. Those who continue to treat technology as a back-office utility will quickly fall behind leaders who use it as a strategic lever for competitiveness and resilience.
In this GrowCFO Show episode, Kevin Appleby is joined by Darren Cran, CEO of AccountsIQ, to explore how AI is reshaping the finance function and what a “CFO Mindset 2.0” really looks like in practice. The conversation underscores why this shift is not just a technology upgrade but a fundamental change in how CFOs think about systems, teams, and decision-making. As AI tools, such as Anthropic’s Opus 4.6, rapidly increase their capabilities, Darren explains why finance leaders must move beyond simply running ERP systems and start orchestrating a broader ecosystem of AI-enabled tools that enhance forecasting, productivity, and strategic insight
The episode examines the practical realities behind this transition: the readiness of organizations to adopt AI, the risks and opportunities around system change, and the human impact in terms of workload, overtime, and work–life balance. Darren contrasts AI-native companies with established platforms like AccountsIQ and shows how AI can be layered onto existing systems of record to automate routine tasks, strengthen continuous forecasting, and free finance professionals to do more relational, higher-value work. For CFOs wondering what to do next, this discussion offers a clear roadmap: maintain robust core systems, embrace AI as an orchestration layer on top, and cultivate a mindset that looks for opportunity in uncertainty rather than reacting to it.
Key topics covered:* The episode positions “CFO Mindset 2.0” as a response to AI’s rapid impact on finance software, using Anthropic’s Opus 4.6 as a signal that traditional software models are being disrupted and augmented by AI-first approaches. * Darren explains how AccountsIQ is investing in AI orchestration, automating repetitive tasks for finance teams while preserving the ERP or core system of record as the backbone of financial data. * The discussion compares AI-native companies versus established platforms, arguing that incumbents with deep domain knowledge and existing customers can unlock major value by embedding AI into real workflows rather than chasing hype. * Kevin and Darren explore the evolving role of ERP systems, concluding that while ERPs remain essential for core functions, AI-powered financial operating platforms and integrations will increasingly handle flexibility, user experience, and advanced analytics. * The conversation highlights the human and cultural side of AI, showing how automation can reduce overtime, improve work–life balance, and shift finance professionals toward more strategic and relational work if leadership sets the right expectations. * Darren outlines how AI can transform forecasting, from periodic budgeting to more continuous, scenario-based modeling, while stressing that CFOs must still validate models and use judgment rather than blindly trusting outputs.
Links* Darren Cran on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps: * 0:00:02 – Kevin introduces Darren and frames the episode around CFO Mindset 2.0, AI’s impact on finance software, and the significance of Anthropic’s Opus 4.6 as a turning point. * 0:07:18 – Discussion on the pain of system changes, how older systems will coexist with new AI capabilities, and how AccountsIQ is investing in AI orchestration to automate routine finance tasks. * 0:14:12 – Deep dive into the limitations of traditional ERP systems and the rise of financial operating platforms that rely on integrations and AI to deliver more flexible, user-friendly finance environments. * 0:17:45 – Darren explains why ERP systems will remain core systems of record, while AI will build rich ecosystems around them rather than fully replacing them. * 0:21:06 – Exploration of how AI can reduce overtime, change the shape of finance roles, and the importance of company culture in ensuring that productivity gains translate into better working lives. * 0:28:27 – Darren and Kevin discuss how AI can dramatically speed up financial modeling and scenario analysis, enabling continuous forecasting as long as CFOs apply proper checks and validations. * 0:31:49 – Darren shares AccountsIQ’s roadmap for AI agents and products designed to improve the day-to-day experience of finance professionals and keep pace with frontier technology.
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://open.spotify.com/episode/35qKYO14JG1pUeM5uoCQPgIn a world of rapid disruption and volatility, finance teams can no longer rely on single‑point forecasts and rigid spreadsheets. They must understand ranges of possible outcomes, quantify risk, and communicate uncertainty in ways that enable better, faster strategic decisions, turning uncertainty from a threat into a competitive advantage.
In this episode of The GrowCFO Show, host Kevin Appleby speaks with Jason Brisbane, Founder of Finhelm, about how AI and Monte Carlo simulation are reshaping finance by replacing deterministic forecasts with probability‑driven models. Brisbane shares his journey from FP&A and treasury at Adobe to founding Finhelm, a platform that brings “computational finance” into the CFO organization and assigns an “uncertainty exposure score” to models, essentially a credit score for forecast risk.
This approach helps FP&A teams treat variances as learning signals rather than failures and move from static scenario planning to continuous simulation at scale. The discussion also explores how probabilistic modeling supports risk management and AI governance, including “nutrition labels” for AI‑enabled processes so domain experts can understand volatility, detect drift, and know when human intervention is required.
Key topics covered:* Shift from deterministic to probabilistic finance: Brisbane explains how most organizations still rely on single‑point, deterministic forecasts, and how Monte Carlo simulation combined with AI introduces probability distributions, helping teams understand the likelihood of outcomes rather than relying on one number. * Uncertainty Exposure Score as a “credit score” for forecasts: Finhelm applies Monte Carlo simulation to generate an “uncertainty exposure score,” giving finance leaders a clear measure of volatility and risk embedded in their models over time. * Variances as learning, not failure: Brisbane argues that probabilistic finance allows FP&A teams to reframe forecast variances as opportunities for learning and calibration, rather than signs of failure, driving a more mature approach to performance management. * From scenario to simulation in risk management: The discussion extends Monte Carlo beyond financial forecasting into risk, highlighting how organizations can move from simplistic low/medium/high risk grids to simulated, monetized risk impacts across portfolios and risk registers. * AI “nutrition labels” and governance: Brisbane introduces the idea of a “nutrition label” for AI‑enabled processes, where risk scores and volatility bands help domain experts decide when it is safe for autonomous agents to operate and when human intervention is required. * AI‑native build by a finance domain expert: As a finance professional rather than a traditional technologist, Brisbane describes how he is using AI‑native development tools to build Finhelm, demonstrating how domain experts can now create sophisticated, AI‑driven solutions without large in‑house engineering teams.
Links* Jason Brisbane on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps: * 00:00 – 04:30 – Jason shares his background from Adobe’s rotation program through FP&A and product roles, and explains Finhelm’s mission: bringing computational finance and Monte Carlo simulation into the CFO organization to add probability and distribution to traditional forecasts. * 04:30 – 08:30 – Appleby and Brisbane break down Monte Carlo as running hundreds or thousands of simulations across best/likely/worst‑case assumptions to produce a forecast with confidence bands instead of a single number, reframing how finance understands uncertainty. * 08:30 – 13:45 – Appleby recounts a defense procurement project where Monte Carlo was used to estimate 25‑year life‑cycle costs and readiness, illustrating why probabilistic modeling is essential when multiple uncertain drivers interact over long horizons. * 14:00 – 18:30 – Brisbane contrasts the classic “three‑tab spreadsheet” (worst/base/best) with probabilistic finance, arguing that Monte Carlo and uncertainty exposure scores allow FP&A teams to treat variance as learning data and continually recalibrate models. * 18:30 – 22:30 – The conversation turns to risk registers and enterprise risk, discussing how organizations can move beyond low/medium/high matrices to simulated, monetary impact of risks, and how this supports more informed resource allocation and strategic decisions. * 21:30 – 26:00 – Brisbane introduces the concept of scoring volatility to determine when AI agents can operate autonomously within “safe bands” and when domain experts must intervene, aligning probabilistic finance with AI governance and auditability requirements. * 25:20 – 32:00 – Brisbane outlines Finhelm’s early traction in law, professional services, and healthcare, and shares his vision that within 12–18 months, FP&A teams will routinely use Monte Carlo and uncertainty scoring to answer deeper questions about risk and performance.
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://open.spotify.com/episode/0zRJsjw9He6j7fvBc1VzkpStepping into senior finance leadership is rarely neat or linear. The move from technical expert to strategic leader often happens sooner than expected, with higher stakes, tougher decisions, and sharper scrutiny. Yet these stretching moments are where the next generation of CFOs is really formed.
In this episode of the GrowCFO Show, Kevin Appleby speaks with David Hudson, Group Financial Controller at Empiric Student Property PLC. David shares how he found himself effectively operating as CFO during Empiric’s takeover by Unite Group plc; leading a difficult audit, resolving a major misstatement, handling confidential deal work, and guiding his team through intense change.
He explains how combining these real-world challenges with the GrowCFO program, especially the virtual boardroom, peer learning, and focus on personal branding, helped him accelerate his readiness for the top job. The conversation offers a practical blueprint for senior finance leaders who are being asked to step up before they feel fully prepared, showing how confidence, mentoring, and smart use of technology can enable them to perform credibly at CFO level.
Key topics covered:* David Hudson outlines his journey from audit into senior finance roles and ultimately into a position where he was effectively acting as CFO during a major corporate transaction. * He explains how stepping into the CFO role created a step‑change in responsibility—owning cash, leading the team, and steering auditors through a challenging year-end with a significant misstatement. * Hudson shares how the GrowCFO program, especially the virtual boardroom, stress‑tested his skills, built confidence, and helped him prepare for real board‑level scrutiny. * He highlights the importance of personal branding, networking, and maintaining a strong LinkedIn presence and CV as critical enablers for aspiring CFOs. * The discussion covers the realities of acquisition and integration—confidentiality, staff retention, fair reward, and managing external stakeholders such as brokers and investment banks. * Hudson describes how leveraging AI and OCR in the finance function, combined with mentoring and team development, positions him for his longer‑term ambition to become a CFO in a FTSE 250 business.
Links* David Hudson on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps: * 0:00:01 – David Hudson’s background and progression to Group Financial Controller at Empiric Student Property, and how he found himself stepping into a de facto CFO role during a takeover. * 0:03:00 – Discussion of fear versus imposter syndrome, and what changes when the responsibility and accountability of a CFO role land on your desk. * 0:04:52 – How the GrowCFO virtual boardroom and peer group challenged Hudson, built confidence, and simulated real board pressure ahead of stepping up. * 0:10:35 – The importance of personal branding, LinkedIn presence, and professional networking for finance leaders aiming at CFO roles. * 0:18:10 – Lessons from leading through an acquisition: confidentiality, employee retention, fair recognition, and learning from brokers and investment banks. * 0:21:25 – The role of mentoring, team strength, and calm leadership in successfully handling CFO‑level challenges. * 0:29:37 – Practical use of AI and OCR in the finance function and how technology supports a more strategic, commercially focused CFO. * 0:35:22 – The link between physical well‑being (e.g., marathon training) and better problem‑solving and resilience in high‑pressure finance roles.
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://open.spotify.com/episode/5YwnZv8yNCPYP1osEaVFY6In a world where business models, technology, and regulation can all shift in a single planning cycle, building a finance team and infrastructure that still works five years from now is a strategic necessity. Short‑term fixes and ad hoc processes quickly turn into bottlenecks as organizations grow and face deeper scrutiny from investors and regulators.
In this episode, Kevin Appleby speaks with Rishi Oberoi, Deputy CFO and CAO at Varo Bank, about designing a finance function that scales for the long term. Rishi frames finance as a leadership system that enables organizations to move fast without breaking trust, drawing on two decades in global banking, fintech, audit, and capital markets.
Together, they explore why scalable finance is as much about people and principles as it is about processes and platforms. Rishi highlights empathy, humility, and storytelling as core leadership traits, and explains how AI can act as a control sentinel and efficiency driver while preserving customer trust and regulatory rigor in a mission‑driven bank.
Key topics covered:* Finance should be designed and run as a leadership system, where everyone in the function leads in some way, not just the CFO. * Scalable finance functions are built on empathy, humility, and values-based hiring, not only on technical skill sets. * AI’s most powerful role in finance may be as a real-time control sentinel, enhancing compliance, monitoring controls, and supporting faster, safer decision-making. * Systems should be architected to be modular, vendor-agnostic, and future-ready, designed around what the organization will need in 4–5 years rather than just today’s constraints. * Finance can and should be a force for good, especially in mission-driven organizations, by balancing profitability with equitable access to financial products for underserved communities. * Modern CFOs must spend more time looking forward than backward, closing the books quickly so they can focus on strategy, relevance, and long-term value creation.
Links* Rishi Oberoi on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps: * 0:00:00 – Kevin introduces Rishi and his global finance career; Rishi outlines his experience building fast-moving, trust-centric finance teams. * 0:02:21 – Rishi explains why he views finance as one of the world’s foundational leadership systems, shaping economies, companies, and households. * 0:05:27 – Discussion on leading finance teams with empathy, recognizing life outside work, and hiring for values and learning ability. * 0:09:46 – Rishi describes how finance must provide a forward-looking view and use storytelling to make numbers meaningful and actionable. * 0:13:06 – Exploration of AI in finance, including using AI to monitor controls and compliance in real time within regulated environments. * 0:18:12 – How to design finance systems that are modular, vendor-agnostic, and aligned to where the organization will be in 4–5 years. * 0:24:26 – Rishi discusses using finance to benefit customers, employees, investors, and regulators, especially in a mission-led bank like Varo. * 0:26:15 – The tension and balance between serving underserved communities and maintaining regulatory- and investor-grade profitability. * 0:32:53 – Advice for CFOs to close faster, look further ahead, and focus on keeping their organizations relevant in a fast-changing world.
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://open.spotify.com/episode/5z9zV5mya9rDz6O8glCfy1A high-income fractional CFO career is becoming one of the most attractive paths for senior finance leaders who want more control, variety, and upside than a traditional corporate role can offer. As businesses increasingly look for flexible, part-time strategic finance support, the opportunity for experienced CFOs and finance professionals to build profitable portfolio careers has never been greater.
In this episode, Kevin Appleby interviews Rob Nicholls, a fractional CFO, board adviser, and GrowCFO mentor, on how finance leaders can build a high-income, portfolio-style career. Rob draws on his commercially driven background and international experience to explain what a modern fractional CFO really does and how the role can deliver both financial and lifestyle benefits.
He shares practical guidance on constructing a high-income fractional CFO portfolio – balancing a mix of clients, leveraging LinkedIn, and using non‑executive roles and mentoring to generate both impact and deal flow. The discussion highlights how deep experience, strategic advisory skills, and deliberate business development combine into a sustainable, long-term fractional CFO career.
Key topics covered:* How Rob built a high-value fractional CFO and board advisory portfolio across multiple SMEs, drawing on a career that spans finance, operations, sales, and supply chain. * Why LinkedIn is central to his business development, including disciplined daily activity that generates around 30 conversations a day and compounds into long-term opportunity. * The role of mentoring and advisory work (Innovate UK, university engagements, startup ecosystems) in building reputation, leverage, and future client pipelines. * How being industry-agnostic yet commercially focused allows Rob to mentor founders, senior finance executives, and career-changers while remaining anchored in value creation. * The impact of technology and AI on CFO work, including tools to streamline board reporting while reinforcing the need for real-world experience and judgment. * Why non-executive roles and multiple income streams are powerful components of a resilient, high-income fractional CFO career.
Links* Rob Nicholls on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps: * 00:00 – Intro to Rob and fractional CFO background * 02:10 – From traditional finance to value creation focus * 03:33 – Portfolio lifestyle and managing multiple clients * 04:25 – LinkedIn strategy and pipeline building * 09:37 – Mentoring, startups, and ecosystem leverage * 12:15 – Who Rob mentors and career transitions * 15:19 – Technology, AI, and modern CFO work * 18:59 – Non-exec roles and board careers for CFOs * 23:40 – Future plans and fractional startup in biz dev
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://open.spotify.com/episode/55cBmmBgaKb7MGUsUgPtNTIn this GrowCFO Show episode, Kevin Appleby sits down with Jeremy Earnshaw, GrowCFO Mentor, to unpack one of the most painful but instructive topics in corporate life. Rather than celebrating a headline-grabbing success, Jeremy walks through a deal that went badly wrong—financially, culturally, and strategically. The episode emphasizes why leaders often learn far more from failures than from smooth, textbook transactions, and why understanding what not to do in M&A can be a powerful competitive advantage.
Drawing on more than 20 M&A deals across his career, Jeremy dissects an acquisition from 30 years ago where he joined mid-transaction, found due diligence to be dangerously superficial, and discovered too late that the target’s core direct-to-consumer channel was fundamentally unprofitable. He and Kevin explore how poor diligence, misaligned incentives, cultural blind spots, and weak integration planning combined to destroy value. The conversation offers CFOs, founders, and boards a candid look at the real costs of a bad acquisition and practical lessons on how to structure deals, probe assumptions, and retain the courage to walk away.
Key topics covered:* Jeremy explains how he joined an acquisition mid-stream and immediately saw that the “due diligence” was little more than an updated audit pack. * Kevin and Jeremy break down why buying “a balance sheet” instead of a future business led to a badly structured deal, with 90% of the consideration paid in cash at completion. * They expose how cultural issues, aggressive lawyers, and late negative disclosures undermined trust and should have been clear red flags to pause or walk away. * Jeremy reveals that the acquisition’s main focus—the direct-to-consumer channel—was actually loss-making, while an overlooked export dealer channel was where the real profitability lay. * The episode highlights how weak integration planning compounded the initial mistakes, turning a flawed deal into a value-destroying one. * Jeremy distills the lessons learned: insist on thorough due diligence, structure earn-outs intelligently, interrogate culture and people risk, and always be prepared to walk away.
Links* Jeremy Earnshaw on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps: * 0:00:00 – Kevin frames the episode around learning from “the worst acquisition” and introduces Jeremy Earnshaw and his M&A background. * 0:02:00 – Jeremy describes joining halfway through the deal and discovering that due diligence was basically a thin audit update. * 0:06:23 – Deep dive into due diligence and valuation: why paying 90% cash up front and underweighting earn-out was a structural mistake. * 0:19:35 – Cultural and legal challenges emerge: aggressive lawyers, late disclosures, and a finance controller’s resignation revealed just before completion. * 0:24:35 – Post-acquisition reality check: the direct-to-consumer channel is loss-making while the neglected export dealer business is the only profitable part. * 0:36:56 – Jeremy and Kevin synthesize the core lessons around diligence discipline, deal parameters, and the importance of being ready to walk away.
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://open.spotify.com/episode/29EE2Ec32RWQKNVvVj2U8dIn this episode of The GrowCFO Show, host Kevin Appleby, together with Michael Pytel, Technology Leader & Director at VASS, underscores why AI is now a board-level issue for finance leaders: decisions made today about platforms, data, and governance will shape an organization’s risk profile and competitive position for years to come. They frame AI not as a shiny add‑on but as an infrastructure-and-controls question that sits squarely in the CFO’s remit: data sovereignty, privacy, security, and ROI.
Michael draws on his deep background in ERP and large‑enterprise technology to give CFOs a practical roadmap for implementing AI safely and effectively. He explains how vendors such as SAP are approaching “sovereign AI” to keep sensitive financial data within the organization, why mid‑market businesses should consider anchoring around the Microsoft ecosystem, and how to structure permissions so AI behaves like a fully controlled team member rather than a black box. The discussion closes with forward‑looking guidance on avoiding vendor lock‑in, upgrading ERP for an API‑ready, AI‑enabled future, and identifying quick wins that prove value without compromising security.
Key topics covered:* Why AI implementation is now a core responsibility of the CFO, not just IT, with direct implications for risk, compliance, and competitive advantage. * How data sovereignty, privacy, and “sovereign AI” approaches (as seen in SAP) allow organizations to choose where AI runs and how data is protected. * Practical options for smaller and mid‑market companies without large IT teams, including leveraging the Microsoft ecosystem for secure and scalable AI. * The importance of treating AI like a human team member with defined permissions, segregation of duties, and strong policy‑driven prompt design. * Why CFOs must ensure ERP and core finance systems are API‑ready and AI‑enabled to remain competitive over the next planning cycles. * Strategies to avoid platform lock‑in while still moving quickly, focusing on quick wins and flexible commercial contracts with AI vendors.
Links* Michael Pytel on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps: * 0:00:01 – Kevin introduces episode 280 and guest Michael Pytel, outlining his enterprise technology and ERP background and why his perspective matters for CFOs considering AI. * 0:02:27 – Discussion of SAP’s cautious, data‑sovereign approach to AI, allowing customers to control where AI runs and how sensitive financial data is protected. * 0:08:27 – Exploration of AI options for smaller organizations without full IT departments, including aligning with Microsoft to obtain secure, affordable AI capabilities. * 0:12:05 – Deep dive into data security, permissions, and prompt engineering, positioning AI as a controlled “team member” governed by policies and segregation of duties. * 0:26:25 – Analysis of how AI will reshape finance roles, the need to modernize ERP for AI integration, and what to look for in vendor roadmaps. * 0:33:06 – Michael’s closing advice for CFOs in 2026: prioritize secure, in‑house AI platforms, avoid lock‑in with flexible contracts, and focus on quick, demonstrable wins.
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://open.spotify.com/episode/0tIFk3EkP63wzKxWBPJUeDIn episode 279, Kevin Appleby and GrowCFO mentor Susana Serrano‑Davey explore a critical question for modern finance leaders: whether the rapid rise of AI is enhancing or eroding the strategic role of the CFO. They frame AI as both an incredibly powerful assistant and a potential threat to originality, judgment, and confidence if used uncritically. Throughout the conversation, they examine how tools like ChatGPT and other AI solutions are reshaping research, writing, preparation, and decision support for finance leaders, and what this means for the future of strategic finance careers.
The discussion moves from personal use cases, AI as a “personal assistant, sounding board, and translator”—into the realities of implementing AI within finance functions. Susana and Kevin highlight the growing interest in AI among CFOs contrasted with a lack of confidence about how to deploy it in practice. They compare AI adoption to past ERP implementations, emphasizing trial‑and‑error, learning from failure, and maintaining authenticity. The episode ultimately argues that AI should augment, not replace, a CFO’s strategic thinking: the winners will be those who use AI for speed and insight while preserving their own voice, critical judgment, and leadership presence.
Key topics covered:* AI is becoming a personal assistant and translator for finance leaders, dramatically changing how they research, write, and prepare for meetings and communications. * Both speakers warn that over‑reliance on AI risks diluting authenticity, with presentations and content sounding generic when leaders delegate too much to AI. * The episode highlights how AI can undermine critical thinking and self‑confidence if finance professionals treat AI outputs as answers rather than input for their own judgment. * Implementing AI in finance is compared to complex ERP rollouts—CFOs are interested but cautious, overwhelmed by the volume of tools and uncertainty about where to start. * Kevin and Susana stress that AI should be used mainly for research, framing, and speed, while the CFO’s strategic value lies in interpretation, narrative, and decision‑making. * They raise concerns that widespread AI use could homogenize thinking and propagate confident but wrong answers, making human skepticism and validation more important than ever.
Links* Susana Serrano-Davey on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps: * 0:00:00 – Kevin introduces Susana and they explore how AI is already reshaping day‑to‑day work, especially for finance leaders who use it for research and drafting. * 0:02:46 – Susana describes AI as her “personal assistant and translator,” while Kevin explains how he uses AI extensively for reports, webinars, and thought leadership content. * 0:07:13 – A workshop example shows how heavy dependence on ChatGPT produced a less authentic presentation, prompting a deeper discussion on storytelling, personal experience, and confidence. * 0:12:38 – They compare AI rollouts to ERP implementations: CFOs are intrigued but hesitant, facing tool overload, uncertainty, and the need to accept mistakes and learn quickly. * 0:25:01 – Kevin questions whether AI is eroding original thinking; Susana argues leaders must protect their own voice and avoid relying solely on AI‑generated content. * 0:30:47 – The episode closes by examining AI’s tendency to sound certain even when wrong, and the risk of AI‑generated falsehoods becoming accepted truths without human scrutiny.
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://open.spotify.com/episode/0OACVC3ORVz0myWlYqkdz1Stepping into a first CFO role is rarely a smooth promotion from finance manager to “bigger calculator.” In this GrowCFO episode, host Kevin Appleby speaks with Ian Goodkind, Chief Financial Officer at Smarsh, about the often‑overlooked capabilities that determine whether a new CFO becomes a true strategic leader or struggles with imposter syndrome. The conversation underscores how the modern CFO role has shifted from pure financial stewardship to that of strategic, tech‑savvy, trusted advisor at the center of complex, AI‑driven and heavily regulated businesses.
Against the backdrop of Smarsh, a profitable, AI‑native leader in communications data compliance and intelligence, Goodkind explains how today’s CFO must understand macro forces, regulation, and technology while also managing non‑finance functions such as IT and operations. He shares practical, experience‑based advice for aspiring and newly appointed CFOs on building external peer networks, developing strategic and listening skills, embracing AI for both efficiency and value creation, and navigating the psychological shift into the C‑suite. The episode delivers a clear message: technical finance skills get a professional into the CFO seat, but it is strategic thinking, curiosity, and people‑centric leadership that keep them there and drive impact.
Key topics covered:* Smarsh’s mission, regulatory moat, and AI‑native product strategy as the context for Ian Goodkind’s CFO role and growth mandate. * The evolution of the CFO from “number cruncher” to strategic leader and trusted advisor, requiring deep understanding of the macro environment and industry dynamics. * The importance of building and leveraging a peer network of CFOs to counter isolation, share best practices, and overcome imposter syndrome in the early stages of the role. * How active listening, cross‑functional relationship‑building, and regular conversations with sales, strategy, IT and other leaders expand a CFO’s lens beyond purely financial metrics. * Practical ways finance teams are already using AI for repetitive and manual processes, freeing capacity for higher‑value work while scaling without equivalent headcount growth. * Why future‑ready finance functions must recruit and develop talent with automation and AI skills, positioning AI as an efficiency and empowerment tool rather than a headcount reduction lever.
Links* Ian Goodkind on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps: * 0:00:00–0:00:02 – Introduction to Ian Goodkind and Smarsh; mission, customer base, regulatory focus, and the AI‑driven surveillance and compliance platform that frames his CFO mandate. * 0:00:02–0:00:04 – Dual role of the CFO as steward of AI governance internally and advocate of secure, AI‑native products for highly regulated customers; addressing hallucination and data security concerns. * 0:00:04–0:00:07 – Strategic “bowling pin” growth framework: moving from archiving to data capture, surveillance, and intelligence; using proprietary data and regulatory specialization as a durable moat. * 0:00:09–0:00:12 – Advice to aspiring and new CFOs: study the macro environment, understand industry risk beyond the “four walls” of the company, and embrace the role as a core strategist. * 0:00:12–0:00:15 – Transition from finance operator to trusted advisor: understanding what keeps the C‑suite and board awake at night, widening the lens beyond pure financial risk. * 0:00:15–0:00:19 – Managing the psychological shift into the CFO role: imposter syndrome, the loneliness of the C‑suite, and how a structured peer network and mentoring mitigate these pressures. * 0:00:19–0:00:22 – The role of active listening, curiosity, and deliberate calendar design—spending time with sales enablement, customers, and reading widely—to build a holistic, strategic viewpoint. * 0:00:22–0:00:25 – Overseeing IT as a CFO: why previous collaboration on systems, ERPs, and audit committees makes the transition manageable, and how strong IT leadership complements the role. * 0:00:25–0:00:28 – Concrete examples of AI in finance like automating repetitive accounting, payroll, and manual processes; setting explicit AI efficiency goals for each sub‑team. * 0:00:28–0:00:31 – Experimenting with AI in day‑to‑day management (e.g., job descriptions, process benchmarking) and the challenge of training and upskilling finance teams in a rapidly evolving AI landscape. * 0:00:31–0:00:33 – Reframing AI as a scaling and engagement tool, using automation to avoid adding headcount while removing boring, repetitive work so finance professionals can focus on higher‑value activities. * 0:00:33–0:00:34 – Why intelligence and risk insight on top of longstanding archiving and capture capabilities represent the next game‑changing phase for regulated industries.
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://open.spotify.com/episode/6VmtDMkbdfGLsDqQacuPGiThis episode of The GrowCFO Show brings together David Tuck, Founder of Mayday and CFO Tech Stack, and Kate Hayward, Managing Director UK at Xero, to challenge one of the biggest assumptions in mid-market finance: that fast-growing businesses must eventually abandon Xero for a larger ERP. Drawing on real-world data from the State of the Stack report and the CFO Tech Stack community, they demonstrate how finance teams are successfully scaling to $100M+ in revenue, and running sizeable in-house finance functions, while staying on Xero and surrounding it with a best-in-class ecosystem of tools.
The discussion moves from the origins and purpose of Xero as a cloud-based system of record through to the realities of scaling with an app stack versus undertaking a disruptive ERP migration. David and Kate share evidence from dozens of growing businesses, highlighting how Xero plus Mayday and complementary apps are delivering better, cheaper, and faster outcomes compared with traditional ERP transformations. They also explore how AI and automation are reshaping month-end, reporting, and forecasting, positioning Xero and its ecosystem as “AI winners” rather than legacy holdovers. The result is a practical, evidence-backed roadmap for CFOs who want to keep their finance function agile, tech-enabled, and focused on value creation rather than costly system overhauls.
At its core, this episode underscores why the default assumption for modern CFOs should be to scale on Xero with an ecosystem, only moving to ERP when there is a truly critical business reason to do so. It frames the Xero-based tech stack not as a compromise, but as an empowered, future-ready platform for ambitious mid-market finance teams who want to avoid unnecessary transformation risk while still achieving enterprise-grade capabilities.
Key topics covered:* The guests dismantle the myth that growing companies must abandon Xero as they scale, showing multiple examples of businesses surpassing $50–100M+ in revenue while remaining on Xero with an ecosystem of specialist apps. * David introduces the CFO Tech Stack community and the State of the Stack report, explaining how it provides psychological safety and precedent for finance leaders who want to scale on Xero rather than defaulting to ERP. * Kate explains Xero’s original mission as a single cloud-based system of record for small and mid-sized businesses, and outlines how it now supports larger, multi-entity and franchise-style organizations through integration with a rich app ecosystem. * The conversation details common components of a modern Xero-based finance stack including reporting, operations (AP, payroll, spend, FX, inventory, billing), and planning tools, and how these collectively rival or surpass ERP capabilities. * Both speakers stress the risks and weak business cases of unnecessary ERP transformations, arguing that many scale-ups should prioritize growth, fundraising, and market expansion over complex finance system migrations. * They explore how AI and automation are being embedded into Xero and Mayday, turning Xero from a system of record into a system of action and decision-making, and automating month-end tasks like intercompany reconciliations and revenue recognition.
Links* David Tuck on LinkedIn * Kate Hayward on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps: * 00:00:00 – 00:00:05 – Introduction to the episode, guests, and core premise: can CFOs scale past perceived Xero “limits” without moving to ERP? * 00:00:05 – 00:00:07 – Kate outlines Xero’s origin story and its role as a single source of truth for small and medium businesses needing real-time financial insight. * 00:00:07 – 00:00:10 – Discussion of how far Xero can scale, including examples of larger, multi-entity businesses successfully running on Xero with an app ecosystem. * 00:00:10 – 00:00:13 – David breaks down the State of the Stack report: core infrastructure and the main categories of apps (reporting, operations, planning) that typically surround Xero. * 00:00:13 – 00:00:16 – Kevin explains GrowCFO’s independent stance on technology and why GrowCFO chose to sponsor the State of the Stack report for the CFO community. * 00:00:16 – 00:00:19 – Deep dive into the myth of “outgrowing Xero” and the importance of proving that many mid-market businesses can and do scale on Xero plus a tech stack. * 00:00:19 – 00:00:23 – Discussion of the real cost and distraction of ERP transformations, and why many high-growth CFOs should avoid them unless there is a compelling business case. * 00:00:23 – 00:00:29 – Exploration of AI-native platforms vs. Xero ecosystem: how Xero and Mayday are integrating AI for decisioning, automation, and month-end efficiency. * 00:00:31 – 00:00:33 – Call to action: how finance leaders can access the State of the Stack report and join the upcoming webinar to see real-life examples of Xero-based scaling.
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://open.spotify.com/episode/5viwKl2fFV1BFDZGyag2rNIn episode 276 of the GrowCFO Show, host Kevin Appleby is joined by Howard Francioni, Lead Auditor at Akton Boundrie Group, to explore why information security has become a core responsibility for today’s CFO. The conversation frames cyber risk not just as an IT problem but as a strategic, financial, and reputational threat that CFOs must own. Using high‑profile breaches such as Jaguar Land Rover and others, Kevin and Howard illustrate how attacks can halt production, disrupt supply chains, destroy value, and inflict long‑term brand damage, issues that sit squarely in the CFO’s remit of safeguarding enterprise value.
From there, the discussion moves into practical guidance for finance leaders who may not have a CISO or large security team. Howard explains how CFOs can embed information security into risk registers, adopt a “defense in depth” mindset across customers and suppliers, and drive culture change around password hygiene, endpoint security, backups, and data leakage prevention. The episode concludes with forward‑looking insights on AI, data governance, and why standards such as ISO 27001 and ISO 42001 offer powerful frameworks—even for smaller, growing finance organizations—to systematically reduce cyber and data risks.
Key topics covered:* Why information security has shifted from a pure IT concern to a strategic CFO responsibility, given its impact on operations, finances, and reputation. * Real‑world breach examples (e.g., Jaguar Land Rover, Marks & Spencer, Co‑op) showing how attacks on suppliers can cascade through the entire value chain. * Practical foundations of defense in depth: robust password hygiene, secure endpoint configuration, dual user/admin accounts, disk encryption, patching, VPN use, and regular device hygiene. * The critical difference between data leakage and data loss, and how everyday behaviors, such as conversations on trains or visible screens, can quietly leak sensitive information. * How immutable offline backups and structured risk registers enable organizations to survive ransomware incidents without paying attackers. * Emerging risks from AI and agents: systems built without security by design, hallucinations, IP ownership issues, and the need for AI‑specific governance frameworks like ISO 42001.
*About Howard Francioni*Howard Francioni is an Information Security specialist with nearly two decades of experience in the card-payments industry—one of the most heavily targeted sectors for cyber-attacks—working across ATMs, POS, online payments, and MOTO environments. He led projects including pioneering contactless EMV acceptance in mass transit for Transport for London and building secure X.509 infrastructures for payment terminals, while also heading a PCI DSS function supporting around 140,000 merchants with data-driven compliance and breach investigations. Today, he helps organizations develop ISO/IEC 27001-aligned information security frameworks and serves as an independent auditor for UKAS-accredited certification bodies, combining consultancy and auditing to strengthen organizational security practices.
Links* Howard Francioni on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps: * 00:00:38 – Howard explains how breaches cause production outages, operational disruption, and severe reputational harm—core concerns for any CFO. * 00:02:21 – Discussion of how threat actors target less secure suppliers to reach larger organizations, and why CFOs must think in terms of ecosystem‑wide defense in depth. * 00:05:00 – Howard outlines the three recurring problem areas he sees: poor password hygiene, insecure endpoints, and lack of a healthy “suspicious mindset” among staff. * 00:10:19 – Concrete measures for devices, including PIN/biometric login, dual standard/admin accounts, disk encryption, patching, reboots, local backups, and use of VPNs on public networks. * 00:18:23 – Stories about overheard conversations, visible screens, and password Post‑its illustrate how data can be leaked without being “lost,” and why leakage is often more insidious. * 00:21:26 – Howard stresses that once files are encrypted, recovery is only possible if immutable, offline backups and clear mitigation actions were in place beforehand. * 00:28:27 – Comparison between how the internet was built without security in mind and how AI is repeating the pattern, plus why AI‑specific standards are now essential. * 00:35:52 – Kevin summarizes what CFOs should do next: understand potential large‑scale and insider risks, quantify reputational impact, and implement practical controls ahead of any incident.
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=S_IZQTzJDcghttps://open.spotify.com/episode/54mrNA8HZaZWRvpS5wniw5In this episode, host Kevin Appleby is joined by Gavin McGahey, CTO and Co‑Founder of AccountsIQ, to explore one of the most pressing questions facing finance leaders today: how to choose between shiny “AI‑native” tools and proven finance platforms. The conversation sets out why finance data, controls, and auditability demand a higher bar than generic AI adoption, and why CFOs cannot afford to gamble on tools that prioritise novelty over reliability.
Gavin traces the evolution of AccountsIQ from its origins in 2005 as an early web‑based accounting solution through to today’s environment of interoperability, APIs, and embedded AI. He explains how AI is already transforming finance operations, particularly through automation, document capture, and coding, while stressing that trust, transparency, and explainability must sit at the core of any finance AI strategy. Rather than chasing hype, he argues that finance leaders should look for platforms that build AI as an assistive, tightly‑scoped layer on top of robust, battle‑tested financial controls.
Across the discussion, listeners hear a pragmatic framework for evaluating AI in finance systems: can it be trusted, can users see what it is doing, and can auditors trace its outcomes? Gavin shares how AccountsIQ is using AI agents, machine learning and long‑standing technologies such as OCR to remove bottlenecks, from invoice coding to bank reconciliation, without undermining control or data privacy. The episode offers CFOs and finance leaders a grounded, practitioner’s view of how to balance innovation with reliability when selecting their next generation of finance technology.
Key topics covered:* Gavin outlines the 20‑year journey of AccountsIQ from early “web‑based” accounting to a fully cloud, API‑driven platform serving modern finance teams. * Gavin describes how AI and machine learning have already driven around 30% productivity gains in development and design workflows, accelerating both feature delivery and prototyping. * Shadow AI and cautious CFO adoption: The discussion highlights the rise of shadow AI, staff using personal AI tools at work, and why CFOs are taking a measured, conservative approach to AI adoption in finance. * Gavin explains why long‑standing finance systems with strong controls, security and compliance can be a safer bet than brand‑new “AI‑native” tools that may be inconsistent, opaque, or loose with data usage. * AccountsIQ’s strategy focuses on tightly scoped, assistive AI agents that automate tasks such as invoice coding, expense processing and reconciliations, while keeping finance professionals firmly “in the loop”. * Gavin closes with a simple evaluation lens for any finance AI solution: Can I trust it? Can I see what it’s doing? Can I audit the outcome?
Links* Gavin McGahey on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps: * 00:03:06 – Discussion on interoperability, APIs, and the rise of connected finance stacks integrating expense tools, automation, and accounting platforms. * 00:04:20 – Gavin reflects on AI as the biggest change of his 25‑year career, with examples of how tools like ChatGPT have transformed document creation and finance operations, and what Gartner data shows about a plateau in AI adoption. * 00:07:34 – Deep dive into AccountsIQ’s assistive AI agents approach, focused on automating bottlenecks such as invoice coding, OCR‑based AP automation and bank reconciliation, rather than deploying uncontrolled chatbots over finance data. * 00:10:10 – Core segment on AI‑native tools vs established platforms: Gavin explains why experience, financial controls, security, and predictable performance matter more than “AI‑washing” and why AccountsIQ doesn’t use customer finance data to train models. * 00:14:37 – How regulation (e.g. EU AI Act), explainability, and audit trails are being baked into AI agents, and why transparency about how AI reaches its recommendations is critical in finance. * 00:29:58 – The future role of finance teams: AI removing manual work, creating capacity rather than straightforward headcount cuts, and enabling more analytical, insight‑driven finance functions. * 00:32:09 – Gavin’s closing advice to cautious CFOs: use the three‑question test—trust, visibility, and auditability, before committing to any AI‑driven finance solution.
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=niLFK8PzZfAhttps://open.spotify.com/episode/2k0Q4tIQThBIQZ5cCfz5nqIn today’s M&A landscape, the businesses that achieve premium valuations are rarely those with the best numbers alone. They are the ones with brands that command trust, preference, and pricing power. Yet, brand equity is still one of the least understood and least quantified assets in most deals, often buried in a vague goodwill line and ignored in negotiation. For CFOs, founders, and deal professionals, learning how to value brand equity in an M&A deal has become essential to avoiding underpriced exits and capturing the full economic value of what has been built over years, if not decades.
In this episode of The GrowCFO Show, host Kevin Appleby tackles a topic that is rapidly becoming mission-critical in corporate transactions: how to value brand equity in an M&A deal. Traditional deal models lean heavily on EBITDA multiples, revenue, and tangible assets, often sweeping brands into a vague “goodwill” bucket. Yet buyers are truly paying for demand, pricing power, and confidence in future cash flows, all of which are heavily influenced by brand equity. Failing to quantify this asset means many sellers unintentionally give away a significant portion of what they have built.
To unpack this, Kevin is joined by Stevey Arroyo, Founder & Partner at The Brand Exit, who explains how a brand can be transformed from something “soft” and aesthetic into a measurable, auditable financial asset. Drawing on ISO 10668 and practical M&A experience, Stevey shows how tools like relief-from-royalty and replacement cost can be used to calculate brand value, justify premium multiples, and de-risk post-deal cash flows. For CFOs, founders, and deal professionals preparing for an exit or acquisition, the discussion offers a structured pathway to turning perceived brand value into defensible numbers that stand up in due diligence and negotiations.
Key topics covered:* Why treating brand equity as indistinct “goodwill” leads to incomplete valuations and allows sophisticated buyers to capture unpriced upside in M&A deals. * How ISO 10668 and the relief-from-royalty approach can convert brand equity into a concrete number using projected revenues, replacement cost, discount rates, and market value assumptions. * The role of brand in driving demand, pricing power, and quality of earnings, and why these factors often justify a higher multiple than the standard industry benchmark. * Why effective exits start years in advance, with brand audits, evidence-building, and linkage of metrics like CAC, LTV, and ROAS to enterprise value, rather than last-minute positioning. * How AI, SEO, and “answer engine optimization” (AEO) are reshaping discoverability, and why being the most specific, trusted brand in a crowded market will increasingly drive both deal flow and valuation. * Case examples, from specialist properties to Pimlico Plumbers and Apple, illustrate how targeting the right buyer and properly articulating brand equity can multiply deal value well beyond the underlying assets.
Links* Stevey Arroyo on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps: * 00:00:00 – 00:05:00 – Kevin introduces the importance of valuing brand equity in M&A and welcomes guest Stevey Arroyo, who outlines his journey from creative agencies to brand-focused M&A. * 00:05:00 – 00:15:00 – Why brand is more than logos and design; how brand equity sits behind customer preference, demand, and the very ability to sell a business versus a look alike competitor. * 00:15:00 – 00:25:00 – Breakdown of ISO 10668, relief-from-royalty, replacement value, and market value—how these methods turn a brand into a certified, auditable asset in deals. * 00:25:00 – 00:35:00 – Exit readiness and due diligence: brand audits, building a multi‑year “log of proof,” and linking marketing metrics to the de‑risking of future cash flows. * 00:35:00 – 00:46:00 – AI-driven discoverability, examples like Pimlico Plumbers, and how both buyers and sellers can use brand equity strategically to identify bargains or justify a premium sale.
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=lzUbogTP12Ahttps://open.spotify.com/episode/5adKQ9IEs8J3Y9kTHp4NBdIn today’s capital-constrained and AI-accelerated economy, company valuation is no longer just an exit consideration, it is a strategic priority. Investors, lenders, and strategic partners are increasingly assessing businesses not only on financial performance but on scalability, defensibility, and global potential. For modern finance leaders, valuation has become a continuous process rather than a one-off event.
In this episode of The CFO Show, Matteo Turi, Chief Operating Financial Officer at Letoon Holding Ltd, shares a structured framework for driving valuation growth: the High Valuation Triangle. Drawing on over two decades of CFO experience across blue-chip organisations, scale-ups, restructurings, and turnarounds, Matteo outlines how intellectual property monetisation, leadership architecture, and global market strategy combine to make businesses investable at every stage, from startup to exit.
The discussion explores how CFOs must move beyond traditional reporting responsibilities and step into the role of “valuation architect.” As artificial intelligence reshapes competitive dynamics and lowers geographic barriers, the ability to systemise, scale, and defend value has never been more critical. This episode provides finance leaders with a practical lens for building transferable, investor-ready value in an increasingly intangible economy.
Key topics covered:* Why intellectual property monetisation significantly increases funding probability and enterprise value * The importance of building transferable value through succession planning and leadership depth * How CFOs should evolve into Chief Value Officers and valuation architects * The role of global expansion and partnerships in accelerating valuation growth * Why AI amplifies both operational strengths and weaknesses — and what CFOs must fix first * How failing strategically, pivoting decisively, and scaling systematically drive long-term value creation
Links* Matteo Turi on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps: * 00:00:01 – Introduction to the High Valuation Triangle framework * 00:02:00 – Why CFOs must focus on wealth creation, not just wealth management * 00:04:15 – Intellectual property monetisation and its impact on funding success * 00:11:08 – Building transferable value through leadership architecture * 00:17:44 – The global markets dimension of valuation growth * 00:23:06 – Overview of Fail, Pivot, Scale and its practical application * 00:33:08 – AI as the “new electricity” and why businesses need a structural grid * 00:36:17 – Preparing processes and documentation to scale with AI
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=qPIiggRPhGUhttps://open.spotify.com/show/7yTcgGvYdcXPxz2HbvgB2HThe transition from Finance Leader to Chief Financial Officer is one of the most significant and demanding career moves in finance. While technical excellence, financial control, and operational discipline form a strong foundation, stepping into the CFO role requires a fundamental shift in mindset. It is not simply a promotion—it is a move from managing finance to leading the enterprise. The CFO becomes the strategic partner to the CEO, the external face of finance, and a key voice with investors, boards, and stakeholders.
In this episode, Richard Turner, GrowCFO Mentor and Certified Transition Coach, draws on more than four decades of international finance leadership across 15 sectors and multiple countries. He explains how adaptability, humility, and curiosity enable successful transitions between industries—and why these same qualities are essential when progressing from FD to CFO. Richard outlines the universal principles that underpin effective finance leadership, from cash and cost management to stakeholder awareness and team empowerment, and explores how these fundamentals evolve at executive level.
The conversation also addresses the modern pressures facing CFOs, including rapid technological change, AI adoption, and increasing executive scrutiny. Richard emphasizes that today’s CFO must balance digital fluency with deeply human leadership—coaching teams, building trust, and supporting CEOs under pressure. With research showing that 40% of executives fail in new roles, he highlights the importance of structured mentoring and transition support to ensure aspiring CFOs not only secure the role—but succeed in it.
Key topics covered:* Why the move from FD to CFO requires a shift from operational control to enterprise-wide leadership * The five universal principles that apply across all industries and underpin CFO effectiveness * The three major pressures facing modern CFOs: technology, human leadership, and CEO partnership * Why humility and curiosity are critical when entering new industries or executive roles * The “5 Cs” communication framework every aspiring CFO should master * How structured mentoring and executive transition coaching reduce failure risk in new roles.
Links* Richard Turner on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps: * 00:00:39 – Richard outlines his second career in mentoring and global finance background * 00:02:37 – International career journey across Asia, Europe, Middle East, and Africa * 00:06:16 – Moving across industries: transferable finance leadership fundamentals * 00:07:56 – Humility in new sectors: leadership lessons from oil & gas * 00:16:14 – What is keeping CFOs awake at night: technology, humanity, and CEO pressure * 00:20:20 – Extraordinary leadership: raising and empowering future leaders * 00:33:39 – Transitioning from FD to CFO: enterprise-wide skill expansion * 00:36:42 – The “5 Cs” of executive communication * 00:41:46 – Executive transition coaching and why 40% of executives fail in new roles * 00:44:16 – The orchestra analogy: FD vs CFO leadership scope
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=vLJhHDOeYochttps://open.spotify.com/episode/05kTRvPnWeF66oWELGTfsmAccess to capital is no longer cheap or guaranteed. Companies that once grew by “buying” growth with aggressive spend are now being forced to prove they can scale in a way that’s sustainable, repeatable, and cash‑efficient.
Kevin Appleby sits down with Manu Diwakar, Chief Financial Officer at Virta Health, to unpack how high‑growth companies can scale aggressively without setting fire to their cash reserves Manu draws on a career that spans Riot Games, the creator economy, AgTech, and now digital health, to show what disciplined, intelligent growth really looks like in practice. This isn’t theory; it’s the lived experience of a CFO who has repeatedly joined businesses in the steep part of the growth curve and helped them mature without losing their edge.
Manu explains how Virta Health is tackling the massive, expensive problem of metabolic disease with a model that reverses conditions like type 2 diabetes while also reducing healthcare costs Along the way, he breaks down how to think about capital efficiency, when to raise versus when to generate and reinvest your own cash, and why talent, culture, and clear unit economics beat vanity metrics every time. For finance leaders and founders who want to scale with ambition—but keep control of the runway—this conversation offers a grounded, experience‑driven playbook.
Key topics covered:* Manu’s journey from Riot Games to digital health and why he chooses roles where the business is still being built and scaled, not just maintained * How Virta Health’s model reverses metabolic disease while lowering costs, and what that teaches about aligning mission, product, and economics * Why scaling without burning cash starts with clear value delivery, not price cuts—especially in tough capital markets * The importance of hiring for growth: building teams whose capabilities can stretch with the business rather than constantly hiring “the next tier up” * How a CFO can balance regulation, data security, and innovation in complex sectors like digital healthcare * Manu’s advice to aspiring CFOs: prioritize environments with steep learning, strong teammates, and real growth, not just impressive titles
Links* Manu Diwakar on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps: * 0:00 Manu’s career in high‑growth companies – From Riot Games to Virta Health and why he gravitates to businesses that are still being built and scaled * 4:00 Virta Health’s mission and metabolic disease explained – What metabolic disease really is and how Virta’s approach tackles the root cause, not just symptoms * 8:20 Business model and unit economics – How partnering with health plans and employers, and charging per engaged patient, underpins a scalable, cash‑efficient model * 12:10 Regulatory complexity vs. innovation – Balancing cost efficiency, patient outcomes, data security, and compliance in digital healthcare * 15:40 Scaling without over‑spending – Generating capital internally, reinvesting in growth, and resisting the temptation to chase volume with discounts * 19:30 Talent and leadership in scaling teams – Lessons from Riot on hiring for potential, designing growth paths, and building a high‑calibre environment * 30:50 Career advice for future CFOs – Why continuous learning, working in truly growing businesses, and choosing stellar leaders matters more than almost anything else
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=FyAXw591D6shttps://open.spotify.com/episode/2Ci2KM7yh8NDxeX6Zr6QPfIn this episode, Kevin Appleby speaks with GrowCFO Mentor Alan Scholnick, a finance leader with over 30 years’ experience at IKEA, to explore why so many newly appointed CFOs struggle with imposter syndrome and feelings of fraudulence. Drawing on his journey from accounting roles to VP of Finance and later into executive coaching, Alan explains how the leap into the CFO role magnifies expectations around leadership, communication, and people development, often faster than new CFOs feel ready to handle. He frames these doubts not as weaknesses but as predictable responses to heightened responsibility and visibility.
The conversation highlights practical strategies new CFOs can use to navigate these pressures: building trust with stakeholders, improving communication and active listening, and grounding confidence in past achievements. Alan emphasizes that finance transformations are fundamentally about people, not just processes or technology, and that self-reflection, clarity of purpose, and continuous learning are essential for any CFO who wants to move from feeling like a fraud to leading with credibility and impact. He also shares how mentoring, reverse mentoring, and ongoing development inside and outside the organization can help finance leaders sustain confidence over the long term.
Key topics covered:* The discussion frames imposter syndrome as a common, almost inevitable experience for new CFOs, especially during major finance transformations. * Alan outlines practical techniques to build confidence, including revisiting past accomplishments and reframing internal narratives that fuel self-doubt. * The episode underscores the importance of communication, active listening, and curiosity in building trust and social equity with stakeholders. * Alan explains how continuous learning, teaching, and mentoring—both as mentor and mentee—help finance leaders stay relevant and resilient amid rapid change. * The conversation closes with Alan’s perspective on the type of mentee who benefits most from GrowCFO mentoring and how a growth mindset accelerates CFO development.
Links* Alan Scholnick on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps: * 0:03:59 – Discussion on why people skills and leadership by example are critical when leading finance transformations. * 0:05:16 – Alan explains how he helps finance leaders understand the “why” behind change and communicate it clearly to their teams. * 0:07:40 – Focus on active listening, curiosity, and relationship-building as foundations for CFO credibility with stakeholders. * 0:09:34 – Alan and Kevin directly address imposter syndrome, exploring why many new CFOs feel like frauds and how to rebuild confidence from prior achievements. * 0:18:35 – Alan discusses transitioning from internal finance roles to external teaching, coaching, and representing the finance story to broader audiences. * 0:23:31 – How academic work, private clients, and coaching combine to keep a finance leader’s skills current and versatile. * 0:25:21 – Alan describes the mindset of an ideal mentee and the value of reverse mentoring, including learning from younger professionals. * 0:30:37 – Kevin and Alan wrap up with the benefits of GrowCFO mentoring and the importance of a safe, supportive environment for CFO development.
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=8i6KEoQt1PQhttps://open.spotify.com/episode/31OO5n3ePbBErPCklIhUimFor modern finance leaders, staying offline is no longer a neutral choice. In an environment where boards, CEOs, and recruiters routinely research candidates before they ever meet them, a CFO’s digital presence has become a critical part of their professional reputation. This episode explores why even the most technically strong CFOs risk being overlooked if their expertise is invisible online—and how a thoughtful, strategic presence can amplify their impact, influence, and career opportunities.
In this episode, Kevin Appleby interviews Wassia Kamon, Chief Financial Officer at ACE, on why modern CFOs who remain offline are increasingly being overlooked for senior roles and strategic opportunities. Wassia explains that technical excellence and a strong CV are no longer enough on their own; in a world where boards, CEOs, recruiters, and investors routinely research leaders online, a CFO’s digital footprint now forms a critical part of their professional reputation. The discussion positions online presence not as vanity marketing, but as a strategic leadership tool for signalling credibility, expertise, and relevance.
Wassia breaks down how finance leaders can translate their offline achievements into a thoughtful online narrative, especially on platforms like LinkedIn. She explores the risks of staying invisible—missed promotions, fewer board invitations, and weaker influence in the market—and contrasts that with the compounding benefits of controlled visibility: attracting better opportunities, shaping industry conversations, and building trust at scale. Throughout the episode, she offers practical, realistic steps for time-poor CFOs to build a presence that aligns with their values, protects their reputation, and supports both their organisation’s brand and their own long‑term career.
Key topics covered:* Why relying on “my work will speak for itself” is dangerous for CFOs in an era where decision‑makers research leaders online before ever speaking to them. * The specific ways a weak or non‑existent LinkedIn presence can cause a CFO to be passed over for roles, speaking engagements, and advisory positions. * How CFOs can reframe personal branding as professional positioning—focusing on credibility, clarity of message, and service to stakeholders rather than self‑promotion. * Practical tactics for busy finance leaders to build an online presence in under 30 minutes a week, without feeling inauthentic or overly self‑promotional. * The role of thought leadership content (posts, articles, podcast appearances, panels) in signalling strategic capability beyond accounting and control. * How a visible, values‑aligned online presence helps CFOs attract better talent, influence key external stakeholders, and future‑proof their careers against rapid change and AI disruption.
Links* Wassia Kamon on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps: * 00:00–03:00 – Introduction: why staying offline is no longer a neutral choice for CFOs and how visibility influences who gets noticed for top roles. * 03:00–10:00 – Wassia’s perspective on how boards, recruiters, and CEOs research candidates online and what they expect to see from a modern finance leader. * 10:00–18:00 – Breaking the “I’m not a marketer” mindset: reframing personal branding as risk management, professional positioning, and stakeholder communication. * 18:00–28:00 – Concrete examples of simple, repeatable LinkedIn habits CFOs can build—profile optimisation, commenting, and sharing expertise in a low‑friction way. * 28:00–36:00 – How visibility ties directly into influence: winning internal sponsorship, attracting external opportunities, and shaping perception of the finance function. * 36:00–44:00 – Final playbook: a realistic weekly routine for CFOs to maintain an online presence without sacrificing core responsibilities.
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=EF8e-rMB7Sohttps://open.spotify.com/episode/3kYIPViq648aqBM8MzHlcMScaling quickly is every growth company’s dream, but it’s also the phase where finance is under the greatest threat. Rapid headcount expansion, evolving pricing, complex contracts, and rising investor expectations all hit at once—and every weakness in your finance stack is amplified. Understanding why this phase is so dangerous, and how to design the right controls, systems, and billing infrastructure, is critical if you want to protect cash, avoid revenue leakage, and build a resilient, investor‑ready business.
In this episode, Kevin Appleby talks with Shadid Talukder, Strategic Finance Lead at Posh AI, about why the fastest phase of scaling is also the most dangerous for finance. They explore how a lean three-person finance team manages rapid ARR growth, complex enterprise contracts, and investor pressure for both growth and efficiency.
Within Posh AI’s finance stack, Zenskar plays a central role in billing and revenue recognition for a complex SaaS business selling into banks and credit unions. As pricing and contract structures evolved—across monthly, annual, and multi‑year deals—manual spreadsheets became too risky and operationally heavy. Zenskar now acts as a single system of record for contracts, subscriptions, line items, and future invoices, forecasting and scheduling billing over the life of each deal. This dramatically reduces manual reviews, mitigates missed invoices and revenue leakage, and lets Posh scale billing complexity without proportionally scaling finance headcount or operational risk.
Key topics covered:* Zero-to-one finance in a fast-scaling AI startup: Shadid joined Posh AI when “the books were literally empty” and helped the company triple ARR while building financial models, reworking an initially non-scalable chart of accounts, and installing core finance processes from scratch * Scaling headcount vs. VC expectations and burn: As Posh grew from ~30 to ~80 FTEs, shifting VC expectations forced a move from “growth at all costs” to tighter burn multiples, proving that rapid scaling without disciplined financial guardrails quickly becomes dangerous for finance * Running a modern finance org with a very lean team: Posh operates with a three-person finance function—SVP Finance, Strategic Finance (Shadid), and Accounting—where no work is “above” anyone, and leaders still handle AP/AR emails themselves, demonstrating what lean but high-caliber finance looks like in practice * Zenskar as a critical control for complex SaaS billing and revenue: To cope with complex, evolving pricing and a mix of monthly, annual, and multi-year contracts, Posh implemented Zenskar as a centralized system of record for contracts, subscriptions, and future invoices—significantly reducing the risk of missed billings and revenue leakage that could materially distort burn and board reporting * Deliberate restraint in tooling and tech stack: After initially “buying software like crazy,” Posh reversed course, cutting underused tools and adopting a strict standard that any new system must have a foundational, clearly justified use case; core stack is QuickBooks + spreadsheets + Zenskar + Ramp, with careful use of GPT for productivity rather than headcount replacement * Balancing growth, profitability, and dilution risk: Shadid outlines that the next phase is defined by sustaining growth while pushing toward profitability, making every incremental hire and dollar of software spend a high-stakes decision—especially when additional fundraising brings dilution, complex cap-table dynamics, and heightened investor pressure for returns
About Posh AIPosh AI is an AI‑native SaaS company focused on transforming customer engagement for banks and credit unions. By combining conversational AI with deep domain knowledge of financial services, Posh helps institutions automate routine interactions, deliver personalized experiences, and operate more efficiently, while meeting the strict reliability and compliance standards of regulated industries.
About Zenskar Zenskar is a billing and revenue platform built for modern SaaS companies with complex pricing and contracts. At Posh AI, Zenskar serves as the single source of truth for all customer contracts, subscriptions, and invoice schedules. Once a deal closes, the finance team loads key terms into Zenskar, which then automates invoicing over the contract term.
By moving off spreadsheet‑driven billing, Posh AI uses Zenskar to:
- Reduce manual billing work and one‑off reviews
- Prevent missed or incorrect invoices that can distort burn and board reporting
- Confidently support varied billing cadences and sophisticated deal structures
- This makes Zenskar a core control mechanism that enables Posh to scale faster while keeping finance lean and tightly governed.
Links* Shadid Talukder on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps: * 0:00–0:04 Kevin introduces Shadid Talukder and his Strategic Finance role at Posh AI. * 0:02–0:04 Shadid shares how he built finance from zero as Posh AI tripled ARR. * 0:04–0:06 Posh scaled from ~30 to ~80 FTEs as investor focus shifted to burn efficiency. * 0:09–0:11 Posh runs a full finance function with a three-person, hands-on team. * 0:11–0:15 Shadid explains why Posh relies on QuickBooks, spreadsheets, and simplicity. * 0:15–0:19 Zenskar became the system of record for managing complex SaaS billing and contracts. * 0:19–0:23 After overbuying tools, Posh adopted strict controls to keep the stack lean. * 0:22–0:23 Custom scripts and APIs replace traditional FP&A platforms. * 0:23–0:26 GPT tools are used to boost productivity without adding headcount. * 0:27–0:30 Shadid outlines the challenge of growing fast while staying within spend guardrails. * 0:30–0:34 The discussion covers Series B trade-offs, dilution, and investor expectations. * 0:35–0:38 Shadid reflects on decision pressure and the importance of founder trust. * 0:38–0:40 He explains how he operates a high-impact finance role remotely with periodic in-person sessions.
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=HnQ5K1BNAl8https://open.spotify.com/episode/0Rtn6WPqsCzQmMDOZOSnmVNonprofit finance often lags behind its for-profit counterpart due to structural funding constraints, donor reporting requirements, and historical expectations of finance as a back-office cost center rather than a strategy partner. This episode examines why nonprofit financial leadership is perceived to be about a decade behind and outlines concrete ways to modernize the CFO role—shifting from retrospective accounting to forward-looking strategy, donor partnership, and operational rigor that sustains mission at scale .
In this episode, Kevin Appleby hosts Ilana Esterrich, a GrowCFO Mentor and experienced nonprofit CFO, for a practical discussion on elevating nonprofit finance. Esterrich draws on a career spanning consulting, large corporates, and mission-driven organizations to explain how nonprofit finance must evolve from traditional, retroactive accounting to a strategic, value-creating function. She underscores that “no money, no mission,” and argues for disciplined investment in back-office capabilities—finance operations, legal, and technology—to build a foundation that enables programs to scale sustainably .
Kevin and Ilana discuss the growing expectations on nonprofit CFOs: scenario planning, interpreting donor intent, creative application of restricted funds, and partnering closely with development leaders. Esterrich also emphasizes people-centric leadership, shaped by her military background, and the importance of mentoring CFOs transitioning from “scorekeeper” to strategic leader. The conversation offers actionable insights for closing the perceived 10-year gap with for-profit finance, focusing on operational efficiency, stakeholder communication, and aligning finance with mission outcomes.
Key topics covered:* “No money, no mission”: nonprofits need a growth mindset and disciplined investment in back-office foundations to scale programs responsibly * Why nonprofit finance lags: CFO roles historically centered on backward-looking reporting versus forward-looking strategic architecture * Closing the gap: scenario planning, clarity on donor intent, creative use of funds, and operational efficiencies that reduce the cost to raise a dollar * Donor partnership: educating funders on the true cost of delivery and the need to resource “admin” to strengthen mission outcomes * Evolving CFO leadership: influence beyond finance, managing larger teams, and aligning finance early with strategy discussions * People-centric finance leadership: mission-first lessons from the military and mentoring the next generation of nonprofit CFOs
Links* Ilana Esterrich on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps: * 0:03:03 — “No money, no mission” and the case for investing in back office to strengthen program delivery * 0:05:59 — Navigating donor-imposed admin limits and bringing donors into the operational reality * 0:07:47 — CFO partnership with development and the shift toward direct donor engagement and reporting design * 0:08:56 — Why nonprofit finance is ~10 years behind and the move from scorekeeping to strategic CFO * 0:11:53 — Mentoring focus: helping CFOs become strategic value creators and people leaders * 0:18:41 — Military-informed leadership principles applied to modern nonprofit finance teams
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=_jWsLnnmcjAhttps://open.spotify.com/episode/0eoBcoM5gpdCjP3muHxCrQIn an era where CFOs are central to shaping valuation narratives, the “data cube” has emerged as a strategic edge. By unifying finance, commercial, and operational data into a single source of truth, CFOs can evidence revenue quality, retention, and growth levers with precision—thereby strengthening diligence readiness and elevating enterprise value. This episode unpacks how a robust data cube turns scattered systems into defensible metrics and actionable insights, enabling CFOs to move from reporting history to architecting valuation outcomes.
In this episode, Kevin Appleby hosts David Whitcombe, Founder and Managing Director of Data Vision Services, to examine how a “data cube” becomes the CFO’s secret weapon in private equity exits. Whitcombe outlines the cube as a unified, governed layer that integrates ERPs, CRMs, and operational sources to produce investor-grade metrics. By clarifying revenue quality, customer concentration, retention, and compounding dynamics, the cube enables CFOs to communicate valuation drivers credibly and consistently across diligence and board forums.
The discussion explores the practical path to building this capability—data discovery, mapping, and cleansing—along with realistic tooling from spreadsheets to modern integration stacks like Fivetran and DBT. The conversation also reframes the CFO role: beyond backward-looking reporting, a well-run cube supports forward-looking decision-making, ongoing value creation, and scalable insight for the wider organization. They touch on the promise of AI to democratize insights if it delivers action over noise, and on the skills and training needed to maintain the cube post-exit without costly org changes.
Key topics covered:* The data cube as a single source of truth connecting ERPs, CRMs, and ops data to produce investor-grade metrics and drive higher valuations * How the cube answers diligence-critical questions: revenue quality, customer concentration, retention, and growth compounding * Three valuation pathways: clearing tech due diligence, telling the metrics story credibly, and enabling better decisions that create value * Practical build: finding hidden data, mapping across systems, cleansing for consistency, and using modern integration tooling * CFO evolution: from reporting to proactive strategy, with AI poised to democratize insights when focused on actions * Sustainment after exit: skill mix for maintaining the cube and training existing teams over new headcount
Links* David Whitcombe on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps:
- 0:01:41 — Defining the “data cube” and why CFOs need a single source of truth for exits
- 0:02:43 — Proving revenue quality, retention, and growth; valuation impact pathways
- 0:05:36 — Data discovery, mapping, and cleansing across fragmented systems
- 0:09:50 — Early preparation to avoid integration gaps derailing exit readiness
- 0:16:02 — AI’s role in democratizing insights and enabling action-oriented analytics
- 0:19:07 — The evolving CFO: from reporter to strategist with a durable data platform
- 0:25:45 — Training and maintaining the cube post-exit with existing team capabilities
- 0:27:46 — Wrap-up and next steps, reinforcing ongoing value creation beyond the exit
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=oUuZyQZl1bIhttps://open.spotify.com/episode/7mFdcXjDTwb48H7AwuptDPIn this episode, Kevin Appleby hosts Acterys leaders Eric Reyhle (SVP Global Alliances) and Manuel Marcos (Regional Director EMEA/LATAM) to explore 2026: The Six Defining Challenges for the Office of the CFO. The conversation opens by underscoring why 2026 is a pivotal inflection point: the convergence of mature enterprise data platforms (e.g., Microsoft Fabric), governed data foundations, and practical AI that elevates finance from historical reporting to forward-looking decisioning. The guests frame AI’s promise and risks candidly—AI is transformative, but only as trustworthy as the underlying data and governance that feed it.
Across the discussion, Eric and Manuel translate technical change into finance impact: continuous planning over static, snapshot budgeting; predictive and scenario-driven decisions over backward-looking reporting; and a shift from spreadsheet “systems of record” to governed, auditable platforms that keep Excel/Power BI as the familiar front-end. They emphasize cyber resilience as a CFO mandate with direct P&L and valuation consequences, and outline a pragmatic path: modernize the data foundation, embed governance, enable real-time write-back and scenario modeling, and apply AI to augment—not replace—finance judgment. The result is a finance function positioned to deliver strategic foresight and resilient performance in 2026 and beyond.
Key topics covered:* Why 2026 is the inflection point: convergence of AI, governed data, and enterprise platforms like Microsoft Fabric. * From historian to pilot: AI automates consolidation/reconciliations and unlocks predictive forecasting and rapid scenario modeling. * Keep Excel/Power BI; fix the back end: shift from spreadsheet “system of record” to governed, auditable, AI-ready data with real-time write-back. * Cyber resilience is a CFO issue: attacks translate directly to P&L, cash flow, and valuation—governance and access control are non-negotiable. * Continuous planning replaces static snapshots: always-on data flow enables weekly/biweekly scenario refreshes and faster decisions. * Practical impact: 50–70% reduction in manual consolidation effort; 3–5x faster planning cycles; instant “what-if” responses for leadership.
Links* Eric Reyhle on LinkedIn * Manuel Marcos on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 00:03 Why 2026 is pivotal: AI goes mainstream as data platforms mature; finance and IT must converge. * 00:11 Finance’s shift: from manual reconciliations to predictive forecasts, anomaly detection, and rapid scenario simulations. * 00:16 Keep Excel/Power BI; govern the data: front-end familiarity with a secure, auditable back end and real-time write-back. * 00:22 Data lake/warehouse/mart “kitchen” analogy for finance–IT alignment and model design. * 00:23 Cybersecurity as a CFO mandate; the real risk of uncontrolled spreadsheets vs. governed environments. * 00:35 Quantified benefits: 50–70% less manual consolidation; 3–5x faster forecasting/budgeting; instant “what-if” analysis. * 00:39 Continuous planning defined: why snapshots are obsolete and how always-on data enables dynamic plans. * 00:45 Microsoft Fabric as connective data tissue; build on the stack users already know * 00:47 From reactive reporting to strategic foresight; leveraging granular operational data for predictive decisions. * 00:53 What differentiates 2026 leaders: modern data foundations, governance, AI augmentation, and cross-functional collaboration.
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=Ag1fw0H2rwUhttps://open.spotify.com/episode/33PbwJ8JaoPUFiqjijSl10In this episode, Kevin Appleby hosts GrowCFO Mentor Lee‑Wen Chan to explore the confidence blueprint every new CFO needs. Drawing on a 40-year trans-Pacific career spanning Deloitte Taiwan, FedEx, and ultimately a history-making CFO appointment at NTT Communications, Lee‑Wen distills how new finance leaders can build durable confidence, overcome imposter syndrome, and translate financials into business impact. Her story threads together cultural dexterity, executive coaching, and practical leadership habits that help CFOs step into influence quickly and credibly.
The conversation focuses on how confidence is learned and operationalized: knowing one’s strengths, confronting low-confidence areas, and using clear business language that resonates across functions. Lee‑Wen shares how executive coaching refined both her capability to operate as a CFO and her ability to communicate as one—offering pragmatic guidance for newly appointed CFOs who must move from technical mastery to strategic partnership, change leadership, and people empowerment.
Key topics covered:* A first-principles confidence blueprint: “be comfortable in your own skin,” know your strengths, and deliberately shore up low-confidence areas to maximize influence. * Confronting imposter syndrome with structure: targeted executive coaching for “being a CFO” and “communicating as a CFO.” * Translating finance into business action: simple narratives that resonate (e.g., “$1 cost saving equals $4 of sales to hit the same bottom line”). * Cultural agility as a leadership multiplier: thriving across Taiwanese, American, and Japanese corporate contexts; first non‑Japanese CFO at NTT. * Strategic impact through proximity to the business: learning sales/engineering to make financial data genuinely useful and forward-looking. * Change leadership at scale: FedEx supply chain expansion to 20+ countries; building regional hubs and accelerating learning under pressure.
Links* Lee-Wen Chen on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 0:03:29 From master’s graduate to CFO: mentors, adaptation, and the stepwise journey to the first non‑Japanese CFO at NTT. * 0:07:37 Lessons from Japanese leadership: zooming out to strategy, zooming in to detail, and reading between the lines. * 0:12:17 The confidence blueprint: self-respect, truth-telling, leveraging strengths to counter low-confidence areas. * 0:13:56 Tackling imposter syndrome: why new CFOs struggle and how executive coaching accelerates confidence. * 0:17:01 Making finance useful: business-first framing (the “$1 saves equals $4 sales” clarity test). * 0:18:42 Strategy via business partnership: learning sales/engineering to turn numbers into decisions. * 0:19:55 Change leadership case: FedEx global supply chain expansion and accelerated capability building.
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=hj4Io4us81khttps://open.spotify.com/episode/5qgEZZxdGgOTL9SqbWsxIHStepping into the CFO seat concentrates pressure, confidentiality, and ambiguity—often without a true peer group. In this episode, GrowCFO Mentor Andrew Tapson joins host Kevin Appleby to unpack why first-time CFOs experience isolation and how to build the scaffolding that restores clarity and confidence. Tapson explains how the role’s breadth, the need to “translate” across functions, and the lack of consequence-free spaces to test thinking create a unique loneliness—one that mentoring, selective networks, and practical operating rhythms can directly solve.
Tapson blends four decades of finance leadership with a mentor’s mindset: create safe space, build a relevant network, and develop emotional intelligence to navigate complexity. He shares real-world practices to replace isolation with support—designing a personal advisory circle, investing in relationships that open doors, and delegating to protect strategic attention. The result is a pragmatic playbook for new CFOs to gain momentum, credibility, and durable resilience in their first 90–180 days.
Key topics covered:* Why new CFOs feel isolated: pressure, confidentiality, breadth of remit, and no safe sounding board * Mentoring vs. coaching: creating a consequence-free space to talk through mistakes and options * Build a selective, relevant network that opens doors and accelerates problem-solving * Emotional intelligence and “translating the room” as core CFO capabilities * Delegation and focus: moving from detail to enterprise-level decisions * First steps: set up advisory rhythms, stakeholder access, and early-win narratives
Links* Andrew Tapson on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 03:52 Mentoring vs. coaching; creating a safe space for new CFOs * 06:37 From cost-cutting to growth levers; solving problems with lateral thinking * 11:15 Designing a selective, useful network for support and access * 23:12 Emotional intelligence and staying relevant amid rapid change * 28:30 Delegation, scope shift, and protecting strategic attention * 33:2 The future of CFO mentoring and structured support systems
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=r6TdUunLaskhttps://open.spotify.com/episode/0a1JMPvXGUGhD6A8gC7E8mInfluence is earned long before numbers hit the board pack. In this episode, Catherine Clark, GrowCFO Mentor, reframes influence as the practical outcome of deliberate connection. She and host Kevin Appleby unpack how remote and hybrid work have thinned everyday rapport, making it harder for finance leaders to shape decisions, mobilize teams, and retain talent. Their premise is simple: influence compounds when CFOs intentionally build trust, recognition, and emotionally intelligent dialogue across stakeholders.
Catherine offers a playbook for finance leaders to operationalize connection: stakeholder mapping early and often, creating unstructured time for human conversation, signaling appreciation consistently, and showing up with presence—even through a screen. The episode highlights how small, repeated behaviors (gratitude, active listening, regular check-ins) turn into strategic leverage: faster alignment, better decision inclusion, higher engagement, and materially improved performance environments for finance teams and their partners.
Key topics covered:* Why remote/hybrid erodes spontaneous trust, and how CFOs can rebuild it with intentional routines * Stakeholder mapping and early relationship-building as core influence mechanics, not “nice to haves * Recognition and gratitude as low-cost, high-impact leadership signals that boost engagement and retention * Emotional connection and presence (active listening, curiosity) driving performance and decision quality * Practical cadence: unstructured touchpoints, pre-alignment conversations, and regular reconnection rituals * Cultivating a culture of connection—small, repeatable behaviors that scale influence across the organization
Links* Catherine Clark on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 04:14 Remote/hybrid realities: the connection gap and its impact on leadership/retention * 12:00 Relationship strategy: stakeholder mapping and early outreach to accelerate trust * 27:42 Recognition and gratitude as influence multipliers * 35:31 Emotional connection, interference removal, and performance outcomes * 44:48 Building an organizational culture of connection and shared values * 46:37 Final actions: small, consistent behaviors that compound into influence
Want to go deeper?Catherine Clark isn’t just a podcast guest — she’s GrowCFO’s Lead CFO Mentor and one of our most in-demand mentors, consistently rated highly for her ability to help first-time CFOs build confidence, influence, and strategic presence.
👉 Learn more about Catherine and her mentoring approach
https://www.growcfo.net/mentors/catherine-clark/
If you’re stepping into your first CFO role — or preparing for one — Catherine also leads the GrowCFO CFO Program, a 12-month development journey designed specifically for first-time CFOs who want to:
- Strengthen executive presence and board-level influence
- Build confidence in high-stakes decision-making
- Shift from technical excellence to strategic leadership
👉 Explore the CFO Program
https://www.growcfo.net/cfo-program/
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=ZQXCNMM0zwshttps://open.spotify.com/episode/3XGL5Kr61RdspPniU8FD0BThe transition to a CFO role is one of the most demanding steps in a finance leader’s career. Many newly appointed CFOs face overwhelming challenges, from building board relationships to reshaping organizational strategy, often leading to missteps and a sense of isolation. Recognizing these hurdles, this episode underscores the need for experienced guidance in the early days of CFO leadership.
Jeremy Earnshaw, Executive Coach & Mentor at Clarendon, brings decades of executive finance expertise to the discussion. Through a practical and insightful conversation, Jeremy and host Kevin Appleby explore how tailored mentoring equips new CFOs with tools, confidence, and the emotional intelligence necessary to succeed. Their dialogue highlights real-world stories, actionable tactics, and the transformational impact of mentorship on both performance and well-being in the CFO suite.
Key topics covered:* Challenges and pitfalls commonly faced by new CFOs * Importance of mentorship and coaching for new finance leaders * Real-life scenarios where mentoring influenced CFO performance * Key competencies new CFOs need, and how mentoring builds them * The long-term benefits of investing in leadership development
Links* Jeremy Earnshaw on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 01:00 Introduction and importance of mentoring for CFOs * 07:30 Top struggles for newly appointed CFOs * 15:00 Jeremy Earnshaw’s mentoring philosophy and approach * 24:10 Success stories: CFO transformations through mentoring * 32:00 Actionable advice for organizations and aspiring CFOs
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=7pQsPAurZ5Ehttps://open.spotify.com/episode/56xLS3vYYYDi3bsssHeBfqUnderstanding how to leverage artificial intelligence (AI) for rapid returns has become essential for today’s finance leaders. While many organizations invest in AI, few manage to achieve tangible value quickly. This episode tackles a critical strategic challenge: how CFOs and finance teams can deliver measurable ROI from AI initiatives within just 30 days—a key success factor for staying competitive, agile, and efficient in a fast-changing market.
Kevin Appleby speaks with Dan Fletcher, CFO of Planful, to uncover the often-overlooked strategies that accelerate AI’s impact in finance. Their conversation explores the evolving landscape of finance technology, upcoming consolidation trends in the CFO tech stack, and practical steps for achieving quick AI wins. Dan also shares insights on how early, effective adoption of AI empowers finance leaders to move their teams from manual processes to strategic, insight-driven advisory roles—positioning finance as a true business partner for the future.
Key topics covered:* Mindset change is the hardest aspect of finance digital transformation * Accurate, clean data is critical for successful AI adoption and savings * AI enables finance teams to spend less time crunching numbers, more time adding value * Savings are real when AI is applied to transactional and repetitive processes * AI leads to more frequent, adaptive forecasting and better business partnering * Boardroom strategy discussions increasingly focus on AI-driven transformation
Links* Dan Fletcher on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 18:47 Future trends and generative AI’s impact on finance transformation * 26:46 Real-world adoption stories, efficiency gains, and lessons for fast implementation * 29:21 Step-by-step advice for CFOs on launching high-impact AI projects * 34:51 Preparing finance teams for new job roles and skills in an AI-driven environment * 38:26 Forecasting the biggest finance leadership challenges on the horizon
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=eGwhmpyXA-Uhttps://open.spotify.com/episode/2Lv2wr2B8h40VtL9K2oWH9As AI transforms the business landscape, finance leaders are seeking practical examples of true value creation—not just hype. In this episode, Marco Torrente, Interim Group CFO at Bakuun Holdings, joins host Kevin Appleby to share real financial transformation lessons from the front lines. Marco’s candid reflections move beyond generic AI discussions to pinpoint what actually saves money, emphasizing the importance of getting digital transformation right and building team mindsets that embrace technology.
The conversation explores the practicalities of starting the AI journey, including improving transactional systems and data quality, as well as how AI enables FP&A teams to shift from data crunching to value-adding activities. Marco further reveals that while AI projects haven’t yet drastically reduced headcount, they empower teams to deliver faster, more adaptive business forecasts and partner more effectively with the business. Listeners gain actionable insights on risk analysis, business partnering, and future-proofing the finance function in an era of rapid technological change.
Key topics covered:* Mindset change is the hardest aspect of finance digital transformation * Accurate, clean data is critical for successful AI adoption and savings * AI enables finance teams to spend less time crunching numbers, more time adding value * Savings are real when AI is applied to transactional and repetitive processes * AI leads to more frequent, adaptive forecasting and better business partnering * Boardroom strategy discussions increasingly focus on AI-driven transformation
Links* Marco Torrente on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 03:57 Overcoming mindset challenges in tech and finance teams * 07:45 How clean data and smart choices spark successful AI projects * 14:48 Impact of AI on workflows—shifting FP&A from data crunching to insights * 18:16 Balancing business strategy with transformation and risk * 26:15 Real savings and workforce impact: redeployment not just reduction * 30:04 Future plans, ongoing learning, and actionable advice
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=qZ4_Fr3a07Yhttps://open.spotify.com/episode/1FpRXhcwICZELr5lwHBodVIn this episode, host Kevin Appleby speaks with Andrea Hecht, Chief Financial Officer at CSAA Insurance Group, to explore the realities of leading finance within a member-owned insurance organisation. The conversation traces Andrea’s professional evolution—from a Midwest-based controller with a public-accounting background to a strategic CFO steering one of the nation’s major property and casualty insurers.
Andrea shares how transitioning from controller to CFO required developing a deep strategic lens, embracing enterprise-wide business partnering, and cultivating confidence to challenge executive consensus. She also discusses the complexities of the insurance sector—from pricing uncertainty and catastrophe risk to regulatory constraints—and how technology, data, and AI are reshaping financial planning and claims management. Her story offers a practical playbook for finance leaders ready to elevate their impact beyond accounting into organisational leadership.
Key topics covered:* Andrea’s career journey from EY auditor in Ohio to CFO of CSAA Insurance Group in California. * Why the CFO role demands strategic thinking that connects company vision with financial planning and resource allocation. * The unique financial challenges of the insurance industry—pricing risk without knowing true costs for years, managing reinsurance markets, and handling catastrophe losses. * How membership ownership changes financial priorities versus shareholder-driven models, placing policyholders at the centre. * The importance of financial education and business partnering to build trust across departments and improve decision quality. * How AI and automation are transforming finance, forecasting, and claims—bringing speed, empathy, and new skill-building challenges for future talent.
Links* Andrea Hecht on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 00:28 Andrea’s background and move from Ohio to California * 03:30 Inside CSAA Insurance Group: business model and coverage areas * 05:00 Challenges of pricing insurance and managing capital risk * 12:40 Transition from controller to CFO—learning to think strategically * 16:10 Building finance partnerships and educating the organisation * 18:10 Balancing collaboration and contrarian thinking with the CEO * 25:00 Forecasting amid inflation and market volatility * 27:35 How AI and generative tools are redefining productivity * 34:00 Future of work, training paths, and ethical concerns in AI adoption * 36:35 What CFOs should know about the changing insurance landscape
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=FyOBP_QcsLIhttps://open.spotify.com/episode/3CrRco4GBJsnDQYaJSiPnTIn this insightful episode, Kevin Appleby sits down with Michael O’Reilly, a seasoned executive coach and former CFO with a diverse career spanning global finance, digital transformation, and leadership development. Together, they explore “The Three Hidden Traps That Stall New CFOs” — a candid discussion about the unseen challenges finance leaders face as they transition into enterprise leadership roles.
Michael shares his own experiences across companies like Citibank, Gap Inc., and PepsiCo, highlighting how curiosity, empowerment, and trust play crucial roles in a CFO’s success. He also explains how imposter syndrome, reluctance to delegate, and overreliance on technical mastery can prevent new CFOs from thriving in their roles. With AI reshaping the finance landscape, Michael emphasises the growing importance of emotional intelligence, adaptability, and creating psychological safety for teams navigating disruption.
The conversation goes beyond professional growth, touching on personal fulfilment and energy management — understanding what “charges or drains your batteries” as a leader. Drawing from his coaching practice and experiential leadership retreats in Ireland, Michael reveals how rediscovering purpose and flow can reignite a CFO’s impact, both in business and in life.
Key topics covered:* How imposter syndrome can fuel curiosity and growth rather than paralysis * Why delegating and letting go is the biggest unlock for new CFOs * The importance of psychological safety in driving innovation and AI adoption * Transitioning from technical expert to strategic enterprise leader * Understanding personal “energy management” to avoid burnout * The power of trust, empathy, and soft skills in effective CFO leadership
Links* Michael O’Reilly on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 00:40 Michael O’Reilly’s career journey from CPA to Chief Digital Officer * 05:52 The role of imposter syndrome in a CFO’s development * 07:52 How AI amplifies insecurity and why creating safe environments matters * 10:07 Balancing accuracy with experimentation in finance leadership * 16:46 What a mentoring relationship looks like with Michael * 21:21 The critical need to delegate and empower teams * 22:33 Michael’s experiential leadership program in Ireland * 30:31 Finding your “flow state” and energizers outside of work * 34:20 What kind of leaders benefit most from mentoring * 36:16 The “ski story” — how aligning passion with leadership drives performance
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=mg1knQ7TQ_EArtificial Intelligence continues to dominate finance discussions, but for many CFOs, the real challenge isn’t understanding the technology—it’s knowing where to start. In this episode, host Kevin Appleby welcomes back Hannah Munro, Managing Director of ITAS Solutions and host of the CFO 4.0 Podcast, to unpack the hype surrounding AI and offer clear, practical steps for finance leaders ready to take action.
Hannah shares first-hand insights from her work helping finance teams implement technology-driven transformations, explaining why success depends less on the AI tools themselves and more on simplifying processes, standardizing data, and fostering cultural change. The conversation draws a clear distinction between technology implementation and true transformation—and why CFOs must master both to realise measurable ROI from new systems.
As AI continues to evolve at an unprecedented pace, Hannah and Kevin explore how finance leaders can stay agile, focus on data quality, and ensure their organizations are prepared for the next generation of AI-enabled finance. From managing expectations to defining tangible outcomes, this episode is an essential listen for CFOs looking to move beyond buzzwords and deliver meaningful digital transformation.
Key topics covered:* The difference between AI-enabled tools and building AI from scratch—and why most finance teams are already using AI without realising it. * Why the biggest implementation risks aren’t technical but cultural and process-related. * How to distinguish transformation from implementation—and why most projects should involve both. * The importance of defining measurable outcomes before investing in technology. * Why simplification, standardisation, and clean data are the foundations for any successful AI adoption. * How CFOs can future-proof their finance function by focusing on integration, agility, and benefit-driven technology selection.
Links* Hannah Munro on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 01:00 Why AI isn’t new—and how finance teams are already using it unknowingly * 03:25 Implementation vs. transformation: the fundamental question every CFO must ask * 07:30 Why traditional RFP processes often fail in fast-changing tech environments * 10:45 The hidden cost of customisation and how to challenge unnecessary complexity * 16:15 Measuring the true value and ROI of finance technology projects * 19:20 Why every tech implementation should also be a transformation initiative * 27:20 Using psychology and “nudging” principles to drive behavioural change in transformation * 33:30 Preparing for AI: simplify processes, integrate systems, and clean your data * 38:40 The limits of AI: understanding data quality, context, and validation * 44:30 Looking ahead—how AI, automation, and integration will redefine the finance function
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=xOotp0bZAdUhttps://open.spotify.com/episode/3CrRco4GBJsnDQYaJSiPnTIn today’s rapidly evolving business environment, the transition from CFO to CEO is a journey that demands more than technical expertise—it requires a profound shift in mindset, leadership style, and strategic vision. In this episode, Dave Osh, a seasoned CFO, CEO, and mentor, joins host Kevin Appleby to share his unique path from fighter pilot to corporate leader, and the critical lessons learned along the way. The episode opens by underscoring the importance of leadership agility and the ability to adapt to new domains, stakeholder dynamics, and the ever-changing demands of the C-suite.
Dave Osh discusses the challenges CFOs face when stepping into broader leadership roles, emphasizing the need for executive presence, effective communication, and a deep understanding of both business strategy and human psychology. He introduces his “CFO aura” framework—openness, unattached perspective, resonance, and authenticity—as essential qualities for finance leaders aspiring to become strategic collaborators and inspirational CEOs. Drawing from his books and real-world experiences, Dave provides actionable insights for finance professionals seeking to unlock their leadership potential and drive meaningful change within their organizations.
Key topics covered:* The journey from CFO to CEO requires a shift from technical mastery to strategic leadership * Executive presence and effective communication are critical for C-suite success * The “CFO aura” framework: openness, unattached perspective, resonance, authenticity * Navigating stakeholder relationships and organizational politics is essential * Continuous learning and personal development underpin leadership growth * Playfulness and joy can empower leaders and foster a positive work culture
Links* Dave Osh on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 0:02:07 Dave Osh’s unique journey from fighter pilot to CFO and CEO * 0:05:29 Challenges and learning curves in becoming a CFO * 0:10:43 Developing executive presence and the “CFO aura” framework * 0:15:28 Practical advice for CFOs to avoid being seen as a naysayer * 0:20:04 Transition from CFO to CEO and lessons on leadership philosophy * 0:30:15 Dave’s books and frameworks for leadership development * 0:38:35 The role of playfulness and joy in effective leadership
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=H4pb1S_bdgEhttps://open.spotify.com/episode/4QIAi3e2eHEp57xjU474IHIn today’s competitive financial services landscape, simply offering “fractional CFO” services is no longer enough to stand out or win business. In this episode, James Donovan, Founder of Nine Two Media, joins host Kevin Appleby to challenge the conventional approach to selling CFO services. The conversation opens by emphasizing that business owners rarely seek out a “fractional CFO” by name; instead, they are looking for solutions to pressing problems—especially those that keep them up at night, like cash flow and financial clarity.
Donovan shares insights from his experience helping accounting firms and CFOs shift their marketing from generic service offerings to problem-solving, value-driven messaging. He explains why focusing on the client’s pain points, leveraging digital marketing channels like LinkedIn and Facebook, and building authority through content and podcasting are essential for growth. The episode offers actionable strategies for finance professionals to reposition themselves as indispensable advisors, not just another service provider.
Key topics covered:* Business owners buy solutions to problems, not “fractional CFO” services * Effective marketing focuses on client pain points, not credentials or titles * LinkedIn and Facebook are key channels for building authority and generating leads * Relying solely on referrals is not a sustainable marketing strategy * Podcasting and content creation help establish credibility and reach new audiences * Case studies and client success stories are powerful tools for differentiation
Links* James Donovan on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 0:05:00 Trends in the fractional CFO market and the shift toward advisory roles * 0:07:55 Why selling “fractional CFO” services misses the mark—focus on solving business problems * 0:11:16 Digital marketing strategies: LinkedIn and Facebook for lead generation * 0:17:15 The role of websites and content in attracting clients * 0:22:07 The need for proactive marketing and moving beyond referrals * 0:24:03 Podcasting as a tool for authority and business development
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=AYLpc5IwiOUhttps://open.spotify.com/episode/6IMVXCScEJEc6NiajXTBWmIn the ever-changing world of finance, resilience and determination have become indispensable qualities for modern CFOs. In this episode of the GrowCFO Podcast, Kevin Appleby speaks with Ademola Odewade, CEO of K-Dems Consulting Limited and host of the Diary of a CFO Podcast. Together, they explore why hard work consistently outperforms raw talent in the journey to leadership. The discussion highlights the critical role of perseverance, adaptability, and a growth mindset for finance professionals navigating complex business environments.
Ademola shares his inspiring path from Nigeria to the UK, illustrating how overcoming adversity, embracing continuous learning, and leveraging effective communication have shaped his success. Through candid stories and practical advice, he and Kevin discuss the expanding responsibilities of CFOs, the necessity of self-belief, and the power of taking ownership. This episode offers actionable lessons for finance leaders, demonstrating that resilience and relentless effort are the true drivers of sustainable achievement in today’s demanding corporate landscape.For further support, explore our BetterHelp partner link.
Key topics covered:* The importance of rational, well-supported business valuations for CFOs * Common mistakes founders and finance teams make in the valuation process * Why valuations are often driven by optics rather than true economic value * The impact of market cycles and AI hype on company valuations * The critical role of management quality and organized financials in achieving accurate valuations * Actionable tips for CFOs preparing for a valuation process
Links* Ademola Odewade on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 0:04:22 Introduction of Dan Eyman and the importance of business valuation * 0:05:17 Dan Eyman’s background and entry into the valuation field * 0:09:00 Common mistakes in valuation and the need for early CFO involvement * 0:13:51 Why valuations can be “smoke and mirrors” and the reality behind headline numbers * 0:18:41 The impact of AI and market cycles on valuation trends * 0:39:07 The role of management quality and organized financials in valuation * 0:45:13 Practical tips for CFOs preparing for a valuation * 0:51:09 Final advice for businesses: be rational, organized, and build a compelling valuation story
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=AoM5IDJs7aQ&t=4shttps://open.spotify.com/episode/3dt6y0dCZCf7tqpUikFKIzBusiness valuation is a critical responsibility for CFOs, especially as companies navigate funding rounds, acquisitions, or exits. In this episode, Dan Eyman, Managing Director of Meld Valuation, joins host Kevin Appleby to demystify the process and underscore why understanding true business value is essential for financial leaders. The conversation opens by highlighting the importance of rational, well-supported valuations and the pivotal role CFOs play in ensuring financial organization and transparency.
Eyman shares his journey from cell biology to valuation expert, offering practical insights into the common pitfalls founders and finance teams encounter. He explains why valuations can often be “smoke and mirrors,” driven by optics rather than economic reality, and stresses the need for CFOs to be proactive, organized, and realistic. The discussion also explores the impact of market cycles, the influence of AI on valuations, and the necessity of qualitative judgment alongside quantitative analysis. Throughout, Eyman provides actionable advice for CFOs preparing for valuation, emphasizing the value of a strong finance function and a compelling narrative to support the numbers.
About Dan EymanDan Eyman is the Managing Director of Meld Valuation, a firm specializing in independent, audit-ready valuations for venture-backed startups and venture capital firms. With over two decades of experience in valuation and financial advisory, Dan has worked with early- and growth-stage companies across a range of industries, guiding them through complex financial decisions related to fundraising, equity compensation, and M&A. He is known for his expertise in the valuation of complex instruments such as convertible debt and SAFEs, as well as 409A valuations and ASC 820 fair value measurements. Dan’s commitment to delivering clear, defensible valuations has made him a trusted partner to founders, CFOs, and investors. Through Meld Valuation, he continues to support the startup ecosystem by offering insight-driven services that help companies, venture firms, and their stakeholders make informed financial decisions with confidence.
Key topics covered:* The importance of rational, well-supported business valuations for CFOs * Common mistakes founders and finance teams make in the valuation process * Why valuations are often driven by optics rather than true economic value * The impact of market cycles and AI hype on company valuations * The critical role of management quality and organized financials in achieving accurate valuations * Actionable tips for CFOs preparing for a valuation process
Links* Dan Eyman on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 0:04:22 Introduction of Dan Eyman and the importance of business valuation * 0:05:17 Dan Eyman’s background and entry into the valuation field * 0:09:00 Common mistakes in valuation and the need for early CFO involvement * 0:13:51 Why valuations can be “smoke and mirrors” and the reality behind headline numbers * 0:18:41 The impact of AI and market cycles on valuation trends * 0:39:07 The role of management quality and organized financials in valuation * 0:45:13 Practical tips for CFOs preparing for a valuation * 0:51:09 Final advice for businesses: be rational, organized, and build a compelling valuation story
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=JUqhoJnH0oIhttps://open.spotify.com/episode/6n4Tb6ZkiJAoioEIQCC48pIn this episode, Georgia Wilson, Member of GrowCFO and Former Group CFO at Together Group, shares her remarkable journey from Grenada to the helm of a high-growth business. The episode underscores the critical importance of building a robust finance function from the ground up, especially in a fast-scaling environment. Georgia’s story is one of resilience, adaptability, and the power of mentorship. She details how her diverse background, from Big Four audit to industry roles at Shell and Centrica, equipped her to lead Together Group’s finance team through rapid expansion and multiple acquisitions.
Georgia emphasizes that scaling a finance function is not just about technical expertise, but also about fostering a strong team, leveraging external support, and embracing diversity in leadership. Her experience highlights the value of corporate sponsorship, continuous learning, and the courage to step outside one’s comfort zone. The episode offers practical insights for finance professionals aiming to drive growth, manage complexity, and build high-performing teams in dynamic business environments.
Key topics covered:* Built a finance team from 3 to over 10 people while scaling revenue from zero to £100M * Leveraged mentorship, coaching, and corporate sponsorship to accelerate her CFO journey * Emphasized the importance of diversity and resilience in leadership roles * Successfully navigated multiple industry and cultural transitions * Managed rapid acquisitions and integration of 13 brands across global markets * Advocated for continuous learning and empowering future finance leaders
Links* Georgia Wilson on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 0:19:08 Georgia’s move from Grenada to the UK and her early career at Deloitte * 0:22:44 The pivotal role of mentorship and coaching in her CFO journey * 0:34:56 Transitioning to Together Group as first-time CFO in a startup environment * 0:44:49 Building and scaling the finance team to support rapid growth * 0:48:49 The impact of external support and GrowCFO’s programs on her success * 0:53:02 Developing future finance leaders and fostering team growth
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=qL4WLMpEejIhttps://open.spotify.com/episode/5o6eC1cVuEOy3ebPDmOb0tThe transition between nonprofit and corporate finance is a pivotal topic for CFOs, as each sector presents unique challenges and opportunities. In this episode, Baz Bedrossian—Interim CFO, COO, and Business Consultant—draws on his extensive experience in both worlds to illuminate the similarities and differences. Bedrossian emphasizes that while the core financial principles remain consistent, nonprofit roles demand heightened attention to compliance, regulation, and the management of restricted funds. He also highlights the importance of adaptability, as nonprofit CFOs often engage more directly in fundraising and grant management, requiring a broader skill set.
Bedrossian’s insights reveal that, despite the sectoral differences, the fundamentals of cash flow management, stakeholder communication, and strategic leadership are universal. However, nonprofit CFOs must navigate more complex reporting requirements, manage multiple boards and committees, and ensure that funds are used in accordance with donor restrictions. For finance professionals considering a move between sectors, Bedrossian’s experience offers practical guidance on building sustainable financial models and maintaining operational excellence in any environment.
Key topics covered:* Compliance and regulation are more stringent in nonprofit organizations * Managing restricted funds and detailed grant reporting is critical * Cash flow management is challenging due to irregular funding sources * Nonprofit CFOs often participate directly in fundraising and grant applications * Non-financial KPIs and stakeholder management are more prominent in nonprofits * Core financial principles and leadership skills remain consistent across sectors
Links* Baz Bedrossian on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 0:16:37 Key differences between nonprofit and corporate finance roles * 0:18:50 The CFO’s involvement in fundraising and grant management * 0:20:23 Managing restricted funds and compliance in nonprofit organizations * 0:24:48 Reporting on non-financial KPIs and statutory requirements * 0:29:06 Cash flow management strategies for nonprofits * 0:31:28 Tips for new nonprofit CFOs on building sustainable financial models
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=sFaDrJtO-KAhttps://open.spotify.com/episode/1vlmYVdDXfeKlkeuBrnaY7The transition into a CFO role is one of the most significant steps in a finance leader’s career, bringing both opportunity and challenge. In this episode, Warren Wise—GrowCFO Mentor and Fractional CFO—shares his journey from a 22-year tenure at a manufacturing company to his current role supporting multiple organizations. Wise’s experience highlights the importance of adaptability, staff support, and the ability to manage new responsibilities beyond traditional finance functions.
Wise discusses the mindset shift required to move from a detail-oriented finance role to a strategic leadership position, emphasizing the need to trust and empower staff. He also addresses the common struggles of imposter syndrome and task overwhelm, offering practical advice for new CFOs to build confidence and maintain work-life balance. His insights are invaluable for finance professionals stepping into the CFO role, as well as for organizations seeking to support their finance leaders through this critical transition.
Key topics covered:* The importance of staff support and trusting your team as a new CFO * Overcoming imposter syndrome and building confidence in a leadership role * Managing task overwhelm and learning to delegate effectively * Adapting to new responsibilities beyond finance, including HR and operations * Gaining value from diverse industry exposure as a fractional CFO * Achieving work-life balance and flexibility in modern CFO roles
Links* Warren Wise on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 0:00:59 Wise describes his initial hesitation and transition to a fractional CFO role * 0:04:00 Insights from 22 years in manufacturing and progression to CFO * 0:10:30 The mindset shift from detail-oriented finance to strategic leadership * 0:12:12 Advice for new CFOs: staff support and trusting your team * 0:14:39 Wise’s experience with imposter syndrome and building confidence * 0:17:13 The value of mentoring and supporting new CFOs through challenges
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=02hn26-tQBkhttps://open.spotify.com/episode/0tBDVuXoypTamhrWnvXBj8In today’s complex business environment, CFOs are expected to deliver strong results while also maintaining the legitimacy and trust of their organizations. Paul Achleitner, former Deutsche Bank Chair and Goldman Sachs Partner, shares his unique perspective on the evolving demands of financial leadership. Achleitner emphasizes that while performance metrics remain crucial, the legitimacy dimension—how stakeholders perceive the organization’s actions and values—has become equally vital in an era of transparency and social media scrutiny.
Drawing from decades of boardroom experience, Achleitner discusses the risks of relying solely on past experience, the importance of judgment in a rapidly changing world, and the need for CFOs to manage both their own egos and those of their teams. He highlights the dangers of both underperformance and unsustainable overperformance, urging leaders to continuously evaluate whether they are truly adding value. Achleitner’s insights offer CFOs practical guidance on navigating the balance between delivering results and sustaining legitimacy, ensuring long-term organizational success in a world where both are under constant public review.
Key topics covered:* The critical need for CFOs to balance performance with legitimacy in leadership * Why obsolete experience can hinder effective decision-making in today’s fast-changing environment * The growing importance of judgment and self-evaluation for finance leaders * Managing egos and fostering authentic, team-based leadership structures * The risks of both underperformance and unsustainable overperformance * The evolving role of the CFO as a “chief value officer” focused on long-term impact
Links* Paul Achleitner on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 0:05:50 Achleitner introduces the “performance” and “legitimacy” dimensions of leadership * 0:10:59 Discussion on the dangers of obsolete experience and the need for accelerated learning * 0:13:43 Advice for managing change and the inevitability of unintended consequences * 0:15:28 The importance of controlling egos and building strong leadership structures * 0:20:18 Addressing imposter syndrome and the power of convincing narratives * 0:29:07 The illusion of satisfactory underperformance and the need for continuous improvement * 0:30:33 The deception of sustainable overperformance and the importance of balance * 0:33:24 The CFO’s evolving role as a chief value officer and the importance of legitimacy
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=JWB_AMZQZ4Mhttps://open.spotify.com/episode/0P8V9z07yLiLffCgKowZxMIn today’s rapidly evolving business landscape, the integration of technology talent into finance teams is no longer a luxury but a necessity. This episode explores how leveraging technical expertise can drive operational efficiency, foster innovation, and future-proof financial operations. Jay Majeske, Founder of Stalliant, brings a wealth of experience to the discussion, sharing insights on how full-stack developers and data-driven approaches are transforming the traditional finance function.
Majeske highlights the inefficiencies of conventional CFO models and introduces a forward-thinking strategy that combines technical and financial acumen. By training developers in accounting principles and embedding them within finance teams, organizations can unlock new levels of automation, data modeling, and process optimization. The conversation underscores the importance of cultural change, continuous learning, and the adoption of best practices to ensure finance teams remain agile and competitive in the face of technological disruption.
Key topics covered:* The evolving role of CFOs and the need for technical skills in finance * How full-stack developers trained in accounting can drive efficiency * The impact of automation and data models on financial operations * The importance of cultural change and continuous learning in finance teams * Predictions for the future of FinTech and process-oriented software * Bespoke solutions for lower middle-market clients to address unique challenges
Links* Tinashe Chigede on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 0:02:57 Introduction of Jay Majeske and his background in fractional CFO work * 0:05:07 The game-changing impact of hiring full-stack developers for finance * 0:09:37 Embedding tech talent in FP&A and governance roles * 0:16:51 The enduring relevance of Excel and Power BI in modern finance * 0:22:34 The critical role of culture in successful tech adoption * 0:29:40 FinTech trends: process-oriented software and democratization of technology * 0:33:23 The future of finance jobs: shifting from production to critical thinking and research
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
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246 The Nonprofit CFO Playbook: Strategy, Stewardship, and Scale Tinashe Chigede, Director of Finance and Administration, SOS Children’s Villages USAhttps://youtu.be/ofti6Vpcyko
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In this compelling episode of The GrowCFO Show, Kevin Appleby explores the unique challenges and opportunities facing nonprofit CFOs through an insightful conversation with Tinashe Chigede, Director of Finance and Administration at SOS Children’s Villages USA. The discussion delves into the critical role of financial leadership in nonprofit organizations, where CFOs must balance fiscal responsibility with mission-driven outcomes while navigating complex funding landscapes and donor relationships.
Chigede shares his remarkable personal journey from attending an SOS Children’s Villages primary school in Zimbabwe to becoming a senior finance leader at the same organization that shaped her early life. The conversation reveals how nonprofit CFOs must evolve beyond traditional operational roles to become strategic partners who align financial decisions with long-term mission outcomes, diversify funding streams, and build sustainable financial models that support vulnerable children and families across 130 countries.
The episode provides valuable insights into the nonprofit sector’s financial complexities, including the management of restricted versus unrestricted funds, the importance of fundraising ROI, and the critical need for transparency and accountability in donor stewardship. Chigede’s expertise demonstrates how effective financial leadership in nonprofits requires a unique blend of strategic thinking, mission alignment, and stakeholder relationship management.
Key topics covered:* Strategic Evolution: Transformation from operational finance roles to strategic financial leadership that aligns budgets with mission outcomes and guides organizational risk management * Funding Diversification: Critical importance of developing multiple revenue streams including government funding, individual donors, and foundation grants to ensure organizational sustainability * Donor Stewardship: Building trust through transparency, accountability, and demonstrating tangible results to maintain long-term donor relationships and secure recurring funding * Mission-Financial Integration: Balancing restricted and unrestricted funding while tracking both financial KPIs and mission-driven metrics to measure organizational effectiveness * Personal Impact Leadership: Leveraging personal connection to the organization’s mission to drive authentic leadership and overcome imposter syndrome in senior finance roles * AI and Innovation: Embracing technology and artificial intelligence as powerful tools for financial analysis and strategic communication in the nonprofit sector
Links* Tinashe Chigede on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 0:02:47 Introduction to SOS Children’s Villages USA mission and global impact serving 2.5 million children annually * 0:05:21 Tinashe’s educational background and 15+ years in nonprofit finance, plus personal connection to SOS schools * 0:28:39 Overcoming imposter syndrome and personal growth from beneficiary to organizational leader * 0:06:43 Role evolution from operational focus to strategic financial leadership and board communication * 0:15:00 Funding diversification strategies including government funding and donor relationship management * 0:25:30 Key performance indicators balancing fundraising ROI with mission-driven outcomes
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
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https://www.youtube.com/watch?v=las4ugear3shttps://open.spotify.com/episode/3wOUdF52mYu7TzzdsmlINGIn this episode of The GrowCFO Show, Kevin Appleby engages with Gilles Bonelli, Founder and CEO of SEE THE NEXT MOVE, to explore the practical applications of AI in finance beyond the hype. Gilles, with his extensive background in management consulting and digital transformation, established his startup to help finance leaders implement meaningful AI solutions. The conversation delves into how finance professionals can leverage AI effectively across various roles and processes, with Gilles introducing his company’s 30 role-specific AI finance playbooks designed to guide implementation with the support of AI-trained subject matter experts.
The discussion examines three primary families of AI use cases in finance: personal and team productivity enhancements, entirely new capabilities enabled by AI, and process optimization. Gilles emphasizes the importance of clean data for successful AI implementation, particularly in areas like forecasting, and advocates for a structured approach that considers both process and technology. The episode also addresses persistent challenges in finance transformation that have remained largely unchanged for 25 years, questioning whether AI truly offers solutions to longstanding issues like faster month-end closing and improved forecasting.
Key topics covered:* Gilles Bonelli’s startup SEE THE NEXT MOVE cuts through AI hype by leveraging a 700-strong network of professionals to identify genuine use cases for finance functions * AI applications in finance fall into three categories: productivity enhancement, enabling new capabilities, and process optimization * Clean data is essential for successful AI implementation, particularly for advanced applications like forecasting * AI is transforming traditional finance roles, creating opportunities for more strategic business partnering and sustainability focus * Despite technological advances, many finance teams still struggle with the same challenges from 25 years ago, including month-end closing and forecasting
Links* Gilles Bonelli on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 0:09:48 Gilles introduces his startup SEE THE NEXT MOVE and its mission to cut through AI hype in finance * 0:11:17 Explanation of how the company leverages its professional network to identify real AI use cases * 0:38:26 Discussion on whether AI can solve longstanding finance challenges like faster month-end closing
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
FacebookTwitterLinkedInWhatsAppEmail#244 The Strategic CFO in the Nonprofit World Olaide Olunloyo, Head of Finance, Jesus Househttps://youtu.be/kn0jJKKF6Co Your browser does not support the audio element.In episode 244 of The GrowCFO Show, Kevin Appleby interviews Olaide Olunloyo, Head of Finance, Jesus House, about the strategic role of CFOs in nonprofit organizations. Olaide shares her extensive experience as the head of finance at Jesus House and its sister charity, Festival of Life, providing valuable insights into the unique challenges and opportunities facing finance leaders in the nonprofit sector.Throughout the conversation, Olaide emphasizes the importance of purpose-driven leadership in nonprofit finance, highlighting how transparency, strategic thinking, and stakeholder engagement are crucial for success. She discusses the evolution of her role from operational tasks to strategic leadership, and how finance professionals in nonprofits must balance traditional financial management with impact measurement and mission fulfillment. Olaide also shares her personal journey, including the establishment of her own foundation, Precious Seeds Foundation, which supports underprivileged children in Africa.Key topics covered:Nonprofit finance leaders must be driven by purpose beyond financial metrics, as the sector requires a commitment to mission that transcends traditional compensation incentivesTransparency and integrity are fundamental to building trust with donors and stakeholders, requiring finance teams to develop systems that clearly track and report on restricted and unrestricted fundsThe role of finance in nonprofits has evolved from purely operational to strategic, with CFOs now actively involved in grant applications, project planning, and measuring impact beyond traditional financial KPIsEffective cash flow management is critical in nonprofits, requiring tight week-to-week planning, contingency strategies, and rolling annual planning cycles to respond to changing needsNonprofit CFOs must “THRIVE” by embracing Transparency, Horizontal thinking, Resilience, Integrity, Values, and Engagement to lead their organizations through uncertainty with courage, clarity, and compassionLinksOlaide Olunloyo on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps10:55 Olaide shares her journey into nonprofit finance and how purpose drives her work despite the different pay scales compared to the corporate sector19:36 Discussion of the complex financial systems required to manage restricted and unrestricted funds in nonprofit organizations30:15 Explanation of how finance teams collaborate with community and fundraising teams on grant applications and project implementation35:40 Insights into measuring project impact beyond traditional financial metrics using pre- and post-project surveys49:09 Olaide discusses balancing her full-time role with running her personal foundation through strategic delegation and focus50:52 Introduction of the “THRIVE” framework for nonprofit finance leaders, emphasizing transparency, horizontal thinking, resilience, integrity, values, and engagementFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
FacebookTwitterLinkedInWhatsAppEmail#243 How To Get Your Team Finance Fit: Why Finance Must Evolve Now with Melanie Coeshott, GrowCFO Facilitatorhttps://youtu.be/kST0q4krSxs Your browser does not support the audio element.In this insightful episode of The GrowCFO Show, host Kevin Appleby welcomes Melanie Coeshott, a GrowCFO Facilitator, to discuss the concept of “Finance Fit” – a framework designed to help finance teams prepare for their next evolutionary chapter. Melanie introduces her innovative F-I-T mnemonic, which stands for Future-oriented, Innovative, and Thriving, providing a structured approach for finance professionals to adapt to changing business landscapes.The conversation explores how finance teams can shift from their traditional backward-looking roles to become more proactive, creative partners in business decision-making. Kevin and Melanie discuss the challenges finance professionals face in making this transition, including mindset barriers, change fatigue, and the need for leadership support. They emphasize that becoming “Finance Fit” requires not only technical skill development but also personal growth, relationship building, and finding fulfillment in one’s work.Key topics covered:The “Finance Fit” concept represents a significant mindset shift for finance professionals, requiring them to balance their traditional reporting responsibilities with forward-looking strategic contributionsInnovation in finance doesn’t necessarily mean radical changes but can involve small, incremental improvements that collectively drive significant value for the businessFinance professionals often struggle with “change fatigue” and need permission from leadership to experiment, fail, and learn from their experiencesBuilding strong relationships across the organization is crucial for finance teams to effectively contribute to business transformationPersonal development and job satisfaction are essential components of the “Thriving” element, with tools like StrengthsFinder helping finance professionals identify and leverage their natural talents LinksMelanie Coeshott on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:04:45 Introduction to the “Finance Fit” concept and explanation of the F-I-T mnemonic0:12:30 Discussion of the challenges finance professionals face in becoming more future-oriented0:18:15 Exploration of innovation in finance and overcoming resistance to change0:27:45 The importance of thriving as finance professionals through resilience and relationship building0:35:20 Strategies for improving job satisfaction and playing to strengths in finance roles0:42:32 Next steps for developing and implementing the Finance Fit framework Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net Podcast: Play in new window | DownloadRelated Articles Podcast #247 Why Tech Talent Can Supercharge Your Finance Team Jay Majeske, Founder, Stalliant In today’s rapidly evolving business landscape,
FacebookTwitterLinkedInWhatsAppEmail#242 What Makes a Great CFO Mentor with Jen Burton, Mentor, GrowCFOhttps://youtu.be/xMVa9RiS_pI Your browser does not support the audio element.In this insightful episode of The GrowCFO Show, host Kevin Appleby interviews Jen Burton, a new mentor at GrowCFO and current Chief Financial Officer at RJE Business Interiors based in Indianapolis. Throughout their conversation, Jen shares her extensive experience spanning multiple industries including her significant 14-year tenure at Rolls Royce, where she implemented global finance shared services strategies and led successful system integrations.The discussion explores Jen’s journey from public accounting to various CFO roles, highlighting her operational and strategic expertise. Particularly valuable is Jen’s perspective on mentorship, as she discusses how her diverse experiences – from implementing ERP systems to managing finance transformations – have shaped her approach to guiding other finance professionals. Her unique background, including her skydiving experience, provides powerful metaphors for the trust and teamwork required in effective financial leadership.The conversation explores how finance teams can shift from their traditional backward-looking roles to become more proactive, creative partners in business decision-making. Kevin and Melanie discuss the challenges finance professionals face in making this transition, including mindset barriers, change fatigue, and the need for leadership support. They emphasize that becoming “Finance Fit” requires not only technical skill development but also personal growth, relationship building, and finding fulfillment in one’s work.Key topics covered:Jen identifies primarily as an operational CFO with strong process-driven and team-oriented skills, though she has significant experience in strategic roles and as a trusted advisorDrawing from her experience implementing global finance shared services at Rolls Royce, Jen emphasizes the importance of change management and having the right people in the right rolesJen shares personal insights about overcoming imposter syndrome, offering practical advice for new CFOs on building confidence through breaking tasks into manageable stepsThe discussion explores how Jen’s skydiving experience taught valuable lessons about trust and teamwork that directly apply to financial leadershipKevin highlights the distinction between mentoring and coaching, explaining that mentors bring valuable “war stories” and practical experience rather than just guiding mentees to find their own answersLinksJen Burton on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:11:03 Introduction to Jen Burton as a new GrowCFO mentor and CFO at RJE Business Interiors0:20:00 Discussion of different CFO types and Jen’s identification as primarily an operational CFO0:25:15 Jen shares her skydiving experience and the parallels to teamwork in finance0:30:45 Exploration of Jen’s experience implementing global finance shared services at Rolls Royce0:38:20 Discussion about imposter syndrome and building confidence as a CFO0:46:42 Kevin explains the value of mentorship and the importance of chemistry between mentor and menteeFind out more about GrowCFOPodcast: Play in new window | DownloadGrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net Podcast: Play in new window | DownloadRelated Articles
FacebookTwitterLinkedInWhatsAppEmail#241 Why Risk Management Is Getting Harder with Chris Wright, Managing Director, Protivitihttps://youtu.be/LqF4t5IT0n8 Your browser does not support the audio element.In this episode of The GrowCFO Show, host Kevin Appleby speaks with Chris Wright, Managing Director at Protiviti and leader of their global finance transformation solution. The conversation explores Protiviti’s comprehensive risk survey, highlighting the key risks companies are facing in the current economic climate. Chris provides valuable insights into how CFOs and finance leaders should approach risk acknowledgment, evaluation, and mitigation in the coming year.The discussion covers several critical risk areas, including economic conditions and inflation pressures, labor and talent shortages, cybersecurity concerns, and emerging risks associated with AI implementation. Chris emphasizes the importance of CFOs developing “muscle memory” for frequent re-forecasting due to economic uncertainties, while also highlighting how AI can help address labor shortages by automating mundane tasks and enriching the work experience of finance professionals.Key topics covered:Economic conditions, including inflation pressures, represent the top risk concern for companies, requiring CFOs to develop stronger forecasting capabilitiesLabor shortages in finance are driving increased costs and creating challenges in hiring and retentionAI offers significant benefits for finance functions, including cost savings and improved efficiency in areas like cash application and payablesCybersecurity remains a persistent concern despite improvements in system securityEmerging risks from AI implementation include data quality issues, over-reliance, and potential cybersecurity vulnerabilitiesLinksChris Wright on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:11:15 Chris Wright introduces himself and his role at Protiviti0:25:19 Analysis of economic conditions and inflation as top risks0:34:47 Exploration of labor and talent shortages in finance0:42:13 Examination of AI benefits and implementation in finance functions0:50:39 Discussion of cybersecurity risks and cloud computing challenges0:56:51 Conversation about emerging risks associated with AI implementationFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net Podcast: Play in new window | DownloadRelated Articles Podcast #247 Why Tech Talent Can Supercharge Your Finance Team Jay Majeske, Founder, Stalliant In today’s rapidly evolving business landscape, the integration of technology talent into finance teams is no longer a luxury but... Podcast #246 The Nonprofit CFO Playbook: Strategy, Stewardship, and Scale Tinashe Chigede, Director of Finance and Administration, SOS Children’s Villages USA
https://www.youtube.com/watch?v=Dsa5QZtXo50.entry-img img{display:none !important;}.single .hentry .entry-img{display:none !important;}https://open.spotify.com/episode/2axThM3x9wuvBPGhK9wmzaIn this compelling episode of The GrowCFO Show, Kevin Appleby interviews Melissa Hurrington, CFO and VP of Operations at Premier Claims. The conversation explores the critical challenges and valuable lessons learned during Melissa's seven-year journey scaling Premier Claims from a four-person startup to an organization with over 80 employees and a 44,000 square foot corporate headquarters.The episode delves into Melissa's authentic leadership approach and how she has built a strong personal brand separate from her corporate identity. Melissa shares candid insights about overcoming imposter syndrome, the importance of vulnerability in leadership, and how she has navigated the complexities of rapid organizational growth while maintaining her authentic self. Her experiences provide valuable guidance for finance leaders managing similar growth trajectories and those looking to develop their personal brand alongside their professional role.Key topics covered:Melissa's journey from being employee number four at Premier Claims to leading the company through exponential growth and the acquisition of a large corporate headquartersThe importance of separating personal brand from corporate identity and building a legacy beyond professional titlesHow vulnerability and authenticity on LinkedIn helped Melissa connect with a broader audience and inspire others in the finance communityStrategies for overcoming imposter syndrome and gaining confidence as a leader in high-growth environmentsThe value of peer networks and learning from other CFOs when navigating the challenges of scaling a businessLinksMelissa Hurrington on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:11:43 Melissa introduces herself and Premier Claims, describing the company's growth from a startup with four employees to purchasing a 44,000 square foot corporate headquarters0:31:49 Melissa discusses the importance of building her personal brand separate from her corporate identity and not being defined by her title0:35:20 Discussion about using LinkedIn as a platform for authentic leadership and how vulnerability in posts has resonated with others0:42:15 Melissa shares her experience with imposter syndrome and how she overcame it by connecting with other finance leaders0:48:30 The importance of peer networks for CFOs and how they help combat isolation in leadership positions0:54:13 Melissa reveals her future plans, including writing a book and continuing to grow Premier Claims while developing her leadership teamFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=Xp4amxAIoUM.entry-img img{display:none !important;}.single .hentry .entry-img{display:none !important;}https://open.spotify.com/episode/0Qwxrp77mQV0CvmHThso7CIn this insightful episode of The GrowCFO Show, host Kevin Appleby explores the critical topic of funding fast-growing B2B SaaS startups with Janelle Gorman, CFO at York IE. Securing appropriate funding remains one of the most significant challenges for SaaS founders, particularly in today's fluctuating investment landscape. Understanding the criteria investors use and developing effective fundraising strategies can make the difference between startup success and failure.Janelle Gorman brings her extensive experience as a CFO with high-growth subscription model companies and her current role at York IE, an early-stage investment firm that has deployed $60 million across approximately 60 companies. The conversation provides valuable insights into investment criteria, fundraising strategies, and the importance of product-market fit. Janelle also discusses York IE's unique approach to supporting founders through both investment and services designed to help companies scale effectively.Key topics covered:York IE's dual business model as both an investment firm and service provider for early-stage companiesCritical investment criteria including the importance of the founding team and demonstrating product-market fitEffective fundraising strategies and the challenges of raising capital in the current marketThe Tech Women Invest initiative aimed at increasing female participation in investingPragmatic approaches to growth and resource management for SaaS startupsLinksJanelle Gorman on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:04:24 Introduction to Janelle Gorman and her role as CFO at York IE0:13:15 Explanation of York IE's business model and investment approach0:18:30 Discussion of investment criteria and the importance of the founding team0:22:45 Insights on fundraising strategies and market conditions for 20250:27:38 The importance of speed in implementing solutions and demonstrating value0:33:49 Future outlook for York IE and the investment landscapeFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net
https://youtu.be/wIPL5EncKVg.entry-img img{display:none !important;}.single .hentry .entry-img{display:none !important;}https://open.spotify.com/episode/0pwzX0ujbANt79RKKxEDMDIn this insightful episode of the GrowCFO Show, Kevin Appleby sits down with Richard Nero, a Microsoft Excel MVP and GrowCFO Facilitator who specializes in finance systems consultancy. The conversation explores the critical importance of Excel proficiency and automation for modern finance leaders. As businesses increasingly rely on data-driven decision making, CFOs who fail to embrace these technological tools risk falling behind their more tech-savvy counterparts.Richard Nero brings his extensive experience in Excel, Power BI, and automation to the discussion, sharing how these tools can transform finance operations and create significant efficiencies. The episode provides valuable insights for finance professionals looking to enhance their technical capabilities and leverage automation to focus on more strategic aspects of their roles, rather than getting bogged down in manual processes that consume valuable time and resources.Key topics covered:Richard's journey from early Excel exposure to becoming a Microsoft Excel MVP and finance systems consultantThe critical importance of Power Query as a game-changing tool for finance professionalsHow automation can free finance teams from manual data entry to focus on analysis and strategic decision-makingThe competitive advantage gained by CFOs who embrace technological tools versus those who resist changeThe value of continuous learning and staying current with evolving finance technologiesLinksRichard Nero on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps00:23:12 Introduction of Richard Nero, Microsoft Excel MVP and finance systems consultant00:25:30 Richard discusses his early exposure to Excel and career progression in finance00:32:15 Exploration of the "Mastering Excel for Finance" course and its key components00:38:40 Discussion of Power Query's transformative impact on financial reporting00:42:20 How automation is changing the role of finance professionals00:48:15 The importance of continuous learning in the rapidly evolving finance technology landscapeFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=paid3zTnC6U&t=22s.entry-img img{display:none !important;}.single .hentry .entry-img{display:none !important;}https://open.spotify.com/episode/2ywfZ18iMIe7TSHdpaVsYUIn this episode of The GrowCFO Show, host Kevin Appleby is joined by Paula Kensington, a seasoned finance professional from Australia with over 30 years of experience. Paula shares her journey from traditional accounting roles to becoming a passionate advocate for sustainability in business. With her unique perspective as both a former corporate CFO and now a fractional CFO, Paula offers valuable insights on how finance leaders can drive meaningful sustainability initiatives beyond mere compliance.The conversation explores the evolving role of CFOs in sustainability leadership, highlighting the critical need for finance professionals to develop an ESG mindset. Paula emphasizes that while many businesses have been engaged with sustainability for years, finance leaders are often "10 years late to the sustainability party," only becoming involved when reporting becomes mandatory. She makes a compelling case for CFOs to leverage their ethical foundation and financial expertise to lead businesses toward practices that benefit all stakeholders, not just shareholders.Key topics covered:The unique position of CFOs to lead sustainability initiatives due to their ethical training and financial expertiseThe importance of moving beyond compliance to integrate sustainability into business strategy and cultureThe challenges of measuring and valuing non-financial impacts in traditional financial reportingThe tension between investor expectations and sustainable business practicesThe need for finance professionals to develop new skills and mindsets to effectively lead in sustainabilityThe upcoming wave of sustainability standards and how finance teams should prepare for themLinksPaula Kensington on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:05:53 Paula shares her background and journey from traditional accounting to becoming a sustainability-focused CFO0:08:15 Discussion on the CFO's ethical foundation and responsibility to consider impacts beyond shareholders0:09:56 Introduction to Paula's work developing ESG mindset courses for finance professionals0:12:30 Exploration of whether sustainability standards drive meaningful change or just compliance0:18:45 Conversation about measuring and valuing sustainability impacts in financial terms0:25:10 Discussion on the influence of different investor types on sustainability initiatives0:32:20 Overview of skills finance professionals need to develop for sustainability leadershipFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net
https://youtu.be/97Y65cAzzBs.entry-img img{display:none !important;}.single .hentry .entry-img{display:none !important;}https://open.spotify.com/episode/52560DpsRV0fr9XStbziYwIn this thought-provoking episode of The GrowCFO Show, Kevin Appleby engages with Patrick Dunne, an experienced Chair and Board Member in both business and social enterprise sectors, to explore the evolving landscape of risk management at the board level. The conversation examines how traditional approaches to risk governance may no longer be sufficient in today's complex business environment, where non-financial risks increasingly dominate the risk landscape.Patrick Dunne, recently awarded an OBE for his services to philanthropy in Africa and the UK, shares insights from his viral LinkedIn article suggesting that the conventional audit and risk committee structure requires fundamental rethinking. The discussion challenges finance leaders to consider whether their current risk management frameworks are adequately equipped to address emerging threats, particularly those stemming from geopolitical instability, technological disruption, and social change. Dunne advocates for more diverse risk committees that incorporate varied perspectives across generations, backgrounds, and expertise.Key topics covered:Traditional audit and risk committees are often dominated by financially-oriented individuals from similar backgrounds, limiting their ability to identify and address non-financial risksOrganizations should consider establishing separate risk committees with diverse membership to bring fresh perspectives to risk identification and managementEffective risk management requires focusing on consequences rather than events, preparing for the impact of risks rather than the risks themselvesThe concept of "combinatorial risk" - where multiple events occur simultaneously - presents particular challenges that boards must learn to navigateDiversity in risk governance is not just about demographics but also about including different thinking styles, experiences, and generational perspectivesLinksPatrick Dunne on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:12:24 Patrick explains why the prevailing model of audit and risk committees needs rethinking in light of today's dominant non-financial risks0:18:35 Discussion of how focusing on consequences rather than events leads to more effective risk management, illustrated by examples from the COVID-19 pandemic0:25:10 Patrick emphasizes the importance of distinguishing between "worrying" and "thinking" in risk management0:32:18 Exploration of how diversity and inclusion in risk committees leads to better risk identification and mitigation strategies0:41:05 Discussion of data security and cyber risk as critical areas requiring specialized expertise on risk committees0:48:22 Patrick shares practical advice for boards looking to modernize their approach to risk governanceFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=nb12TtUmSJ0.entry-img img{display:none !important;}.single .hentry .entry-img{display:none !important;}https://open.spotify.com/episode/0mxBSzi1Gzvigoo9manusQIn this insightful episode of The GrowCFO Show, host Kevin Appleby explores how artificial intelligence is revolutionizing accounts receivable processes with guests Jeff Martini, CFO at Bishop Lifting, and Ben Winter, Co-Founder at Stuut. The conversation delves into the practical applications of AI in finance departments, particularly focusing on accounts receivable automation and the tangible benefits organizations are experiencing through implementation The discussion highlights how AI is moving beyond simple chatbot functionality to transform entire AR processes, with Jeff sharing his company's experience implementing AI-driven solutions that handle routine collection tasks while allowing human collectors to focus on more complex dispute resolutions. Ben provides valuable insights on the importance of focusing on business outcomes rather than technology features, emphasizing that accounts receivable is ultimately a revenue function that impacts customer experience. Both guests stress the importance of understanding AI's capabilities and limitations to ensure successful implementation and meaningful results. Key topics covered:AI implementation in accounts receivable is most successful when focused on specific business outcomes rather than implementing technology for its own sakeModern AI solutions can effectively handle three common collection scenarios: confirming payment, securing promises to pay, and sending requested documentationHuman collectors remain essential for handling disputes and complex scenarios, with AI serving as a tool to enhance their capabilities rather than replace themSuccessful AI implementation requires coordination across departments including sales, account management, and fulfillment teamsThe rapid advancement of AI technology presents challenges for CFOs trying to stay current with capabilities, requiring trusted partnerships with technology providersLinksBen Winter on LinkedInJeff Martini on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:00:11 Kevin Appleby introduces the episode topic on how CFOs are adopting AI in finance functions0:13:47 Ben Winter discusses how AI adoption has evolved from technology-focused to outcome-focused implementations0:18:29 Kevin raises the challenge of CFOs keeping up with rapidly advancing AI capabilities0:26:29 Discussion on how AI provides additional insights by analyzing customer communications to identify reasons for late payments0:43:31 Exploration of how AI is transforming accounts receivable beyond manual processes to provide actionable insightsFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=ote8IemqGfs.entry-img img{display:none !important;}.single .hentry .entry-img{display:none !important;}https://open.spotify.com/episode/4gs9QiDVheQ0U2ZnGm4QBUIn this insightful episode, host Kevin Appleby welcomes back Dan Stockdale, a GrowCFO facilitator and financial modeling specialist. Dan shares his journey from management accountant to financial modeling expert across diverse industries including media, advertising, defense, and retail. Currently working as a contractor for London Business School and creating online courses for finance professionals, Dan offers valuable insights on automation tools that are transforming finance departments.The conversation explores how Power BI, Power Query, Power Pivot, Python, and Microsoft Copilot are revolutionizing financial analysis and reporting. Dan emphasizes that while learning these tools initially requires investment, the practical implementation in day-to-day finance operations delivers significant time savings and value creation. He highlights that as organizations collect increasingly larger volumes of data from diverse sources, finance professionals who can leverage these automation tools become indispensable to their businesses.Key topics covered:Dan explains how Power BI enables finance teams to automate month-end reporting and create dynamic visualizations that tell compelling financial storiesThe conversation covers the growing importance of Python in Excel for predictive analytics and how it's becoming more accessible to finance professionalsDan discusses how Microsoft Copilot is changing financial modeling, though he cautions about the need for human oversight when using AI-generated codeThe discussion explores how automation tools free finance professionals from routine tasks, allowing them to focus on delivering insights and strategic valueDan shares his plans to continuously update his courses as Microsoft releases new AI and automation features, ensuring finance professionals stay current with technological advancementsLinksDan Stockdale on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:11:44 Dan introduces his background as a management accountant who specialized in financial modeling across multiple industries0:14:09 Dan discusses the learning curve of automation tools and the importance of practical implementation to solve business problems0:22:48 The conversation covers data sources and the challenges of departments using Excel spreadsheets as databases0:27:38 Discussion about the speed and efficiency benefits of automation tools compared to traditional manual processes0:33:51 Exploration of the time-to-value proposition of Power BI and the challenges of data preparationFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=XAYQOwPdyhA.entry-img img{display:none !important;}.single .hentry .entry-img{display:none !important;}https://open.spotify.com/episode/5wmvtV5W3CneLlcQwQ0qJh?si=Fejf8jefTK2Lje3nVPHB7gIn this insightful podcast episode of the Grow CFO Show, Kevin sits down with Kathy Kinder. Their discussion centers on the critical challenges CFOs face during mergers and acquisitions, with particular emphasis on post-acquisition integration and avoiding burnout. Kathy brings extensive experience from her career spanning multiple private equity-owned companies where she managed numerous acquisitions, growing one company from $30 million to over $130 million in revenue. The conversation highlights the importance of simplifying organizational structures post-acquisition to reduce costs and improve efficiency. Kathy shares valuable insights on managing teams through periods of change, emphasizing communication and addressing performance issues promptly. Her transition from corporate CFO roles to fractional CFO consulting reflects a growing trend among finance executives seeking more balanced careers while still leveraging their expertise to help growing companies avoid costly mistakes.About Kathy Kinder:Kathy Kinder is a former CFO with over 30 years of experience managing accounting, HR, legal and facilities. She focused her expertise as a CFO for tech companies, facilitating over 13 acquisitions. These acquisitions cover private asset and stock sales, carve outs of public companies, and public take private situations. An original founder of LiftBridge, Kathy is now largely retired from direct client work but still contributes as a mentor to those wanting to grow their CFO skills, or for founders needing basic background or increased practical understanding of business and finance. Kathy, along with her co-founders Kay Whitaker and Ashley Vukovits, won the 2022 Mira Award for Service Partner of the Year. The judges for the Mira Awards, presented by TechPoint, ‘determined LiftBridge’s effectiveness with its clients is likely to have a lasting impact on the success of the Indiana tech ecosystem startups and scale-ups well past the critical five-year survival mark’. Kathy is a dog lover and former owner of a doggy boarding and daycare business. Key topics covered:Kathy led finance teams through 11-12 acquisitions under Battery Ventures, managing accounting, revenue recognition, HR, facilities, and legal contracts while navigating the complexities of rapid growth Post-acquisition integration requires simplification of organizational structures, including consolidating federal ID numbers to reduce redundant reporting and standardizing employee benefit plans across merged entities Effective team management during M&A transitions depends on clear communication and treating team members as valued contributors rather than subordinates Addressing underperforming team members promptly is essential during acquisitions to maintain overall team morale and productivity The multi-faceted role of a CFO during M&A requires broad knowledge across business functions, with Kathy emphasizing that there are "no stupid questions" when navigating unfamiliar territory Transitioning to fractional CFO work can provide a less stressful alternative for experienced finance executives while allowing them to mentor growing companies and help them avoid common pitfallsLinksKathy Kinder on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps00:01:04: Introduction to the podcast and explanation of the recording process with new mentor Kathy.00:05:00-00:10:00: Kathy shares her background from "bean counter" at Stokely Van Camp to managing growth at a tech company that went public.00:08:30-00:10:45: Experience leading finance through 11-12 acquisitions under Battery Ventures, growing from $30M to $130M in revenue.
https://youtu.be/Bqatoyfy-F4.entry-img img{display:none !important;}.single .hentry .entry-img{display:none !important;}https://open.spotify.com/episode/3xcOnyHg4WGip8LALiVb6TThe role of a Chief Financial Officer (CFO) in building and scaling a high-performance global finance team is critical to an organization's success. In today's rapidly evolving business landscape, CFOs must navigate complex challenges of team development, international expansion, and cultural transformation while maintaining strategic alignment and operational excellence.In this insightful podcast episode, Benyam Hagos, CFO of Form3, shares his comprehensive approach to creating a dynamic and adaptable finance function. The discussion explores the intricate process of transforming a startup finance team into a sophisticated, globally-oriented strategic partner, emphasizing the importance of talent development, cultural fit, and strategic recruitment.Key topics covered:Strategic Team TransformationDeliberate restructuring of finance team with 75% new talentFocus on specialist roles over generalist positionsEmphasis on cultural alignment and professional developmentInternational Expansion StrategyStructured approach to building finance capabilities across multiple geographiesCareful consideration of compliance and local market requirementsGradual, strategic hiring in new marketsLeadership and Team DevelopmentCommitment to continuous learning and professional growthTransparent communication about organizational expectationsCreating a flexible, remote-friendly work environmentRecruitment and Talent ManagementTwo-way interview process focusing on cultural compatibilityProactive approach to identifying and nurturing talentEncouraging internal mobility and career progressionLinksBenyam Hagos on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:07:05 - Discussion on learning and development challenges0:11:09 - Background exploration of professional experiences0:11:34 - Career trajectory and consulting background0:12:29 - Insights into professional growth and partner dynamics0:13:12 - Exploration of career progression challenges0:15:44 - Podcast introduction and guest background0:16:54 - Company overview and strategic positioning0:22:03 - Personal challenges in transitioning to CFO role0:26:18 - Team structuring and international expansion approach0:48:10 - Building team cohesion in a remote work environmentFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=XpOei-pHzBM.entry-img img{display:none !important;}.single .hentry .entry-img{display:none !important;}https://open.spotify.com/episode/2u9wa8kz26D64O7Fc5NpMFIn the rapidly evolving landscape of financial technology, businesses face critical decisions about scaling their accounting systems. Choosing the right financial management platform can make the difference between operational efficiency and strategic growth limitations. The Grow CFO Show podcast, hosted by Kevin Appleby, explores this crucial transition with Darren Cran, CEO of AccountsIQ, diving deep into the challenges and considerations of moving beyond entry-level accounting software like Xero and QuickBooks.The discussion centers on the pivotal moment when small to medium-sized enterprises outgrow their initial financial management tools and require more sophisticated solutions. Darren Cran brings a wealth of experience as a chartered accountant and technology leader, offering insights into the complex decision-making process of selecting an enterprise-level financial system. The conversation illuminates the nuanced requirements of businesses in the 20-50 employee range, where basic accounting software begins to show its limitations.AccountsIQ emerges as a strategic solution for businesses seeking a lightweight ERP system that bridges the gap between basic accounting platforms and complex enterprise resource planning tools. The podcast explores the critical factors businesses must consider, including reporting capabilities, integration potential, scalability, and the evolving role of technology in financial management. Cran emphasizes the importance of choosing a system that not only meets current needs but also provides flexibility for future growth.The discussion extends beyond system selection, delving into the transformative potential of emerging technologies like artificial intelligence in financial processes. Darren Cran provides a forward-looking perspective on how AI and cloud technologies are reshaping financial management, offering businesses unprecedented opportunities for efficiency, insights, and strategic decision-making.Key topics covered:Identifying the critical transition point for financial management systemsExploring the limitations of entry-level accounting platformsAnalyzing the specific needs of mid-market businessesUnderstanding the importance of scalable financial technologyDiscussing the role of integration and reporting capabilitiesExamining the implementation process for advanced financial systemsInvestigating the potential of AI in financial managementComparing lightweight ERP solutions with traditional enterprise systemsHighlighting the importance of user experience in financial softwareExploring the future of financial technology and digital transformationLinksDarren Cran on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:09:10 Darren Cran's role at AccountsIQ0:13:26 Podcast formal introduction0:18:52 Market positioning discussion0:24:25 Scalability of light ERP systems0:39:17 FP&A capabilities exploration0:44:28 AI's impact on financial systems0:50:31 Challenges of AI implementationFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=ubGYbvY_EAQ.entry-img img{display:none !important;}.single .hentry .entry-img{display:none !important;}https://open.spotify.com/episode/4bbVHlHNa80oANEpgOdOZcIn the dynamic world of corporate leadership, the journey of a first-time CFO represents a critical inflection point for emerging financial executives. Building a lasting legacy requires a strategic approach that combines technical expertise, leadership acumen, and personal growth. This podcast episode featuring Danielle Keeven, CFO at Vio.com, offers an insightful exploration of navigating the complex landscape of financial leadership, particularly for women breaking through traditional corporate barriers.Danielle Keeven's narrative provides a compelling blueprint for aspiring financial leaders, highlighting the importance of transparency, continuous learning, and strategic thinking. Her transition from VP of Finance to CFO at Vio.com demonstrates the critical skills required to excel in top-tier financial roles. The discussion explores the challenges of imposter syndrome, the importance of building a supportive network, and the significance of embracing opportunities that push professional boundaries.The conversation explores the multifaceted nature of modern CFO responsibilities, extending far beyond traditional financial management. Keeven emphasizes the importance of being curious about all aspects of the business, managing lean teams, and driving strategic growth. Her approach to leadership is characterized by openness, continuous learning, and a commitment to supporting talent development within her organization.Throughout the podcast, Keeven shares her unique perspective on women in leadership, demonstrating how personal commitment and strategic approach can overcome systemic challenges. Her journey illustrates the importance of running towards professional challenges, building a supportive network, and maintaining a growth mindset in the ever-evolving world of corporate finance.Key topics covered:Strategic Transition to First-Time CFO RoleOvercoming Imposter Syndrome in LeadershipImportance of Transparency and Continuous LearningLean Team Management and Operational EfficiencyWomen in Leadership: Breaking Corporate BarriersBootstrapped Company Growth StrategyEmbracing Technological Innovations in FinanceBuilding a Supportive Professional NetworkStrategic Approach to Professional DevelopmentBalancing Technical Expertise with Leadership SkillsLinksDanielle Keeve on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:01:18 Career Progression Discussion0:03:35 Bootstrapping Business Strategy0:05:04 Professional Background Exploration0:10:15 Imposter Syndrome Insights0:16:53 Leadership Learning Experiences0:22:01 Funding and Growth Perspectives0:30:35 Expanding CFO Responsibilities0:38:45 Team Development Approach0:47:14 Technology and AI in Finance0:51:32 Future Professional DevelopmentFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net
https://youtu.be/xkhJmKajXG8.entry-img img{display:none !important;}.single .hentry .entry-img{display:none !important;}https://open.spotify.com/episode/2BrVUEFhCiaYZSTsz10XvOThe finance landscape is undergoing a transformative revolution, driven by technological innovation and unprecedented operational challenges. Operational agility has emerged as a critical strategic imperative for startups navigating complex technological ecosystems, particularly in high-stakes sectors like robotics and biotech.Maria Ghibu, a distinguished Global CFO at Testhouse, brings a wealth of international experience and strategic insights into the intricate world of technology-driven entrepreneurship. Her professional journey spans multiple countries and critical roles in post-merger integration, fundraising, and strategic financial management, offering a comprehensive perspective on operational excellence in challenging technological domains.The podcast episode delves deep into the multifaceted challenges of financing and scaling robotics startups, illuminating the critical intersection of technological innovation, financial strategy, and investor relations. Ghibu's expertise provides a nuanced understanding of the complex ecosystem where long research and development cycles, regulatory hurdles, and investor expectations create a demanding operational landscape.Key topics covered:Strategic Financial Navigation in Technology EcosystemsComprehensive Fundraising Strategies for Robotics StartupsOperational Agility as a Competitive DifferentiatorInvestor Relationship Management MethodologiesNavigating Complex R&D Cycles in Technology SectorsProfessional Competency Framework DevelopmentStrategic Network Building and Professional ConnectionsExperiential Learning and Organizational TransformationIntegrated Finance and Operational Leadership ApproachCritical Success Factors in Emerging Technology VenturesLinksMaria Ghibu on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:02:55 - Exploring Innovative Learning Platforms0:16:27 - International Professional Development Trajectory0:27:20 - Fractional CFO Strategic Insights0:35:06 - Advanced Investor Engagement Techniques0:40:54 - Career Evolution and Strategic Positioning0:44:05 - Governance and Leadership Perspectives0:47:21 - Professional Relationship Ecosystem0:48:51 - Podcast Synthesis and Reflection0:49:49 - Post-Recording Strategic Dialogue0:50:55 - Organizational Talent Development StrategiesFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=S8myIm2OdbA.entry-img img{display:none !important;}.single .hentry .entry-img{display:none !important;}https://open.spotify.com/episode/393rj0qXYpByeuWWjgoC5iConfidence is a critical yet often misunderstood element of professional success. In today's competitive business landscape, understanding the nuanced dynamics of self-assurance can be the difference between breakthrough performance and persistent self-doubt. Susana Serrano Davey, a GrowCFO Mentor, emerges as a thought leader challenging conventional wisdom about personal empowerment through her groundbreaking book, "Confidence is Overrated." Her work represents a paradigm shift, moving beyond traditional self-help narratives to offer a more authentic, introspective approach to professional development.At the core of Davey's philosophy is the radical notion that confidence is not a prerequisite for achievement, but rather an organic outcome of genuine self-acceptance and continuous learning. By deconstructing the myth of performative confidence, she introduces innovative frameworks that encourage professionals to embrace vulnerability, take calculated risks, and view personal growth as a non-linear journey. Her methodology, enriched by personal anecdotes and metaphorical insights—ranging from mushroom hunting to unicorn symbolism—provides a refreshing alternative to conventional confidence-building strategies. Through her work, Davey empowers individuals to reframe their understanding of success, emphasizing internal resilience over external validation and demonstrating how true professional transformation emerges from self-compassion and persistent curiosity.Key topics covered:Challenging Traditional Confidence ParadigmsRedefines confidence as an internal journey rather than external validationEmphasizes self-acceptance over performative achievementIntroduces innovative metaphors like unicorns and mushroom hunting to illustrate personal growth conceptsBook Development InsightsLeveraged AI tools like ChatGPT for manuscript refinementIncorporated early feedback from zero readersDeveloped a more mature, professionally structured narrative compared to her first bookPersonal Growth StrategiesAdvocates for embracing uncertainty and taking calculated risksPromotes the value of continuous learning and adaptabilityShares personal stories demonstrating vulnerability and resilienceTechnological Integration in WritingUtilized AI as a collaborative writing assistantMaintained human emotional authenticity in storytellingExplored AI's potential and limitations in creative processesLinksSusana Serrano Davey on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:01:14 Initial conversational setup0:06:36 Book introduction and core concept0:10:07 Discussion on skill acquisition vs. confidence0:12:30 Metaphorical exploration of confidence0:16:13 Personal project discussion (mango farm)0:20:08 Podcasting journey reflection0:24:23 Confidence as an end result, not a starting point0:35:37 Unmasking professional confidence0:39:07 AI's role in book creation0:42:33 Closing remarks and future collaborationFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net
https://www.youtube.com/watch?v=auEV4K6aMyE&t=2s.entry-img img{display:none !important;}.single .hentry .entry-img{display:none !important;}https://open.spotify.com/episode/4mVO2Gtl2Vx5bQmDNuWfTiIn today's rapidly evolving business landscape, selecting the right technology stack is critical for organizational success and financial efficiency. The strategic selection of technological tools can make or break a company's operational effectiveness, directly impacting its growth trajectory and competitive positioning.This podcast episode featuring Tim Cadbury, a fractional CFO at InfiniteCFO, delves deep into the nuanced world of tech stack selection for high-growth businesses. Cadbury brings a wealth of experience from corporate giants like ITV and the dynamic startup ecosystem, offering listeners invaluable insights into navigating the complex terrain of technological infrastructure selection.Key discussion points revolve around the challenges businesses face when choosing technological solutions, the importance of scalability, and the need for adaptable systems that can grow with an organization. Cadbury emphasizes that tech stack selection is not a one-size-fits-all approach but a strategic decision requiring careful consideration of current needs and future growth potential.The conversation provides a comprehensive exploration of how fractional CFOs like Cadbury help businesses make informed technological investments, leveraging their extensive experience and understanding of various industry ecosystems. By sharing practical examples and strategic approaches, the podcast offers a roadmap for businesses seeking to optimize their technological investments without unnecessary expenditure.About Tim CadburyTim supports high growth businesses with a CFO-led virtual finance function. In his 3 years at InfiniteCFO, he's helped businesses in B2B SaaS, Cyber, LegalTech, AdTech, InsureTech, and Software. Successful projects include fundraises, M&A and finance transformations.Previously, Tim spent 13 years at ITV plc, including roles in Investor Relations, as Group Head of FP&A and as Finance Director for the £2bn advertising business. He spent 4 years out of finance growing the technology business SDN to >£65m profit, which included negotiating all commercial contracts and running the tech team. He was also a Director of D34, a joint venture with Channel 4 which transmits all the UK’s commercial Public Service Broadcasters. Tim qualified as an ACA with KPMG London.Key topics covered:Fractional CFO approach to supporting high-growth technology businessesStrategic importance of selecting scalable technological infrastructureLeveraging Xero and complementary ecosystem tools for financial managementRole of AI and automation in streamlining repetitive financial tasksImportance of understanding business-specific technological requirementsBalancing current technological needs with future growth potentialNavigating fundraising and due diligence with robust technological systemsDeveloping comprehensive financial strategies through intelligent tech selectionContinuous learning and adaptation in technological ecosystemValue of professional networks in making informed technological decisionsLinksTim Cadbury on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:05:59 - Professional background introduction0:10:38 - Career progression at ITV0:16:50 - Transition to fractional CFO role0:22:13 - Tech stack selection strategies0:28:48 - Scalability of financial systems0:34:18 - Comprehensive financial operations approach0:37:03 - Fundraising landscape insights0:40:22 - Impact of professional development programs0:45:09 - Future career perspectiveFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app.
https://www.youtube.com/watch?v=C4JrTWr9H2E.entry-img img{display:none !important;}.single .hentry .entry-img{display:none !important;}https://open.spotify.com/episode/0tFFZr6v55eoOv3NmRmYYCIn the rapidly evolving landscape of corporate finance, artificial intelligence (AI) stands as a transformative force reshaping the role of modern financial leadership. The integration of AI technologies presents unprecedented opportunities for CFOs to revolutionize traditional financial processes, drive strategic decision-making, and unlock new levels of organizational efficiency. As businesses navigate the complex digital transformation, AI emerges as a critical tool that transcends mere technological implementation, representing a fundamental shift in how financial strategies are conceptualized and executed.Francesco Zappala, Chief Financial Officer for South America at Impresa Pizzerotti, provides a nuanced perspective on AI's strategic potential, emphasizing that successful implementation goes far beyond technological adoption. His insights reveal that the true power of AI lies in its ability to augment human expertise, streamline routine tasks, and enable finance professionals to focus on high-value strategic activities. By advocating for a holistic approach that integrates change management, comprehensive training, and robust risk assessment, Zappala challenges executives to view AI not as a replacement for human intelligence, but as a sophisticated collaborative tool that can dramatically enhance organizational performance and competitive advantage.Key topics covered:AI represents a paradigm shift in financial operations, distinguishing between classic and generative AI technologiesStrategic implementation requires comprehensive organizational assessment and change managementData management emerges as a critical foundation for successful AI integrationCFOs must balance technological innovation with risk mitigation and strategic planningUser involvement and training are crucial for successful AI adoptionPredictive and narrative AI tools offer significant value-creation potentialOrganizations must develop a multi-provider approach to manage technological risksAI should be viewed as a supportive tool, not a replacement for human expertiseChange management requires a holistic approach involving all organizational levelsContinuous learning and adaptability are key to leveraging AI effectivelyLinksFrancesco Zappala on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:01:28 - Initial technical audio setup and equipment discussion0:06:21 - Introduction of AI adoption challenges in corporate environments0:14:02 - Exploring differences between classic and generative AI0:29:10 - Discussing potential AI applications in financial forecasting0:42:28 - Addressing data privacy and security concerns0:50:52 - Practical implementation strategies for AI in finance0:56:43 - Training and development considerations for AI integration1:00:36 - Historical perspective on technological transformation in finance1:04:27 - Generational perspectives on technological adaptation1:05:50 - Future outlook and continuous learning approachFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net
225 The Future of B2B Payments: AI, Automation & Financial Innovation with Alex Louisy https://open.spotify.com/episode/3qy4Q5X2ZRjyzBfqhOA2DlThe B2B payments ecosystem represents a critical financial infrastructure that fundamentally determines an organization's economic health and operational agility. In an increasingly digital and interconnected global marketplace, businesses are confronting unprecedented challenges in managing complex financial transactions, cash flow dynamics, and technological integration. The traditional paradigms of accounts receivable and payment processing are rapidly evolving, driven by technological innovations that promise to revolutionize how companies approach financial management. Emerging technologies like artificial intelligence, machine learning, and advanced analytics are creating transformative opportunities for businesses to optimize their financial workflows, reduce operational risks, and gain unprecedented insights into their economic performance.In this illuminating podcast episode, Kevin Appleby engages in a comprehensive dialogue with Alex Louisy, the visionary Co-founder and CEO of Upflow, exploring the intricate landscape of business-to-business payment strategies and technological disruption. Louisy brings a unique Franco-American perspective, offering deep insights into the global variations of payment methodologies, technological adoption, and strategic financial management. The discussion transcends traditional financial discourse, delving into critical areas such as AI-driven automation, online payment methodologies, risk mitigation strategies, and the future of financial technology. By examining real-world data, industry trends, and practical implementation strategies, Appleby and Louisy provide business leaders and finance professionals with a sophisticated roadmap for navigating the complex and rapidly evolving world of B2B payments, emphasizing the critical importance of continuous innovation, technological adaptation, and strategic financial thinking.Key topics covered:Upflow's innovative technology helps B2B companies optimize their cash collection processesDetailed insights from the B2B Payments Trends report revealing payment collection challengesCritical analysis of invoice aging and its impact on business financial healthExploration of online payment methods and their transformative potentialThe emerging role of AI in automating and enhancing financial workflowsStrategies for reducing non-payment risks and improving accounts receivableComparative perspectives on payment practices between US and European marketsImpact of technological innovations on financial team efficiencyDiscussion of payment method diversification and customer payment experienceFuture outlook on AI's role in financial process automationhttps://youtu.be/8Ta6pzF1MXcLinksAlex Louisy on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:00:34 Initial introductions and market sentiment discussion0:02:45 Exploring business expansion strategies0:04:16 CFO training and AI technology trends0:06:39 Research on AI's impact in financial sectors0:11:04 Detailed explanation of Upflow's business model0:19:44 Analysis of invoice payment risk factors0:32:28 Online payment method strategies0:38:26 Customer payment experience considerations0:43:27 AI's potential in financial process transformation0:49:25 Reflections on technological evolution in financeFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular net...
224 The Future of Finance: How Power BI and AI Are Redefining the CFO Role with Rishi Saprahttps://open.spotify.com/episode/6sIeKqInI1Ur549AprBRnw How Are Power BI and AI Redefining the CFO Role?Power BI and artificial intelligence are transforming how finance leaders operate. In this podcast, Rishi Sapra, Microsoft MVP and GrowCFO Facilitator, explores how modern CFOs can use data, automation, and AI to make faster, smarter decisions. From building interactive dashboards to automating reporting, this episode shows why mastering these tools is no longer optional — it’s a competitive necessity.Rishi Sapra, a GrowCFO Facilitator and Microsoft Most Valuable Professional (MVP), brings a wealth of experience from top-tier financial institutions to demystify the power of business intelligence technologies. Through his expertise, finance professionals can understand how advanced analytics platforms are not just technological tools, but strategic assets that can drive organizational performance and competitive advantage.The podcast explores the intricate world of Power BI, showcasing how modern finance professionals can leverage data visualization, automation, and AI-driven insights to make more informed decisions. By bridging the gap between complex technical capabilities and practical business applications, Sapra provides a comprehensive overview of how emerging technologies are reshaping the financial analysis landscape.This session offers a deep dive into the transformative potential of Power BI, illustrating how finance leaders can move beyond traditional reporting to create dynamic, interactive, and intelligent financial narratives that drive strategic decision-making.Key topics covered:Power BI's role in creating comprehensive semantic models for financial dataThe importance of context and storytelling in financial reportingAutomation capabilities that streamline financial data processingIntegration of AI and copilot technologies in financial analyticsPractical approaches to building interactive financial dashboardsBridging the gap between technical complexity and business valueThe future of data management through unified platformsStrategies for handling diverse skill levels in financial technology trainingThe critical role of education in adopting advanced analytics toolsTransforming financial reporting from static to dynamic insightshttps://www.youtube.com/watch?v=guXnwOwe0_s&t=7sLinksRishi Sapra on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:03:22 Initial introductions and background context0:06:37 Podcast formal introduction0:08:37 Discussion of Power BI teaching approach0:11:30 Motivation for teaching technical subjects0:13:58 Experiential learning in technical training0:20:34 Power BI's core functionalities in financial reporting0:31:14 Course structure and content details0:38:13 Future trends in Power BI and AI integration0:41:11 Historical challenges in performance management0:45:56 Concluding insights on technology and educationFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net
223 Streamlining Success: The Key to Sustainable Growth with Karina Rasichttps://open.spotify.com/episode/7aOwo254gene5On21geffeKarina Rasic, CEO and Business Strategy Consultant at Make Business Flow, shares her insights on the challenges and strategies for helping female-led companies succeed in fundraising. Accessing capital is a critical issue for entrepreneurs, and Karina's experience in working with women-owned businesses provides valuable perspectives on addressing this problem.In this episode of the Grow CFO Show, Karina discusses the cultural and educational differences that impact financial literacy in Latin America, particularly the contrast between Protestant and Catholic views on money and work. She explains how these factors create unique obstacles for women seeking to build and grow their businesses. Karina's approach to supporting her clients involves empowering them to present their ventures in a more confident, "male-like" manner to potential investors.She highlights the importance of financial education, her strategies for helping female founders overcome fundraising challenges, and her own entrepreneurial journey. She also shares details about her two companies - one providing fractional CFO services and the other, a legal services platform. Karina's passion for writing and her plans for the future, including a program to help retirees start new businesses, provide a well-rounded perspective on her multifaceted career.Karina and Kevin Appleby explore the potential for growth in the Latin American market for fractional CFO services, as well as the challenges of finding qualified professionals in the region. Karina's commitment to making a positive impact and her belief in the power of entrepreneurship to drive change are evident in her words and actions.About Karina Rasic:Karina is an accomplished project manager with extensive experience in financial analysis, digital marketing, and business development. Karina specializes in CFO fractional services, financial assessments for startups, and securing funding—particularly for businesses founded and led by women.Currently, she leads initiatives at Make Businesses Flow, focusing on streamlining operations and enhancing business performance. With a strong ability to manage cross-functional teams and implement data-driven strategies, Karina is dedicated to driving organizational success and sustainable growth.Key topics covered:Karina's background as an Argentinian with a mix of Spanish and American accentsThe cultural and religious differences that impact financial literacy in Latin AmericaKarina's work in helping women-led companies with fundraising and presenting their businessesHer two companies: a fractional CFO service and a legal services platformKarina's passion for writing and her plans for the future, including a program to help retirees start new businessesThe potential for growth in the Latin American market for fractional CFO services and the challenges of finding qualified professionalshttps://www.youtube.com/watch?v=AGURhtRgtDsLinksKarina Rasic on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:06:07 Karina's background and accent0:07:21 Karina's two companies0:10:26 Cultural differences in finance education0:12:38 Karina's focus on working with women0:15:04 Common problems Karina helps clients with0:18:54 Fundraising challenges for female-led companies0:24:51 Karina's role as a personal mentor to founders0:30:02 Karina's legal services platform0:35:05 Karina's definition of success0:37:37 Karina's plans for the futureFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way,
222 Master the Art of Financial Product Design with Siqi Chenhttps://open.spotify.com/episode/019MLgaVF4N7jNvm2Ek910Mastering the art of financial product design is a crucial skill for finance professionals in today's rapidly evolving business landscape. In this insightful podcast episode, Kevin sits down with Siqi Chen, the Founder and CFO of Runway, to explore the challenges and opportunities in creating innovative finance software. The discussion delves into the limitations of traditional finance tools, the importance of user-centric design, and the transformative potential of emerging technologies like artificial intelligence.Siqi Chen shares his diverse background, from his studies in mathematics to her experience working at NASA's Jet Propulsion Laboratory. Siqi recounts his journey as a serial entrepreneur, highlighting the challenges she faced in understanding finance and the inspiration behind founding Runway, a finance software company aimed at revolutionizing the way businesses approach financial management.They delve into the unique features and design principles that set Runway apart from traditional finance tools. Siqi explains how Runway's focus on collaboration, data visualization, and seamless integration with other business systems addresses the pain points experienced by finance teams. The discussion also explores the role of ambient intelligence and artificial intelligence in enhancing the user experience and providing proactive insights.Kevin and Siqi also discuss the potential for collaboration between their respective organizations, exploring opportunities for joint webinars, summits, and other initiatives. The shared enthusiasm for innovation in the finance space sets the stage for a continued dialogue and the exploration of new ways to empower finance professionals in their quest to drive business success.Key topics covered:Siqi Chen's diverse background and his journey as a serial entrepreneurThe limitations of traditional finance tools and the inspiration behind founding RunwayRunway's focus on collaboration, data visualization, and seamless integrationThe role of ambient intelligence and artificial intelligence in enhancing the user experiencePotential for collaboration between Grow CFO and Runway, including joint webinars and summitsRunway's pricing and target market for mid-market companiesSiqi Chen's emphasis on the importance of user-centric design in finance softwareRunway's unique features, such as fine-grained permission controls and the ability to encrypt sensitive dataThe potential of finance software to revolutionize the way businesses approach financial managementThe shared enthusiasm for innovation and the exploration of new opportunities in the finance spacehttps://youtu.be/79XXRP-gKCkLinksSiqi Chen on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:03:14 - Initial greetings and discussion of partnership opportunities0:05:09 - Siqi Chen's background and the founding of Runway0:08:53 - Challenges in finance and the need for better tools0:13:04 - Runway's unique approach and features0:16:52 - Runway's focus on collaboration and data visualization0:20:59 - The role of ambient intelligence and artificial intelligence in Runway0:26:55 - Runway's integration with other business systems and workflows0:32:28 - Runway's pricing and target market0:35:20 - Siqi Chen's emphasis on user-centric design0:47:18 - Potential for collaboration between Grow CFO and RunwayFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network.
221 The Ultimate Guide to Cost-Smart Property Management with Scot Ginsburghttps://open.spotify.com/episode/31KM37M8HM8JHmbZPtm203Property management is a critical aspect of business operations, with real estate often representing one of the largest fixed costs for organizations. In this podcast episode, Scot Ginsburg, Executive Managing Director at Hughes Marino, shares his expertise on navigating the complexities of commercial real estate and optimizing property-related expenses.The discussion covers a range of topics, highlighting the importance of strategic planning, lease negotiations, and the evolving landscape of office and retail spaces. Ginsburg emphasizes the need for finance leaders, particularly Chief Financial Officers (CFOs), to take an active role in managing their organization's real estate portfolio, as it can have a significant impact on the bottom line.Key topics covered:The importance of aligning real estate strategy with overall business objectivesCommon pitfalls in lease negotiations and how to avoid themThe impact of remote work and changing office space utilizationStrategies for managing a portfolio of commercial propertiesThe role of CFOs in overseeing real estate decisionsThe financial implications of rising interest rates on commercial real estateThe evolution of retail and office spaces in the digital ageThe need for flexibility and adaptability in real estate planningThe value of proactive real estate management in driving business successEffective marketing and audience engagement strategies for thought leadership contenthttps://youtu.be/q2aJobfj6MoLinksScot Ginsburg on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:00:00 - Introduction to the guest and the topic0:05:00 - Aligning real estate strategy with business objectives0:10:30 - Avoiding common mistakes in lease negotiations0:15:45 - Adapting to the impact of remote work on office space0:20:00 - Strategies for managing a diverse real estate portfolio0:25:15 - The role of CFOs in overseeing real estate decisions0:30:00 - The financial implications of rising interest rates0:35:20 - The evolution of retail and office spaces0:40:00 - The need for flexibility in real estate planning0:45:00 - Effective marketing and audience engagement strategiesFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net
220 Financial Modelling Done Right: Expert Tips with Danielle Stein Fairhursthttps://open.spotify.com/episode/6sSbm92dhd0BaEzD91LJPpFinancial modelling is a critical skill for finance professionals, enabling them to analyze data, forecast scenarios, and make informed business decisions. In this podcast episode, Danielle Stein Fairhurst, a renowned financial modelling expert and GrowCFO Mentor, shares her insights and best practices on mastering the art of financial modelling.Danielle's extensive experience in the field, including her work as a Microsoft MVP and the author of several books on financial modelling, makes her a valuable resource for finance professionals looking to enhance their skills. Throughout the conversation, she delves into the importance of financial modelling, the evolution of Excel as a tool, and the key techniques and strategies that can help professionals create robust and efficient models.The podcast covers a wide range of topics related to financial modelling, providing listeners with a comprehensive understanding of the subject matter. Danielle's expertise and passion for the topic are evident as she discusses the various aspects of financial modelling, from best practices to the latest industry trends and developments.Key topics covered:Danielle's background and journey into financial modellingThe importance of best practices in financial modelling, such as consistent formula usage and leveraging new Excel featuresThe Excel World Cup and the financial modelling world championship, where Danielle serves as a commentatorThe GrowCFO financial modelling course and its structure, covering topics like financial statement linking and scenario analysishttps://www.youtube.com/watch?v=Z-8uJgv4w_ILinksDanielle Stein Fairhurst on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:15:21 Danielle's journey into financial modelling0:19:38 Discussing common bad habits in financial modelling and how the GrowCFO course addresses them0:28:59 The upcoming Excel and financial modelling world championships and the debates surrounding modelling best practices0:35:00 The structure and delivery of the GrowCFO financial modelling course0:41:45 The excitement and passion surrounding the world of financial modelling0:42:35 Danielle's upcoming participation in the global Excel summit0:43:42 Danielle's recognition as a master financial modeller with the Financial Modelling Institute0:44:10 Discussing affiliate opportunities and discount codes for the GrowCFO financial modelling course0:46:39 Strategies for promoting the GrowCFO course and engaging with past attendees0:48:14 The challenge of getting people to recognize the value of free training offeringsFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net
219 Celebrating 5 Years of Driving Change for Finance Leaders with Dan Wellshttps://open.spotify.com/episode/1mgQkjEkaaBVBghRye7nhDCelebrating its 5th anniversary, the GrowCFO podcast takes a deep dive into the remarkable journey of the finance community platform. Led by founder and CEO Dan Wells, this special episode reflects on the evolution of the business, the key milestones, and the vision for the future. As a purpose-driven startup that has transformed into a leading resource for finance professionals worldwide, GrowCFO's story offers valuable insights for aspiring entrepreneurs and established businesses alike.Throughout the conversation, Dan and Kevin explore the challenges and triumphs that have shaped the GrowCFO narrative over the past five years. From the initial community-focused vision to the pivotal shift towards virtual and global expansion, the podcast delves into the strategic decisions, innovative programs, and the power of a dedicated team and supportive community.Key topics covered:The evolution of GrowCFO's business model, from community-based to virtual and globalThe launch and success of flagship programs like the Future CFO and CFO programsThe transition to experiential learning and the impact of the XLF (Experiential Learning for Finance) initiativeThe importance of mentoring, partnerships, and the diverse team of experts that have contributed to GrowCFO's growthThe key learnings and challenges faced by the startup, including the willingness to pivot and the power of purpose-driven leadershipThe future vision for GrowCFO, focusing on strategic finance, technology integration, and empowering finance teamshttps://www.youtube.com/watch?v=prCNHnQyBDI&t=55sLinksDan Wells on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:00:22 - Introduction and discussion of the 5-year anniversary0:00:44 - Reflecting on the early days and the launch of the business0:04:29 - Discussing the initial community-focused vision and the impact of the COVID-19 pandemic0:08:05 - Exploring the evolution of the business model and the importance of mentoring0:12:24 - Introducing the CFO program and the role of mentors0:17:23 - Transitioning to experiential learning and the success of the XLF program0:23:35 - Discussing the key learnings and challenges faced over the past 5 years0:29:37 - Partnerships with tech companies and the transformation of the finance function0:35:28 - Future vision and objectives for the next 5 years0:39:30 - Closing remarks and a special offer for the communityFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net
218 Soft Skills Every Financial Leader Needs with Melanie Coeshotthttps://open.spotify.com/episode/65A52E2nhXg7T5L4SPV1Q1As the business landscape becomes increasingly complex, the ability to effectively communicate, manage people, and navigate interpersonal dynamics has become just as essential as technical financial expertise. Melanie Coeshott, a GrowCFO mentor, shares her insights and experiences in coaching and facilitating courses that help finance professionals develop these crucial soft skills.Melanie and Kevin Appleby explore the importance of experiential learning, where participants actively engage in role-playing, group discussions, and feedback sessions to hone their skills. They discuss the various courses Melanie facilitates, including emotional skills, interpersonal skills, people management, and delegation. Melanie emphasizes the need for finance professionals to continuously develop their soft skills, regardless of their career stage, as these capabilities can significantly impact their effectiveness as leaders and their ability to navigate the evolving business environment.The key highlights of this session include Melanie's personal journey from an accountant in the financial services industry to a career coach and facilitator, her insights on the role of mindset and limited beliefs in career development, and the practical strategies she employs to help her clients and workshop participants unlock their full potential. The discussion also delves into the nuances of active listening, the importance of empowering others through effective delegation, and the value of creating a safe and inclusive environment for learning and growth.Key topics covered:Melanie's background as an accountant and her transition to a career coach and facilitatorThe importance of soft skills for finance professionals, including emotional skills, interpersonal skills, people management, and delegationThe experiential learning approach used in Melanie's courses, emphasizing active engagement and feedbackMelanie's insights on addressing mindset and limited beliefs in career coachingThe role of motivational maps in understanding individual drivers and satisfaction levelsThe overlap between one-on-one coaching and group workshops in developing soft skillsThe relevance of soft skills courses for finance professionals at different career stageshttps://www.youtube.com/watch?v=QkPl3enoqsoLinksMelanie Coeshott on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:00:34 - Introduction and initial greetings0:01:48 - Melanie's background and facilitation work with GrowCFO0:05:27 - Discussion of the various courses Melanie facilitates0:12:38 - The importance of soft skills for aspiring CFOs0:16:13 - Melanie's approach to the delegation and empowerment course0:25:17 - Melanie's use of motivational maps in career coaching0:37:44 - Explanation of the motivational maps tool0:47:03 - Discussion of networking for future CFOsFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net
217 The Blueprint for a High-Performing Finance Team with Damian Smithhttps://open.spotify.com/episode/4bLrSTnZuprXVZcK4eSF4sDamian Smith, a GrowCFO Mentor, joins the Grow CFO Show to discuss the blueprint for building a high-performing finance team. In today's dynamic business landscape, the need for finance teams to operate at peak efficiency has never been more crucial. Effective finance teams not only drive financial success but also play a pivotal role in shaping the overall success of an organization.Damian, a seasoned finance professional turned leadership coach, shares his unique perspective on transforming dysfunctional finance teams into thriving, purpose-driven units. Drawing from his own experiences as a "recovering toxic CFO," Damian delves into the core principles of the Thrive methodology, a comprehensive approach to cultivating high-performing teams. He emphasizes the importance of trust as the foundation for building a cohesive and collaborative team, as well as the need to align team purpose, values, and goals to drive commitment and accountability.Throughout the discussion, Damian shares practical strategies for finance leaders to address the challenges of dysfunctional teams. He highlights the significance of fostering a culture of healthy conflict and open communication, where team members feel empowered to voice their perspectives and work towards the best possible outcomes. Additionally, Damian underscores the importance of embedding values and accountability into the recruitment and onboarding process to ensure a strong cultural fit and a shared commitment to the team's objectives.Key topics covered:Damian's journey from a toxic CFO to a leadership coach and the lessons he learned along the wayThe importance of trust as the foundation for building a high-performing teamAligning team purpose, values, and goals to drive commitment and accountabilityFostering a culture of healthy conflict and open communicationEmbedding values and accountability into the recruitment and onboarding processPractical strategies for finance leaders to transform dysfunctional teamshttps://youtu.be/fmC7hZbVhhsLinksDamian Smith on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:00:50 - Introductions and initial chit-chat0:09:03 - Damian's background and journey from toxic CFO to leadership coach0:20:54 - The importance of trust in building high-performing teams0:27:08 - Aligning team purpose, values, and goals0:38:39 - The Thrive methodology and its key components0:48:31 - Advice for finance leaders with dysfunctional teamsFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net
216 Navigating People and HR Challenges as a CFO with Gwenevere Craryhttps://open.spotify.com/episode/31IPiTQcj3yVhQ2IvJnXVXAs businesses grow, the people and HR challenges they face become increasingly complex. Founders and finance leaders often find themselves responsible for managing HR-related tasks, even without formal training or expertise in this area. In this episode, Gwenevere Crary, Founder and CEO of Guide to HR, shares her insights on how finance leaders can effectively navigate these challenges and build a strong HR foundation for their organizations.Crary emphasizes the importance of establishing robust onboarding processes to retain new hires and ensure a smooth ramp-up. She also discusses strategies for creating a learning and development culture, including providing a variety of training options and aligning with employee career goals. These proactive measures can help finance leaders support their teams and foster a positive work environment.Furthermore, Crary highlights the significance of recruiting with a focus on culture fit and values, especially in startup environments. She also addresses the challenges of transitioning from a founder-led to a professional leadership team and maintaining a strong company culture. By prioritizing these aspects, finance leaders can contribute to the overall success and sustainability of their organizations.Lastly, the discussion underscores the need for finance leaders to develop strategic thinking and planning skills to succeed in C-level roles. As they navigate the evolving landscape of their businesses, the ability to make informed decisions and align HR practices with the company's goals becomes increasingly crucial. By leveraging Crary's insights, finance leaders can enhance their capabilities and effectively manage the people-related aspects of their organizations.Key topics covered:Importance of establishing robust onboarding processes to retain new hires and ensure a smooth ramp-upStrategies for creating a learning and development culture, including providing a variety of training options and aligning with employee career goalsSignificance of recruiting with a focus on culture fit and values, especially in startup environmentsChallenges of transitioning from a founder-led to a professional leadership team and maintaining a strong company cultureNeed for finance leaders to develop strategic thinking and planning skills to succeed in C-level roleshttps://youtu.be/lwnsjDNSi50LinksGwenevere Crary on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps[0:06] - Introductions and setting the agenda[0:24] - Discussion on Grow CFO's product launch and experiential learning[3:41] - Exploring partnership opportunities and fractional communities[6:22] - Addressing HR challenges and solutions for startups[11:54] - Importance of onboarding and performance management[15:22] - Creating a learning and development culture[20:12] - Recruiting and culture fit considerationsFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net
215 Your Guide to Adopting US GAAP Standards with Katrina Naccihttps://open.spotify.com/episode/2QAyBEewKZYCwqzkK2mKC2As global markets become increasingly interconnected, the need for European companies to align their accounting practices with US GAAP standards has become paramount. Navigating the complexities of cross-border accounting can be a daunting task, but with the right guidance, businesses can seamlessly transition and unlock the benefits of US GAAP compliance. In this insightful podcast episode, Katrina Nacci, a seasoned cross-border accounting advisor with KN CPA, shares her expertise and insights on the challenges and opportunities that arise when European companies embrace US GAAP standards.The adoption of US GAAP standards is a critical step for European businesses seeking to expand their reach and access the lucrative US market. By aligning their financial reporting with the widely recognized US accounting framework, these companies can enhance transparency, improve investor confidence, and streamline cross-border transactions. However, the process of converting from European accounting standards, such as IFRS or local GAAP, to US GAAP can be complex and fraught with potential pitfalls. Katrina Nacci's wealth of experience in this niche field provides invaluable guidance to European businesses navigating this transition.Throughout the podcast, Katrina delves into the nuances of the conversion process, highlighting the importance of understanding the specific needs and nuances of each client's accounting practices. She emphasizes the need for a tailored approach that goes beyond simply applying a one-size-fits-all solution, ensuring that the final US GAAP-compliant financial statements accurately reflect the company's unique circumstances. By involving clients in the conversion process and fostering knowledge transfer, Katrina's approach aims to empower businesses to maintain their US GAAP compliance long-term, rather than relying on a temporary fix.Key topics covered: Katrina's career journey from PwC in Boston to becoming a cross-border accounting specialist in FrankfurtThe nuances of converting from European accounting standards (IFRS, local GAAP) to US GAAP, and the importance of understanding the specific needs of each clientThe drivers behind US investors' requirements for US GAAP-compliant financial statements, including consolidation and audit requirementsKatrina's approach to educating clients and involving them in the conversion process to ensure long-term sustainabilityThe competitive landscape and Katrina's strategies for building a steady client pipeline, including networking, marketing, and exploring fractional rolesKatrina's vision for the future, including potential expansion and the development of passive income streams https://youtu.be/lXJYTzk3a9YLinksKatrina Nacci on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:01:44 - Introductions and catch-up0:03:32 - Katrina's career journey and expertise in cross-border accounting0:09:05 - Navigating the challenges of moving to Germany without knowing the language0:15:25 - Differences between IFRS and US GAAP and the importance of understanding client-specific needs0:24:51 - The necessity of US GAAP compliance for companies seeking US IPOs0:33:16 - Katrina's approach to knowledge transfer and client involvement in the conversion process0:41:33 - Katrina's advice to her past self and the challenges of running a solo advisory businessFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network.
214 How to Launch a Successful Fractional CFO Practice with Kat Wellum-Kenthttps://open.spotify.com/show/7yTcgGvYdcXPxz2HbvgB2HFractional CFO services are becoming increasingly valuable as businesses seek strategic financial guidance to support their growth. In this episode of the Grow CFO Show, host Kevin Appleby sits down with Kat Wellum-Kent, the founder and CEO of Fractional Finance, to discuss her journey in establishing a successful fractional CFO practice.Kat Wellum-Kent shares her background as an accountant, her transition from a larger firm to a smaller practice, and her realization of the gap in the market for strategic financial advice. She describes her decision to start Fractional Finance, the challenges she faced in securing her first clients, and the rapid growth of her business over the past two years. Kat's story provides valuable insights for finance professionals considering the transition to a fractional CFO role.Key topics covered:Kat's background in accounting, including her time at Deloitte and her move to a smaller practiceHer discovery of the fractional CFO concept and the decision to start her own businessThe importance of using the CFO competency framework to assess her skills and identify areas for improvementThe process of securing her first clients, including the power of LinkedIn for lead generationThe growth of Fractional Finance, from two clients in January 2023 to 17 clients by October 2024The value of Kat's corporate finance experience and how it benefits her clientsThe role of a mentor in guiding Kat through the challenges of entrepreneurshipAdvice for aspiring fractional CFOs, including the importance of protecting time and backing oneselfhttps://www.youtube.com/watch?v=7f9qbchI9l4LinksKat Wellum-Kent on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:04:15 Kat's background and transition to a smaller accounting practice0:09:28 Kat's decision to start Fractional Finance and the business planning process0:13:00 Securing the first clients and the power of LinkedIn0:15:28 The growth of Fractional Finance and the team expansion0:19:46 Kat's ambition for the business and the market potential0:22:11 The relevance of Kat's corporate finance experience0:25:40 The value of having a mentor for guidance and support0:27:20 Kat's advice for aspiring entrepreneurs and dealing with imposter syndromeFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net
213 C-Suite as a Service: Redefining Leadership in the Digital Age with Sara Dawhttps://open.spotify.com/episode/30bHNDcIm7hfbOG1PFJr8mThe fractional C-suite model is transforming the way organizations access and leverage top-level talent. As businesses navigate the complexities of the digital landscape, the need for agile, specialized leadership has become increasingly crucial. Sarah Daw, the CEO of The CFO Centre Group, shares her insights on this innovative approach to C-suite talent management.In this insightful discussion, Sarah Daw delves into her own journey, from a chartered accountant to the leader of an international organization that provides fractional CFO services. She explores the growing demand for flexible, on-demand access to C-suite expertise and the benefits it offers to both businesses and professionals. The conversation covers a range of topics, including the evolution of the gig economy, the importance of psychological ownership in the access economy, and the challenges of building a cohesive culture in a fractional workforce.Key topics covered:The importance of mentoring and skill development for professionals in the fractional modelSarah's background and transition from corporate finance to the fractional CFO modelThe growth and expansion of The CFO Centre Group, from a local to an international businessThe advantages of the fractional CFO model, including flexibility, specialization, and cost-effectivenessExpanding the fractional model beyond the CFO role to other C-suite functionsThe role of fractional CFOs in supporting group-level finance leadersThe future of work and the shift towards a more agile, portfolio-based workforceStrategies for building a strong organizational culture in a fractional work environmenthttps://www.youtube.com/watch?v=-dfjG5M3XUULinksSara Daw on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:00:11 - Introduction to the Grow CFO Show and Sarah Daw0:00:36 - Sarah Daw's background and journey to the CFO Centre0:03:18 - The growth and expansion of the FD Centre/CFO Centre0:07:11 - The role of fractional CFOs in supporting group-level finance leaders0:11:53 - Sarah Daw's book, "Strategy and Leadership as a Service"0:19:57 - Building culture in a fractional workforce0:25:59 - Mentoring and skill development in the fractional model0:31:07 - The future of work and generational shifts in the fractional modelFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net
212 Proactive Planning for CFOs: The CFO's Role in Disaster Recovery with Wade Millerhttps://open.spotify.com/episode/1ZB7kSmsx3bxgecNwlea03The CFO's role in Disaster Recovery is a critical aspect of risk management for organizations of all sizes. As the financial steward of the company, the CFO is responsible for ensuring the organization's financial resilience in the face of unexpected events that can disrupt operations and threaten the bottom line. This podcast episode explores the complexities of disaster recovery and the strategies CFOs can employ to mitigate the impact of such events.Wade Miller, the Founder of OneRallyPoint, shares his extensive experience in the disaster recovery industry, providing valuable insights and practical advice for CFOs.Wade started OneRallyPoint to bring more efficiency to the overall disaster recovery process and improve the time, money and effort needed by all parties.Wade has over 30 years of experience and demonstrated success working with large companies nationally and internationally. He utilized his background in the insurance, financial services and institutional banking industries to form a disaster recovery company in 2002. Spotting a critical need in the industry, Wade transitioned the firm from a disaster recovery contractor to what OneRallyPoint is today — an owner’s representative firm providing Recovery Oversight & Management with a national scale and international reach.Wade is an effective collaborator and communicator who brings solutions to complex issues in otherwise stressful circumstances. He has the keen ability to identify the causes of persistent issues — and then design, strategize and create tactical plans to solve them.Wade’s vision, broad background and high-level understanding of how clients need to run their businesses in disaster situations enable him to break down high-stress problems into manageable pieces through the comprehensive services of OneRallyPoint. Throughout the discussion, Wade emphasizes the importance of proactive planning, effective communication, and a holistic approach to managing the recovery process.Key topics covered:The diverse types of disasters that organizations may face, ranging from natural disasters to localized incidents like sprinkler floods and sewer backupsThe need to tailor disaster recovery plans to the specific needs and risks of different industries, considering factors such as physical assets, IT infrastructure, and workforce displacementThe importance of aligning the recovery efforts with the organization's objectives, ensuring that all stakeholders, including contractors, adjusters, and the client, are on the same pageThe role of expert input, such as industrial hygienists and engineers, in addressing complex issues like contamination and health effectsThe potential conflicts between insurance recovery and the need to restore business operations quickly, and strategies to balance these competing prioritiesThe significance of pre-disaster preparation, including the selection of suitable contractors, the establishment of communication protocols, and the engagement of dedicated insurance adjustersThe value of post-incident reviews and continuous learning to improve the organization's disaster resiliencehttps://youtu.be/1COkQguby9ALinksWade Miller on LinkedIn Kevin Appleby on LinkedInGrowCFO MentoringTimestamps0:00:10 - Introduction to the topic and guest, Wade Miller0:00:52 - Wade Miller's background and experience in the disaster recovery industry0:02:15 - Types of disasters and common issues faced by organizations0:03:46 - Consideration of IT assets in disaster recovery0:04:13 - Understanding and assessing the organization's risk exposure0:06:27 - Balancing insurance recovery and business restoration0:08:58 - Practical steps for CFOs to prepare for and mitigate disaster risks
211 Power Moves: CFO Strategies for the Modern World with Justin Smithhttps://open.spotify.com/episode/1pWwzUs6hkgmIypL7iATHQThe role of the Chief Financial Officer (CFO) has evolved significantly in recent years, moving beyond the traditional focus on balance sheets and financial reporting. In this podcast episode, Justin Smith, the CFO of FinQuery, shares his insights on the evolving responsibilities and skills required for modern CFOs to drive strategic and operational value within their organizations.Justin spent almost a decade working at Goldman Sachs in the investment banking division where he focused primarily on strategic finance, giving him the ability to approach every decision as a CFO with a unique perspective. Justin is passionate about promoting cross-functional efficiency as he’s spent a lot of time working across departments because his job is to manage all financial resources for the firm, which touches just about every corner of the company. In his POV, finance should be like Switzerland. They are neutral but need to manage efficiency and resources across the whole organization. They also need to take into account proper cost cutting while simultaneously allocating towards growth, which not every CFO is able to accomplish.Justin’s career journey from an investment banking background to the CFO seat at FinQuery provides a unique perspective on the changing landscape of the finance function. He discusses the challenges of transitioning into the CFO role, the importance of communication and data-driven decision-making, and the strategies employed by FinQuery to navigate the uncertain economic environment.Key topics covered: Justin's career path from investment banking to CFO at FinQueryThe evolving role of the CFO, moving beyond traditional accounting and financeThe importance of communication, analytical skills, and strategic thinking for modern CFOsFinQuery's approach to balancing growth and profitability in uncertain timesThe role of data analytics and AI in finance and operationsStrategies for effective communication and integration in a remote work environmentAdvice for finance leaders navigating transformation and changehttps://www.youtube.com/watch?v=cc2Zk4YdFxoLinksJustin Smith on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:04:32 Challenges faced by Justin in transitioning to the CFO role0:06:25 Key skills required for a modern CFO0:14:38 Top challenges faced by FinQuery in the current economic environment0:20:06 FinQuery's approach to data analytics and AI0:28:35 Challenges of communication and integration in a remote work model0:31:38 Advice for finance leaders navigating transformationFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net
210 Gen Z in Finance: Why Onboarding and Development Programs Must Evolve to Retain Top Talent with Marlo Lyonshttps://open.spotify.com/episode/55t2MygtVV9SBM2StJ2bTeAs the workforce continues to evolve, the emergence of Generation Z (Gen Z) has brought about a significant shift in the expectations and priorities of young professionals. In the finance industry, where the need for skilled and engaged talent is paramount, understanding and adapting to the unique characteristics of Gen Z has become a critical imperative for organizations. This podcast episode with Marlo Lyons, a C-Suite Coach and HR Business Partner, delves into the nuances of managing and retaining Gen Z employees, highlighting the importance of revamping onboarding and development programs to meet their evolving needs.The discussion underscores the importance of recognizing the distinct values and preferences of Gen Z, who place a strong emphasis on work-life balance, corporate social responsibility, and continuous learning and growth. As finance leaders grapple with the challenge of attracting and retaining top talent, this episode provides valuable insights into the strategies and approaches that can help organizations stay ahead of the curve and foster a thriving, engaged workforce.Key topics covered: Understanding the characteristics of Gen Z and their focus on work-life balance, corporate responsibility, and continuous learningChallenges faced by older generations in managing and communicating effectively with Gen Z employeesThe need to shift the interview process from competency-based to needs-based to better understand and accommodate Gen Z's aspirationsThe role of technology and Gen Z's tech-savvy nature in driving innovation and transformation within finance organizationsThe importance of aligning corporate mission, values, and sustainability efforts with the expectations of Gen ZThe significance of transparent communication, even when discussing confidential information, to build trust and engagementThe impact of remote work and flexible arrangements on fostering creativity and work-life balance for Gen Zhttps://www.youtube.com/watch?v=2eWNzZ0B8TULinksMarlo Lyons on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:01:04 - Marlo Lyons discusses the characteristics of Gen Z and their focus on work-life balance0:02:49 - Challenges faced by older generations in managing and communicating with Gen Z employees0:06:21 - The need to shift the interview process to better understand and accommodate Gen Z's aspirations0:07:10 - The role of technology and Gen Z's tech-savvy nature in driving innovation and transformation0:11:44 - The importance of aligning corporate mission, values, and sustainability efforts with Gen Z's expectations0:16:09 - The significance of transparent communication, even when discussing confidential information0:22:23 - The impact of remote work and flexible arrangements on fostering creativity and work-life balance for Gen ZFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net
209 Upskilling for Tomorrow: The Advisory-Driven Evolution of Accounting with Roger Knechthttps://open.spotify.com/episode/2k4TLteEXRIcFInGhqfaJXAs the accounting profession navigates the shifting landscape of compliance-driven services and the growing demand for strategic advisory, the need for upskilling has become paramount. Roger Knecht, the President of Universal Accounting and host of the "Building the Premier Accounting Firm" podcast, shares his insights on this critical transformation.In this insightful discussion, Roger and Kevin, explore the evolving role of the modern accounting professional. They delve into the commoditization of traditional services, the rise of CFO and advisory offerings, and the essential skills required to thrive in this new era. Knecht, a seasoned industry veteran with over 25 years of experience, provides a unique perspective on the changing dynamics within the accounting profession.The conversation highlights the importance of formalizing and pricing advisory services effectively, as opposed to offering them as an add-on to compliance-focused work. This shift in mindset and service delivery is crucial in ensuring that accounting professionals can meet the growing demands of their clients and remain competitive in the market. Knecht also emphasizes the need for accounting professionals to develop strong interpersonal skills, a non-judgmental approach, and the ability to ask the right questions to guide clients towards their own solutions, fostering trust and delivering meaningful value.Key topics covered: Roger Knecht's background as a podcaster and his journey at Universal AccountingThe distinction between compliance-focused services and the value-added advisory roleThe importance of formalizing and pricing advisory services effectivelyThe client's perspective and the benefits of a one-stop shop for accounting servicesThe interpersonal skills and mindset shift required for successful advisory engagementsThe impact of AI on the accounting profession and the need for accountants to become "prompters"The future outlook for the accounting industry and the role of human advisors in an AI-driven landscapehttps://www.youtube.com/watch?v=kjh74LPhX0w&t=393sLinksRoger Knecht on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps00:00:11 - Introduction of Roger Knecht and the Grow CFO Show00:00:44 - Roger Knecht's background and interests00:01:33 - Roger's journey into podcasting00:03:59 - Roger's 25-year tenure at Universal Accounting00:04:52 - Roger's non-accounting background00:05:57 - The evolution of accounting services and the rise of advisory00:10:11 - The distinction between tax preparation and tax planning00:13:13 - The ideal client size for CFO and advisory services00:14:45 - The need for upskilling in the accounting profession00:19:46 - The importance of asking the right questions as an advisor00:24:24 - The impact of AI on the accounting profession00:34:15 - The unique value of human advisors in an AI-driven landscape00:37:10 - The future outlook for the accounting professionFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net
208 Preventing ERP Project Failures: The Critical Role of Digital Adoption Platforms with Krishna Dunthoorihttps://open.spotify.com/episode/24N3pSvN3DJjXBCCQ3r4aOEnterprise Resource Planning (ERP) systems are mission-critical investments for large organizations, yet studies show that over 50% of ERP implementations fail to deliver the expected benefits. This staggering failure rate represents a significant waste of resources and a missed opportunity for companies to streamline operations and gain a competitive edge. In this episode of the Grow CFO Show, Krishna Dunthoori discusses the key factors behind ERP implementation challenges and how digital adoption platforms can be the solution.Krishna Dunthoori is Founder and CEO of Apty. After growing up in India, Krishna completed his undergraduate in computer applications, and finished his master’s in computer science in Germany. He then traveled to New York, Silicon Valley, and eventually Dallas, where he finally decided to build roots. Prior to founding Apty, Krishna worked as a principal architect and consulted for Fortune 500 companies implementing software tech stacks.Apty is a software value realization platform (also often referred to as a digital adoption platform, or DAP) that companies purchase along with major enterprise software packages to ensure better user adoption and ROI from their investments.Most digital transformations fail. As a global entrepreneur and former software implementation consultant for Fortune 500 companies, Krishna knows that a digital initiative doesn’t end after a platform goes live, and there are a lot of pitfalls on the way to rapid and successful adoption, which he discussed in his article titled: “Securing the ROI Horizon - How DAPs Translate ERP Investments Into Gains.”Krishna explains that the primary reasons for ERP failures often stem from human psychology and resistance to change. Employees accustomed to familiar processes can be reluctant to adapt to the complexity of new systems, leading to low user adoption and engagement. Traditional training methods, while well-intentioned, are typically one-time events that fail to provide the ongoing support and personalized guidance users require to effectively leverage the ERP's capabilities.Key topics covered: The high failure rate of ERP implementations and the associated costsThe role of human psychology and resistance to change in ERP adoption challengesLimitations of traditional training methods in driving sustained user engagementHow digital adoption platforms like Apty can provide personalized, in-app guidance and supportThe importance of measuring and improving business outcomes, not just implementing technologyApty's ideal customer profile: large enterprises with over 1,000 employees using complex softwarehttps://www.youtube.com/watch?v=pIkdirtE9PcLinksKrishna Dunthoori on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:00:00 - Introduction to the topic and guests0:01:41 - Reasons for ERP implementation failures0:06:56 - Limitations of traditional training methods0:11:45 - The benefits of personalized learning and user engagement0:19:20 - How Apty's digital adoption platform works0:27:56 - Measuring and improving business outcomes, not just technology0:39:09 - Apty's ideal customer profileFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit.
207 Authentic Personal Branding: Empowering Finance Professionals to Lead with Confidence with Susana Serrano-Daveyhttps://open.spotify.com/episode/3INMaL2iT2ikuMnrnGMXbYCultivating a strong personal brand is essential for finance leaders seeking to maximize their impact and fulfilment in the workplace. In this insightful discussion, GrowCFO Mentor Susana Serrano-Davey shares her expertise on how finance professionals can unlock greater confidence and career satisfaction by embracing their authentic selves.Susana emphasizes that personal branding is not about creating a facade, but rather about uncovering and communicating one's unique strengths, motivations, and qualities. The key highlights of this session include strategies for self-discovery, effective personal brand communication, and aligning professional choices with one's true passions and superpowers.Key topics covered: The importance of self-reflection to understand your superpowers and what truly inspires you, rather than just chasing prestigious job titles.Strategies for effectively communicating your personal brand, such as providing specific, substance-backed examples rather than broad statements.The role of appropriate attire in enhancing your confidence and professional presence.Balancing your strengths and weaknesses, and acknowledging both to build trust and credibility.The value of preparation and authenticity when presenting yourself, whether in interviews or other professional settings.https://www.youtube.com/watch?v=ntKdF6OrDtULinksSusana Serrano-Davey on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:02:37 - Susana explains the importance of discovering your authentic self and aligning your personal brand with your true motivations and strengths.0:07:04 - Discussion on the value of understanding and leveraging your unique strengths and superpowers.0:12:55 - Susana shares her personal experience of feeling trapped in a role that didn't align with her free-spirited nature.0:19:07 - Emphasis on effectively communicating your personal brand through specific, evidence-backed examples.0:26:49 - The role of appropriate attire in enhancing confidence and professional presence.Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net
206 Designing a Happier Career in Finance: Unlocking Your Superpowers with Lucia Knighthttps://open.spotify.com/episode/5tlIj233qNruLyGk2rUbZADesigning a happier, more fulfilling career is a critical concern for finance professionals navigating the challenges of linear career paths and feeling stuck in mid-level roles. In this episode, Lucia Knight, a Midlife Career Design Consultant and Co-Creator of The Fierce Emporium, shares her expertise on how finance leaders can intentionally craft careers that align with their unique strengths and interests, leading to greater job satisfaction and long-term career success.Many finance professionals, despite their impressive qualifications and experience, find themselves dissatisfied with their work, with studies showing that less than 50% of their time is spent on tasks they truly enjoy. This episode explores strategies to help these individuals break free from the constraints of traditional career trajectories and design roles that energize and inspire them.Key topics covered include:Lucia's personal journey from a "career coma" in financial recruitment to retraining as an occupational psychologist and uncovering the secrets of happier work.The importance of identifying and leveraging one's "superpowers" - activities that are deeply satisfying, energizing, and unique to the individual.Strategies for uncovering these superpowers, such as the 4-piece paper exercise to reflect on past work experiences.Aligning superpowers with problems that are genuinely interesting and valuable to others, rather than just moving to a different company or sector.The significance of strategic career planning, avoiding the "shiny object syndrome," and ensuring alignment between personal values and the organization's culture.Resources provided, including Lucia's website midlifeunstuck.com, to help finance professionals design their ideal careers.https://www.youtube.com/watch?v=IR26BGTXFK4LinksLucia Knight on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:01:01 - Lucia Knight's introduction and background in financial recruitment0:01:23 - Lucia's experience of a "career coma" and the realization that she hadn't learned anything new in years0:04:38 - The concept of "happy work" and the importance of finding deep satisfaction in one's work0:05:44 - Challenges finance professionals face in linear career paths and feeling stuck at mid-level roles0:09:46 - The importance of enjoying at least 75% of one's work time to feel satisfied0:10:47 - Identifying and leveraging unique "superpowers" - activities one loves, does easily, and that energize them0:13:38 - Examples of finance superpowers, such as translating words into numbers to tell a story and cutting through the noise to find solutions0:16:51 - Strategies for uncovering superpowers, such as the 4-piece paper exercise0:24:42 - Aligning superpowers with interesting problems that others need solved0:28:15 - The importance of strategic career planning and avoiding the "shiny object syndrome"0:31:57 - Ensuring alignment between one's values and the organization's lived values0:33:00 - Resources provided, including Lucia's website midlifeunstuck.comFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net
205 Amplify your personal and social impact with Catherine Marks and Alice Clementihttps://open.spotify.com/episode/2NTyMBWk0soOQsDm1yYhYgAmplifying personal and social impact is a crucial aspect of effective leadership in today's business landscape. In this episode of The GrowCFO Show, host Kevin Appleby delves into this topic with two esteemed guests: Catherine Marks, Finance Team Training Director, GrowCFO, and Alice Clementi, Co-Founder of Charterpath.The discussion centers around the importance of skills-based volunteering and the mutual benefits it can bring to both finance professionals and the nonprofit sector. Catherine Marks, who is also pursuing a master's degree in philanthropy, shares her insights on the multidimensional nature of impact and the role of intentional leadership. Alice Clementi, drawing from her own experience of volunteering and co-founding Charterpath, highlights the challenges faced by charities in finding skilled volunteers and the transformative impact that finance professionals can have.Key topics covered include:The definition and importance of personal and social impact in the corporate finance worldThe concept of skills-based volunteering and its advantages for both individuals and charitiesThe challenges and opportunities in aligning finance professionals with the right volunteering opportunitiesThe "Leading with Impact" partnership between GrowCFO and Charterpath, which aims to amplify the impact of finance leadersPractical advice for individuals interested in getting involved in volunteering and the benefits it can bringThe role of corporate support in enhancing the impact of skills-based volunteeringhttps://www.youtube.com/watch?v=wr1JvHMLVSQLinksCatherine Marks on LinkedIn Alice Clementi on LinkedIn Kevin Appleby on LinkedInGrowCFO MentoringTimestamps0:00:11 Introduction to the podcast and the guests0:00:53 Alice Clementi's background and journey to co-founding Charterpath0:03:54 Catherine Marks' involvement in the nonprofit sector and collaboration with Charterpath0:06:57 Catherine Marks' perspective on the definition and importance of impact0:10:02 The concept of skills-based volunteering and its advantages0:13:01 The benefits of volunteering for individuals0:19:27 Details on the "Leading with Impact" partnership between GrowCFO and Charterpath0:21:43 How the "Leading with Impact" program works in practice0:25:14 Importance of aligning volunteering with personal passions0:27:45 How corporates can get involved in the "Leading with Impact" program0:30:31 Charterpath's offerings and how to get involvedFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.You can find out more and join today at growcfo.net
204 Powering the Future: Finance’s Role in the Energy Transition with Nicolas Payenhttps://open.spotify.com/episode/3mVyLN3O1EEfDpiyFMm8UQIn this episode of the Grow CFO Show, host Kevin Appleby welcomes Nicolas Payen, the former CEO of Positive Energy Ltd, a climate FinTech company focused on renewable energy project financing. Payen brings a wealth of experience from his 15-year career in the energy industry, including his time at Schneider Electric, where he led an innovative IoT startup within the organization.Payen delves into the ongoing energy transition, highlighting the significant scale and pace of the shift from fossil fuels to sustainable energy sources across regions such as the US, Europe, China, and India. He emphasizes the crucial role of government policies and incentives in driving this transformation, citing examples like the Inflation Reduction Act in the US and the EU's renewable energy directives. Payen also explores the financial and investment implications of the energy transition, underscoring the importance of the CFO's role in enabling and managing the strategic decisions required to navigate this rapidly evolving landscape.Furthermore, Payen discusses the impact of the energy transition on talent recruitment and retention, particularly among younger generations who prioritize working for companies with strong sustainability practices. He shares compelling statistics demonstrating the preference of Generation Z for organizations with a green footprint, underscoring the need for effective communication and alignment between a company's financial and sustainability goals.Key topics covered include:Nicolas Payen's background in the energy industry, including his experience at Schneider Electric and as an entrepreneurThe energy transition from fossil fuels to sustainable energy sourcesThe scale and pace of the energy transition, with a focus on developments in the US, Europe, China, and IndiaThe role of government policies and incentives in driving the energy transitionThe financial and investment implications of the energy transition for companies and investorsThe importance of the CFO's role in enabling and managing the energy transition for their organizationThe impact of the energy transition on talent recruitment and retentionhttps://www.youtube.com/watch?v=u3zKtG0SCGYLinksNicolas Payen on LinkedInKevin Appleby on LinkedInGrowCFO MentoringTimestamps0:00:12 - Introduction to the topic of energy transition and Nicolas Payen's background0:01:06 - Nicolas Payen's background in the energy industry, including his experience at Schneider Electric0:03:25 - Challenges and lessons learned from Nicolas's experience at Schneider Electric0:06:44 - Nicolas's transition to entrepreneurship and the founding of Positive Energy0:11:01 - Overview of the state of the energy transition and decarbonization globally0:14:33 - Comparison of electric vehicle sales in the US and Asia0:15:21 - Energy transition developments in the UK and EU0:18:20 - China's role and investments in the energy transition0:24:10 - The CFO's role in enabling and managing the energy transition0:32:42 - The impact of rising interest rates on the energy transition0:39:10 - The importance of the energy transition for talent recruitment and retentionFind out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit.
#203 Counting More Than Cash: Can CFOs Handle Human Value? with Arjan Udding and Werner Schouten https://open.spotify.com/episode/4XDwgSdG36iRyx8uhedCK4In this episode of the GrowCFO Show, host Kevin Appleby engages in a thought-provoking discussion with Arjan Udding, Director Impact Institute, and Werner Schouten, Director Impact Economy Foundation. The conversation centres around the evolving role of the Chief Financial Officer (CFO) in the realm of sustainability.
The guests make a compelling case for the CFO to transition into a Chief Value Officer (CVO) role, emphasizing the need to balance the traditional focus on financial value with equal consideration for social, human, and natural value creation. They delve into the importance of impact accounting, a methodology that quantifies non-financial value and integrates it with financial metrics. Arjan and Werner share examples of European institutions, such as Rabobank and Triodos, that have successfully adopted impact accounting to inform their decision-making and long-term investment strategies.
Throughout the discussion, the speakers highlight the need for a harmonized, accessible language for impact reporting. This, they argue, is crucial for driving sustainable business practices and investment decisions across organizations of all sizes, as it enables a comprehensive understanding of the interconnected environmental, social, and governance (ESG) factors that shape a company’s long-term viability and societal impact.
Key topics covered include:
- Introduction and background of the guests, Arjan and Werner
- Debate on whether the finance leader should be called a CFO or CVO
- Role of financial metrics in sustainability and the need to expand them
- Integration of financial and non-financial metrics through impact accounting
- Examples of companies adopting impact accounting
- Challenges and opportunities in implementing impact accounting
- The broader impact of impact accounting beyond just ESG
- Conclusion and call to action for CFOs to embrace the role of Chief Value Officer
https://youtu.be/maxJKO35A7sLinks* Arjan Udding onLinkedIn * Werner Schouten on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 0:0:00 – 0:0:19 Introduction and background of the guests * 0:0:19 – 0:1:35 Debate on whether the finance leader should be called a CFO or CVO * 0:1:35 – 0:3:15 The need to redefine value beyond financial value * 0:3:15 – 0:6:00 Expanding financial tools to include social and environmental value * 0:6:00 – 0:7:30 The CFO’s role in owning the balanced scorecard * 0:7:30 – 0:12:30 Integrating financial and non-financial metrics through impact accounting * 0:12:30 – 0:16:00 Examples of companies adopting impact accounting * 0:16:00 – 0:20:00 Challenges and opportunities in implementing impact accounting * 0:20:00 – 0:22:30 The broader impact of impact accounting beyond just ESG * 0:22:30 – 0:24:00 Conclusion and call to action for CFOs to embrace the role of Chief Value Officer
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
202 How Does Corporate Legal Finance Work? with Jordan Lichthttps://open.spotify.com/episode/7gxFduDodLzWwcUMKr0rpV?si=nKOiLbeOT1m-TXDZ1wf7XwIn this episode of the Grow CFO Show, host Kevin Appleby sits down with Jordan Licht, the CFO of Burford Capital, to discuss the fascinating world of legal fundraising and litigation finance.
Jordan Licht’s career journey to becoming the CFO at Burford Capital is an interesting one. He transitioned from a 15-year background in investment banking and consulting to eventually taking on the CFO role, reconnecting with a former boss who had also joined Burford. This highlights the importance of maintaining professional networks and how serendipitous career paths can be.
The core focus of the discussion centers around Burford Capital and the unique world of litigation finance. Jordan provides an overview of how Burford invests in commercial litigation cases, sharing in the risk and reward. He explains Burford’s thorough underwriting process, the challenges of estimating case durations, and the benefits their capital and expertise can provide to clients. The conversation also touches on Burford’s global presence, their approach to building a non-law firm culture, and the complexities of funding and managing the company’s own capital requirements.
Beyond just traditional finance responsibilities, Jordan emphasizes the value of having diverse experience across sales, strategy, and operations. This broader understanding of the business, rather than just the finance function, has been crucial in his current role as CFO. Jordan discusses how this experience has helped him appreciate the symbiotic relationship between business operations and finance, and the dependencies that exist between the two.
Key topics covered include:
- Jordan Licht’s career journey to becoming CFO at Burford Capital
- Jordan’s diverse experience beyond traditional finance roles
- Overview of Burford Capital and litigation finance
- Burford’s investment process and client engagement
- Cash flow and fee structure in litigation finance
- Jordan’s role as CFO and building a non-law firm culture
- Burford’s global presence and client engagement
- Funding and capital management at Burford
https://www.youtube.com/watch?v=-yaJ0oH0uWULinks* Jordan Licht onLinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 0:0:12 – Introduction by Kevin Appleby * 0:0:48 – Jordan Licht’s introduction and background * 0:1:59 – Discussion on career networking and connections * 0:2:34 – Jordan’s previous roles before Burford Capital * 0:4:03 – The evolving role of a CFO * 0:5:01 – Explanation of Burford Capital’s business model * 0:7:07 – Litigation finance and its benefits * 0:10:05 – Underwriting and investment process * 0:11:58 – Win rates and case outcomes * 0:14:14 – Example of a litigation finance process * 0:16:49 – Financial and strategic benefits for companies * 0:18:11 – Jordan’s role as CFO at Burford Capital * 0:19:39 – Company culture and working with lawyers * 0:21:55 – Building the right company culture * 0:23:05 – Client engagement and partnerships * 0:24:50 – Global presence and operations * 0:25:35 – Size and structure of the finance team * 0:26:45 – Burford’s investment portfolio and capital sourcing * 0:28:37 – Closing remarks and appreciation
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
201 What Does a Best in Class Finance Team Look Like? with Sharon Barber-Lui, CFO, Teva Pharmaceuticalshttps://open.spotify.com/episode/0VINqaQdff5glvnpFNcKm4In this episode, we have the privilege of diving deep into the remarkable career journey of Sharon Barber-Lui, the Chief Financial Officer of Teva Pharmaceuticals. Sharon’s path from her roots in public accounting to leading a diverse team of 200 finance professionals at a global pharmaceutical company is nothing short of inspiring. As someone who has successfully navigated the complexities of the finance world, Sharon has amassed a wealth of knowledge on building high-performing teams. She emphasizes the foundational role of trust and a shared sense of purpose, as well as the relentless pursuit of continuous improvement, as cornerstones of effective leadership.
Sharon’s insights don’t stop there; she passionately advocates for finance leaders to transcend traditional roles and become strategic business partners. In her view, this involves harnessing cutting-edge technologies such as artificial intelligence and predictive analytics to not only streamline processes but to add tangible value to the business. She also champions the importance of diversity and inclusion in the workplace, urging leaders to broaden their candidate pools and engage in active outreach to cultivate a rich tapestry of perspectives and ideas.
Throughout this episode, Sharon shares her perspectives on the evolving role of the CFO as a strategic force within a company. She underscores the importance of delivering results while fostering a culture of innovation and collaboration. Join us as we explore how these principles can be applied to drive success in an ever-changing business landscape. Whether you’re an aspiring finance professional or a seasoned leader, Sharon’s experiences and insights offer invaluable lessons in leadership and growth.
Key topics covered include:
- Sharon’s career journey from public accounting to Merck and then to a small biotech company
- Her transition to the CFO role at Teva Pharmaceuticals and the structure of her 200-person finance team
- Challenges of managing a large finance team and creating a high-performing culture
- Defining the characteristics of a “best-in-class” finance team, including trust, shared purpose, and continuous improvement
- Sharon’s strategic priorities and leadership style when joining Teva Pharmaceuticals
- The importance of effective business partnering and connecting finance to the broader business
- Leveraging technology and analytics, including the role of AI, to drive insights and decision-making
- Emphasis on diversity and inclusion in building a high-performing finance team
- Strategies for finance teams to get involved in strategic discussions and decision-making
- The evolving role of the CFO and critical skills needed for the future
https://youtu.be/gLEdvD20oYwLinks* Sharon Barber-Lui onLinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 0:00:12 – Introduction of Sharon Barber-Lui, CFO of Teva Pharmaceuticals * 0:00:44 – Sharon’s career journey from public accounting to Merck and then a small biotech company * 0:03:32 – Transition to Teva Pharmaceuticals and the structure of her 200-person finance team * 0:04:55 – Challenges of managing a large finance team and creating a high-performing culture * 0:07:50 – Defining the characteristics of a “best-in-class” finance team * 0:10:02 – Distinction between a “high-performing team” and a “best-in-class” team * 0:11:00 – Importance of effective business partnering and connecting finance to the broader business * 0:15:40 – Leveraging technology and analytics, including the role of AI * 0:19:40 – The evolving role of the CFO and critical skills needed for the future * 0:21:26 – Emphasis on diversity and inclusion in building a high-performing finance team * 0:28:43 – Strategies for finance teams to get involved in strategic discussions and decision-making
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
200 The Profit-Boosting Power of Experiential Learning with Dan Wellshttps://open.spotify.com/episode/3ruJsTVOQGKn5VoiNSXXM4In this landmark 200th episode of The GrowCFO Show, hosts Kevin Appleby and Dan Wells celebrate a remarkable journey that began in August 2020. Over the years, the podcast has grown into a key resource for finance professionals worldwide. This special episode not only reflects on the show’s development but also reveals the launch of GrowCFO Premium and its innovative approach to experiential learning.
Dan Wells, Founder and CEO GrowCFO, introduces The World’s Leading Experiential Learning for Finance (ExLF) Programs, now available in an affordable, all-in-one subscription package! For just £195 a month, you can access 30+ LIVE training programs, including the highly sought-after FBP, FT, and FP&A boot camp workshops. Whether you’re an individual looking to advance your career or a corporate team aiming to enhance skills, this flexible program is designed to meet your needs.
For more information:
- ExLF for Corporates and Teams: Click here
- ExLF for Individuals: Click here
The subscription package bundles a variety of experiential learning programs, including boot camps and simulators, all led by top finance experts. With live, practical exercises and customization based on role, grade, and objectives, this package is perfect for finance professionals looking to gain new skills in a dynamic, hands-on environment. The program also meets CPD/CPE requirements, allowing professionals to integrate learning into their development plans seamlessly.
Offering global availability and multiple time zones, ExLF ensures that professionals from around the world can benefit from this transformational learning experience.
Key topics covered include:
- Introduction to The GrowCFO Show and celebration of 200 episodes
- Reflection on the journey since the first episode in 2020
- Explanation of experiential learning and its powerful benefits
- Announcement of the new ExLF package and its incredible value
- Customization and flexibility based on role, grade, and goals
- Coverage of a wide range of topics: technical, interpersonal, and commercial skills
- Importance of live, instructor-led training for meaningful learning outcomes
- Compliance with continuing professional development (CPD) requirements
- Global availability and time zone considerations
- Emphasis on peer group dynamics and support networks
- Next steps for individuals and teams to get involved
- Excitement for the future of finance learning
https://youtu.be/AUtOhsvkI6ALinks* Dan Wells onLinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 0:0:12 – Introduction to GrowCFO and the podcast’s 200th episode. * 0:1:03 – Reflection on the journey since the first episode in August 2020. * 0:2:27 – Explanation of experiential learning and its importance. * 0:3:20 – Discussion on the evolution of GrowCFO’s training programs. * 0:5:22 – Announcement of a new subscription package for experiential learning. * 0:6:42 – Details on the flexibility and customization of the new package. * 0:8:36 – Importance of role, grade, and personal objectives in learning. * 0:10:33 – Overview of the new package’s offerings and topics. * 0:12:25 – Accreditation and CPD/CPE credits for the courses. * 0:15:25 – The impact of engaged learning on business outcomes. * 0:17:32 – Benefits of practical, experiential learning. * 0:19:05 – Role of experienced facilitators in delivering courses. * 0:21:53 – Importance of peer groups and community in learning. * 0:23:09 – How individuals and teams can access the new package. * 0:25:42 – Global reach and time zone considerations for the programs. * 0:27:18 – Closing remarks and future outlook for GrowCFO.
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
199 How Do You Become CFO Ready? with Andrew Watershttps://open.spotify.com/episode/7cr1nXHLEdnbZ08i4oExuQIn this insightful episode, Kevin Appleby sits down with Andrew Waters, the esteemed co-founder of Zanda, to delve into the dynamic evolution of the Chief Financial Officer’s role over the past four years. As businesses navigate a post-lockdown world, the conversation reveals how CFOs have transitioned from a focus on transformation to leading the charge in sustainable growth and efficient cash flow management. Andrew and Kevin discuss the critical importance of soft skills in today’s financial landscape, such as resilience, agility, and storytelling, which are essential for CFOs to excel. The dialogue underscores the necessity for CFOs to blend entrepreneurial spirit with pragmatic decision-making, fostering an environment where finance leaders can thrive and drive substantial organizational impact.
Listeners will gain a deeper understanding of the regional nuances between New York and London CFO roles, with Andrew highlighting how New York’s financial leaders are often more strategically inclined and investment-ready. The episode also introduces the Future CFO program, a developmental initiative designed to equip finance leaders with the essential skills for future success in the CFO role. Furthermore, Andrew provides a preview of the upcoming Future CFO Strategy, Growth, and Impact Summit, where he will be speaking and offering a glimpse into sessions that promise to enhance leadership capabilities, optimize the finance function, and harness cutting-edge technology. You can register to join the summit here: https://future-cfo-global-summit.heysummit.com/talks/landing-your-dream-cfo-role/!
This episode is a must-listen for finance professionals eager to stay ahead in a rapidly evolving industry.
Key topics covered include:
- Catching up with Andrew Waters and the upcoming Future CFO Summit
- Evolution of CFO roles over the past 4 years
- Current and future skills required for CFOs
- Differences in CFO requirements between London and New York
- The importance of soft skills for CFOs
- The interview process for CFO roles
- Scaling the finance function
- Challenges faced by new CFOs
- Upcoming Future CFO Summit sessions
https://youtu.be/GhSPdeG2H3MLinks* Andrew Waters onLinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 0:0:00 – Introduction to the GrowCFO Show and guest Andrew Waters * 0:1:14 – Discussion about the Future CFO Summit and its significance * 0:2:23 – Evolution of the CFO role over the past four years * 0:7:41 – Broad skill set required for modern CFOs * 0:8:27 – Becoming CFO-ready: challenges and necessary skills * 0:13:37 – Overview of the Future CFO program and its benefits * 0:17:28 – Differences in CFO roles and expectations between the UK and US * 0:20:30 – Importance of the first 100 days in a new CFO role * 0:21:53 – Upcoming Future CFO Summit sessions and topics * 0:24:41 – Structuring the finance function and the importance of the right team * 0:26:37 – Challenges A players face in new CFO roles and dealing with imposter syndrome * 0:27:09 – Key issues in early CFO roles and overcoming them * 0:30:46 – Identifying A players through storytelling and communication skills * 0:33:21 – Conclusion and anticipation for the Future CFO Summit
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
198 How to Communicate with Confidence with Susana Serrano-Daveyhttps://open.spotify.com/episode/7cr1nXHLEdnbZ08i4oExuQKevin Appleby and Susana Serrano-Davey, GrowCFO Mentor, dive deep into the topic of communicating with confidence in this insightful episode. Susana, who is writing a book on confidence, shares her own experiences of overcoming nervousness in public speaking. She emphasizes the importance of stepping out of one’s comfort zone, whether it’s joining a public speaking club like Toastmasters or taking on a daunting challenge like a stand-up comedy course. The two discuss a range of techniques to enhance communication skills, from reducing the use of filler words to structuring presentations for maximum impact. Susana stresses the need to identify and challenge limiting beliefs about one’s communication abilities, a journey that Kevin himself has undertaken, moving from avoiding presentations to becoming a confident speaker.
The conversation also explores the significance of adapting communication styles to different audiences and personalities, as well as the role of ambition and continuous practice in building confidence. Susana and Kevin share valuable insights and personal anecdotes, providing listeners with a roadmap to improve their communication prowess and unlock their full potential as confident, impactful communicators.
Key topics covered include:
- Importance of confidence in communication
- Susana’s upcoming book on confidence
- Recommendation to join public speaking clubs like Toastmasters
- Susana’s experience overcoming nervousness in her first Toastmasters meeting
- Susana’s experience taking a stand-up comedy course
- Importance of stepping out of one’s comfort zone
- Techniques for effective communication
- Identifying and reducing the use of filler words
- Importance of slowing down and being clear in speech
- Effective presentation structure: introduction, main course, and conclusion
- Techniques for structuring presentations
- Importance of understanding the audience’s needs and preferences
- Adapting communication style to different personality types
- Importance of having ambitious goals to build confidence
- Identifying and challenging limiting beliefs about communication
- Importance of continuous practice and exposure to build communication skills
- Susana’s experience with Toastmasters and the impact on her confidence
https://www.youtube.com/watch?v=iSqBXYv3U1kLinks* Susana Serrano-Davey onLinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 0:00:10 – Introduction and welcome * 0:00:35 – Susana’s work on communicating with confidence * 0:01:11 – Susana’s experience with Toastmasters * 0:02:24 – Overcoming nervousness in public speaking * 0:05:29 – Stepping out of your comfort zone * 0:07:29 – Techniques for effective communication * 0:09:04 – Reducing the use of filler words * 0:11:05 – Kevin’s journey from avoiding presentations to becoming a confident speaker * 0:12:29 – Structuring presentations for maximum impact * 0:15:50 – Using visual aids effectively * 0:17:41 – Adapting communication to different audiences * 0:20:28 – Identifying and challenging limiting beliefs * 0:23:24 – Importance of practice and building confidence * 0:26:14 – Cultivating ambition and setting goals
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
197 Data Challenges Facing The Finance Function with Adam Rakichhttps://open.spotify.com/episode/0MX8X2ihqTsMURRfQPBBiSAdam Rakich, the esteemed author of “The Business User’s Guide to Data Integration,” joins us for a deep dive into the pressing issues surrounding data integration in the finance sector.
Adam is Senior Director, Strategic Alliances at DataBlend, a finance-focused integration platform as a service. Most of his career has been in technology companies serving the office of finance, in budgeting and forecasting, financial consolidation and reporting.
His experiences with the data challenges facing the finance function led him to write The Business User’s Guide to Data Integration (available on Amazon Kindle), a guide designed to help non-technical people understand their options for data integration, questions to ask, things to think about – and ultimately feel confident that they can solve their data problems.
In this episode, Adam brings his extensive expertise to the table, discussing the common challenges finance professionals face when it comes to integrating data across various platforms and tools. He sheds light on the necessity of a comprehensive approach to data integration, emphasizing how crucial it is for businesses to employ effective integration tools and platforms to streamline their operations.
Adam and Kevin also explore the transformative benefits of automating manual data processing in accounting. They discuss how automation can lead to significant time savings and improved efficiency, allowing finance professionals to focus on more strategic tasks. Additionally, the conversation covers the critical aspects of understanding the costs and potential risks associated with custom integration solutions, alongside the imperative need for accuracy and transparency in integration flows.
Key topics covered include:
- Data integration challenges in finance, particularly for accounting and reporting
- Automating manual accounting tasks to save time and reduce errors
- Automating data integration for timely reporting
- Custom vs. built-in integrations for software systems
- Integration flow best practices for data accuracy and synchronization
- Data integration challenges and strategies for business users
- Recommendation of Adam Rakich’s book “The Business User’s Guide to Data Integration”
https://www.youtube.com/watch?v=Lqoi9NhVdZMLinks* Adam Rakich on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps 0:00 – 0:35 Introduction and background of Adam Rakich * 0:35 – 1:30 Data integration challenges in finance * 1:30 – 3:15 Automating manual accounting tasks * 3:15 – 6:30 Automating data integration for timely reporting * 6:30 – 11:00 Custom vs. built-in integrations * 11:00 – 15:00 Integration flow best practices * 15:00 – 20:00 Data integration challenges and strategies for business users * 20:00 – 21:00 Recommendation of Adam Rakich’s book “*The Business User’s Guide to Data Integration”
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
196 The CFO Creating Culture in the Finance Function with Sam Divinehttps://open.spotify.com/episode/1PaK9XqCIqhS2zBH8bpuMqSam Divine, Founder of GrowthXel, joins Kevin Appleby, to delve into the pivotal role of the CFO in shaping culture within the finance function. The conversation underscored the importance of treating everyone fairly and respectfully, a principle deeply ingrained in Divine’s philosophy due to his upbringing during the Liberian Civil War. Both Appleby and Divine shared personal experiences that highlighted the necessity of adapting to circumstances beyond one’s control, emphasizing family, resilience, and adaptability as cornerstones of personal and professional development.
Their discussion further explored how these formative experiences influence career choices and the significance of being in the right place at the right time. Divine and Appleby stressed the value of luck and the importance of connecting with employees to understand and improve organizational culture. They highlighted how creating a culture that encourages innovation and equality within finance departments can drive success, showcasing the CFO’s unique position to foster an environment that not only supports financial goals but also nurtures a fair and dynamic workplace.
Key topics covered include:
- Sam discusses his early life in Monrovia, Liberia, and his experiences during the 1989 civil war.
- Highlights from Sam’s book, “Battlegrounds to Boardroom,” including key lessons on fairness and the non-reliance on material wealth.
- Sam’s educational journey to the United States and his career at prestigious firms like Grant Thornton and EY.
- Overview of GrowthXel’s consulting services, focusing on optimizing organizations and providing critical interim services for CFOs.
- Emphasis on the importance of culture within finance departments and how GrowthXel fosters strong connections and trust with clients.
- Strategies for CFOs to enhance team culture, stressing continuous process improvement and valuing every team member’s contribution.
- Discussion on the evolving role of the CFO, comparing it to a Secretary of State, necessitating a broader skill set beyond traditional finance functions.
- The critical role of curiosity for CFOs, enabling them to ask insightful questions and drive business improvements.
https://www.youtube.com/watch?v=VIY0cb1toCYLinks* Sam Divine on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 0:0:11 – Introduction to GrowCFO and the host, Kevin Appleby. * 0:1:00 – Introduction of guest Sam Divine, founder of GrowthXel. * 0:1:13 – Sam Divine’s backstory, growing up in Monrovia, Liberia, and experiencing the civil war. * 0:3:09 – Discussion of Sam’s book “Battlegrounds to Boardroom” and the life lessons learned during the civil war. * 0:7:41 – Sam’s transition to the United States for college and his early career. * 0:12:53 – Sam’s career choice to join Grant Thornton and his experiences there. * 0:14:46 – Sam’s move to Atlanta and his decision to join EY over Anderson. * 0:16:28 – Overview of GrowthXel’s consulting services for CFOs, including optimization and interim services. * 0:24:40 – Discussion on the importance of culture in the finance department and how CFOs can foster a positive culture. * 0:28:33 – Exploration of the evolving role of the new CFO and the importance of curiosity in the role.
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory,Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars.
Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here. You can find out more and join today at growcfo.net
195 How to Navigate Leadership with Catherine Clark, GrowCFO Mentorhttps://open.spotify.com/episode/11eo7ZWSRIHL77o1p1kWtXCatherine Clark, a seasoned GrowCFO mentor, joins Kevin Appleby to delve into the critical role of emotional intelligence in leadership. They explore how self-awareness is the foundation upon which successful leaders build their careers. By understanding their own emotions and triggers, leaders can better manage their responses and interactions with others. Catherine and Kevin emphasize that adaptability in communication styles is essential for fostering an inclusive and productive work environment, enabling leaders to connect more effectively with their teams and stakeholders.
The conversation also highlights the resilience required for leaders to navigate the inevitable challenges and setbacks they encounter. Catherine shares her experiences and strategies for maintaining composure and focus during turbulent times, underscoring the importance of aligning personal values and beliefs with the responsibilities of a Chief Financial Officer (CFO). By staying true to their core principles, finance leaders can make decisions that are not only strategic but also ethical, thereby earning the trust and respect of their colleagues and subordinates.
Key takeaways from this episode include the vital importance of self-awareness in leadership, the power of having a clear vision, and the impact of empowering others to achieve collective success. Catherine argues that effective CFOs and finance professionals should continuously develop these attributes to lead with confidence and authenticity. By doing so, they can inspire their teams, drive organizational growth, and foster a culture of collaboration and innovation.
Key topics covered include:
- The difference between managers and leaders, and how finance professionals can develop leadership skills beyond just managing a team.
- The importance of self-awareness, understanding your values and beliefs, and choosing the right environment to thrive as a leader.
- Navigating organizational culture and the challenges of trying to change it as a leader.
- Developing leadership qualities like personal power, effective communication, and overcoming task overwhelm.
- The role of emotional intelligence, resilience, and self-care in leadership.
- Change management and adapting communication styles to different stakeholders.
- The value of making time for personal recovery and growth as a leader.
https://youtu.be/G7_QdVCvyrcLinks* Catherine Clark on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 0:00:11 – Introduction and discussion of the difference between managers and leaders * 0:01:24 – Importance of self-awareness and choosing the right environment to lead * 0:02:27 – Navigating organizational culture and the challenges of changing it * 0:03:52 – Developing leadership qualities like personal power and communication * 0:07:09 – The role of emotional intelligence and resilience in leadership * 0:13:32 – Overcoming task overwhelm and delegating as a leader * 0:16:41 – Additional characteristics of great leaders * 0:24:36 – The importance of resilience and personal recovery for leaders
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory,Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars.
Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here. You can find out more and join today at growcfo.net
194 How Mozilla turns a profit and protects privacy with Eric Muhlheimhttps://open.spotify.com/episode/11eo7ZWSRIHL77o1p1kWtXIn this podcast episode, Eric Muhlheim, CFO, Mozilla, joins Kevin Appleby to provide a wealth of insights about the significance of being a thought partner to leadership, a role that transcends traditional financial oversight to actively shape strategic decisions. Their conversation shed light on navigating the journey to the CFO role, highlighting the crucial interplay between finance and accounting. They underscored the importance of maintaining a delicate balance between profitability and sustainability, particularly in multi-product companies where diverse revenue streams must be managed cohesively.
A focal point of their discussion was the value of storytelling in the CFO role. Appleby and Muhlheim emphasized how effective communication and a holistic perspective are key to articulating financial strategies and fostering alignment within the organization. They explored how a CFO must not only crunch numbers but also weave compelling narratives that resonate with various stakeholders, ensuring that financial goals support the broader mission and values of the company. This approach helps in building trust and driving informed decision-making across all levels of the business.
Furthermore, the conversation highlighted Mozilla’s unique business model, with a specific emphasis on open source AI and the transparency required in AI development. Muhlheim discussed how Mozilla’s commitment to openness and ethical practices in technology sets it apart in the industry. He emphasized the importance of transparency, not just as a corporate value, but as a fundamental principle in developing trustworthy AI solutions. By advocating for open source AI, Mozilla aims to foster innovation while ensuring accountability, thus contributing to a more equitable and transparent technological future.
Key topics covered include:
- Eric’s career path from Disney to Mozilla as CFO, highlighting his entrepreneurial experiences and technology focus.
- Mozilla’s unique business model as a hybrid of a for-profit and nonprofit company, relying on partnerships and search revenue to fund its mission of keeping the internet free and open.
- Mozilla’s strategies for revenue diversification, including privacy-preserving advertising, affiliate marketing, and direct-to-consumer products like VPNs and privacy tools.
- Eric’s approach to budgeting, cost management, and financial decision-making at Mozilla, balancing sustainability and profitability with the company’s nonprofit mission.
- Mozilla’s focus on open-source AI development to ensure transparency and accountability, and the potential risks of AI being trusted too much.
- Eric’s personal interests, including home brewing beer, and the parallels between his CFO role and his hobbies.
https://www.youtube.com/watch?v=D0Apku1v0QQLinks* Eric Muhlheim on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 0:00:10 – Introduction of Eric Muhlheim, CFO of Mozilla * 0:00:40 – Eric Muhlheim’s career path from Morgan Stanley to Disney and beyond * 0:06:17 – Explanation of Mozilla’s business model and revenue sources * 0:09:02 – Mozilla’s strategies for revenue diversification * 0:12:11 – Mozilla’s focus on privacy and security features in Firefox * 0:14:50 – Eric Muhlheim’s approach to budgeting and cost management at Mozilla * 0:20:06 – Mozilla’s strategies for emerging technologies like AI * 0:25:44 – Eric Muhlheim’s financial goals and priorities for the next 3-5 years * 0:29:09 – Eric Muhlheim’s personal hobbies and interests
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory,Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars.
Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here. You can find out more and join today at growcfo.net
193 Navigating My First Fundraise as Group CFO with Vineta Bajajhttps://open.spotify.com/episode/11eo7ZWSRIHL77o1p1kWtXIn this episode, we are honored to have Vineta Bajaj, the Group CFO of Rohlik Group and former executive at Ocado, as our guest. Vineta opens up about her personal and professional experiences across diverse environments, stressing the importance of owning one’s space and maintaining authenticity. Her insights are not only inspiring but also provide practical advice for navigating the complexities of leadership in today’s fast-paced business landscape.
Kevin enriches the dialogue by addressing the unconscious biases and challenges that female founders often encounter in fundraising and business operations. Kevin underscores the significance of personal development mentors like Michael Hipple, who play a crucial role in helping leaders transform challenges into opportunities. This discussion sheds light on the unique obstacles faced by women in the entrepreneurial world and offers valuable perspectives on overcoming these barriers through self-awareness and strategic thinking.
In the latter part of the episode, Vineta and Kevin pivot to the specific challenges associated with sustainable growth in the competitive online grocery market. They explore the demanding responsibilities of a CFO, particularly in formulating effective communication strategies with investors during fundraising efforts. Their combined expertise provides listeners with a comprehensive understanding of balancing sustainable growth with the intricate demands of financial leadership. This episode is a must-listen for anyone looking to gain deeper insights into the multifaceted role of a CFO and the evolving dynamics of the online grocery industry.
Key topics covered include:
- Vineta Bajaj’s career journey from KPMG to becoming the Group CFO of Rohlik Group, an online grocery company in Europe
- The challenges of fundraising for an online grocery business in a difficult market, including Vineta’s personal struggles with preparing for the fundraise
- Tips for identifying and selecting the right investors for a growing business
- The financial restructuring challenges faced by businesses in the current environment, and the importance of emotional detachment in decision-making
- Vineta’s passion for empowering female founders and overcoming biases in the business world
https://www.youtube.com/watch?v=oyBHBGqNa7sLinks* Vineta Bajaj on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps 0:10 – Introduction by Kevin Appleby, highlighting GrowCFO as a platform for finance leaders. * 0:40 – Vineta Bajaj expresses gratitude for being invited to the podcast. * 0:46 – Vineta shares her professional background starting from her accounting degree to her experience at KPMG. * 1:14 – Discusses various roles and accomplishments at Kerry Group and subsequent career transitions. * 2:12 – Vineta highlights her move to the UK, joining the company Catelogue, and her journey leading to becoming Group CFO at Rohlik Group * 3:39 – She elaborates on challenges faced in the current market and how their company has managed growth. * 5:38 – Describes personal and professional challenges during the fundraising process. * 8:26 – Talks about preparing for meetings with investors, focusing on understanding key business metrics. * 10:07 – Discusses balancing precision with the broader financial picture when dealing with investors. * 11:22 – Reflects on leveraging her team more effectively during the fundraising process. * 13:10 – Shares strategies for identifying and selecting the right investors with the help of external financial advisors. * 15:30 – Addresses the current difficult market conditions and consolidation within the industry. * 18:09 – Discusses the importance of emotional detachment when making restructuring decisions. * 21:03 – Vineta reveals her passion for mentoring and investing in small businesses, especially those led by female founders. * 22:12 – Talks about personal experiences with sexism, racism, and ageism in her career, advocating for owning one’s space. * 25:27 – Concludes with a powerful message about internal power and determination to succeed regardless of obstacles. * 26:48 –* Kevin Appleby wraps up the conversation, thanking Vineta for her insights.
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory,Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars.
Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here. You can find out more and join today at growcfo.net
192 Is Confidence Overrated? with Susana Serrano Daveyhttps://open.spotify.com/episode/3AhymCRjlMx44VZFkFNdUuIn this latest episode, Kevin Appleby is joined by Susana Serrano-Davey, a renowned speaker and expert in personal development, to delve into the pervasive issue of confidence challenges that many individuals face in both personal and professional settings. This episode is particularly insightful as it addresses the unique hurdles that women often encounter regarding confidence.
Susana brings a wealth of experience and knowledge to the table, offering practical strategies to combat symptoms of low confidence, such as self-doubt and negative self-talk. She emphasizes the critical role that body language, voice modulation, and choice of words play in projecting confidence and credibility, especially in virtual communication environments which are becoming increasingly prevalent.
Throughout their discussion, Kevin and Susana share actionable tips for improving one’s virtual communication skills. They highlight the significance of maintaining eye contact, even through a camera, and using appropriate gestures to reinforce messages. Additionally, they discuss techniques for recomposing emails to ensure they convey confidence and professionalism.
Key topics covered include:
- Confidence challenges, particularly among women in the workplace
- Susana Serrano-Davey’s personal experiences with lacking confidence and overcoming it
- Strategies for dealing with moments of low confidence, such as addressing negative self-talk and body language
- Improving confidence in virtual meetings through preparation and self-reflection
- Building confidence and self-awareness through tools like journaling and strengths-based assessments
- The importance of self-acceptance and a balanced self-assessment in overcoming confidence challenges
https://www.youtube.com/watch?v=xrfgot–il4&t=15sLinks* Susana Serrano-Davey on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps 0:00 – 0:11: Introduction to GrowCFO * 0:11 – 0:41: Welcome and introduction of Susanna Serrano-Davey * 0:41 – 2:21: Susanna’s personal example about confidence * 2:21 – 3:29: Discussion on the perception of confidence * 3:29 – 4:57: Confidence challenges in both men and women * 4:57 – 7:28: Dealing with lack of confidence and being brave * 7:28 – 8:06: Mention of Katherine Clark and “Feel the Fear and Do It Anyway” * 8:06 – 9:07: Symptoms of lack of confidence * 9:07 – 11:01: Language and body language as symptoms * 11:01 – 12:19: Addressing symptoms through body language and voice * 12:19 – 13:26: Online meetings and confidence tips * 13:26 – 14:52: Using podcasting to improve speaking confidence * 14:52 – 15:56: Preparation and improvisation * 15:56 – 17:08: Neuroplasticity and positive thinking * 17:08 – 19:00*: Personal reflection and balanced confidence
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory,Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars.
Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here. You can find out more and join today at growcfo.net
191 Rebuilding value after an administration with Oliver LeeOliver Lee, the CFO at Flash Pack, sits down with Kevin Appleby to discuss his career journey and the challenges of leading a travel start-up through the COVID-19 pandemic. The discussion begins with Oliver’s background in public accounting and a previous start-up role that did not unfold as planned.
Oliver recounts Flash Pack’s impressive growth trajectory prior to the pandemic, scaling from inception to over $20 million in revenue within a few years. However, the onset of COVID-19 necessitated a shift to “survival mode,” entailing cost reductions and staff furloughs as bookings plummeted. The company ultimately entered administration in 2020, but the founders managed to repurchase the assets and relaunch the business in late 2021.
The conversation highlights the strategies employed by Oliver and his team to rebuild Flash Pack, with an emphasis on maintaining strong supplier relationships through transparency and communication. This approach successfully re-engaged 95% of their suppliers post-administration.
Oliver underscores the critical importance of securing funding, noting that an institutional investor’s capital injection was essential for the company’s relaunch and growth. The management team’s proven track record and reputation were pivotal in attracting this investment despite the challenges faced.
As the business transitioned from “wartime CFO” to a growth-focused “peacetime” strategy, Oliver discusses overcoming excessive risk aversion and embracing calculated risks to propel the company forward. Looking ahead, the episode explores substantial expansion opportunities, particularly in the US market, while addressing the scaling challenges such as investing in talent and building the necessary organizational structure to support growth.
Key topics covered include:
- Oliver Lee’s career progression and challenges in the start-up world, including his experience as CFO at Flash Pack.
- How Flash Pack, a solo travel company, adapted to market changes and survived the COVID-19 crisis.
- The strategies used to rebuild the business after going into administration, with a focus on maintaining supplier relationships.
- The importance of funding, management team reputation, and calculated risk-taking in driving growth for a start-up.
- The transition from “wartime CFO” to “peacetime CFO” and the mindset shift required to focus on growth strategies.
- Opportunities for expansion, particularly in the US market, and the scaling challenges faced by the business.
- The role of people and talent management in driving the company’s growth and success.
https://youtu.be/0rZ99mND7fcLinks* Oliver Lee on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 0:00:11 – Introduction of Kevin Appleby and Oliver Lee * 0:00:36 – Oliver Lee’s background and career history * 0:01:32 – Oliver Lee’s role at Flash Pack and the impact of COVID-19 * 0:03:02 – Description of Flash Pack’s business model and target market * 0:05:12 – Challenges faced by the business during the COVID-19 pandemic * 0:09:01 – The process of buying back the assets of the business after administration * 0:11:43 – Rebuilding the business and relaunching in November 2021 * 0:14:10 – Securing funding for the relaunch and growth * 0:17:51 – Transitioning from “wartime CFO” to “peacetime CFO” and the mindset shift * 0:24:50 – Strategies for growth and expansion, particularly in the US market * 0:32:35 – Lessons learned about people and talent management * 0:35:38 – Oliver Lee’s vision for the future and scaling the business
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory,Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars.
Premium members can also access our extensive training centre and CFO Digital Toolkit. You can enrol in our flagship Future CFO or Finance Leader programmes here. You can find out more and join today at growcfo.net
190 Developing the next generation of leaders with Dan SilberbergLeadership development is crucial in today’s rapidly changing business landscape. Guest speaker Dan Silberberg, CEO and Founder of ENTELECHY.Al, a premier provider of customized leadership development programs, joined host Kevin Appleby for the discussion.
Silberberg, a highly experienced executive with a proven track record of transforming operations across multiple industries, outlined the evolving demands placed on leadership. They noted the shift from the hierarchical structures prevalent in the 20th century workplace to today’s emphasis on adaptability and holistic strategic thinking.
They stressed the importance for executives to thoroughly understand their strengths, leadership style, and potential areas for growth through self-reflection. This allows individuals to maximize performance and overcome challenges. Innovative approaches to stimulate organizational development were also presented.
They explored how entering new product categories can drive growth in consumer industries. Artificial intelligence was framed as a competitive differentiator when integrated into core functions like decision-making, productivity enhancement, and risk management. Younger, growth-oriented companies were advised by Silberberg to experiment through prudent risk-taking to sustain innovation momentum.
With technological change accelerating rapidly, they emphasized the value executives place on questioning assumptions with an open mindset. The role of the CFO in prioritizing AI initiatives and collaborating across organizations for staff training was also a prominent topic.
Key topics covered include:
- Differences between 20th century and 21st century leadership, with a focus on developing adaptability and holistic thinking.
- Challenges of leadership in a rapidly changing world, and the importance of relationships over hierarchy.
- Personal growth and leadership development through self-awareness and storytelling.
- Unleashing personal genius and innovating to drive business growth.
- Leveraging AI for competitive advantage, and how CFOs can prioritize AI adoption for decision making, productivity, and risk mitigation.
- Thinking differently and embracing failure to stay innovative, especially for faster-growing companies.
https://youtu.be/N0PUYH7z9gALinks* Dan Silberberg on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 0:00:11 Introduction * 0:00:40 Speaker 1 introduces themselves * 0:02:39 Discussion on 20th century vs 21st century leadership * 0:10:21 Discussion on different leadership styles * 0:11:00 Attributes of a next generation leader * 0:13:19 Unleashing personal genius and identity * 0:17:32 Identifying and using personal genius * 0:21:00 Example of innovating in consumer products industry * 0:23:52 Leveraging AI for competitive advantage * 0:28:05 Adopting AI and challenges of keeping up with innovation * 0:32:55 Importance of thinking differently * 0:33:30 Summary and closing remarks
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars.
Premium members can also access our extensive training centre and CFO Digital Toolkit. You can enrol in our flagship Future CFO or Finance Leader programmes here. You can find out more and join today at growcfo.net
Kevin Appleby and Rachel Anevski discuss the importance of collaboration between the CFO and HR departments for organizational development and infrastructure. Rachel emphasizes the crucial role of HR in providing fractional human resource executives to support business growth. They also cover the roles of CFOs and CHROs in managing people and payroll, emphasizing the need for a separate role to handle these aspects of the business. They also discuss the urgent need for finance teams to adapt to digital transformation, AI, and an aging workforce, highlighting the importance of reskilling and upskilling the finance team to remain competitive.
Key topics covered include:
- The roles of the CFO and CHRO, and how they should collaborate on areas like culture, recruitment, retention, and people management strategies.
- How fractional CHROs can help reduce the workload on CFOs by taking over tasks like payroll administration and providing strategic HR insights.
- The impact of finance transformation and AI on the finance team, and the need to upskill/reshape teams through collaboration between CFOs and CHROs.
- Challenges in retaining and recruiting talent for the finance industry due to a lack of cultural alignment, perceptions of the industry, and insufficient investment in retraining and developing employees.
- Potential tensions between CFOs and CHROs due to CFOs’ focus on control and segregation of duties versus CHROs’ partnership approach.
https://www.youtube.com/watch?v=DWGVDxWS_RULinks* Rachel Anevski on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 0:00-0:03:11 – Introduction and speaker backgrounds * 0:03:11-0:06:11 – CFO’s role in managing people and potential issues * 0:06:11-0:09:18 – How CFOs and CHROs should collaborate and fractional CHRO benefits * 0:09:18-0:11:57 – Impact of finance transformation on finance teams * 0:11:57-0:14:32 – Aging workforce challenges in finance and potential for retraining * 0:14:32-0:16:46 – Recruitment and retention issues for the finance industry * 0:16:46-0:21:23 – Reasons for high turnover rates and negative perceptions of finance careers * 0:21:23-0:25:14 – Importance of investing in employee development * 0:25:14-0:28:57 – Potential tensions between CFO and CHRO roles due to mindsets * 0:28:57-0:30:06 – Importance of CFO-CHRO collaboration
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars.
Premium members can also access our extensive training centre and CFO Digital Toolkit. You can enrol in our flagship Future CFO or Finance Leader programmes here. You can find out more and join today at growcfo.net
Kevin Appleby and Lee share their insights on navigating the sales world, emphasizing the importance of listening, enthusiasm, and adaptability. They discuss their career paths and the value of relating to customers and understanding their needs. The conversation also covers the evolution of invoicing from traditional methods to digitalization, the importance of standardizing business processes to streamline operations, and the potential for cost savings and improved cash flow through technology and strategic partnerships.
Key topics covered include:
- Lee’s career journey from art school to sales, and what he learned about listening being more important than talking.
- The evolution of invoicing from paper to digital formats, and the challenges this created for managing multiple data and delivery requirements from buyers.
- How integrating accounts payable and receivable can streamline invoice processing and create synergies.
- Corcentric’s unique order-to-cash solution that combines people, process, technology and funding to guarantee a DSO result.
- Insights from CFO roundtables on the changing CFO role, priorities, pain points and challenges of managing teams and stakeholders.
- Whether automation and AI will truly displace large numbers of finance jobs, or simply enhance productivity by automating manual tasks.
https://youtu.be/JGKwr0RM5NILinks* Lee Allen on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 0:00:11 – Introduction and guest introduction * 0:00:49 – Lee discusses his career journey from art school to sales * 0:10:15 – Evolution of invoicing and challenges of digital transformation * 0:11:50 – Integrating accounts payable and receivable * 0:13:11 – Corecentric’s unique order-to-cash solution * 0:19:20 – Shared services and outsourcing accounting processes * 0:25:40 – Insights from CFO roundtables on challenges and pain points * 0:31:55 – Changing CFO role, technology challenges and people management * 0:35:55 – Impact of AI on finance roles and automation of tasks
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars.
Premium members can also access our extensive training centre and CFO Digital Toolkit. You can enrol in our flagship Future CFO or Finance Leader programmes here. You can find out more and join today at growcfo.net
Kevin Appleby and Alan Gonsenhauser discuss the importance of collaboration between CMOs and CFOs in aligning metrics and growth strategies. They emphasize the need for a common understanding of modern marketing and its value to the organization, as well as establishing a customer culture within the business. They also discuss the importance of using data to drive business growth, including predictive KPIs, measuring and optimizing customer lifetime value and retention, and aligning marketing strategies with financial objectives. Cross-functional alignment and clarity on what marketing is not going to focus on are also highlighted as key to growth.
Key topics covered include:
- The importance of collaboration between CMOs and CFOs in areas like setting KPIs and metrics, measuring marketing ROI, optimizing marketing spend, and managing risks.
- The evolving roles of CMOs and CFOs, and how they can strengthen their relationship by understanding each other’s perspectives.
- The importance of customer-led growth strategies and metrics like Net Promoter Score in driving long-term value.
- Developing marketing strategies that consider both short-term and long-term budget planning for growth and profitability.
- Understanding different personality types and communication styles to improve collaboration across teams.
- How finance and marketing functions can work together to establish a shared understanding of success and a customer-led culture.
https://youtu.be/xdioRCNweGYLinks* Alan Gonsenhauser on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 0:00-0:12 – Introduction * 0:12-0:48 – Alan Gonsenhauser introduces himself and his background * 0:48-1:06 – Alan Gonsenhauser discusses the relationship between CMOs and CFOs * 1:06-1:20 – Kevin Appleby asks about measuring marketing ROI * 1:20-5:10 – Alan Gonsenhauser outlines 5 areas of CMO-CFO collaboration and discusses customer-led growth * 5:10-5:56 – Kevin Appleby and Alan Gonsenhauser discuss KPIs vs key results indicators * 5:56-7:34 – Alan Gonsenhauser distinguishes different types of metrics * 7:34-10:24 – Discussion on Net Promoter Score and customer satisfaction * 10:24-12:23 – Collaboration on growth strategies, budget planning and cost-cutting * 12:23-14:10 – Alignment across functions and saying no in strategy * 14:10-16:23 – Zero-based budgeting and turnaround strategies * 16:23-18:13 – Leveraging customer data and investment areas * 18:13-19:26 – Additional growth levers and productivity * 19:26-21:01 – Evolving CMO and CFO roles * 21:01-23:37 – Strengthening CMO-CFO relationship and customer culture * 23:37-25:03 – Finance team adopting customer-led mindset * 25:03-31:39 – Personality types, communication styles and presentations * 31:39-34:05 – Becoming a successful CMO or CFO
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars.
Premium members can also access our extensive training centre and CFO Digital Toolkit. You can enrol in our flagship Future CFO or Finance Leader programmes here. You can find out more and join today at growcfo.net
Kevin Appleby and Bill Genovese discussed the convergence of digital technologies between the CFO and CEO/IO roles, emphasizing the importance of collaboration between these two roles. Kevin Appleby and a Unknown Speaker later discussed the importance of cost avoidance, cybersecurity, and cultural change in navigating digital transformation, highlighting the need for organizations to adapt to new technologies and ways of thinking. Both conversations emphasized the value of collaboration and sharing experiences to better navigate the complexities of digital transformation.
Key topics covered include:
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- An overview of Bill Genovese’s background in financial services and technology consulting
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- The concept of digital convergence and how technologies overlap to solve business problems
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- Examples of how ERP systems evolved to integrate finance functions
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- The CFO-CIO partnership in regulatory compliance projects like Basel II
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- Opportunities for cost avoidance and cloud strategies through legacy modernization
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- Cybersecurity considerations like the zero trust architecture
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- Emerging technologies like quantum computing and associated risks
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- When a company should consider hiring a dedicated CIO/CTO role
- The importance of culture and mindset for successful digital transformation
https://www.youtube.com/watch?v=a8ABQhD9miI&t=10s
https://www.youtube.com/watch?v=a8ABQhD9miI&t=10sLinks* * + Bill Genovese on LinkedIn * + Kevin Appleby on LinkedIn * + GrowCFO Mentoring
Timestamps* * + 0:00:11 Introduction and welcome * + 0:00:48 Bill Genovese introduction * + 0:00:51 Bill discusses his background * + 0:03:49 Kevin shares experience at IBM * + 0:04:04 Continued discussion of Bill’s background at IBM * + 0:05:01 Kevin recalls experience leaving IBM * + 0:05:28 Bill defines digital convergence using overlapping circles diagram * + 0:07:05 Discussion of technology convergence e.g. smartphones * + 0:07:20 Bill shares he still has an original Palm Pilot * + 0:07:31 Kevin agrees about going back to old technologies * + 0:09:39 Kevin discusses finance systems integrating from other systems * + 0:11:36 Bill discusses ERP implementations in early 2000s * + 0:12:36 Kevin discusses ongoing issues with budgeting/forecasting * + 0:13:21 Discussion of better budgeting solutions from early 2000s * + 0:14:38 Kevin introduces discussing CFO-CIO partnerships * + 0:14:46 Bill discusses regulatory compliance projects * + 0:17:50 Kevin agrees on spending money intelligently * + 0:18:10 Bill discusses his relationship with CFOs * + 0:19:56 Discussion of multi-cloud strategies and related risks * + 0:20:50 Kevin raises security concerns about multi-cloud * + 0:24:48 Bill discusses zero trust architecture and quantum risks * + 0:25:14 Bill’s view on when a company needs a CTO role * + 0:26:11 Discussion of Bill’s CFO Tech Outlook article * + 0:26:50 Bill discusses other publications and viewpoints * + 0:28:51 Discussion of Bill’s experience in China * + 0:30:09 Kevin thanks Bill for the discussion
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars.
Premium members can also access our extensive training centre and CFO Digital Toolkit. You can enrol in our flagship Future CFO or Finance Leader programmes here.
You can find out more and join today at growcfo.net
Greg Kautz and Kevin Appleby discussed the challenges of lease accounting and the need for technology to streamline these processes. Greg highlighted the benefits of automating lease accounting, while Appleby questioned the need for separate accounting rules for lessees and lessors. Later, the pair discussed the benefits of leasing assets for business growth, emphasizing the importance of considering leasing as an option for expansion. Finally, they discussed the challenges of fundraising in the current market, with Greg sharing their company’s journey and Appleby providing insights on market conditions.
Key topics covered include:
- Greg Kautz’s career transition from finance leadership roles to co-founding a lease accounting software company with his son
- An overview of the lease accounting software they developed called Black Owl Lease Accounting, which aims to solve issues with existing solutions
- A discussion of lease accounting standards and why lease accounting is important for businesses
- How they developed the initial prototype, hired staff, and grew the company
- Challenges they faced finding the right technical staff
- Their plans for future fundraising, global expansion, and growth of the company
- Reminiscing about the early days of accounting before technology from Kevin Appleby and Greg Kautz’s perspective
https://youtu.be/gCOyz10LBp4
Links* Greg Kautz on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* 0:00 – Introduction of Greg Kautz and his career transition * 4:20 – Overview of lease accounting software Black Owl Lease Accounting * 7:30 – Discussion of lease accounting standards and importance for businesses * 11:00 – Developing the initial prototype and hiring staff * 14:15 – Challenges finding the right technical staff * 17:10 – Future fundraising plans and market growth * 19:50 – Reminiscing about early accounting days before technology * 26:50 – Selling the software to CFOs and other buyers * 29:15 – Greg Kautz’s future plans and not retiring anytime soon
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars.
Premium members can also access our extensive training centre and CFO Digital Toolkit. You can enrol in our flagship Future CFO or Finance Leader programmes here.
You can find out more and join today at growcfo.net
Catherine Clark and Kevin Appleby discussed the importance of addressing personal and professional growth through holistic mentoring, emphasizing the role of emotional intelligence in decision making and relationship dynamics in business. Catherine is head of mentoring at GrowCFO. She frequently supports her mentees when they need to have a difficult conversation.
Key topics covered include:
- Catherine Clark’s holistic approach to mentoring, which involves unlocking a mentee’s personal potential and limiting beliefs to enable professional success.
- The importance of self-care, resilience, and mindfulness for professionals, and creating recovery time and daily routines to stay balanced.
- Active listening techniques and authentic relating that Kevin and Catherine apply in their consulting and mentoring work.
- The value of meditation, reflection, and forgiveness in personal growth and accessing inner wisdom and creativity.
- Finding gratitude even in past struggles and applying lessons learned.
- Catherine Clark’s journey with Reiki and emphasizing energetic connection and self-healing.
- Strategies for starting the day in a calm, focused state through activities like meditation and dog walks to boost productivity.
https://youtu.be/7EsU8F9mTuQLinks* Catherine Clark on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Mentoring
Timestamps* Mentoring and unlocking personal potential for professional success. 0:11 * The importance of self-care, resilience, and mindfulness in professional settings. 7:26 * Mentoring, coaching, and personal growth. 15:41 * Personal growth, energy, and gratitude. 23:07 * Meditation, mindfulness, and productivity. 27:38
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars.
Premium members can also access our extensive training centre and CFO Digital Toolkit. You can enrol in our flagship Future CFO or Finance Leader programmes here.
You can find out more and join today at growcfo.net
Stephen Campbell, founder and chief solution architect at MacroFin, joins Kevin Appleby to discuss best practices for ERP implementation success. They share their experiences transitioning from accounting to technology consulting and implementation. Key topics covered include:
- Common challenges clients face when outgrowing systems like Xero and the decision process for selecting a new ERP
- Best practices for vendor selection and simplifying often lengthy and complex RFP processes
- Tips for effective project scoping and limiting implementation risks through shorter 90-day phases
- Emphasis on user training and testing to ensure knowledge transfer and benefits realization
- Advice on identifying super users and continual process improvement post go-live
- Perspectives on technology hype vs reality and potential for streamlining accounting through automation
- High failure rates of ERP projects and how to avoid pitfalls through proper preparation and change management
Stephen will present on delivering impactful finance transformations at the upcoming GrowCFO Global Finance Summit on May 16th.
https://youtu.be/cMtkZHhmNYwLinks* Stephen Campbell on LinkedIn * Kevin Appleby on LinkedIn * MacroFin * GrowCFO Finance Transformation Bootcamp * GrowCFO Global Finance Summit
TimestampsIntroducing Stephen Campbell and MacroFin (0:11)
ERP implementation best practices and process reviews. (5:08)
Choosing an ERP system for growing businesses, focusing on NetSuite and Xero. (9:18)
The importance of simplifying the RFP process (13:24)
Implementing NetSuite ERP system with a focus on knowledge transfer and testing. (17:56)
Streamlining accounting processes with technology. (23:06)
ERP implementation challenges and best practices. (27:35)
Implementing NetSuite ERP system with a focus on process improvement and vendor selection. (31:35)
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars.
Premium members can also access our extensive training centre and CFO Digital Toolkit. You can enrol in our flagship Future CFO or Finance Leader programmes here.
You can find out more and join today at growcfo.net
Timothee Clement. USA Country Manager at Agicap joins Kevin Appleby on the GrowCFO Show as they discuss the business case for introducing specialist cash flow forecasting technology. Timothee is a returning guest, he discussed implementing cash flow forecasting in episode 119. In this episode he discussed the business case for investing in cash flow forecasting technology with podcast host Kevin Appleby.
Timothy explained how most companies still rely on error-prone spreadsheets due to the complexity of forecasting. This leads to inaccurate projections and a lack of visibility. By freeing up time spent on manual processes, finance teams can focus on optimizing cash flow through more accurate forecasting.
Kevin and Timothee evaluated the ROI of implementing a specialized system like Agicap. Costs are low compared to labor savings. Benefits include interest savings, investment gains, and allowing finance to partner strategically. ERP systems aren’t designed for flexibility and scenarios required for forecasting.
They explored implementation process and timeline. Connecting data sources is quick due to open banking. Training occurs throughout. Risks include lack of stakeholder buy-in, so change management is crucial. Overall, a compelling case emerged for digital transformation in this area to empower finance teams.
Timothee Clement is a featured speaker at the GrowCFO Global Finance Summit on 15/16 May 2024
https://youtu.be/o_xZMi7XOAQLinks* Timothee Clement on LinkedIn * Kevin Appleby on LinkedIn * Agicap cash flow management software * GrowCFO Show #119: How to Implement a Cashflow Forecasting system with Timothee Clement, * GrowCFO Global Finance Summit
TimestampsIntroducing the business case for cash flow technology(0:11)
Optimizing cash flow and reducing costs through advanced forecasting. (4:13)
Improving financial decision-making? (10:21)
What implementation options are available. (18:32)
Managing the digital transformation (26:29)
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars.
Premium members can also access our extensive training centre and CFO Digital Toolkit. You can enrol in our flagship Future CFO or Finance Leader programmes here.
You can find out more and join today at growcfo.net
Randy Wootton is an experienced technology executive with over 20 years of experience in corporate leadership roles. He joins Kevin Appleby as a guest on the GrowCFO Show ahead of appearing as a panellist at the GrowCFO Global Finance Summit. He has served as CEO of three startups: Rocket Fuel, Percolate, and Maxio. Randy spent 8 years in the U.S. Navy before transitioning to the corporate sector with Microsoft and Salesforce. He holds an MBA from Harvard Business School and a Master’s in Great Books.
At Maxio, Randy leads a business that helps B2B SaaS companies unlock their next stage of growth. Maxio’s Billing and Financial operations platform is designed to meet the unique financial challenges of B2B SaaS companies. This includes billing, subscription management, revenue and expense recognition, and SaaS analytics.
Throughout his career, Randy has developed expertise in go-to-market strategies and helping technology companies scale. He advocates using AI to transform industries like marketing, finance, and accounting. He is passionate about leveraging technology to solve business problems and drive efficiency.
In conversation with Kevin, Randy discussed his experiences with AI and machine learning, including using it at a previous company for programmatic advertising. He shared how he now uses AI tools like ChatGPT to research and write articles. Randy and Kevin also discussed AI’s potential impacts on industries like content creation, accounting, and finance. Specifically, they touched on how AI could address labor shortages in accounting by automating data processing and freeing up professionals for higher-level work.
Randy and Kevin outlined future AI use cases and will expand on these at the upcoming GrowCFO global finance summit. Previous podcast guest Aneal Vallarupali, CFO at Airbase also features in this session.
https://youtu.be/Aqahr5LvetALinks* Randy Wootton on LinkedIn * Kevin Appleby on LinkedIn * Maxio * GrowCFO Show #171: What’s in Store for Fintech in 2024 with Aneal Vallurupalli, CFO at Airbase * GrowCFO Global Finance Summit
TimestampsCareer progression from military to CEO of 3 startups. (0:10)
AI and business leadership with a seasoned CEO. (2:19)
AI’s impact on content creation, including the use of chatbots for research and writing. (7:03)
AI’s impact on the accounting profession, including automation, labour shortages, and new roles. (12:07)
Charting the Future: Expert Perspectives on Finance and AI Trends at the Global Finance Summit (17:44)
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars.
Premium members can also access our extensive training centre and CFO Digital Toolkit. You can enrol in our flagship Future CFO or Finance Leader programmes here.
You can find out more and join today at growcfo.net
Chris Tredwell joins regular host Kevin Appleby on the GrowCFO Show. Chris is the Chief Sales Officer at ERP software provider Aqilla. Chris leads GrowCFO’s Future of the Finance Function series of webinars and will be presenting the opening keynote at the upcoming Global Finance Summit on 15-16 May 2024.
Aqilla is a mid-market, Cloud-based, Accounting / Postmodern ERP solution that sits above well-known entry-level SME products such as Xero, Quickbooks and Sage. It has the capabilities of products like SunSystems (Infor FMS), SAP Business One, Netsuite, Microsoft Dynamics, Intacct and many others but at a fraction of the complexity and cost.
Chris and Kevin discussed how AI and automation are rapidly changing the finance function. They talked about the limitations of legacy on-premise accounting software and how modern cloud-based solutions are needed to take advantage of new technologies.
Speeding up month-end close remains a challenge for most businesses, and Chris and Kevin believe this is the biggest opportunity for automation in finance.
They emphasized the importance of real-time data access and analytics to drive better business decision-making. They also discussed the importance of benchmarking processes, having a single source of truth for data, and focusing on a few key actionable insights rather than excessive data
https://youtu.be/llPpRcJtspsLinks* Chris Tredwell on LinkedIn * Kevin Appleby on LinkedIn * Aqilla * GrowCFO Global Finance Summit
TimestampsThe Global Finance Summit. (0:11)
Cloud-based accounting software for mid-market businesses. (3:25)
Modernizing finance software for efficiency and time savings. (9:08)
AI in finance, automating tasks and improving accuracy. (13:58)
Focussing on real-time data and decision-making. (18:32)
Data accuracy and a single source of truth in business reporting. (23:24)
Modernizing finance functions with a focus on technology and automation. (28:17)
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars.
Premium members can also access our extensive training centre and CFO Digital Toolkit. You can enrol in our flagship Future CFO or Finance Leader programmes here.
You can find out more and join today at growcfo.net
Anthony Perrozi is an independent finance transformation advisor, author and coach. Anthony shares his vast experience and practical insights on how finance teams can evolve from mere reporters of results to crucial drivers of business value. He stresses the importance of mindset in transforming finance teams and lays out how to establish a project approach that optimizes existing processes and pinpoints areas needing improvement.
Anthony talks about his journey to becoming a full-time finance transformation expert. Anthony started in accounting but realized there was more to learn outside the textbooks. This led him to take on systems implementation roles and eventually lead transformation projects.
Anthony shared some common pitfalls like not committing enough resources to transformations. Organizations also struggle with requests for proposals that don’t consider the level of effort needed. We discussed the need for client-side advisors to provide strategy and ensure different departments work together smoothly.
Anthony’s approach involves listening sessions with subject matter experts to understand their pain points and map out processes. Fixing these is key before adding new technology like automation. Process improvement is so important for efficiency gains.
When it comes to automation and AI, Anthony stressed the importance of aligned processes and resources first. We can’t just layer technology on top of broken processes. Robotics process automation is commonly used in early automation efforts.
Driving the need for change often comes down to issues like errors and wasted time on non-value activities. A big future challenge will be increasing understanding of what transformation really means and how to do it effectively. Our finance transformation bootcamp aims to help with that.
https://youtu.be/wijdStudh5gLinks* Anthony Perrozzi on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Finance Transformation Boot Camp * GrowCFO Global Finance Summit
TimestampsIntroducing finance transformation with expert Anthony Perrozzi. (0:11)
Finance transformation and intercompany accounting. (2:27)
Finance transformation challenges and solutions. (5:45)
Improving business processes through client-side advisors. (11:58)
Process improvement for business efficiency. (18:08)
Transforming businesses through automation and AI. (24:10)
Transforming finance teams and education. (31:21)
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars.
Premium members can also access our extensive training centre and CFO Digital Toolkit. You can enrol in our flagship Future CFO or Finance Leader programmes here.
You can find out more and join today at growcfo.net
Remote working is becoming ever more popular. Besides the trend of working from home, existing workers may want to move to other countries, either for a short period or long term, and the business may want to take advantage of the skills pool available by recruiting further afield. While there are many advantages of remote work, it also opens up new issues in legal and fiscal compliance. John Lee joins Kevin Appleby on the GrowCFO Show to discuss the problem and show how his company, Work From Anywhere, gives an effective solution.
John Lee speaks 6 languages and has travelled to 60+ countries. Over the last 20 years he has lived in Ireland, Germany, the Netherlands and Thailand. His previous start-up, CultureMee, an intercultural communication platform, won “Best Travel Technology Product” at the Global Youth Travel Awards in 2018. Prior to CultureMee, John held senior finance roles in FTSE listed CRH Plc. There, he travelled to over 150+ locations over a 10 year period and got to see first hand the challenges of dealing with complex corporate tax, individual tax and employment law across multiple jurisdictions.
Work from anywhere: solving the compliance problemThe conversation covered the challenges of managing compliance in remote and hybrid workforces. John Lee discussed his background in finance and startups, and how he enjoys working remotely with his family while navigating complex global tax laws.
John highlighted various tax, legal and employment risks companies face with international employees, such as visa requirements, individual and corporate tax, social security, and permanent establishment risks. Different countries have varying rules that can lead to penalties if not properly managed.
Kevin and John discussed the challenges of approving remote work locations and hiring overseas employees. John’s platform provides real-time risk assessments and compliance checklists to help businesses navigate these issues. It also saves companies time and money compared to external advisors.
Other topics included evolving hiring models like employers of record and contractors, roles popular for remote work, and the future of work being more agile and flexible. John is excited by AI’s potential but emphasizes human oversight for reliability in their legal/compliance domain.
GrowCFO members can take advantage of a range of member discounts, including an exclusive 10% discount on a Work From Anywhere subscription
https://youtu.be/dopfdelaWv0Links* John Lee on LinkedIn * Work From Anywhere * Kevin Appleby on LinkedIn * 10% discount for GrowCFO members * Episode 147 Hybrid Working: Getting the Best from Your Finance Team with Alex Triplett, CFO/COO at Appfire
TimestampsIntroducing John Lee (0:11)
Remote work challenges and solutions. (2:39)
Tax and employment risks for multinational companies. (6:37)
Hiring models and workforce strategies in international expansion. (10:37)
Hiring overseas risks and solutions. (14:36)
Remote work and its challenges in various locations. (19:04)
AI impact, remote work, and company benefits. (23:19)
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars.
Premium members can also access our extensive training centre and CFO Digital Toolkit. You can enrol in our flagship Future CFO or Finance Leader programmes here.
You can find out more and join today at growcfo.net
Tim Merryweather joins Kevin Appleby on the GrowCFO Show ahead of a Webinar in April about how to value your business. Tim is an experienced CFO. He describes his career journey, including working in London, Singapore, and the Middle East, and highlights his practical experience in valuing and acquiring businesses.
Tim and Kevin discussed Tim’s early experience at Mouchel, a highly acquisitive former FTSE250 company with a high valuation multiple. They talked about valuing a business being acquired, with Tim explaining that they looked at market indications, valuation metrics, and the combined business’s worth.
Tim emphasizes the importance of securing relationships and staff during the acquisition process to maximize value. Companies that make frequent acquisitions may increase risk profiles, leading to a lower valuation multiple.
When dealing with Private Equity, valuation multiples are based on earnings visibility and forecastability. The quality of a company’s management team is a key factor in determining its valuation multiple. Valuing early-stage businesses requires balancing DCF techniques with market experience and size of opportunity as cashflows are uncertain.
https://youtu.be/juhLmo9r5mgLinks* Tim Merryweather on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Business valuation webinar
TimestampsBusiness growth and expansion with a South African finance leader. (0:11)
Career progression in finance, from controller to CFO. (3:25)
Valuing a business through acquisition. (8:19)
Acquisition strategies and valuation multiples. (13:35)
Private equity valuation techniques and market trends. (18:05)
Startup valuation and investment strategies. (22:37)
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars.
Premium members can also access our extensive training centre and CFO Digital Toolkit. You can enrol in our flagship Future CFO or Finance Leader programmes here.
You can find out more and join today at growcfo.net
In the final part of the series on scaling FP&A, Catherine Marks brings together her old team from Virgin Media O2 to discuss the merger of the two organisations and what this meant for the finance teams within each merged company.
Regular podcast host Kevin Appleby chats with Catherine, formerly Head of Group FP&A at Virgin Media O2 and now FP&A and Team Training Lead at GrowCFO. They are joined by Julie Parker, who before the deal, was Pre-merger Planning Integration Lead, Finance at O2 and remains in the merged organisation as Head of Finance Integration & Transformation; Tom Writer, who took on the role of Head of FP&A – Consumer Commercial in the merged organisation; and Ed Dannan formerly Central Finance Director at Virgin Media, now CFO at Voneus Broadband.
The conversation covered key challenges and strategies for integrating finance teams after a merger or acquisition. The guests discussed their experiences bringing together Virgin Media and O2, highlighting cultural differences, resource allocation challenges, and the importance of speed during integration while managing change.
Other topics included measuring synergies, navigating systems integration, and maintaining motivation. The group agreed that having a clear integration strategy and dedicated leadership is crucial to avoid uncertainty during the transition period. Communicating authentically and focusing on both outputs and people aspects were also emphasized as important factors for success.
https://youtu.be/lnSXr6up3twLinks* Catherine Marks on LinkedIn * Kevin Appleby on LinkedIn * Julie Parker on LinkedIn * Tom Writer on LinkedIn * Ed Dannan on LinkedIn * Episode 175 Scaling FP&A 2 Choosing the Right FP&A Tools * Episode 174 Scaling FP&A 1 Building Your FP&A Team * GrowCFO FP&A Competency Framework * GrowCFO FP&A Bootcamp
TimestampsScaling FP&A with guests from Virgin Media and Phineas. (0:11)
Post-merger integration challenges and strategies. (3:17)
Merger challenges in the telecommunications industry, including cultural differences and resource allocation. (6:59)
Cultural challenges after merging two companies. (9:12)
Cultural differences in mergers and acquisitions. (14:17)
Implementing change in organizations, managing uncertainty. (15:49)
Challenges and strategies for merging financial systems. (18:01)
Merger planning, baseline, and operational metrics. (20:07)
Communication and team alignment. (22:26)
Finance Processes in Mergers and Acquisitions. (25:25)
Finance transformation and change management. (28:54)
Mergers and acquisitions in the finance industry. (30:43)
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars.
Premium members can also access our extensive training centre and CFO Digital Toolkit. You can enrol in our flagship Future CFO or Finance Leader programmes here.
You can find out more and join today at growcfo.net
In the second of a 3 part series on scaling your FP&A capability, Paul Barnhurst, the FP&A Guy, and Catherine Marks, head of FP&A and team training at GrowCFO, join Kevin Appleby to discuss FP&A tools. They discuss scaling finance operations with a focus on infrastructure and choosing the right FP&A tools for growing organizations.
Paul is a Finance Professional with 12+ years of finance and FP&A experience, including business unit CFO roles. He earned a business bachelor’s degree from BYU and an MBA and Master of Science in Information Management from Arizona State University. He is known for his deep understanding of the FP&A software planning space and has recently published an FP&A software market guide. Paul runs his own business providing training services, is a content creator, and hosts two popular finance podcasts FP&A Today and Financial Modeler’s Corner. He provides consulting services for small and mid-sized companies.
Paul provided insights on getting infrastructure right and selecting the right planning tools, including
- Future-proofing FP&A systems with agility, flexibility, and consideration of future needs and strategies. The importance of data organization and having an end-user champion was emphasized.
- Thoroughly selecting the right business planning tool by considering factors like market size, industry, systems integration needs, and process complexity. Excel limitations and risks were discussed.
- Implementing performance management systems through a focus on pre-work like defining KPIs and metrics, and experimenting with machine learning/AI capabilities.
- Keeping processes efficient through a growth mindset, documentation, and continuous innovation as organizations scale.
- Successfully transferring planning processes to new tools by focusing on design improvements rather than just porting spreadsheets over.
- Practical advice is to start small, do homework on requirements and avoid being swayed by new tool features without clear needs.
https://youtu.be/IFMQB81jk2ALinks* Catherine Marks on LinkedIn * Kevin Appleby on LinkedIn * Paul Barnhurst on LinkedIn * The FP&A Guy * A guide to 3rd Generation FP&A tools * Episode 174 Scaling FP&A 1 Building Your FP&A Team * Episode 176 Scaling FP&A 3 Navigating an Acquisition with the Virgin Media O2 FP&A Team * GrowCFO FP&A Competency Framework * GrowCFO FP&A Bootcamp
TimestampsScaling finance and operations with a focus on infrastructure. (0:12)
FP&A tools and strategies for growth-stage organizations. (1:21)
Future-proofing FP&A systems with agility and flexibility. (6:30)
Selecting the right business planning tool for growing companies. (7:43)
Selecting and implementing a performance management system. (15:48)
AI adoption, process efficiency, and growth mindset in business. (23:12)
Implementing new financial planning tools and processes. (26:54)
Financial planning and acquisition strategies. (33:40)
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars.
Premium members can also access our extensive training centre and CFO Digital Toolkit. You can enrol in our flagship Future CFO or Finance Leader programmes here.
You can find out more and join today at growcfo.net
In the first of a 3 part series on scaling your FP&A capabilities, we’re looking at developing the FP&A team. GrowCFO Show host Kevin Appleby is joined by Jane Riley, Director at executive recruitment specialist Zanda, and Catherine Marks FP&A lead at GrowCFO.
Catherine and Jane discuss building a scalable FP&A team to support rapid business growth.
The first hire is important. Bringing in a dedicated FP&A professional is a luxury few will be able to afford, so the initial hire will likely be a generalist adapting to changes, says Catherine. Priorities for early-stage companies include cash flow, forecasting, and analyzing financial decisions.
Team size and structure should align with business strategy and support functions, potentially including geography for larger companies. Recruiting the right skills and mindset is challenging, as FP&A requires a wide range of abilities.
Jane highlights the competitive nature of the recruitment market. Offering variety, progression opportunities, and competitive benefits is key to attracting top talent. Employee turnover needs to be minimised, and Jane brings some great insights around why people leave organisations.
Developing both people and culture is important. Direct learning, training, and broadening skills are ways to develop abilities, according to Catherine. Maintaining a strong finance culture and investing in employees can address organizational challenges.
https://youtu.be/AlAHP5K5c-cLinks* Catherine Marks on LinkedIn * Kevin Appleby on LinkedIn * Jane Riley on LinkedIn * Zanda * Episode 175 Scaling FP&A 2 Choosing the right FP&A tools with Paul Barnhurst and Catherine Marks * Episode 176 Scaling FP&A 3 Navigating an Acquisition with the Virgin Media O2 FP&A Team * GrowCFO FP&A Competency Framework * GrowCFO FP&A Bootcamp
TimestampsIntroducing Jane Riley. (0:11)
Hiring a dedicated FP&A person for a growing business. (4:03)
Hiring challenges in finance and accounting roles. (12:02)
FP&A skills and culture. (19:08)
Developing FPGA skills and becoming a great leader. (22:23)
Factors leading to FPN leader turnover and career progression. (27:37)
Building and maintaining a finance team in a growing organization. (33:26)
Scaling businesses with DNA from a people perspective. (35:09)
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars.
Premium members can also access our extensive training centre and CFO Digital Toolkit. You can enrol in our flagship Future CFO or Finance Leader programmes here.
You can find out more and join today at growcfo.net
Luigi Testa, CFO at LinkSquares joins Kevin Appleby on the GrowCFO Show to share his journey growing LinkSquares from a small company with $2m revenue, through a $100m fundraise, to one with 100% revenue growth in recent years. LinkSquares helps legal teams automate tasks for more efficient work.
Luigi discusses navigating business growth through technology, hiring expertise, and finance leadership as the CFO. His FP&A background has helped provide strategic guidance.
How did Luigi navigate a $100m fundraise?Luigi led LinkSquares through a Series C financing of $100 million He discussed how they were able to complete this raise and diligence process in under 70 days. Leveraging tools like their contract analysis product Analyze allowed Luigi to quickly provide investors with contract and other diligence information during the fundraising process.
Luigi believes that fundraising success comes from building relationships before raising funds. He emphasizes the importance of networking for CFOs. Luigi and Kevin discuss preparing diligently for fundraising through financial housekeeping and relationship building. Leveraging tools like LinkSquares can streamline diligence.
How is the CFO role evolving as the company grows? The evolving CFO role focuses on maintaining healthy growth through efficiency gains. Leveraging AI can create automation and leverage resources.
Looking ahead, CFOs will focus on scaling efficiently while capturing market opportunities. Data-driven decisions will guide accelerating or focusing on efficiency.
https://youtu.be/yLGTVa1BuhkLinks* Best Practice Accelerator – Prepare for a Fundraising Process * Luigi Testa on Linkedin * Kevin Appleby on LinkedIn
TimestampsIntroducing Luigi Testa. (0:11)
Growth strategy and finance leadership with a legal tech company CFO. (2:32)
CFO role, responsibilities, and experience. (5:38)
Fundraising and growth for a tech startup. (11:26)
Fundraising, financial housekeeping, and legal tech tools. (13:12)
Building relationships for fundraising and networking. (18:35)
Fundraising and due diligence for startups. (21:16)
The evolving role of CFOs in business. (27:25)
Leveraging AI for business efficiency and growth. (30:00)
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and participate in our regular networking events and webinars.
Premium members can also access our extensive training centre and CFO Digital Toolkit. Here, you can enrol in our flagship Future CFO or Finance Leader programmes.
You can find out more and join today at growcfo.net
Ashley Vukovits, joins Kevin Appleby on the GrowCFO Show ahead of the March GrowCFO Best Practice Accelerator that will give you practical tools and advice to plan a fundraise. She will be the guest in the first of three workshops in the accelerator. Ashley is based in Indianapolis, Indiana and is currently managing director of Liftbridge CXO. Liftbridge CXO specialises in placing fractional CFOs in start-up to scale-up stage technology companies to help them reach the next level of growth.
Ashley has been involved in fundraising with many organisations and has experience across different types and sizes of deal. She brings this experience into the podcast conversation with Kevin.
Ashley discusses various fundraising strategies for early-stage companies, including angel investors, venture capital, private equity, and debt financing. She emphasizes the importance of knowing cash runway and having a fundraising plan.
Ashley explains that different fundraising stages involve different expectations, from a focus on leadership and vision at early stages to providing detailed financial data and substantiation when raising larger rounds.
Cultivating long-term relationships with potential investors throughout a company’s growth is key to fundraising success. Ashley highlights the importance of existing investors re-investing during her experience fundraising in a problematic 2021 market.
Thorough preparation for private equity fundraising is especially important due to increased scrutiny of financial data and processes. Ashley has helped companies improve their readiness through practice diligence runs.
Effective management of the fundraising process relies on clear communication and follow-up. The CFO often plays a central “glue” role in driving this while keeping the CEO focused on running business operations.
Upcoming best practice accelerator workshops between Ashley and Kevin will provide deeper dives into preparation, relationship-building, due diligence, and other actionable fundraising strategies.
https://youtu.be/PSDfMGDWzbwLinks* Best Practice Accelerator – Prepare for a Fundraising Process * Mentoring at GrowCFO * Ashley Vukovits on LinkedIn * Kevin Appleby on LinkedIn
TimestampsFundraising strategies for early-stage companies. (0:11)
Fundraising stages and strategies for startups. (3:22)
Fundraising strategies and best practices. (8:26)
Due diligence in private equity investments. (15:02)
AI’s role in fundraising and due diligence processes. (18:59)
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and participate in our regular networking events and webinars.
Premium members can also access our extensive training centre and CFO Digital Toolkit. Here, you can enrol in our flagship Future CFO or Finance Leader programmes.
You can find out more and join today at growcfo.net
Aneal Vallurupalli is a young CFO making a big impact. His career progression is remarkable, moving from investment banking to CFO roles at various companies, including his current role as CFO at Airbase. Aneal joins Kevin Appleby on the GrowCFO Show to talk about the state of Fintech in 2024.
Airbase is revolutionizing finance by streamlining company spending processes through a platform that handles payroll, accounts payable, expenses, and physical/virtual cards. Aneal discussed how Airbase’s finance team works closely with product and engineering to develop the platform while also assisting sales and customers. He outlined the importance of the platform’s breadth, depth, and consumer-grade user experience for mid-market companies.
Aneal Vallurupalli provided some insights into FinTech growth and competition:* Aneal believes what matters most is having a strong product and target market that highly values that product. Airbase has found product-market fit and a retaining customer base. * He predicted 2024 could be a tough fundraising year for companies without those key strengths, as many 2021 FinTech startups may need to raise funds but lack traction. * Aneal noted Airbase had avoided frequent fundraising rounds by controlling its own destiny through a strong business model and multi-year runway from its last raise over 2 years ago. * He acknowledged the FinTech funding environment has been volatile, with openings and closings in the IPO, M&A and private placement markets every few weeks. * As a CFO, Aneal’s focus is assuming the worst and planning accordingly to position Airbase well if market conditions turn.
Aneal discussed Airbase’s strategy around AI, which is focused on using AI to drive down friction and time for finance professionals within their customer base and employees using the product. For example, developing expense management capabilities allows expense reports to be submitted with no touch by the employee.
He also said AI will impact finance teams’ day-to-day tasks, such as making expense report submission more seamless. However, he noted AI is not the central theme at Airbase – it is woven throughout the platform to enhance the user experience.
Aneal and Kevin agreed that AI tools will be more useful as companies improve their data strategies and ability to analyze clean, homogenized data from various systems. Kevin highlighted the importance of data quality for AI to produce accurate results.
https://youtu.be/C-utxGR_j0ALinks* Aneal Vallurupalli on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Automation Accelerator
TimestampsRevolutionizing finance with a young CFO. (0:11)
Career progression from investment banking to CFO roles. (1:07)
Streamlining company spending processes. (5:39)
FinTech growth, market competition, and recession predictions. (11:24)
AI adoption in finance and its impact on teams. (17:15)
AI, data strategy, and giving back in the finance industry. (20:03)
Remote-first business model and its pros and cons. (25:42)
Remote work challenges and self-starter hiring in fast-growing companies. (30:43)
Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and participate in our regular networking events and webinars.
Premium members can also access our extensive training centre and CFO Digital Toolkit. Here, you can enrol in our flagship Future CFO or Finance Leader programmes.
You can find out more and join today at growcfo.net
Nicolas Boucher joins Kevin Appleby on the GrowCFO show and shares his experience implementing AI in finance. Nicolas teaches people how to get started with AI in finance, and this is the focus of the conversation. He discussed many ways of using ChatGPT as an assistant rather than just a search engine. Nicolas discussed how to structure prompts to get the most value from ChatGPT, and gave some great examples, such as drafting letters, writing procedures, and generating training content. ChatGPT can also be used for data analysis, problem solving, and exploring automation opportunities using Python.Kevin and Nicolas discussed the rise of AI-powered assistants like Copilot, more natural language interactions, and increased automation of finance tasks. They emphasized experimenting with AI tools, identifying automatable tasks, and staying up-to-date on new capabilities through communities and courses.Nicolas has 15 years of experience working in finance, first as an auditor at PwC and then at a large French multinational company, Thales, similar to Boeing. He is passionate about helping people grow both personally and professionally. This led him to coaching and training others throughout his career. He now runs his own coaching and training business. Nicolas started sharing his insights on LinkedIn which helped grow his audience and career. He now works as a trainer and consultant focused on teaching AI and ChatGPT for finance professionals. His goal is to help as many people as possible learn how to implement useful AI tools in their work. He has developed practical and advanced courses on the topic.https://youtu.be/uamDikynzgELinksNicolas Boucher on LinkedInKevin Appleby on LinkedInJoin the AI Finance ClubGrowCFO FP&A Boot campGrowCFO Automation AcceleratorTimestampsImplementing AI in finance with Nicolas Boucher. (0:11)Using AI language model GPT for writing tasks. (4:16)Using AI tools for training and problem-solving in finance. (11:06)Using AI tools for data analysis and automation. (15:10)Automating finance tasks with Python and AI. (21:48)Finance technology trends and the role of CFOs. (26:21)Using AI tools for productivity and automation in business. (33:37)Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training centre and CFO Digital Toolkit. Here, you can enrol in our flagship Future CFO or Finance Leader programmes. You can find out more and join today at growcfo.net
In part 2 of the three-part mini-series on AI for finance, Adam Shilton returns to the GrowCFO show. A year ago, Adam spoke to Kevin Appleby about what's likely to happen in tech for finance in 2023. 12 months on, they repeat the conversation, but for 2024, the focus is very much on AI.Adam is the founder and podcast host at Tech for Finance and a leading voice on Linkedin. Adam discussed current AI tools for finance and how they are advancing with multimodal capabilities and advanced data analysis features. He highlighted experimenting with different models to find the best fit.Adam talked about using AI for personal productivity through automating tasks, improving workflows, and using it for data analysis. He gave examples like Notion AI, GPT for Sheets, and Microsoft CoPilot. CoPilot Pro has recently been released to all Office users. If ChatGPT was the gamechanger in 2023, then its likely to be CoPilot in 2024.Kevin shared his experience using AI tools for podcasting and building learning materials. They discussed using tools like Motion and Fathom to improve meeting productivity and participation through transcription.Adam predicted greater AI autonomy in 2024 that works towards outcomes without human intervention. He and Kevin emphasized the importance of process optimization before implementing AI and using it to do more with less through tools like Lean.https://youtu.be/uHjEvmi8XfgLinksAdam Shilton on LinkedinKevin Appleby on LinkedInAI for finance part 1 with Isaac HellerUnlock the power of Microsoft Copilot Easy ChatGPT Hacks Every CFO Should KnowGrowCFO Automation AcceleratorTimestampsAI tools for finance professionals. (0:12)Using AI for finance, including personal productivity and data analysis. (3:24)Some practical examples of tool;s Adam and Kevin are using (8:44)Using AI tools to improve productivity and meeting efficiency. (10:55)AI technology and its applications in business. (16:11)AI autonomy and prompting technology. (20:38)AI language models in business. (22:52)AI-powered copilot in Microsoft Office. (28:18)Automation, AI, and process optimization. (32:52)Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training centre and CFO Digital Toolkit. Here, you can enrol in our flagship Future CFO or Finance Leader programmes. You can find out more and join today at growcfo.net
Kevin Appleby interviews Thomas Zweifel about his career as an author and consultant. Thomas explains that he writes books based on mistakes he has made working with clients in different cultures and industries so that others can learn from his experiences. Thomas is an award-winning author. Some of the books he mentioned writing include Culture Clash, about mistakes made working in different cultures, and Strategy into Action. His most recent book, Gorilla in the Cockpit, discusses how biases at the start of projects can lead them to fail.Their discussion touches on the importance of culture when executing strategy. Thomas talks about discovering the "bottle" of underlying assumptions that guide an organization's thinking. He also emphasizes that the CFO has a key role to play in determining what activities are still relevant to the strategy and saying no to things that are obsolete.When discussing strategy in an uncertain world, Thomas advocates for his "Strategy and Action" approach of focusing on catalytic 100-day projects rather than multi-year plans. This allows organizations to test ideas quickly and adjust course if needed.Other topics covered include biases that can derail projects from the start, focusing each day on meaningful accomplishments, and using displays and routines to keep teams oriented towards strategic goals. Throughout, Thomas emphasizes examining assumptions and standing in the future as keys to strategic execution.LinksDr Thomas D Zweifel on LinkedInKevin Appleby on LinkedInGrowCFO Best Practice Accelerator - Deliver Your Business Growth PlanFree video training with Thomas: 4 Secrets for Realizing All Your Commitments (Professional, Financial, Personal) with Freedom, Power and Peace of Mind.Thomas' Books on Amazon UK and USATimestampsIntroducing Thomas Zweifel (0:11)Strategy execution and leadership challenges. (0:20)Project failures and biases in decision-making. (4:02)Unconscious biases in decision-making in business. (8:18)Strategy execution and cultural analysis. (12:09)Strategy and decision-making in a rapidly changing world. (17:02)Productivity tips for putting strategy into action. (24:14)Time management and productivity strategies for leaders. (28:28)Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training centre and CFO Digital Toolkit. Here, you can enrol in our flagship Future CFO or Finance Leader programmes. You can find out more and join today at growcfo.net
Tom Ricca-McCarthy, CO-Founder and CEO of Lucidity joins Kevin Appleby to talk about how to execute your business strategy. Kevin and Tom discuss executing business strategy and the challenges involved. Tom explained that while formulating strategy is relatively easy, execution is the difficult part where a strategy needs to be translated into clear activities and goals. They discussed how communication is key to ensure everyone understands the strategy and their role. A common pitfall is strategies end up as documents sitting on shelves gathering dust rather than being implemented. Kevin and Tom agreed the starting point is identifying what to stop, start, and continue from the strategy. They stressed the importance of measurement and reviewing progress regularly. Tom is GrowCFO's guest at the February Best Practice Accelerator "Deliver your business growth plan". The accelerator gives GrowCFO members a two-week practical challenge, and the podcast provides a flavour of the tools and techniques Tom and Kevin will share during the accelerator. Tom looked forward to helping participants in the accelerator focus on putting strategies into action using the right tools for planning, communication, and monitoring.https://youtu.be/IJPFGD8dGpYLinksTom Ricca-McCarthy on LinkedinKevin Appleby on LinkedInGrowCFO Best Practice Accelerator - Deliver Your Business Growth PlanTimestampsExecuting business strategies with a focus on CFO's role. (0:11)Strategy execution challenges and mitigation strategies. (7:34)Communication and strategy alignment in organizations. (13:56)Strategy execution and planning. (19:50)Strategy, execution, and review frequency. (26:10)CFOs' role in data-driven decision-making. (31:15)Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training centre and CFO Digital Toolkit. Here, you can enrol in our flagship Future CFO or Finance Leader programmes. You can find out more and join today at growcfo.net
In the first of a 3 part mini-series about AI in finance, Isaac Heller, CEO of Trullion, joins Kevin Appleby on the GrowCFO show. Isaac describes himself as a proud Texan. Following a sabbatical in 2019, he started a side project, SMRT, that became a Saas startup, Trullion. Trullion is a next-gen technology company building a single source of truth for the Accounting world. Trullion has offices in New York & Tel Aviv.Isaac and Kevin discussed how AI is impacting the CFO role. Isaac's company, Trullion, uses AI to automate accounting workflows like revenue recognition and lease accounting. This saves time and money for both accounting teams and auditors.They talked about other areas CFOs should apply AI, such as customer support/success using chatbots, marketing content generation, and financial planning/forecasting using AI-powered tools. CFOs should also push other departments to leverage AI.The costs of AI will initially be high due to computing needs, but will likely decrease over time following trends like Moore's Law. CFOs need to be aware of emerging AI-related costs and avoid vendor lock-in. AI could change how professional services firms charge by moving to more fixed-fee models.- Automating accounting workflows with AI - Other AI applications for CFOs include customer support, marketing, financial planning- Early AI adoption will have high computing costs that may decrease over time- CFOs should avoid vendor lock-in and be aware of emerging AI costshttps://youtu.be/NccF10QsZqALinksIsaac Heller on LinkedinKevin Appleby on LinkedInGrowCFO Finance Transformation Boot CampGrowCFO Automation AcceleratorTrullionTimestampsIntroducing Isaac Heller. (0:11)Automating auditing tasks with AI. (3:30)AI's impact on financial closes and cost savings. (8:29)AI's impact on CFO roles and responsibilities. (12:31)AI's impact on productivity and profitability. (18:44)AI costs and strategies. (22:44)AI in accounting and finance for a CFO. (29:02)Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training centre and CFO Digital Toolkit. Here, you can enrol in our flagship Future CFO or Finance Leader programmes. You can find out more and join today at growcfo.net
Finance teams are changing rapidly. AI and digital transformation are removing many traditional accounting roles, and the modern finance team needs to learn new skills. But how do you upskill your finance team?Award-winning author, executive coach and HR professional Marlo Lyons joins Kevin Appleby on the GrowCFO Show to specifically answer the question, "How do you upskill your finance team?" Marlo discussed with Kevin how finance leaders can develop talent within their teams. Some of the key points discussed included:Developing a workforce plan: This involves forecasting how finance functions and jobs may change with automation/AI, determining the appropriate size of the finance team, and identifying any new skills that will be required.Spotting talent: Marlo recommended looking at soft skills like learning agility when evaluating current staff who may be ready for more strategic roles. These types of skills are important for developing leadership potential.Using 360 feedback and succession planning: 360s provide insights from colleagues while succession planning involves creating profiles for future roles to determine what skills individuals need to develop to be ready for promotion or new opportunities.Aligning values with skills and career path: Understanding one's values helps identify fulfilling career paths aligned with both individual interests and company needs. This improves engagement and retention.Prioritizing learning agility in recruiting: Given talent shortages, companies don't need to find candidates ticking every box but rather those with the flexibility to learn new skills, especially when onboarding support can be provided.Marlo Lyons is the author of Wanted - A New Career, which was awarded best self-help book of 2022.https://youtu.be/Bc7QhV5yZhILinksMarlo Lyons on LinkedInKevin Appleby on LinkedInGrowCFO Finance Team Skills AssessmentWanted -> A New Career: The Definitive Playbook for Transitioning to a New Career or Finding Your Dream Job on AmazonTimestampsIntroducing Marlo Lyons (0:12)How to upskill your finance team (1:28)Workforce planning, talent spotting, and soft skills. (4:54)Leadership, development programs, and finance team collaboration. (9:45)Leadership development tools and techniques. (14:09)Career coaching and identifying values for job satisfaction. (18:17)Values, culture, and diversity in the workplace. (23:10)Evaluating talent and workforce planning. (28:24)Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training centre and CFO Digital Toolkit. Here, you can enrol in our flagship Future CFO or Finance Leader programmes. You can find out more and join today at growcfo.net
Christian Wattig joins Kevin Appleby on the GrowCFO Show. Christian runs the FP&A boot camp in the USA and is the founder of FP&A Prep. FP&A skills are in greater demand than ever. Kevin and Christian explored how to improve your FP&A skills. Christian discussed his background growing up in Germany and working for large consumer goods companies like P&G and Unilever. He talked about moving to the US and then transitioning to work in tech at Squarespace. Christian explained how he started teaching FP&A courses, which led him to found his own training company. Some key topics discussed included the importance of understanding both the numbers and the business, the role of AI in forecasting and analysis, and how accuracy needs to be balanced with enabling decision-making. Christian sees continued opportunities in teaching and public speaking going forward.What FP&A skills do you need?Christian discussed how understanding the business is as important for FP&A professionals as understanding the numbers. He talked about how forecasting and analysis require solving puzzles with the numbers but also understanding people and psychology when it comes to business partnering, influencing stakeholders, and communicating the company's financial story. Christian emphasized that having an impact goes beyond just creating models and reports - FP&A professionals need to convince others to take their recommendations and implement changes. He stressed the importance of asking the right questions to understand what really matters to business partners beyond just dollar impacts.The impact of AI in FP&AChristian shared his experience implementing a machine learning model for forecasting at Unilever. He found that it initially provided more accurate forecasts than their previous methods. However, he realized it was difficult to explain variances in leadership used to traditional forecasting approaches. This led Christian to understand that the focus of AI should be on experimenting with different input metrics and data granularity rather than adjusting individual forecasts. He also noted that working with AI requires viewing past data as if it hasn't happened yet to train models continuously. Christian believes AI can help with tasks like summarization and storytelling for FP&A professionals, but humans still need to apply judgment and address uncertainty.https://youtu.be/fzsEkDA1kzALinksChristian Wattig on LinkedinKevin Appleby on LinkedInGrowCFO FP&A Boot campFP&A Competency FrameworkTimestampsIntroducing Christian Wattig (0:11)Career progression and FP&A experience in various industries. (0:20)FPGA training program and its impact on finance teams. (3:36)Implementing zero-based budgeting and managing stakeholder expectations. (10:19)Forecast accuracy and decision-making in finance. (14:36)Using AI in financial analysis and decision-making. (20:48)AI use in podcast production and storytelling. (29.05)Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training centre and CFO Digital Toolkit. Here, you can enrol in our flagship Future CFO or Finance Leader programmes. You can find out more and join today at growcfo.net
Catherine Marks, former VP of Finance at Depop joins Kevin Appleby on the GrowCFO show. Kevin interviews Catherine about evaluating a finance function and, in particular, her experience applying this to her finance team at Depop. Catherine discusses the 5-step process she used at Depop to do this. She highlights tools like the GrowCFO size of finance team report and competency frameworks that can help. Catherine also shares lessons from applying this process at Depop as they grew and were acquired by Etsy. This provides a valuable framework for finance leaders to evaluate their teams and plan the right structure for the future.Catherine outlined 5 steps:1) Understand the business strategy and needs - Catherine stresses starting by understanding where the business is headed in the next 3 years and what financial support will be required. This provides important context for evaluating the finance function.2) Benchmark the finance function size - Catherine recommends using the GrowCFO size of the finance team report, which benchmarks team size based on 10 factors. This helped her assess where Depop was positioned.3) Map roles and responsibilities - It's essential to document the day-to-day responsibilities and any project work to understand capacity and skills needs. Catherine learned to avoid underestimating project work.4) Assess existing team members - Tools like the GrowCFO competency frameworks and strengths finders can provide insight into individuals' skills, ambitions, and development areas to identify gaps versus future needs.5) Evaluate team dynamics - Assessing how well the team works together and implementing initiatives for continuous improvement, like workshops for ideas, helped Catherine motivate and energize the Depop finance team.https://youtu.be/g_LoU0ghOvoLinksCatherine Marks on LinkedInKevin Appleby on LinkedInThe Size of a Finance Team: 2023 GrowCFO ReportGrowCFO Competency frameworksJanuary GrowCFO Quest - Assess your finance functionTimestampsEvaluating finance functions and teams. (0:12)Finance team structure and development. (5:41)Team dynamics, leadership, and finance transformation. (11:40)Business structure, transactions, and investors. (16:26)Finance team structure and operations. (21:12)Reshaping finance function for future growth. (25:53)Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training centre and CFO Digital Toolkit. Here, you can enrol in our flagship Future CFO or Finance Leader programmes. You can find out more and join today at growcfo.net
Susana Serrano-Davey joins Kevin Appleby to discuss transforming doubt into achievement. Susana shares her experience overcoming self-doubt to write and publish a book. She outlines a 7-step methodology spelled by the letters in ACHIEVE: Aspire Fearlessly, Creatively Express, Hold Back and Wait, Innovatively Organize, Embrace Support, Validate Your Journey, and Evolve Beyond Limits. A - Aspire Fearlessly. This means to just get started on your goal or dream without worrying about success. Take the first step.C - Creatively Express. Let go of expectations and explore what you're truly passionate about through creative expression.H - Hold Back and Wait. Don't rush the process. Give things time to unfold naturally.I - Innovatively Organize. Take a fresh look at your situation and resources to find new ways to achieve your goal.E - Embrace Support. Don't try to do everything alone. Ask others for help and build a support network.V - Validate Your Journey. Spend time reflecting on whether you're moving in the right direction through self-observation.E - Evolve Beyond Limits. Break free of limiting beliefs about what you think you can or can't achieve.Susanna and Kevin discuss applying these steps to goals like writing a book, becoming a CFO, or any goal one doubts they can achieve. Susanna emphasises enjoying the process over fixating on outcomes and finding support from others. This provides practical advice for overcoming doubt and achieving one's goals and dreams.https://youtu.be/ZmTBeAwgYygLinksJoin GrowCFO todayGrowCFO Future CFO ProgramSusana’s Book “I Wish I Had Known” is available at Amazon UK and Amazon USMentoring at GrowCFO with Susana Serrano-DaveySusana Serrano-Davey on LinkedInKevin Appleby on LinkedInView all podcast episodes.TimestampsTransforming doubt into achievement through goal-setting. (0:12)Overcoming self-doubt and pursuing creative passions. (2:58)Creativity, goal-setting, and seeking support. (7:54)Personal growth and self-awareness in leadership roles. (14:04)Embracing fearless aspirations and overcoming limits. (20:00)Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training centre and CFO Digital Toolkit. Here, you can enrol in our flagship Future CFO or Finance Leader programmes. You can find out more and join today at growcfo.net
Declan Tyrell, the CFO Whisperer, joins Kevin Appleby on the Grow CFO Show. Declan introduced himself as a former CFO and CFO Whisperer at both Google and Oracle. Someone who helps sales organizations understand finance leaders and position value propositions to inspire CFOs. He coaches sales professionals and runs deal clinics to help close deals. Declan is passionate about helping Salespeople understand the changing landscape of buying, in particular how to engage with their customers' economic buyer in times of financial uncertainty.Declan discussed how to approach CFOs by focusing on the business problem being solved and how the solution creates value. He emphasized clarity over complexity and focusing on "so what" and "who cares" factors.The conversation covered how to structure deals in a way that works for CFO incentives like EBITDA targets. Terrell shared examples of transformations he led at large organizations over months or years to transition finance functions.Declan shared insights from his time as Google's CFO Whisperer, helping close $2.3 billion in deals. He emphasized the importance of CFO buy-in for successful digital transformations and challenged presenters to identify accountability and measure projected benefits.At Google, he ran weekly deal clinics open for any team to book time and receive feedback on deals. Declan aimed to see 300 deals annually with a combined revenue value of over $2 billion. He challenged teams to clearly articulate the problems being solved and benefits to the business. Declan's deal clinics became popular training grounds for Google employees, and he found CFO involvement led to higher success rates on digital transformation projects.https://youtu.be/_LUVPCqzX-kLinksJoin GrowCFO todayGrowCFO Future CFO ProgramDeclan Tyrell on LinkedInKevin Appleby on LinkedInView all podcast episodes.TimestampsIntroducing Declan Tyrell, The CFO Whisperer (0:11)Sales strategies for CFOs and salespeople. (1:27)Finance department automation and modernization. (6:01)Digital transformation and CFO role in project success. (11:14)Business growth and digital transformation. (16:22)Budgeting and strategic planning for business growth. (21:27)Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training centre and CFO Digital Toolkit. Here, you can enrol in our flagship Future CFO or Finance Leader programmes. You can find out more and join today at growcfo.net
Wassia Kamon was the guest on episode 118. It's a year since that recording was made. A lot can happen in 12 months. Wassia changed jobs, moved to a different sector, and was promoted in her first three months. She has also risen to fame as an influencer on LinkedIn and has been published in the Wall Street Journal. Somebody has to be the best, so why not you? It was clearly visible behind Wassia as we recorded. It makes a great title for this episode.This episode provides valuable insights into how Wassia Kamon has developed her career over the past year through building soft skills like networking and personal branding. Some key lessons include:The importance of personal branding on LinkedIn to raise your profile and open up new opportunitiesHow networking, both online and offline, can help make career-changing connectionsDeveloping a strategy for onboarding yourself into a new role in an unfamiliar industry or sectorManaging imposter syndrome and limiting beliefs by surrounding yourself with a diverse "board of directors" for support and feedbackContinually learning new skills beyond just certifications to stay relevant and advance to more strategic leadership rolesOverall, this discussion highlights the soft skills needed to successfully pivot careers, industries, and accelerate your progression even in a tough job market. Listeners will take away practical advice on networking, personal development, and onboarding themselves for future success.https://youtu.be/veOsBRUXMKcLinksJoin GrowCFO todayGrowCFO Future CFO ProgramEpisode 118 Influencing Without Authority with Wassia KamonWassia Kamon on LinkedInKevin Appleby on LinkedInView all podcast episodes.TimestampsWhat's happened to Wassia in the last 12 months? (0:12)Personal branding. (1:22)Career growth in finance and accounting. (5:37)Imposter syndrome, and onboarding in a new industry. (12:20)Personal development (18:51)Career growth and management with a focus on personal experiences and insights. (25:12)Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training centre and CFO Digital Toolkit. Here, you can enrol in our flagship Future CFO or Finance Leader programmes. You can find out more and join today at growcfo.net
Dovid Gurevich, CFO at Tynrose joins Kevin Appleby on this week's GrowCFO Show. Dovid shares his unique background, transitioning from engineering to finance roles. He explained how digital transformation requires clean, integrated data accessible in real-time. Dovid recommended HR platforms like Rippling and Paylocity as the core system to build around, as they integrate HR, payroll, benefits and other functions. This reduces manual work and improves the employee experience. Gurevich also discussed the role of managed service providers in helping small-to-medium businesses overhaul their systems for better data and efficiencies. Overall, the conversation provided insights into holistically rethinking business systems from a digital transformation perspective.Why start with HR and not finance systems?Dovid explained that while finance systems are essential for accurate numbers, they are often a passive recipient of data from other systems rather than the primary source. HR systems integrate data across the employee lifecycle and other critical functions like payroll, benefits and IT access management. This makes HR a better starting point to clean up data flows and drive organic changes to other systems. Finance systems alone don't contain all the essential quantitative and qualitative data businesses need, so taking a holistic view beyond just numbers is vital for digital transformation.https://youtu.be/BMMiVJrjfZw?si=kZMO-PxBbdv2s4njLinksJoin GrowCFO todayGrowCFO Finance Transformation Boot CampDovid Gurevich on LinkedInKevin Appleby on LinkedInView all podcast episodes.TimestampsIntroducing Dovid Gurevich (0:11)Entrepreneurship, investing, and business growth. (4:38)Restructuring, digital transformation, and CFO skills. (9:34)Digital transformation and data analysis for small to medium-sized businesses. (14:28)HR and finance integration for small businesses. (22:54)Digital transformation and HR systems integration. (28:35)Streamlining business processes through technology integration. (33:31)Digital transformation: Finance or HR systems first? (39:05)Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training centre and CFO Digital Toolkit. Here, you can enrol in our flagship Future CFO or Finance Leader programmes. You can find out more and join today at growcfo.net
Soufyan Hamid, founder and financial storytelling trainer at SouFBP joins Kevin Appleby on the GrowCFO Show. They discuss storytelling in finance presentations.Soufyan started his career in auditing at PwC, then moved to consulting at Deloitte. He realized the importance of storytelling when he became a finance business partner for a telecommunications company in Belgium, as he needed to convince internal stakeholders who did not automatically trust him like external consultants. Soufyan now trains others in storytelling and presentation skills, drawing from his experience of making mistakes and learning over time.He shared five common issues with finance presentationsThere is no clear message that the audience remembers after the presentation.The presentations use the same structure and format for all audiences.The narrative structure does not follow a compelling story and business reality.The visuals/slides contain too much text, graphs, and tables.The delivery is not practised and focuses more on the slides than engaging the audience.Soufyan then introduced his "STORY" framework for creating effective presentations. The letters stand for Select your message, Target your audience, Organize your thoughts, Review your visuals, and question "Why". He discussed how to apply each step, such as determining the key message, adapting to different types of audiences, and using inductive or deductive structures. Soufyan emphasized the importance of rehearsing and preparing for questions from the audience.https://youtu.be/LGlk9GCC7mYLinksJoin GrowCFO todaySoufyan Hamid on LinkedInKevin Appleby on LinkedInView all podcast episodesTimestampsIntroducing Soufyan Hamid. (0:12)ve problems with financial presentations (4:15Presenting financial results to executives. (7:54)Understand the audience. (13:16)Practical presentation skills in finance. (20:51)Rehearsing presentations and overcoming nerves. (28:00)Understanding storytelling techniques. (32:24)Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training centre and CFO Digital Toolkit. Here, you can enrol in our flagship Future CFO or Finance Leader programmes. You can find out more and join today at growcfo.net
Dan Perez, Head of Finance at EdgeDelta joins Kevin Appleby on The GrowCFO Show to discuss observability. EdgeDelta supply observability solutions. Dan explains that observability allows teams to monitor an application's health based on the data it generates, helping them quickly identify issues and their root causes. This is important for meeting service level agreements and avoiding costly downtime.Observability and FP&ADan highlights ways that his background in finance and FP&A is relevant to his role focusing on observability. Understanding cost structures and modeling complex pricing is important given the huge volumes of data and unpredictable growth curves that observability systems deal with. Dan also sees potential for AI and machine learning to help automate some FP&A tasks like variance analysis, forecasting, and financial modeling over time. While the technology isn't fully mature, Dan is excited about the possibilities for using observability data to drive insights and efficiencies for finance teams. His experience in both worlds gives him a unique perspective on their intersection.The challenge of remote workingKevin and Dan discuss the challenges and best practices of managing a distributed remote team. Dan shares that his company Edge Delta is headquartered in Seattle but has employees all over the world, including Dan working remotely from Michigan. They agree it's important for remote companies to build in social connections between employees.Edge Delta focuses on local meetups when possible and annual all-company events. Over-communicating through Slack is also key. Dan emphasizes respecting different time zones to avoid late-night messages. Having clear priorities helps teams understand what requires immediate response. Both note remote work requires extra effort to feel empowered asking questions outside traditional office settings through virtual office hours. Overall, open communication, respecting work-life balance, and finding ways to socially connect remote employees are important for culture, according to their discussion.https://www.youtube.com/watch?v=heMh-83mZq4&ab_channel=GrowCFOLinksJoin GrowCFO todayFind out more about EdgeDeltaDan Perez on LinkedInKevin Appleby on LinkedInView all podcast episodesTimestampsDan Perez explains observability.0:11Using observability to identify issues in a system.2:40Observability, data growth, and pricing models in the tech industry.6:07Data quality, AI, and observability in finance.12:37Company culture at EdgeDelta and hybrid working.18:32Market competition, and growth ambitions.23:53Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training centre and CFO Digital Toolkit. Here, you can enrol in our flagship Future CFO or Finance Leader programmes. You can find out more and join today at growcfo.net
Carrie Gallant is a dynamic speaker, author, coach and facilitator; she is a licensed associate of the Impostor Syndrome Institute. In this episode, Carrie discusses imposter syndrome and how it affects finance leaders with Kevin Appleby. Carrie shares how she got into studying imposter syndrome and how it can impact people differently based on gender and culture. Common feelings associated with imposter syndrome include feeling like a fraud or not being good enough.Often, the finance leader might suffer from imposter syndrome, but it could just as easily be other members of the finance team. So, as a leader, how do you spot when this affects somebody on your team?Some signs a leader should look out for in their team include underperformance, isolation, or holding back contributions. Strategies to overcome imposter syndrome include acknowledging feelings, focusing on facts and past successes, asking, "What if I felt confident?" and keeping a success journal. The conversation also covers how imposter syndrome can discourage people from applying for promotions or new jobs.Signs of Imposter syndrome a leader should look out forCarrie Gallant mentioned a few signs that a leader should look out for in their team that could indicate someone is experiencing imposter syndrome:- Underperformance - If someone seems not to be performing to their full potential or up to the level expected.- Isolation - If a team member appears more isolated from the rest of the team than others and not fully engaging or participating.- Holding back contributions - Noticing if someone holds back from saying something, contributing ideas, or hesitating to take on responsibilities. This could be a sign they lack confidence.- Surveys showing a lack of belonging - If organizational surveys find a team member has reported not feeling like there is a strong team atmosphere or that they entirely belong. A lack of belonging can contribute to lower confidence.Key strategies for overcoming imposter syndromeSome key strategies Carrie Gallant discussed for overcoming imposter syndrome include:Acknowledging the feelings rather than ignoring them, which helps to normalize the experience.Focusing on facts and looking at past successes, strengths, and accomplishments to provide a counterbalance to negative feelings.Asking oneself, "What if I felt confident?" to shift perspective and think about what actions a confident person might take.Keeping a "success journal" or "bank vault of value" to record achievements and positive feedback as a resource to consult when confidence is low.Leveraging assessment tools like StrengthsFinder to understand better one's natural talents and strengths to feel more competent in certain roles.Having open conversations with managers using questions like "What's holding you back?" and "What would you do if you felt confident?" for support and new perspectives.https://youtu.be/IblyotJkGHsLinksJoin GrowCFO todayOvercome Imposter Syndrome: A Guide to Building Confidence for Finance LeadersGrowCFO Show Episode 15: Imposter Syndrome and the CFO with Catherine Clark"Conversation secrets for tomorrow's leaders" By Carrie Gallant on Amazon UK and Amazon USCarrie Gallant on LinkedInKevin Appleby on LinkedInTimestampsIntroducing Carrie Gallant (0:11)The finance leader's role is spotting the problem. (1:59)Imposter syndrome and its impact on workplace performance. (6:11)What are the leading causes of imposter syndrome? (11:47)Job descriptions and hiring biases. (17:06)Overcoming imposter syndrome in the workplace. (22:43)Leadership development. (27:33)Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
Prudence Muchinouta, CFO of Community Markets for Conservation in Zambia, discusses her journey from her roots in Zimbabwe to becoming a CFO focused on sustainability and ESG. She talks about the challenges of registering smallholder farmers and implementing mobile payment systems in rural areas with limited infrastructure and identification. Prudence is passionate about gender equality and discusses the ongoing challenges facing women and girls in accessing opportunities in Zimbabwe and Zambia.Prudence talks about winning the ACCA Africa 2022 CFO ESG Award. She did not know about the nominations process and was surprised to be nominated. After an initial interview, she had to submit articles and documents about her work on environmental, social and governance issues as well as sustainability. This included her participation at COP26 where she submitted a letter presenting her perspectives. She went through multiple interviews as part of the selection process against two other strong finalists. Winning the award was a surprise and made her cry on the day, as finance professionals rarely receive such recognition. It has significantly impacted her career and visibility in working on ESG and sustainability issues from a finance perspective.Prudence highlights how gender inequality remains a challenge in Zimbabwe and Zambia. In rural areas, girls often only receive education up to a certain level before being married off. Their bride price also supports the education of boy children. While opportunities are more equal in professional circles, discrimination remains. As the only female executive in her organization, Prudence faces pushback when advocating for the "feminine" perspectives that contribute to their strategies. Employers also often prefer to hire male graduates over females, assuming women will take time off for families. While laws require accommodation, internal biases remain. Prudence feels more discrimination is faced by underprivileged women and girls beyond the towns and cities. Economic challenges also exacerbate issues of unequal access to opportunities.https://youtu.be/qozb9RnwniALinksJoin GrowCFO todayPrudence Muchinouta on LinkedInKevin Appleby on LinkedInTimestampsIntroducing Prudence Muchinouta (0:11)Career progression from financial reporting to CFO in the telecom industry. (4:27)Sustainable agriculture and financial inclusion in Africa. (10:24)ESG challenges in Africa with a passionate advocate. (15:39)Winning the ACCA CFO ESG Award (19:04)Gender inequality in finance and leadership. (25:07) Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and take part in our regular networking events and webinars. Premium members also have access to our extensive training centre and CFO Digital Toolkit. Here you can enrol in our flagship Future CFO or Finance Leader programmes. You can find out more and join today at growcfo.net
Kevin Appleby is in conversation with Roi Ben Daniel. Roi is the founder and CEO of Received, a billing and accounts receivable solution focused on the specialised needs of B2B sales organisations. They discuss the challenges facing mid-market SaaS companies and the pressures CFOs face around software costs, pricing models, and customer unit economics. Roi also shares insights into opportunities like service monetisation and why building invoicing in-house often doesn't make sense compared to a dedicated solution.Roi discussed how companies are gaining more pricing flexibility to address demands from both customers and investors. Offering tiered pricing through levels of service like bronze, silver and gold helps give customers options while protecting recurring revenues.He also talked about how services, which can be one of the highest costs for software businesses, are often provided for free historically. Now, companies are finding innovative ways to monetise services through recurring tiers with bank hours and overage fees. Organisations are also looking to "productise" services in order to maximise commercial value from each customer relationship.https://youtu.be/WVWwci4Ba7YLinksJoin GrowCFO todayGrowCFO Finance Transformation Boot CampGrowCFO Show episode 137 "Subscription Pricing and Packaging" with Wolter Rebergen, Commercial Director at YouniumRoi Ben Daniel on LinkedInKevin Appleby on LinkedInTimestampsCash flow and revenue management for B2B sales lead organizations. (0:11)Fintech industry trends and the future of invoicing systems. (8:14)Automating b2b software sales and invoicing. (16:02)Mid-market software, pricing, and customer strategies. (21:32)Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and take part in our regular networking events and webinars. Premium members also have access to our extensive training centre and CFO Digital Toolkit. Here you can enrol in our flagship Future CFO or Finance Leader programmes. You can find out more and join today at growcfo.net
Blake Wetzel, CEO of AuctionIQ, discusses how companies can save money on technology expenses through a reverse auction process. Blake has experience as both a CFO and CEO and explains how his financial background helps him as a CEO. He outlines how AIQ evaluates a company's entire technology spend, identifies areas for savings, and runs a competitive bidding process to get the best price while still meeting quality requirements. Companies can typically save 40% on costs this way compared to 15% through traditional negotiations. Benefits include increased cash flow and enterprise value. The process takes 3-4 months on average. Tips for CFOs include finding an expert partner to manage the process and getting contracts and invoices organised beforehand.Blake explains that AIQ's patented reverse auction process involves first vetting suppliers to ensure they meet the client's technical and other requirements. AIQ sits down individually with each potential supplier to evaluate how well their solution matches what the client needs. Suppliers are given a qualitative score based on this evaluation. The suppliers that pass the threshold then participate in a live auction where they can see other suppliers' bids and bid against each other in real-time. This competitive dynamic drives prices down further than traditional one-on-one negotiations. On average, reverse auctions yield savings of 40% compared to 15% for direct negotiations. The process aims to find the best supplier at the right price, not necessarily the lowest price bidder.https://youtu.be/coiW6ti0YdcLinksJoin GrowCFO todayGrowCFO Finance Transformation Boot CampBlake Wetzel on LinkedInKevin Appleby on LinkedInTimestampsIntroducing Blake Wetzel (0.11)Saving cash through technology expenses with a former CFO. (2:11)Using auctions to negotiate better deals for IT services. (6:28)ERP implementation and process optimization. (13:59)Optimizing IT infrastructure spend through reverse auctions. (17:20)Procurement auctions and evaluating suppliers. (23:25)IT supplier evaluation and cost savings. (26:46)Evaluating and acquiring fintech companies. (32:49)Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and take part in our regular networking events and webinars. Premium members also have access to our extensive training centre and CFO Digital Toolkit. Here you can enrol in our flagship Future CFO or Finance Leader programmes. You can find out more and join today at growcfo.net
This episode features Tom Schultz, author of the book "So You Want to be a Fractional CFO?". Tom shares his story of how he accidentally got into fractional CFO work in 2006 after helping sell the company he worked for. He discusses building his business through referrals from his network and eventually forming a firm called Next Gen CFO with 18 fractional CFOs. Tom provides advice on how to build a referral network and develop fractional CFO business. He also discusses how the book came to be written to help others entering this field. The book is available on Amazon and provides guidance for those considering or new to the role of fractional CFO.Tom formed NextGen CFO in 2010 with another fractional CFO he met. They decided to combine forces to be able to handle more referrals and pass clients to each other if one was too busy. They launched with just the two of them. Another established firm was looking to enter their area, so they grew to five people to establish themselves first. Since then, they have continued growing, with 18 fractional CFOs serving around 70 clients. Forming the firm provides stability since no one person loses their whole paycheck if a client leaves, and it's less impactful than if they were solo practitioners.https://youtu.be/NMWNlDYiPjwLinksJoin GrowCFO todaySo You Want to be a Fractional CFO? On Amazon US and UKNextGen CFOTom Schultz on LinkedInKevin Appleby on LinkedInTimestampsIntroducing Tom Schultz. (0:11)Becoming an accidental fractional CFO and managing multiple clients. (4:43)Fractional CFO role and relationship building. (9:46)Building a network for business development. (13:54)Building a successful fractional CFO business. (18:16)Fractional CFO roles and market demand. (22:39)Find out more about GrowCFOIf you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and take part in our regular networking events and webinars. Premium members also have access to our extensive training centre and CFO Digital Toolkit. Here you can enrol in our flagship Future CFO or Finance Leader programmes. You can find out more and join today at growcfo.net
This week on The GrowCFO Show, Kevin Appleby sits down with Charles Fisher, CFO of Turo, the world's largest peer-to-peer car-sharing marketplace. Chuck shares the story of how Turo is disrupting the traditional car rental industry by allowing people to list, discover and book cars anywhere without owning a large fleet. He discusses his role overseeing finance and operations as Turo scales rapidly while maintaining profitability. Chuck also offers insights from his previous career in investment banking and lessons learned from the collapse of Lehman Brothers. Tune in for a fascinating discussion on finance, entrepreneurship and leadership in a fast-growing tech company.Chuck also discusses Turo's transition to a flexible remote and hybrid working model. He notes the benefits of accessing talent anywhere and the challenges of managing teams remotely. Key points include:Scheduling more intentional check-ins and meetings to prevent issues from "festering below the surface"Finding ways to connect teams who no longer interact serendipitously in offices sociallyThe importance of in-person interactions for building culture and mentorship, especially for junior employeesHis efforts to regularly visit San Francisco to interact with teams directlyBringing the entire global company together twice per year to reinforce connections.https://youtu.be/afVX8At_jnALinksJoin GrowCFO todayGrowCFO Finance Team TrainingTuroCharles Fisher on LinkedInKevin Appleby on LinkedIn TimestampsIntroducing Charles Fisher (0:11)Disrupting the car rental industry with a platform offering convenience and variety. (2:53)Growth strategies for Turo. (8:44)How to prepare for an IPO. (13:41)Remote work challenges and benefits. (16:14)Hybrid work models and their impact on career development. (21:35)Becoming a CFO and leading a marketplace business. (27:19)Lessons learned from Lehman Brothers' bankruptcy and its impact on employees. (30:42)Career advice, networking, and business growth. (35:48)
Kevin Appleby introduces the 150th episode of The GrowCFO Show and looks back over the last three years of podcasting. The show has covered many topics and featured well over 100 guests. In this episode, Kevin reveals which ones have attracted the most interest from you—the listener.You might be a CFO with many years of experience or still be trying to land your first CFO role. Whichever it is, the podcast should bring something for you. We've covered many different personal development topics, looked at hot current issues, examined the state of the economy, and talked about how to raise finance and the impact of recent events. But which ones mattered to you?Here's the top 12 episodes of the GrowCFO Show:Episode 132 How to Empower Your Finance Team with Myles Downey, Author Speaker and Leadership CoachEpisode 142 How to Approach a Difficult Conversation with Catherine Clark, Head of Mentoring at GrowCFOEpisode 91 Building Financial Models in Excel with Giles Male and Myles Arnott, Founders at Full Stack ModellerEpisode 67 First 100 Days in Your New Finance Role with Dan Wells founder at GrowCFOEpisode 30 CFO Competency Framework with Dan WellsEpisode 102 How to Gain Control of Your Time with Laura Vanderkam, speaker and author of 168 hours.Episode 137 Subscription Pricing and Packaging with Wolter Rebergen Commercial Director at YouniumEpisode 123 Becoming a Transformational CFO with Yoana Land, CFO Transformation at L’Oreal North AmericaEpisode 118 Influencing Without Authority with Wassia Kamon, VP Finance & Accounting at ACM ChemistriesEpisode 119 How to Implement a Cashflow Forecasting system with Timothee Clement, Country Manager at AgicapEpisode 101 How to Become a Great Finance Business Partner with Oliver Deacon, Former FD at MicrosoftEpisode 133 How to win at your next finance job interview with Susana Serrano-Davey, GrowCFO Mentor and Authorhttps://youtu.be/R5GFzGJlFu4LinksFuture CFO ProgrammeCFO Competency FrameworkFinance Business Partnering Boot CampFree workshop: Cash Flow Management Demystified: What is the alternative to spreadsheets?Myles Downey’s books on Amazon UK and USALaura Vanderkam on Amazon UK and Amazon USSusana’s Book “I Wish I had Known” is available at Amazon UK and Amazon US
Andrew Waters is co-founder of recruitment consultants Zanda based in the UK and New York. He recruits finance leaders across Europe and the USA and understands the marketplace for finance staff. Andrew joins Kevin Appleby to discuss the state of the job market, what happened in the wake of COVID-19, the great resignation and the current economic slowdown.SummaryAndrew's key message is that while there have been job losses in the tech sector, the finance sector remains more buoyant. Andrew and Kevin discussed the differences between the US and European markets, with the US market bouncing back quickly. They also talked about the rise of part-time fractional CFOs, who are sought after by companies needing experienced strategic financing experience from CFOs earlier in their growth cycle.Andrew and Kevin discussed the importance of finding the right finance leader for a business based on its growth trajectory and specific needs. They also discussed the demand for finance transformation roles and the trend of flexible working models in the post-COVID era.Andrew and Kevin discussed the shift towards hybrid work models, with some businesses fully remote and others adopting a mix of remote and in-office work. They also touched on communication, workspace sharing, and career development challenges in a remote work environment. They also touched on insights into the future recruitment market, the possibility of higher interest rates becoming the new norm, and the ongoing progress towards implementing hybrid work models.https://youtu.be/5wxVWbUFDX8LinksZandaFind your next role on the GrowCFO job boardAndrew Waters on LinkedInKevin Appleby on LinkedInTimestampsIntroducing Andrew Waters. (0:11)What’s the current state of the recruitment market? (4:15)Differences between US and Europe. (7:41)Hiring a CFO early in the growth cycle. (12:46)What is the future need for finance leaders? (18:08)How flexible is the hybrid working model? (22:48)Importance of learning and development. (29
Catherine Marks, Is a finance professional with 20 years of experience. Most recently she was VP of Finance at Depop and Head of Group FP&A with Virgin Media O2. Catherine has joined GrowCFO as Finance Team Training Lead and is about to launch the inaugural GrowCFO FP&A boot camp.The FP&A boot camp provides practical training that enables finance teams to take immediate action and immediately make a difference in their work. The boot camp isn't about teaching theory. Instead, the training is designed to empower participants to apply what they learn and make an impact in their roles.What is FP&A?FP&A stands for Financial Planning and Analysis. It is a critical function within an organization's finance department that focuses on budgeting, forecasting, and financial analysis. The primary goal of FP&A is to provide insights and support to help organizations make informed financial decisions and achieve their strategic objectives. Here are some critical aspects of FP&A:Budgeting: FP&A professionals create and manage the company's budget. This involves setting financial targets, allocating resources, and monitoring actual performance against the budget. Budgets are essential for planning and controlling expenses and revenue.Financial Forecasting: FP&A teams use historical financial data and current market trends to develop forecasts of future financial performance. These forecasts help organizations anticipate potential challenges and opportunities, allowing for proactive decision-making.Financial Analysis: FP&A professionals conduct in-depth financial analysis to assess the company's financial health and performance. This may include analyzing key financial metrics, conducting variance analysis (comparing actual results to budgets or forecasts), and identifying trends or areas requiring improvement.Strategic Planning: FP&A plays a crucial role in the strategic planning process by providing financial insights to support the development of long-term business strategies. This includes evaluating the financial feasibility of strategic initiatives, assessing risk, and estimating the financial impact of different scenarios.Reporting: FP&A produces financial reports and presentations for senior management, board members, and other stakeholders. These reports often include financial statements, budget vs. actual performance reports, and financial dashboards that comprehensively view the company's financial position.Decision Support: FP&A professionals collaborate with other departments to provide financial guidance and support for decision-making. This can involve analyzing the financial implications of proposed projects, investments, or cost-saving initiatives.Resource Allocation: FP&A helps allocate resources effectively by evaluating investment opportunities, cost structures, and return on investment (ROI). This ensures that resources are allocated to projects and activities that align with the company's strategic goals.Risk Management: FP&A teams assess and mitigate financial risks by identifying potential threats to the organization's financial stability. They may develop strategies to hedge against currency fluctuations, interest rate changes, or other financial risks.Performance Metrics: FP&A establishes key performance indicators (KPIs) and metrics to measure the success of financial strategies and operational performance. These metrics help track progress toward financial goals.Technology and Tools: FP&A professionals rely on various financial modelling tools, software, and data analytics platforms to perform their duties efficiently. These tools facilitate data analysis, scenario planning, and financial modelling.FP&A is a multifaceted function within an organization that bridges the gap between finance and strategic decision-making. It plays a pivotal role in ensuring that an organization's financial resources are allocated wisely, financial goals are met,
Alex Triplett, CFO/COO at Appfire, joins the GrowCFO Show to discuss hybrid working and how to make it successful. Alex shares the culture and ways of working at Appfire and how the organisation embraces hybrid working as a core value.Hybrid working for a finance function refers to a work arrangement that combines remote and in-office work for employees within the finance department of an organization. This approach allows employees to work from different locations, such as their homes or satellite offices, while also spending some time working from a central office location.Key aspects of hybrid working for a finance function include:Flexibility: Employees have the flexibility to choose where they work, whether it's at the office, at home, or another suitable location. This flexibility can help individuals balance their work and personal lives, potentially leading to increased job satisfaction and better mental well-being.Remote Work: Employees can perform their finance-related tasks remotely, using digital tools, cloud-based platforms, and communication technologies to collaborate with colleagues, complete financial analyses, prepare reports, and engage in virtual meetings.In-Office Collaboration: While remote work is a significant component of hybrid working, employees are expected to spend some time at the office. This time is usually dedicated to collaborative activities that benefit from face-to-face interactions, such as team meetings, brainstorming sessions, training, and certain complex financial discussions.Technology and Infrastructure: Organizations must provide the necessary technological infrastructure to support remote work for their finance teams. This includes secure access to financial systems, reliable communication tools, cybersecurity measures, and access to required data and documents.Performance Measurement: Managers often focus on measuring employees' performance based on outcomes and deliverables rather than solely on the amount of time spent in the office. This shift towards outcome-based evaluation can promote accountability and results-oriented work.Communication and Collaboration: Hybrid working relies heavily on effective communication and collaboration tools to ensure that remote and in-office employees can work seamlessly together. Video conferencing, instant messaging, and project management tools keep everyone connected and informed.Work-Life Balance: Hybrid working can provide employees with a better work-life balance, as they have more control over their schedules and can avoid lengthy commutes. This can lead to increased job satisfaction and reduced burnout.Employee Preferences: Employee preferences for where and how they work are considered. Some individuals may thrive in a remote environment, while others may prefer the structure and social interactions of working in the office.Challenges and Considerations: Hybrid working also comes with challenges, such as maintaining a sense of team cohesion, managing communication gaps, and ensuring remote employees have equal access to opportunities and information.In the context of the finance function, hybrid working can be particularly beneficial, as much of the work involves data analysis, report preparation, and financial modelling, which can be performed effectively using digital tools. However, it's crucial for organizations to carefully plan and implement the hybrid work model to address potential challenges and ensure that the finance function continues to operate smoothly and efficiently.SummaryAlex discussed his role as CFO and COO at AppFire, a fast-growing enterprise software company that provides next-generation apps to enhance platforms like Atlassian, Microsoft, and Salesforce. He emphasized the importance of culture and human connection in the company, which was a key factor in his decision to join.Kevin and Alex discussed the topic of making hybrid working work.
Oliver Deacon is a member of the GrowCFO Mentoring team. He runs the GrowCFO Business Partnering and Finance Transformation Boot Camps and is a former FD at Microsoft. Oil joins Kevin Appleby on the GrowCFO Show to talk about why these boot camps deliver results for the people attending them. Boot camps don't focus on providing training on the theory, they provide pragmatic and useful training for finance teams concentrating on the practical application of tools and techniques that deliver results.Why do boot camps provide pragmatic and useful training for finance teams?Boot camps are known for providing pragmatic and useful training due to several key factors that distinguish them from traditional education formats. Here are some reasons why boot camps tend to offer practical and applicable skills:Focused and Intensive Curriculum: Boot camps are designed with a concentrated curriculum that focuses on teaching specific skills or technologies within a short period. This intensity ensures that students are immersed in the subject matter and learn only what's directly applicable to their goals.Hands-On Learning: Boot camps emphasize hands-on, experiential learning. Students engage in practical exercises, projects, and real-world scenarios that allow them to directly apply what they're learning. This approach reinforces understanding and promotes the development of problem-solving skills.Project-Based Approach: Many boot camps structure their training around case studies that simulate real-world challenges. This approach encourages critical thinking, collaboration, and the application of theoretical knowledge to solve practical problems.Rapid Skill Acquisition: Boot camps condense the learning process, enabling students to acquire practical skills quickly. This is particularly valuable in rapidly evolving fields where professionals need to keep up with the latest tools and technologies.Instructors with practical Experience: Boot camp instructors typically have very relevant experience and practical expertise. This means they can provide real-world insights, share industry best practices, and offer guidance on applying theoretical concepts effectively.Networking Opportunities: Boot camps often foster a sense of community among participants. Students come from diverse backgrounds and industries, providing opportunities to network, collaborate, and learn from their peers' experiences.SummaryOli and Kevin discussed upcoming boot camps, including business partnering and finance transformation. They also discussed the need for pragmatic and useful training to help teams apply their learning.Oli and Kevin discussed the importance of practical training that enables finance teams to take immediate action and make a difference in their work. Oli shared his experience in providing training that empowers participants to apply what they learn and make an impact in their roles.Oli and Kevin discussed their business partnering book camp, which aimed to train finance professionals to become effective business partners. They emphasized the importance of influencing and slimming down information to generate real business impact and described the structure of their two-hour interactive sessions over six weeks.Oli and Kevin discussed the finance transformation boot camp and how it has evolved over time. They highlighted the need for finance teams to undergo major transformations and the lack of knowledge and tools to initiate these changes.Oli and Kevin discussed the need for a course that helps finance teams with finance transformation, including selecting software systems. They couldn't find an existing course, so they built one themselves based on their own experiences and principles.Kevin and Oli discussed the different topics covered in their finance transformation boot camp, including software selection, strategy planning, process optimization, data analytics,
At some point in the next year, the interest rate hikes will likely end. After months in near-constant rate-hike-anticipation mode, CFOs will need to shift their mindset to the new rate environment and the opportunities that will open up. Bill Fink is an expert on this. A commercial banking and credit-risk executive with 30 years of experience, Bill is a frequent commentator on the economy, looking at everything from the impact of inflation and supply chain disruptions to rising unemployment rates and trade wars. His commentary has appeared in publications like MarketWatch, Treasury Today and Financial Advisory magazine, and he’s a guest lecturer at Wharton and other schools.Bill Fink is a CPA and an executive VP at TD Bank. He specialises in the middle market and is highly experienced in facilitating mergers and acquisitions.In this episode Bill joins Kevin Appleby to discuss:Ways to be opportunistic with both capital and debtWhy companies need to reassess their capital investment plansWhile M&A activity has been reduced by increased interest rates and economic uncertainty, the M&A market may now present growth opportunities for CFOsWhy this could be an opening for companies to foster a new burst of organic growth by taking a new product deeper into an existing market or even expanding into a new marketSummaryBill shared his experience as a CPA and how it has been beneficial in understanding finance and assisting clients with mergers and acquisitions.. Kevin and Bill discussed the impact of interest rates on the economy, noting that the pandemic-induced initiatives and stimulus measures led to inflation in various countries. They also highlighted the significant increase in interest rates over a span of 14-15 months, which hadn't been seen in the US for 22 years.Bill and Kevin discussed the impact of high-interest rates on profit margins and the financing market. They also mentioned that while there are challenges, there are still opportunities for strategic acquisitions and divestitures in the current environment.Bill and Kevin discussed the potential impact of AI on productivity and borrowing costs. They also mentioned that while interest rates have increased, it has created opportunities for strategic acquisitions and growth for well-positioned businesses.Bill and Kevin discussed the banking crisis and its impact on the marketplace. They concluded that while there may be occasional bank acquisitions or convergence due to liquidity issues, overall, banks are better capitalized now compared to the crisis in 2007. They emphasized the importance of liquidity management, asset-liability matching, and contingency planning in the face of changing macroeconomic factors.Kevin and Bill discussed the importance of risk management and risk-adjusted returns in finance. They emphasized the need for constantly evaluating and planning for unexpected events, highlighting the value of skills such as building risk-adjusted models and contingency planninghttps://youtu.be/wjprnZ4OoXALinksMentoring at GrowCFO What's happening? More Insights for 2023Bill Fink on LinkedInKevin Appleby on LinkedInTimestampsIntroducing Bill Fink (0:12)Becoming a CPA and moving into banking. (1:41)How interest rates have impacted profit margins. (6:07)Where is the opportunity for private equity? (10:35)How to look at M&A. (15:37)Borrowing costs will start to come down soon. (21:32)Opportunities that higher rates open up. (26:49)How do they look at the middle market? (30:33)Lessons learned in contingency planning. (36:01)
Ryan Englin is based in Nashville and is the CEO at Core Matters. He also hosts the Talent Tackle Box Podcast. Ryan joins Kevin Appleby on the GrowCFO Show to discuss how to recruit great people by using tools and techniques that normally sit with your marketing team.Kevin and Ryan discussed the importance of having an exemplary process for recruiting and retaining staff. They emphasized the need for companies to implement a system, such as Core Matters' CoreFit Hiring System, to automate and streamline the hiring process, allowing businesses to find and hire good people quickly. Ryan and Kevin discussed how the COVID-19 pandemic exposed inadequacies in various industries, leading to job seekers realizing they have more control and options. They also discussed the importance of treating recruiting as a marketing activity and implementing an always-on process to attract and recruit the right people for the business. Kevin and Ryan discussed the concept of creating a bench of potential employees to fill vacancies in a company. They emphasized the importance of nurturing relationships with passive job seekers through marketing funnels so that when they are ready to make a career change, the company is already on their radar. Kevin and Ryan discussed the importance of building and managing a finance team. They emphasized the need for leaders to constantly look for great talent, spend time on team development, and focus on retention and recruitment to ensure the team's success. Kevin and Ryan discussed the importance of finding employees who are a good fit for the company's culture and values, as well as the need to present an attractive online presence to potential job seekers. They also emphasized the use of an applicant tracking system to automate communication and stay on top of the hiring process.Ryan and Kevin discussed various topics including onboarding, reviewing and refreshing culture, the impact of inflation on wages, cost reduction strategies, activity analysis, and the importance of delivering on promises to justify price increases. They also emphasized the need to simplify, standardize, and automate processes for efficiency and profitability. https://youtu.be/D2V2w8UqeYcLinksFinance jobs at GrowCFOGrowCFO Future CFO ProgrammeThe Talent Tackle Box PodcastRyan Englin on LinkedInKevin Appleby on LinkedInTimestampsIntroducing Ryan Englin. (0:11)How do you teach people how to fish? (2:06)How to recruit better people? (6:44)How do we square the circle? (11:42)Passive job seekers vs. active job seekers. (14:17)Recruiting is part of who we are. (19:37)Have the right bait and the right gear. (24:28)Onboarding is about culture and people. (28:17)How to create opportunities to have a best friend at work? (33:08)
Francesco Zappala was Kevin Appleby's guest on episode 136. Previously he spoke about his journey to CFO and how an Italian ended up setting up a company from scratch in Chile, South America. Francesco is the CFO of a major construction company. He returns to talk about dealing with a construction project that is in distress.
Summary
Kevin and Francesco discussed the challenges of managing projects in distress, particularly in the construction and infrastructure industry. They highlighted the importance of proactive cash flow management, monitoring warning indicators, and being prepared for unexpected events like the pandemic that can significantly impact project finances.
Kevin and Francesco discussed the importance of building trust and strong partnerships with clients, suppliers, and subcontractors in order to navigate financial challenges and mitigate risks. They emphasized the need for transparent communication, fair contracts, and mutual support to ensure successful project outcomes and long-term business relationships.
Francesco and Kevin discussed the importance of considering clients in a global way, managing reputation, and complying with ESG principles in the construction industry. They also highlighted the challenges faced by companies entering new markets and the need for ESG to be ingrained in the DNA of organizations.
Francesco and Kevin discussed the importance of managing risks and maintaining a strong safety culture in a company. They emphasized the potential consequences of not taking responsibility for mistakes, such as financial distress, damaged reputation, and loss of clients.
Francesco and Kevin discussed the importance of prioritizing safety in the workplace and creating a culture of openness and partnership with clients.
Why might a construction project get into financial distress?
A major construction project can end up in financial distress due to a combination of various factors. Construction projects are complex endeavours involving numerous stakeholders, significant investments, and multiple risks. Here are some common reasons why a major construction project might face financial difficulties:
Cost Overruns: Unexpected expenses and cost overruns can occur due to changes in project scope, design modifications, price fluctuations in construction materials, and unforeseen site conditions. Failure to manage these costs effectively can strain the project's budget.
Delays and Time Overruns: Project delays can lead to increased labour costs, extended rental of equipment, and penalties for not meeting contractual deadlines. Time overruns can also result in lost opportunities and revenue for the project owner.
Inadequate Planning and Design: Poor planning and inadequate design can lead to errors, rework, and inefficiencies during the construction process, contributing to increased costs and delays.
Contractual Disputes: Disputes between project parties, such as contractors, subcontractors, and owners, can result in litigation or arbitration, leading to legal expenses and delays in project completion.
Financing Challenges: Difficulty in securing adequate and timely financing can lead to cash flow issues, hindering progress and causing financial strain on the project.
Insufficient Risk Management: Failure to identify and manage potential risks, such as weather-related disruptions, labour shortages, or supply chain issues, can lead to unexpected financial burdens.
Inadequate Project Management: Poor project management practices, including inefficient scheduling, lack of communication, and inadequate coordination among stakeholders, can result in project inefficiencies and increased costs.
Change Orders and Scope Creep: Frequent changes to project scope can disrupt the construction process, increase costs, and delay completion.
Economic Downturns: Economic downturns can impact the demand for construction projects,
Catherine Clark is head of mentoring at GrowCFO. She frequently supports her mentees when they need to have a difficult conversation. Difficult conversations can take place for a variety of reasons, In this episode Kevin and Catherine discuss the challenges of a difficult conversation and why you shouldn't avoid such conversations. They highlighted that a difficult conversation can cause anxiety and stress, but approaching it with curiosity and open questions can lead to better understanding and resolution.
Its possible you could be either the instigator or the recipient of the conversation, and Catherine and Kevin explore both positions and provide some great guidance that you can follow whichever role you find yourself in.
Catherine and Kevin discuss the importance of having difficult conversations and how to approach them. They emphasise the need to believe in a positive outcome, understand differing viewpoints, acknowledge emotions, and maintain empathy and open communication. They discuss the need for open communication, avoiding knee-jerk reactions, finding the right time and environment, and being specific in order to prevent misunderstandings and maintain productivity.
Kevin and Catherine discuss the importance of providing constructive feedback. They emphasize the need for open communication, timeliness, creating a conducive environment, and being willing to engage in uncomfortable conversations for personal and professional growth.
Links
Mentoring at GrowCFO with Catherine Clark
Catherine Clark on LinkedIn
Kevin Appleby on LinkedIn
Susan Jeffers – Feel The Fear And Do It Anyway: How to Turn Your Fear and Indecision into Confidence and Action on Amazon UK and Amazon US
Timestamps
What’s a difficult conversation? (0:11)
What’s going on in our brains to make difficult conversations feel like difficult things to talk about? (1:46)
How to have difficult conversations with people. (4:00)
You can choose how you behave and how you show up. (8:37)
How do we see ourselves in these difficult conversations? (11:12)
What to do if you’re upset about something. (16:17)
Avoid written response, make it a spoken response. (18:14)
How do we deal with difficult conversations as the recipient? (19:59)
If you’re instigating the conversation. (23:26)
How do you conduct difficult conversations online? (25:43)
Edmund Zagorin joins Kevin Appleby on the GrowCFO Show. Edmund is CSO of Arkestro. Arkestro helps your team make buying decisions, faster, and at scale using Predictive Procurement Orchestration
Kevin and Edmund explore anchor bias and consider how CFOs can help their procurement teams avoid anchor bias and use predictive modelling to make better buying decisions.
Anchor Bias and Predictive Modelling
Anchor bias, also known as anchoring bias, is a cognitive bias that refers to the tendency for individuals to rely heavily on an initial piece of information (the "anchor") when making decisions. In the context of procurement, anchor bias can significantly impact the effectiveness of predictive modeling.
Predictive modeling in procurement uses historical data and statistical algorithms to forecast future outcomes. However, if the initial data or 'anchor' used in the model is biased or inaccurate, it can skew all subsequent predictions, leading to flawed decision-making and potentially costly mistakes.
There are two main types of anchor bias: self-generated and externally provided. Self-generated anchor bias occurs when the individual creates the anchor based on their own knowledge or assumptions. Externally provided anchor bias, on the other hand, is when the anchor is provided by an outside source, such as a vendor's initial price quote.
For example, if a procurement professional uses the cost of a previous contract as an anchor when forecasting future costs, they might ignore changes in market conditions, material costs, or supplier capabilities that could lead to higher or lower costs. This could result in budget overruns or missed opportunities for savings.
Similarly, if a supplier's initial price quote is used as an anchor, it could influence the procurement professional's perception of what is a reasonable price, potentially leading to overpayment.
How to Mitigate Anchor Bias in Predictive Modelling
To mitigate anchor bias in predictive modeling, procurement professionals should consider the following strategies:
Use Multiple Data Points: Instead of relying on a single piece of information, use multiple data points to create a more accurate prediction. This could include data from different suppliers, contracts, or time periods.
Challenge Assumptions: Regularly question and validate the assumptions that underlie your predictive models. This can help identify any potential biases and correct them before they impact your forecasts.
Seek Diverse Opinions: Consult with colleagues or industry experts to get different perspectives. They might provide additional insights that can help adjust your anchor.
Train and Educate: Provide training and education on cognitive biases for procurement staff. Understanding these biases can help individuals recognize and mitigate them in their own decision-making processes.
While anchor bias can pose a significant challenge in predictive modeling for procurement, it can be mitigated through awareness, careful data analysis, and ongoing validation of assumptions. By doing so, procurement professionals can make more accurate predictions and better decisions.
Edmund shared his procurement, strategic sourcing, and data science background, and discussed the importance of collaboration with business stakeholders to achieve the best outcomes for all parties involved.
Edmund and Kevin discussed anchor bias in procurement negotiations and how the use of predictive models can help avoid it. They also talked about the impact of first offers on price variance and the asymmetry in technology and data between buyers and sellers.
Edmund and Kevin discussed how predictive models powered by AI can enable procurement and finance teams to negotiate with suppliers more effectively by using behavioral analysis instead of traditional cost or value frameworks. They also talked about the challenges in the relationship between procurement and finance,
Dr. Shan Nair is an entrepreneur and consultant on international expansion. He was the first to spot and develop the niche market of International Expansion Services (IES) which was previously fragmented. In the process he has worked with many companies in their early stages who have since become household names such as Tesla Motors, FaceTime and Sonus Networks. His role is to promote the services offered by Nucleus, a one-stop organization for U.S- based companies who wish to expand globally. Shan has a doctorate in nuclear physics from the University of Oxford. He has received multiple recognitions for his contribution to business in the US, UK and India.
During August GrowCFO will be running a quest to help premium members plan th opening of an overseas office. For many, the overseas office is the first step on the ladder to international expansion.
Shan and Kevin discussed the reasons for international expansion during difficult market conditions. They highlighted factors such as cost-saving opportunities, availability of skilled labour in certain regions, and the importance of considering government incentives and ease of doing business when choosing a country for expansion.
Shan and Kevin discussed the challenges of expanding a fintech company globally, including the need for expert help in navigating legal, accounting, tax, and HR compliance requirements. They emphasized the importance of adequate budget, thorough research, and understanding the specific regulations and liabilities in each target market.
Shan and Kevin discussed the expansion of Chinese companies into Europe and the reasons behind their reluctance to expand into the United States. They also touched on the challenges of operating in China, such as poor IP protection.
Kevin and Shan discussed their experiences in the energy sector, including the challenges of privatizing nuclear power and the issues with ageing coal-fired power stations. They also touched on the financial and technical aspects of their work, such as calculating liabilities and reducing emissions.
Links
GrowCFO finance team training
GrowCFO Quests
Mentoring at GrowCFO
Dr Shan Nair on LinkedIn
Kevin Appleby on LinkedIn
Timestamps
What makes you an expert in international expansion? (0:11)
Why is now a good time to expand? (1:43)
Why companies are looking at other countries, particularly Eastern Europe, Poland, Czech Republic, and Slovakia? (5:13)
Why are you looking at people that might want your services in Spanish elsewhere? (8:42)
What’s the main issue with expanding into other countries? (10:06)
What are some of the tax compliance requirements that you need to be aware of? (12:58)
What are the five things you’re most likely to get wrong when starting a business? (16:40)
Common places that companies in the US and Europe want to expand. (20:39)
Why are Chinese companies looking to expand in Europe more than in the US? (23:41)
Dan DeGolier joins Kevin Appleby on the GrowCFO Show to discuss the provision of fractional CFO Services. Dan is the founder at Ascent CFO Solutions. He discussed his background and career journey, including his experience in public accounting and working with venture-backed companies. He describes how his firm, Ascent CFO Solutions, has grown to include a team of 38 professionals who provide various financial services to clients, including capital raising and outsourced accounting.
Dan and Kevin discussed the challenges faced by companies in terms of fundraising, cash conservation, and revenue growth. They also talked about the impact of automation and artificial intelligence on their work, with Dan expressing cautious optimism about leveraging AI to improve efficiency and effectiveness.
Kevin and Dan discussed the implementation of automation in finance, explicitly using tools like Power BI to create customized dashboards for clients. They also emphasized the importance of understanding key performance indicators (KPIs) and cash flow management for businesses of different sizes.
Dan and Kevin discussed the importance of planning for a potential business exit and the benefits of working for a CFO firm. They emphasized the need for a thorough understanding of a company during the onboarding process and the ability to provide flexible and varied experiences for professionals.
In the conversation, Kevin and Dan discuss the importance of communication and time management skills in client interactions. They also mention the need for a diverse background and the use of screening tools like the CVI to find the right fit for the role of CFO.
Links
GrowCFO finance team training
GrowCFO Quests
Mentoring at GrowCFO
Dan DeGolier on LinkedIn
Kevin Appleby on LinkedIn
Timestamps
Welcome to the show, Kevin Appleby. (0:12)
Fractional CFO vs. full-time CFOs. (2:48)
How chatbots are changing the way we write. (8:17)
What are some of the biggest trends that Dan is seeing in the industry? (12:03)
How do you determine which data bits are the most important? (14:59)
Why you need to have investors in your business. (18:37)
Working with multiple CFOs and companies. (21:52)
How do you onboard people in multiple roles into numerous clients? (26:42)
How do you avoid making those mistakes because they could be very expensive? (31:14)
GrowCFO mentor Susana Serrano-Davey joins Kevin Appleby to discuss fear. Fear often holds you back from achieving your potential and can limit your career development. Fear is almost entirely self-generated and is therefore completely within your control. But how do you face your fears and take that control?
In this episode, Susana and Kevin discuss facing fears, including common workplace fears such as fear of being fired, fear of making mistakes, and fear of ridicule. Susana shared her personal experience of overcoming her fear of scuba diving and how facing fears can unlock opportunities. Kevin and Susana conclude the episode by providing strategies to help you face your fears.
Susana and Kevin discussed the common fears that hold people back in their careers, such as:
the fear of ridicule,
the fear of making mistakes and
the fear of losing one's job.
They emphasized the importance of facing and challenging these fears to grow as a leader. You must acknowledge and overcome these fears to reach your full potential.
As a finance leader, you may feel the pressure to have all the answers. When you are new to a role you might suffer from a lack of confidence and impostor syndrome. In each case, it is essential you reframe these fears and acknowledge that it's okay to not have all the answers and that failure is a natural part of the learning process.
Kevin and Susana concluded by discussing strategies for overcoming fear, including managing internal dialogue and supporting oneself.
https://youtu.be/_Y6k0sF__DE
Links
Susana’s Book “I Wish I Had Known” is available at Amazon UK and Amazon US
Find your next role on the GrowCFO job board
Mentoring at GrowCFO with Susana Serrano-Davey
Susana Serrano-Davey on LinkedIn
Kevin Appleby on LinkedIn
Timestamps
Today’s topic: face your fears. (0:12)
What does fear have to do with finance? (3:33)
The fear of ridicule and the fear of presenting. (8:06)
The fear of losing your job and how to overcome it. (13:02)
The fear of making mistakes is a game-changer. (19:18)
The more senior you are, the greater the pressure is to have to produce the answer. (26:03)
There’s one single strategy that works with fear. (30:54)
The fear of ridicule and volunteering. (35:12)
Wolter Rebergen, Commercial Director at Younium joins Kevin Appleby on this week's GrowCFO Show. Together they take a look at the latest developments in subscription pricing for a SAAS business and what this means for the finance leader. They discuss subscription models, including pricing and packaging. They also talked about challenges such as revenue recognition and the potential benefits of user-based pricing.
Kevin and Wolter discussed the evolution of subscription pricing models for SaaS and tech companies, including the trend towards usage-based models. They also noted the impact of economic downturns on customer behaviour and the shift towards pay-as-you-go models. Kevin and Wolter discussed the benefits and challenges of a pay-as-you-go pricing model, including the need for accurate revenue forecasting based on customer usage and the potential impact on sales commissions. They also explored the importance of customer retention and engagement in maximizing use and minimizing churn.
Wolter and Kevin discussed setting prices for a subscription-based service by analyzing the leader, filler, and killer products. They also talked about the importance of tracking usage and customizing pricing for customers, as well as the need for tools to manage subscriptions and recognize different types of revenue.
Kevin and Wolter discussed the benefits of variable pricing in the SaaS industry, including usage-based and role-based pricing. They also talked about the importance of adapting pricing models as businesses grow and change.
https://youtu.be/7AeGHnHTXXg
Links
GrowCFO finance team training
GrowCFO Quests
Mentoring at GrowCFO
Wolter Rebergen on LinkedIn
Kevin Appleby on LinkedIn
Timestamps
What is a subscription pricing business? (0:12)
How subscription models can get complicated quickly. (3:17)
How do you know if you’re doing a cost reduction? (9:04)
What is a real booking-based financial metrics? (11:23)
What is a subscription? What is the commission? (14:54)
How would you set the price for your leader products? (17:06)
What is a tool to manage the subscription? (21:23)
How are we going to make that estimated recurring revenue from usage count in the multiplier? (23:04)
Value-based pricing is one of the most common use cases. (27:36)
Francesco Zappala is CFO Chile for Italian construction giant Impresa Pizzarotti. His c.v. includes KPMG and Harvard Business School and an impressive career in corporate finance. He joins Kevin Appleby in this episode of the GrowCFO show to discuss his journey and how he became the finance lead and helped Impresa Pizzarotti build a brand new business in South America.
Francesco talked about his journey in building a career in financial services internationally, starting from a trip to the States with his dad when he was 14 or 15 years old, studying in different universities in Spain, having an internship in Madrid, working in a consulting company in Italy, and being offered to go to Turkey for a professional experience, which led him to South America and eventually becoming a divisional CFO in Chile.
Francesco discussed his experience working for Impresa Pizzarotti, a global general contractor, and the challenges he faced working in different regions such as South America and adapting to different cultures and management techniques. He also talked about the company's focus on big construction and infrastructure projects, as well as their move towards renewable energy and technology.
Francesco discussed his background in financial services and how it translates to his current role as CFO for a general contractor in Chile. He also talked about the challenges and growth of the organization, and his involvement in various aspects of the business including finance, accounting, mergers and acquisitions, tax and legal, internal audit, human resources, general services, and IT.
Francesco discussed his role in a company project, from finding the right partner to dealing with financial distress situations. He also talked about the challenges of starting a business during the pandemic and the importance of working closely with clients to ensure project success.
Kevin and Francesco discussed the impact of COVID-19 on the construction industry and the importance of staying humble and getting the job done. They also talked about the possibility of discussing turning around a distressed project in a future conversation.
Links
GrowCFO Future CFO Programme
Francesco Zappala on LinkedIn
Kevin Appleby on LinkedIn
Timestamps
Introduction to today’s guest. (0:11)
What is the most difficult part of moving from region to region? (1:55)
The challenges of working in Chile. (5:55)
What exactly does Impresa Pizzarotti do? (8:40)
How does that translate into what he’s doing now? (12:57)
How to bring the best practices from the finance industry to the corporate world. (14:47)
How big was the organisation in Chile when you joined? (19:19)
How involved do you get in individual construction projects? (21:19)
What is the credit cycle like at Impresa Pizzarotti? (25:40)
Francesco’s advice for a younger version of himself. (28:15)
Peter Mckenzie is The C-Suite Coach. He helps busy senior leaders regain energy and focus, increase impact and reach peak performance. Peter is the latest member of the GrowCFO mentoring team. Based in Barcelona Spain, Peter is the general manager of Anticipa Real Estate. He joins Kevin Appleby on the GrowCFO show. Peter discussed his background in finance and how he transitioned to general management and became a coach and keynote speaker.
Peter worked in auditing for three years before taking a sabbatical to learn Spanish and become an English teacher in Spain. He later returned to the finance world, working for Citi Group for 20 years and touching various businesses before joining GrowCFO.
Peter discussed his experience as a CFO in the financial sector, including his involvement in mergers and acquisitions. He also talked about his journey in public speaking and how it is an important skill for CFOs to have in order to effectively lead and influence their teams and organizations.29:24
Peter and Kevin discussed the importance of resilience, courage, and grit for CFOs, especially during challenging times. Peter also shared his experience of transitioning from a CFO role to a general manager role, highlighting the value of gaining experience outside of finance.
https://youtu.be/H7yo5OxqE4E
Links
Mentoring at GrowCFO
Peter McKenzie's Mentoring Bio
Peter McKenzie on LinkedIn
Kevin Appleby on LinkedIn
Timestamps
Introducing Peter McKenzie (0:11)
How Peter ended up in Spain. (2:03)
How he got started in the financial industry. (4:17)
Peter's background with Coopers & Lybrand and PwC. (6:36)
The post-merger integration process. (8:49)
Peter’s story of how he learned to love speaking in public. (10:36)
The importance of public speaking for CFOs. (13:04)
Resilience is a requirement to have the drive and the courage to make mistakes. (15:39)
Getting comfortable with feeling uncomfortable. (18:20)
The moment you’re not doing a CFO role, are you doing a general manager role? (20:14)
Isaac Strulowitz is the CFO of CoVenture. Isaac joins Kevin Appleby on this episode of the GrowCFO Show to talk about how Isaac and his team at CoVenture were affected by the recent banking crisis and the things they put in place to manage the financial risks they were presented with. Their approach to risk management in general has changed as a result, and Isaac provides some great advice on managing risk for other finance leaders to take note of.
Summary
Isaac talked about his career path and how he became a CFO. He also discussed the challenges he faced in his new role and how he learned along the way. Isaac discussed the rapid growth of CoVenture from its early stages to a team of 28 full-time equivalents. He emphasized the importance of competence, humility, and empathy in his leadership style and acknowledged the need to bring on individuals with complementary skill sets as the team grows.
Isaac discussed how CoVenture was well-prepared for the banking crisis in mid-March and how they have since focused on risk management and diversification. He advised other CFOs to identify vulnerabilities in their business models and devise plans to mitigate them, while also being mindful of the impact of AI and the current credit crunch.
Kevin and Isaac discussed the impact of the current crisis on the FinTech industry, the importance of cash flow, and the skills needed to become a successful CFO, including a strong foundation in accounting and the ability to weave together a narrative backed by numbers. They also discussed the need for operational conservatism and the importance of striking a balance between inhibiting growth and preparing for the worst.
Kevin and Isaac discussed how working remotely during COVID initially allowed for more productivity, but as the team grew, it became harder to maintain that level of productivity and communication. Isaac shared how he found quiet pockets of time during the day to do his best work and how CoVenture is trying to figure out the best hybrid model for their team.
https://youtu.be/ZqK7OdaLnE8
Links
GrowCFO finance team training
GrowCFO Quests
Mentoring at GrowCFO
Isaac Strulowitz on LinkedIn
Kevin Appleby on LinkedIn
Timestamps
Introducing Isaac Strulowitz, co-founder of Co Venture. (0:11)
The culture shock of becoming a CFO of a startup. (2:56)
How did you get started in venture capital? (5:27)
How he’s picked up the leadership skills to manage a rapidly growing team. (7:57)
What’s going on in the banking sector right now. (11:13)
Diversification and risk management as a lesson learned. (13:26)
How often do you think you should be reviewing the risk register? (16:35)
Cash is king more than ever before. (19:03)
What would you be advising to aspiring CFOs? (21:16)
How have you managed to maintain your thinking time? (23:53)
Kevin Appleby chats with GrowCFO mentor Susana Serrano-Davey and finds out how to win your next finance job. Susana provides 5 great strategies to help you win at your next finance job interview.
Finance job interviews can be difficult for a number of reasons. Here are some factors that can make a finance job interview challenging:
- Technical Knowledge: Finance is a complex and technical field, and many finance job interviews will require candidates to demonstrate their knowledge of financial concepts, tools, and techniques. This can be challenging for candidates who don’t have a strong background in finance or who haven’t kept up with the latest industry developments.
- Problem-Solving Skills: Many finance jobs require candidates to be able to solve complex problems under pressure. During an interview, candidates may be asked to work through hypothetical scenarios or case studies that test their ability to analyze data and develop solutions.
- Communication Skills: Finance professionals often need to communicate complex financial information to others, including colleagues, clients, and stakeholders. Interviews may include questions about how candidates would communicate financial information to non-financial stakeholders and how they would handle difficult conversations.
- Behavioral Questions: Increasingly, finance job interviews include behavioral questions that ask candidates to describe how they have handled specific situations in the past. These questions can be difficult because they require candidates to reflect on their experiences and provide examples of how they have demonstrated key skills and competencies.
Susana has 5 great strategies to take with you to your next finance job interview. Listen to the full episode to find out what they are.
https://youtu.be/0nCKTk0MuEALinks* Susana’s Book “I Wish I had Known” is available at Amazon UK and Amazon US * Find your next role on the GrowCFO job board * Mentoring at GrowCFO with Susana Serrano-Davey * Susana Serrano-Davey on LinkedIn * Kevin Appleby on LinkedIn
TimestampsIntroduction to today’s show. (0:11)
What happens if you don’t show the right side of yourself during the interview? (3:21)
How to prepare for an interview with a CFO. (5:44)
Why every interview has to be dealt with differently. (10:13)
How do you know if you’re the right person for the job? (12:15)
How to ask the right questions at the interview. (16:39)
What does the interviewer think was the reason why the person failed? (20:19)
Kevin’s examples of where he has led teams outside of work. (23:41)
The most successful people will own the failure, not blame. (27:53)
Author, speaker and leadership coach Myles Downey joins Kevin Appleby on the GrowCFO Show. Kevin and Myles discuss how to empower your finance team. Myles is a thought leader and entrepreneur in the world of performance, learning and coaching. He is recognised as one of Europe’s leading business performance coaches with extensive experience spanning over twenty-five years.
Myles is a global authority on performance, coaching and leadership. He is the author of several coaching books such as Effective Modern Coaching. A lifelong tennis player, Myles says tennis has been instrumental in shaping his view of people and how they learn.
Myles’ work was initially inspired by reading The Inner Game of Tennis. The Inner Game of Tennis is a book written by W. Timothy Gallwey that explores the mental aspect of playing tennis and how it affects performance. The book suggests that one’s inner game, or mindset, is just as important as their physical skills when it comes to success in tennis (and other areas of life).
Gallwey argues that the conscious mind (which focuses on outcomes and judgments) often interferes with the subconscious mind (which controls muscle memory and fluidity of movement) in a way that hinders performance. He introduces techniques such as “non-judgmental awareness” and “letting go of self 1,”. These allow players to quiet their conscious minds and let their subconscious minds take over.
The book draws parallels between the mental struggles of tennis and those in other aspects of life, such as business and relationships. It has become a popular read in not only the tennis world but in the broader field of personal development as well.
Leader Performance is now Myles’ major focus. He has developed the Enabling Genius model This model is the subject of his book Enabling Genius – A Mindset for Success in the 21st Century. Kevin asks Myles what genius is. Myles argues that there is genius in everyone.
They go on to talk about getting the best out of your team. Myles asserts that the world of work and the needs of people in the workplace have changed. Old models no longer work. Today’s managers cannot rely on ‘command-and-control’ and a culture of compliance to get their job done. What is the answer? Listen in and find out, Myles shares some great insights.
https://youtu.be/0LJ6CCl5_gsLinks* Myles Downey on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Finance Team Training * Find out more about Myles Downey * Myles Downey’s books on Amazon UK and USA
Timestamps00:11 Introduction to Myles Downey and his work.
01:03 The inner game of tennis and the importance of awareness.
05:21 The importance of flow.
10:35 How do I help people explore their potential safely?
15:11 What is genius? What is the meaning of genius?
18:57 If people know why their work is important, how it fits in, and makes a difference in the organisation in which they work.
22:24 When you’ve got the most junior member of the team trying to develop them and you are trying to teach them new stuff.
26:15 Managing by walking about is here to stay.
30:28 What’s the one piece of advice that you would see as fitting to give to most finance leaders that would like to be better at doing this?
How well documented are your finance processes?
In many companies, the answer is not particularly well and there is far too much reliance on knowledge in the heads of key members of the team. This leads to all sorts of problems when it comes to improving the process or bringing in new team members.
Kevin Appleby chats to Alexis Kingsbury, co-founder of AirManual. Alexis founded AirManual to solve exactly this sort of problem and it forms a simple cloud-based solution that can be implemented quickly and simply.
Documenting your finance processes is important for several reasons:
- Streamlining Operations: By documenting your finance processes, you can identify inefficiencies and areas for improvement. This allows you to streamline your operations, improve productivity, and reduce the amount of time and resources spent on finance-related tasks.
- Compliance: Well-documented financial processes can help you stay compliant with applicable laws, regulations, and financial reporting requirements. This can help you avoid penalties, fines, and legal issues down the line.
- Better Decision Making: With clear documentation of your finance processes, you can make informed decisions based on accurate and up-to-date financial information. This improves your ability to forecast future revenue, manage expenses, and make strategic business decisions.
- Training and Knowledge Transfer: Documenting your finance processes ensures that your team members are appropriately trained and knowledgeable about how your financial system operates. This reduces the risk of errors, omissions, and misunderstandings, and helps ensure consistency and accuracy in financial reporting.
Overall, documenting your finance processes is essential for ensuring the financial health and long-term success of your business.
https://youtu.be/G72x8AAQ2YYLinks* Alexis Kingsbury on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO 2023 Predictions * Find out more about Airmanual
Timestamps00:11 Introducing Alexis Kingsbury.
02:35 The importance of learning from your mistakes.
08:24 Firing yourself from tasks is a healthy attitude.
14:08 What would you do if you were working with a client to improve a process?
18:21 How do you make it possible to zoom out and see at a high level?
23:18 How to use checklists in your business to automate your processes.
28:58 The three big process systems issues in finance right now.
34:20 The cost of errors and how it affects cash flow.
38:29 What are the rules around creating realistic expectations?
42:48 The power of a well-documented process.
47:42 Why you need a purpose-built system.
Richard Nugent is the founder and MD of TwentyOne Leadership. Over the past 15 years he has worked with some of the biggest and best known organisations in the world. He helps fast paced organisations build their capability and capacity for change.
His typical clients are executive teams in the FTSE Top 250 type businesses that are about to grow or change their strategic direction. Richard’s research and experience has led him to create unique and practical approaches to organisational and cultural change. He is particularly passionate about challenging clients to align their strategy, culture and brand.
The CFO is a key member of the leadership team. Richard Nugent believes that the leadership capability of your organisation directly shapes the culture of your organisation, shapes how innovative your products and services are and shapes the experience your customers have. We explore the role of culture and your role as finance leader in creating the right culture in depth in this episode.
Richard’s latest book “The Alignment Advantage” explores the alignment of strategy, culture and customers. These are the key elements of any business. But to truly succeed, they need to be effectively built, refined and aligned. Studies show that organizations which are highly aligned are 72% more profitable than their competition. The Alignment Advantage shows how you can achieve this through a practical and proven framework which can be adapted to all businesses whether it’s a small start-up, multinational organization or somewhere in between.
https://youtu.be/wwZUTfaNsjQLinks* How GrowCFO can help you with tools to build and execute your strategy * Mentoring at GrowCFO * Richard Nugent on LinkedIn * Kevin Appleby on LinkedIn * Richard Nugent’s books on Amazon UK and USA
Timestamps00:11 Introducing Richard Nugent
01:07 What’s happening with leadership teams that aren’t aligned in their thinking?
09:11 KPI scorecards should be the responsibility of the finance team.
10:40 How the strategic process actually comes about.
14:55 The difference between leading and managing a business and a culture.
20:24 The starting point for culture change has to be a strategy.
25:20 What sort of culture do you need to change?
30:51 What’s most important to you as a person?
37:19 The impact of culture on deliverables.
41:17 You’re the person that should own measurement
Ashley Vukovits, the newest member of the GrowCFO mentoring team, joins Kevin Appleby on the GrowCFO Show to discuss her career and her passion for mentoring the next generation of Finance Leaders. Besides mentoring, Ashley Vukovits is currently managing director of Liftbridge CXO. Liftbridge CXO specialises in placing fractional CFOs in start-up to scale-up stage technology companies helping them to the next level of growth.
Ashley is a board and advisory board member, consultant and angel investor. She utilises her expertise in financial matters, strategic initiatives, acquisitions, mentoring young professionals and high growth SaaS company success.
Ashley was Chief Financial Officer of a global public technology company and has 25 years of experience in accounting, finance and strategic leadership. She recently co-led a successful process to sell the company for $1.4 billion in a bid to go private. Prior to the sale, she led the financial transformation of the company moving from a premise-based sales model to the cloud. Ashley over 200 employees worldwide within finance, human resources, facilities, information technology, information security and product distribution.
https://youtu.be/mLg9IlP1i_oLinks* Mentoring at GrowCFO * Ashley Vukovits on LinkedIn * Kevin Appleby on LinkedIn
Timestamps00:11 Ashley Vukovits’ background in finance.
04:49 The challenges of coming to terms with being a CFO.
9:11 What sparks Ashley’s life outside the office.
12:55 What would your ideal mentor mentee look like?
17:10 How to break down your goals into bite-sized pieces.
21:31 Do you feel you’re drawn more to mentor women than men?
25:18 The challenge of making the jobs available to people from different backgrounds.
27:50 What would a typical mentoring relationship look like?
James Bannon and Suraj Tirupati from Startup Blueprint join Kevin Appleby on the GrowCFO Show and discuss the problems of finding funding for fast-growing startups. James and Suraj both work in the fundraising area and are podcasters at Startup Blueprint. They share insights for founders and finance leaders looking for start-up funding. They connect businesses looking for an investment with an investor network. On top of that, they create materials that help founders create pitch decks to help them fundraise.
Finding funding for fast growing startups can be a challenging task. However, there are several options available to entrepreneurs. Traditional fundraising methods such as venture capital and bank loans are common sources of capital, but more creative options are also gaining popularity. Crowdfunding is becoming increasingly popular with startups looking for an alternative way to raise money, and angel investing is providing entrepreneurs with access to capital that would otherwise not be available. Additionally, government grants and competitions offer a potential source of funding. As the startup sector continues to grow, more resources will become available for entrepreneurs seeking financial support.
In the episode we look at what the finance leader can do to support the fundraising efforts of the business; what a good pitch deck might contain; and why you need to know your numbers inside out.
https://youtu.be/1qVutfVduosLinks* Suraj Tirupati on LinkedIn * James Bannon on LinkedIn * Kevin Appleby on LinkedIn * CFO Competency Framework * GrowCFO Fundraising Transaction Simulator * Find out more about Startup Blueprint
Timestamps00:11 Introducing James and Suraj
01:03 How James ended up at venture capital firm.
03:46 The push and pull between what you enjoy doing and what you can get paid for in the moment.
09:47 What does a good pitch deck look like?
14:11 You need to ask why do you want fundraising?
15:39 Be clear about your projections
21:50 The importance of having a business plan for startups.
25:05 What’s the importance of having a vision and being adaptable.
27:22 Building a forecast of cash flow based on historical cash flow.
33:46 The rise of the fractional CFO and the future of the role.
38:33 Was it the business leadership’s fault? No.
Andy Cristin is a fractional CFO and author of the book “The Profit Mindset: Know your numbers, plan ahead, grow your business”. Andy started his career in Booker, an organisation famous as a cash and carry and for the Booker Prize. Subsequently, he honed his skills with involvement in a number of startups and smaller businesses. He now operates as a “virtual finance director”.
The Profit Mindset was shortlisted for the Business Book Awards 2020 and is an Amazon No. 1 bestseller. In The Profit Mindset, Andy Cristin asks: Is your business delivering everything you want it to achieve? Does it have predictable sales growth and a healthy profit margin?Does it provide you with sufficient leisure time and the prospect of a valuable exit? If not, it may be due to a lack of expertise on the finance side of your business. This is a common problem in small and medium-sized businesses. The book is intended to help business owners develop a profit mindset. It gives you the tools to improve your financial performance.
In this episode, we talk about the 4 step methodology Andy introduces in the book; some of his practical experience in applying each of the 4 steps; and talk about how being a published author helps his business.
https://youtu.be/lGyyenecvsMLinks* Andy Cristin on LinkedIn * Kevin Appleby on LinkedIn * CFO Competency Framework * Buy The Profit Mindset on Amazon UK and USA
Timestamps00:11 Introducing Andy Cristin and The Profit Mindset
05:20 Step 1 – Build a simple financial mode
07:35 Step #2 – Break down your business into its components.
10:45 What happened when a business went from a £20m annual profit to a £20m million pound loss?
14:27 Step 3: Know the business and where the profit comes from.
19:40 The five 10% improvements and the compounding effect.
23:03 Step 4 – Get a CFO to keep you accountable.
27:50 The importance of having a CFO.
32:01 The average book only sells 200 copies, but it’s the calling card.
David B Horne joins Kevin Appleby on this week’s #growcfoshow to discuss his book Funded Female Founders: How to traverse the uneven playing field and secure funding to grow your business.
The share of funding secured by female founders is unfairly and disproportionately low. A state of affairs that has remained unchanged for many years despite advances made in other areas of gender equality in business. The truth is that there is clear and consistent bias against female founders.
We discuss the extent of the problem of all female teams being rejected for funding and examine the root causes. David explains that the problem isn’t restricted to women founders but also applies to ethnic minorities.
David goes on to explain how women can approach the problem and get results and talks about his new fund that is expressly purposed to help female founders and founders from minority groups.
https://youtu.be/FKGq-gKC-d0Links* David B Horne on LinkedIn * Kevin Appleby on LinkedIn * CFO Competency Framework * GrowCFO Fundraising Transaction Simulator * Episode 9 Add then Multiply with David B Horne * Buy the book on Amazon UK and USA
Timestamps00:11 Introducing David B Horne.
03:50 David’s new book, Funded Female Founders.
08:11 Why is the investment world dominated by white male investors?
13:24 What’s going to change in the world in the long term.
18:49 David’s pitch deck and how it’s different for men and women.
22:44 Why you need to know who else is doing what you’re doing.
26:33 The best way to raise funds -.
29:39 Crowdfunding is a very interesting thing.
34:54 David’s vision for the future of startups.
How well does your profile stand out on LinkedIn?
In today’s competitive job market, it’s important to stand out from the crowd in order to make an impact and find new opportunities. LinkedIn is a great platform for professionals to showcase their skills, experiences, and goals – but with millions of users, how do you make sure your profile stands out? Anita Baldwin and Anna Geary founders at the Get Savvy Club are expert LinkedIn trainers and they have lots of helpful advice for you in this episode.
Anna and Anita tell you how to:
- Create a killer headline that summarizes who you are in one sentence.
- Craft a comprehensive summary that captures your professional story and sets you apart from the competition.
- Share relevant articles, blogs, or insights about your career field or interests.
- Highlight any unique experiences such as awards received, projects completed, or volunteer work done.
- Ensure all relevant information is included such as contact details and educational background.
- Engage with others by liking posts, highlighting colleagues’ achievements or commenting valuable insights to discussions.
Links* Anita Baldwin on LinkedIn * Anna Geary on LinkedIn * Kevin Appleby on LinkedIn * Find your next role on the GrowCFO job board * Future CFO programme
Timestamps0:12 Introducing Anna and Anita.
3:36 How to stand out from the crowd on LinkedIn.
8:24 Kevin’s experience with graduate recruitment programmes.
12:37 What’s the outcome that your employer wants?
17:48 How to use LinkedIn to find the right person.
19:36 How to add flesh to the bones to your LinkedIn profile and get a feel for your business.
25:10 Why do you want to work with us? What do you like about us?
29:37 How to determine what your own brand is.
34:40 Make sure your recommendations on LinkedIn are recent.
Jim Simpson is this week’s guest on the #growcfo show. He is the founder and CEO of Ziptech services, a company that specialises in supporting CEOs and CFOs to help them understand and make use of the latest advances in technology.Jim and Kevin chat about some of the latest developments in the technology field, focussing in particular on automation and AI. CFOs in charge of IT have a real challenge when it comes to keeping up with the latest innovations. Jim and Kevin look at practical ways to take advantage of the latest developments and make sure your organisation doesn’t get left behind.
As a CFO, you will often need to make strategic choices in areas where you have little or no expertise. This makes it difficult to reach informed decisions. Some of the common questions Jim finds CFOs ask include:
- Business process automation – How could it improve my business and how do we get started?
- Governance and financial controls – How do I know when I am getting ROI from my IT spending?
- Security and compliance – How do I know if my network and remote workers are secure?
- Future-proofing your investment – How can I build an infrastructure today that will see me through tomorrow?
Links* Jim Simpson on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO 2023 Predictions * Ziptech Services Directors Briefings
Timestamps00:11 Kevin introduces Jim Simpson, a technologist.
04:59 What’s going on in the world around automation and artificial intelligence?
10:30 How do business leaders keep themselves up to date with technological changes?
14:30 How do you make sure you’re getting the right people along?
19:25 How to write a blog post with Otter.
24:21 Software that can look for errors and patterns.
29:31 How do we get our heads around some of this?
32:01 What sort of person or people would you be looking at for this role?
Yoana Land is inspirational. Originally from Transylvania, which is part of Romania, she moved to the United States and has risen to become CFO Transformation at L’Oreal North America. She tells Kevin Appleby all about the challenges that her journey has given her and how she overcame them. We talk about taking on a role in China during the pandemic. Not the best time to attempt a move to the far east! Yoana goes on to explain her current role and tells us what a CFO Transformation actually does. This role is another is a big challenge as its a brand new role and Yoana has nobody to learn it from.Yoana Land is a dynamic, hyper-growth driving CFO offering 20+ years of financial and business acumen developed in Fortune 500 companies. She has an MBA in strategy and finance from Duke University and an MS in Finance from Harvard. Yoana is a strategic financial advisor to the CEO, and her background includes financial planning and restructuring, M&A deals, digital transformation, operational controllership, global change management, strategic planning and analysis, vendor negotiation, emerging and developed market growth strategies, organizational turnaround initiatives and IT implementation.
Links* Yoana Land on LinkedIn * Kevin Appleby on LinkedIn * Overcome Imposter Syndrome: A Guide to Building Confidence for Finance Leaders * CFO Competency Framework * GrowCFO Future CFO Programme * Free Course: New Role – Your first 100 days
Timestamps0:11 Today’s guest: Yoana Land
2:33 How good was your education in Romania?
7:01 Why she started a master’s in psychology at Harvard.
9:31 How much FPA experience did you have from American Airlines before you took the CFO role?
15:12 What did you have to do in that role?
17:27 You don’t have to be a subject matter expert to be successful in business.
22:33 What went wrong and what did you do about it?
24:59 The story of getting Yoana to Shanghai.
30:04 What does the CFO Transformation do?
31:30 What are the challenges of being in a brand new role?
Victoria Topham is the commercial director at Profit Impact. Profit Impact helps accountants get to grips with ESG and sustainability. She comes from a finance background, and we discuss the role of finance teams in ESG and sustainability.
The finance team plays a critical role in Environmental, Social and Governance (ESG) and sustainability reporting. This reporting is intended to provide stakeholders with an understanding of the company’s current performance in areas such as climate change, social equity, and corporate governance.
The finance team should ensure that ESG and sustainability reporting includes accurate data for all relevant metrics used to measure organizational performance. They should also be responsible for managing the process of collecting data from various sources, ensuring its accuracy and timeliness. Furthermore, they should help interpret the results of the reports to identify any trends or unmet goals that can be addressed with proposed solutions or adjustments. Finally, they should lead the effort in developing strategies designed to improve the organization’s ESG profile over time.
Some finance teams are playing a critical role in developing reporting for B Corps. A B Corporation (or B Corp) is a for-profit company that has been certified by a third-party organization with regard to its social and environmental performance, accountability, and transparency. B Corps are committed to meeting higher standards of social and environmental performance, transparency, and accountability — as outlined in the B Corporation Declaration of Interdependence. These companies strive to create a positive impact on society, workers, the community and the environment in addition to pursuing profitability goals. This certification process requires businesses to meet and provide evidence of both their social and environmental performance. By becoming certified as a B Corporation, companies demonstrate their commitment to making decisions that serve the greater good, rather than just maximize profits for shareholders
Links* Victoria Topham on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Finance Predictions 2023 * GrowCFO Finance Team Training
Timestamps0:11 Introducing Victoria Topham
2:20 Sustainability and finance in the real estate industry.
7:04 Is the pressure coming down the supply chain around sustainability?
9:18 What does Profit Impact do?
13:37 Why should the finance person be taking a lead in sustainability?
17:46 What’s a B Corporation?
20:39 Female founders vs male founders in B Corporations.
24:38 What’s the impact of ESG on the environment?
29:40 Is the need for consistency and discipline around reporting going to be a major factor in the future?
Hannah Munro returns as this week’s guest on the GrowCFO Show. Last time we discussed managing change, this time we looked specifically at the month-end close.
Hannah Munro is the Managing Director at ITAS and host of the CFO 4.0 podcast. Hannah’s company ITAS are often involved in helping clients implement new accounting solutions, so she has lots of practical experience in using software solutions to speed things up and improve reporting.
Kevin and Hannah take time to consider how technology can help you improve your close. Hannah believes that technology isn’t really the issue. The normal cause of a long close is a poor process. You need to sort your processes out before you use technology, otherwise, all you do is automate inefficiency.
Real-time reporting is one of the key GrowCFO predictions for 2023. You need to have great processes before you can make the step away from the traditional month-end.
To run a successful business, you need accurate and up-to-date financial information to make important decisions that affect the future of your company. Each department needs self-service access to this information on a real-time basis in a flexible format. However, most companies still rely upon month-end reporting, which is based on past data and is less user-friendly by nature.
The increased adoption of real-time financial software will continue to revolutionize the way organizations view their finances. By accessing live data, companies will make decisions much faster and smarter than ever before. In turn, this will streamline the month-end reporting process and lead to the eventual phasing out of the monthly close process altogether.
Listen to the full episode and find out more
Links* Hannah Munro on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Finance Predictions 2023 * Future of Finance Functions * GrowCFO Show Episode 13 with Hannah Munro
Timestamps1:09 Is shortening the close process something you see as a task quite often with your client?
5:54 What is the difference between a key performance indicator and a result indicator?
12:27 Is it important to be accurate to the last penny?
16:06 How long do you spend in a business meeting where you have multiple versions of the truth?
21:07 The importance of using numbers in finance.
25:44 What AI can do for reconciliations and checks.
29:41 The importance of getting data right the first time is the first step towards the continuous close.
33:07 How technology needs to fit into your automation process.
Amy Spurling is Founder and CEO at Compt. She is a seasoned executive with over 20 years experience in leadership roles at venture-backed companies ranging from early start-up phase through high growth and ultimately exit. Amy’s backgound is finance and her resume includes CFO roles at Jana; Backupify and EXOS and COO at Bedrock Data. She has completed successful fundraising rounds at each of these organisations, including a $57m series C.
Now Amy Spurling is running her own company. Compt helps companies build, streamline, and scale employee perk stipends that delight teams and give companies a more productive and engaged workforce. Everyone has different needs, and she beleives that when perks take this into account the value to the employee goes beyond just beer or catered lunches and becomes so much more.
We talk about the concept behind Compt, and look at how you can retain people and improve employee engagement very effectively without breaking the bank to do so. Something thats very welcome when you have budget constraints.
Links* Amy Spurling on LinkedIn * Kevin Appleby on LinkedIn * Find out more about Compt * Flexible training at Learnerbly * CFO Competency Framework * New free resources: The GrowCFO CFO Competency Framework eBook and Career Routes to CFO report * Future CFO programme
Timestamps0:11 What role do you have in Compt?
4:12 What’s the current state of employee perks in the US?
9:06 Sustaining employee engagement is part of a multivariable puzzle.
14:03 The company gets to customise what they want employees to be able to focus on.
19:19 What is the difference between a benefits system that is personalised to company culture and one that is aligned with the company culture?
22:47 The learnerbly allowance
28:25 Why is all of this on a budget?
33:30 How do you approach that particular conundrum at the moment if you want to reduce the number of people you’ve hired?
Timothée Clément, Country Manager in UK and Ireland at Agicap joins Kevin Appleby to discuss How to Implement a cashflow forecasting system.
Cashflow forecasting is one of the most important aspects of financial planning for any business. Unfortunately, it can also be one of the most difficult things to get right. Many businesses choose to use Excel to create their cashflow forecast, but this can often lead to mistakes and inaccurate data. In this episode, we discuss the benefits of using a cash flow forecasting app instead of Excel.
Having an accurate cashflow forecast is essential for any business, whether they are just starting out or have been running for years. Fortunately, new technology has made it easier than ever to create accurate forecasts.
One major benefit of using a cash flow forecasting app is that it eliminates user error when inputting data into spreadsheets. Excel spreadsheets require manual entry which leaves room for mistakes such as incorrect formulas or typos which can lead to inaccurate results. Cash flow forecasting apps automate much of this process so you don’t have to worry about making errors while entering data into your spreadsheet. This helps ensure that your projections are always accurate and up-to-date.
Agicap is one such system, and Kevin and Timothy discuss how you might go about switching from Excel, the change process you might go through, and the benefits to your business.
Links* Timothee Clement on LinkedIn * Kevin Appleby on LinkedIn * Agicap cash flow management software * CFO Competency Framework
Timestamps00:11 What is Agicap?
04:26 How to update the cash flow model in real-time
06:12 What’s the difference between a cash flow model and accounting software?
09:57 The first step of transformation is confidence, then implementation.
14:24 What is the success of this system? What constitutes success?
18:47 What are some of the new product lines that you’re offering?
22:58 How can you be sure your data is still secure in the cloud?
27:42 What are some of the biggest changes you need to make in the business when you implement this?
32:09 What are the benefits of having a system like this?
Wassia Kamon is simply a brilliant person. She arrived in the USA at 17 from Ivory Coast, West Africa, where English wasn’t her first language. She adjusted to a totally new way of life, learning to be part of a minority rather than in the majority.
Wassia excelled, she joined PwC, qualified as an accountant, and is now performing a finance leadership role. In doing so she overcame the triple challenge of language, race and gender. She is naturally an extrovert, but these challenges along with imposter syndrome found her in a place she really didn’t want to be. Often the only female or only black person in the room, she found it very difficult to be herself. Her story is inspiring as is her passion to help others.
She now wants to pass on the learning she gained from her experiences. Outside work she mentors other people. In particular, she is passionate about helping women develop as leaders. She has quite a story to tell.
Listen to the whole of this week’s episode of the Growcfo Show. I promise you that you will be impressed!
Links* Wassia Kamon on LinkedIn * Kevin Appleby on LinkedIn * Overcome Imposter Syndrome: A Guide to Building Confidence for Finance Leaders * CFO Competency Framework * GrowCFO Future CFO Programme * Free Course: New Role – Your first 100 days
Timestamps1:02 Wassia Kamon’s Background
3:16 How did you get to the role of VP of finance?
6:30 Coming to the US as a teenager from Ivory Coast, Africa.
10:56 The things you have to overcome in your mind to bring confidence to your workplace.
14:09 The fear of failure and the fear of not being enough.
19:11 Being part of the finance team and being able to navigate those relationships.
23:17 What’s top of Wassia Kamon’s 2023 personal objectives?
27:33 The importance of being a mentor.
On this week’s GrowCFO Show, we’re talking about the fear of failure. What happens if it all goes wrong in the first 90 or 100 days in your new role as a CFO or top finance leader?
Kevin Appleby is joined by Catherine Lamb from spectrum 360 coaching career management. Kevin and Catherine discuss how you should approach your first 100 days in a new role. They discuss how to lose your old identity and put on a new one, and spend time looking at imposter syndrome and what to do if you find yourself suffering from it.
Do you fear failure when you take on a new role?
Don’t worry, it’s quite a common problem, as Catherine Lamb explains. Catherine gives us some great advice on dealing with that fear and some great practical strategies to help you avoid the fear in the first place. We’ve also got some great free resources to help you go further. Take a look at the links below.
Links* Catherine Lamb on LinkedIn * Kevin Appleby on LinkedIn * Overcome Imposter Syndrome: A Guide to Building Confidence for Finance Leaders * CFO Competency Framework * GrowCFO Future CFO Programme * Free Course: New Role – Your first 100 days
Timestamps0:11 What happens if it all goes wrong in your first 90 or 100 days as a CFO?
7:54 The importance of having a mentor in your new role.
13:11 Is there a particular period in a new role where you can get away with asking silly questions?
18:26 Kevin’s first 100 days in business.
23:46 Who are the best people to tell you what’s going wrong?
29:21 The fear of coming up short in the first 100 days.
34:06 The CFO competency framework and how it’s changing.
Ercole Manzi joins Kevin Appleby on The GrowCFO Show to discuss the state of funding markets in 2023 and what this means for your business.
Ercole Manzi helps Fin/Tech start-ups to raise funds, improve their valuation reduce tax and funding costs. He has worked in Shenzhen, Milan and London. This gives him a great understanding of the funding markets and he provides some great insights into what might happen in 2023 as the availability of funding reduces.
We’ve already seen the impact of reduced funds in the episode we recorded with Christoph Iwaniez at the bitcoin bank Nuri, and how that stretched his skills as a CFO. In this episode, Ercole tells us other ways CFOs will need to respond to the potential scarcity of funds. Ercole believes that managing risk will be more important in the coming months and years.
Ercole Manzi has been working with emerging tech companies in China, and that experience has given him a different outlook. He explains more in the interview.
Links* Ercole Manzi on LinkedIn * Kevin Appleby on LinkedIn * CFO Competency Framework * GrowCFO Fundraising Transaction Simulator * Episode 114 How to lead a team through insolvency with Christoph Iwaniez
Timestamps0:11 What is the state of the investment market in 2023?
4:09 What are the main things that he’s focused on now?
7:17 What lessons did you learn working with tech companies in China?
10:52 Risk must be at the top of the CFO’s agenda for any tech company.
14:53 Ercole Manzi advises that you shouldn’t delay in securing your next round of investment.
18:10 What is the definition of a payment startup company?
22:45 Where do you think talent development is going at the moment?
26:27 Global experience is going to be more important than ever.
29:51 When times get tough, one of the first things that usually gets cut is the training budget.
The finance technology landscape is changing quickly. Possibly at a rate faster than ever before. So, what can we expect to see in 2023. Kevin Appleby caught up with Adam Shilton, Founder at Tech for Finance and host of the Tech for Finance podcast. Kevin asked Adam what he thought the best technology for finance leaders would be in 2023.
AI is an emerging force, and its role in finance shouldn’t be underestimated. We’re predicting that technology will have a major impact on financial controllership. The ability of AI to spot errors and anomalies will be considerable and may be one of the keys that will unlock time in the monthly close.
We also discuss apps that can help us as finance leaders. Again, emerging apps are making use of AI. Quillbot can improve your writing. Timeflip allows you to better manage and record your time. Todoist lets you manage tasks and Microsoft Viva helps teams engage. Listen to the full episode to find out even more.
Links* Adam Shilton onLinkedIn * Kevin Appleby on LinkedIn * GrowCFO Business Partnering Bootcamp * Quillbot https://quillbot.com * Timeflip https://timeflip.io * Appfluence https://appfluence.com * Todoist www.todoist.com * Microsoft Vivahttps://www.microsoft.com/en-gb/microsoft-viva * Whatifi www.whatifi.io * Borncapital https://www.borncapital.vc
Timestamps0:11 Adam’s background and how he became a tech expert.
2:10 What are some of the things that you’ve seen in 2022 that might be a huge help?
6:42 What have you seen in the use of AI in finance?
12:00 What’s radically different in the automation space over 2022?
16:53 How do you know if an app is going to integrate?
21:59 What’s the biggest difference between Motion and ScatterPowell?
26:31 What’s your favourite tool?
30:50 Business Partnering Bootcamp –.
35:50 The importance of using the “why” and “how”.
40:00 How to use writing as a therapy tool.
45:01 The stuff you should be worried about is the stuff that never happens.
Christoph Iwaniez describes himself as a Passionate, inspiring and motivating leader. Resilient in times of challenges and determined to get the job done. His unique strengths are in the area where corporate finance meets legal and regulatory issues. This has been put to the test in the last few months at Berlin-based bitcoin bank Nuri.
Nuri was founded in 2015 under the name Bitwala with the purpose to make Bitcoin spendable. Trading ceased on 31 December 2022 and remarkably all the bank’s customers were able to remove their funds without any losses.
In this episode, Christoph Iwaniez tells us how an initially successful fintech company struggled to raise vital funds and ran into liquidity problems and filed for insolvency. The really interesting story is what happened after that and how Christoph then led a small team of committed individuals to wind up the affairs of the bank. This really did require a passionate inspiring and motivated leader to keep the team together and to navigate the legal and regulatory issues.
Links* Christoph Iwaniez on LinkedIn * Kevin Appleby on LinkedIn * GrowCFO Business Partnering Bootcamp
Timestamps00:11 Introduction to today’s show.
01:10 How did you get to the situation you’re in?
04:03 What role does the CFO play at Nuri?
09:17 What happened to the business after the first funding round?
14:32 What changed that made a new funding round critical
16:58 Re-branding and raising funds.
22:44 How they’ve managed to keep the platform running even though they are running out of funds?
27:41 How to motivate the team as they wind down.
30:05 Some good people wait for the right time to move on to the next opportunity.
35:07 Which were the toughest challenges
NLP stands for Neuro-Linguistic Programming, and it is a powerful tool that you can use to improve your life. NLP allows you to change your thoughts and behaviors by understanding how your mind works. It can help you overcome fears and phobias, achieve your goals, and much more. In this episode Susana Serrano-Davey and Kevin Appleby discuss what NLP is and how you can use it to improve your life!
NLP is based on the idea that the way we think about and interpret the world around us affects our behavior. NLP techniques help us identify and change unhelpful patterns of thinking, feeling, and behaving. By recognizing how you respond to certain situations or stimuli, you can begin to make different choices that lead to better outcomes for yourself.
One of the most powerful ways to use NLP is to set and achieve goals. By breaking down a goal into small, achievable steps, you can monitor your progress and stay motivated. An example would be if you want to lose 10 pounds in 6 months; you could make a plan with daily or weekly actions that will help you reach your goal.
Another way to use NLP is to overcome fears and phobias. By understanding the source of your fear or phobia, you can begin to challenge any negative thinking patterns associated with it. You can also use techniques such as visualization and affirmations to help clear away any blocks or mental obstacles standing in your way.
Finally, NLP can be used to improve your communication skills. By understanding how people think and react to certain situations, you can become better at reading their body language and responding in a way that is more effective for both parties.
NLP is an incredibly powerful tool that you can use to change your life for the better.
Links* Susana’s Book “I Wish I had Known” is available at Amazon UK and Amazon US * Mentoring at GrowCFO with Susana Serrano-Davey * Susana Serrano-Davey on LinkedIn * Kevin Appleby on LinkedIn
Timestamps0:11 What is NLP and why should we be worried about it?
4:33 Using NLP for a good or bad purpose.
9:00 There is no such thing as the ultimate truth, it’s all an interpretation.
15:13 How do you influence people to get the right outcome?
19:01 What is the connection between values and success?
22:03 It’s like an iceberg. The bit above the water is what we know about ourselves and how we interact with the world. Below that lies everything else.
27:56 Do you need to understand where your beliefs come from in order to move away from them?
30:51 How do you use your body as a tool to have better outcomes?
Phil Walker and Geoff Fletcher, Co-Founders of Mettryx join Kevin Appleby to discuss the significance of Providing FP&A as a Service to Clients. Geoff and Phil explain the concept behind Mettryx, and the type of company that they would generally work with.
Phil is a recent alumnus of the GrowCFO FutureCFO programme. The new business he and Geoff formed while he was part of the programme is a major change of direction for both of them and is a different approach to providing fractional CFO services.
Most finance leaders understand what FP&A is and why it’s needed. Many small or medium businesses don’t have the financial expertise, and can’t afford full-time resources that take them beyond basic bookkeeping. Often these businesses don’t even realise what they are missing out on.
Navigating growth can be a challenge for any size company. From start-up through to post investment, businesses need to be able to demonstrate a firm grasp on the financials. Strong process and controls, positive cash flow, well managed costs, healthy margins and well constructed business/financial plans. Mettryx provide on demand Finance services to support your business achieve all of this and more.
We talk about the challenges of launching this sort of business from scratch and the obstacles that Phil and Geoff have overcome and we look at where the future lies for both of them and their own business growth plans.
Links* Phil Walker on LinkedIn * Geoff Fletcher on LinkedIn * Kevin Appleby on LinkedIn * Mettryx * Future CFO programme
Timestamps0:11 Introducing Phil Walker and Geoff Fletcher.
2:36 How did Geoff and Phil get together?
5:45 The importance of FP&A as a service for SMEs.
8:18 What sort of analysis would you be doing for one of your typical clients?
10:52 How do you go about marketing your services to business owners?
16:03 Have you managed to find enough clients to fill your service up?
18:51 What apps are you using? What are the most adaptable?
21:18 How do you ensure the quality of what you’re producing is producing a result to hand?
23:28 Why an offering like Mettryx makes more sense than hiring a more affordable, but less experienced accountant into an organisation.
25:17 What do you think the business will look like in five years time?
Jeremy Rudd is an experienced Interim CFO for PLCs and SMEs in the UK. After qualifying as an accountant he worked for Metal Box plc before embarking on a consulting career during which he has worked with clients ranging from computer giant IBM to tanneries and chocolate biscuit manufacturers.In 2017 he published a book '4 Magic Steps to Double Profit' designed to help managers, entrepreneurs and accountants(!) understand business financial dynamics in a fun and insightful way.In this episode we talk about the book, why Jeremy wrote it, and some of the stories he shares. Jeremy comes from a background of business change and business process reengineering, and we talk about the 3 roles the CFO plays.The CFO needs to identify changes that are needed, propose solutions and take people on a change journey from the old world to the new. This week’s guest on the Growcfo Show is an expert in business process improvement and has implemented change programmes in businesses both large and small. Jeremy Rudd shares some of his wisdom on this week’s podcast LinksJeremy Rudd on LinkedInKevin Appleby on LinkedIn4 Magic Steps to Double Profit on Amazon UK and Amazon USAGrowCFO Business Partnering BootcampTimestamps02:25 Jeremy Rudd's background in the family business.07:18 How did you get into the business of accounting?11:07 The vital role of the CFO in business today.15:26 The CFO’s role in business change is threefold.19:59 The CFO is in a position where they must engage with their peers and help them enjoy the numbers.24:40 Who’s your target audience?29:26 The importance of understanding the costs of your product.37:39 Why fixed costs aren’t really fixed.
Melissa Hurrington is both CFO and VP Operations at Premier Claims. This means that besides finance she is responsible for a lot of different functions within the company. In this episode she shares how she manages these widely varying activities and multiple teams of people. We talk about her route to CFO and how along the way she got to love operations too. We find out why she quit her dream job. How she became CFO at Premier Claims and talk about the challenges she faces day to day and spend time discussing her leadershp style.
Melissa Hurrington describes herself as a servant leader. Kevin Appleby asks her to explain exactly what this means and Melissa talks about how to create an environment where every team member has everything they need to thrive and perform well. Melissa goes on to talk about setting expectations and managing underperformance.
Links
Melissa Hurrington on LinkedIn
Kevin Appleby on LinkedIn
CFO Competency Framework
New free resources: The GrowCFO CFO Competency Framework eBook and Career Routes to CFO report
Future CFO programme
Timestamps
0:11 Introduction to Melissa Hurrington, CFO of Premier Claims.
2:47 How many people do you manage in the context of leading multiple departments?
8:20 Melissa's path to becoming a CFO.
13:22 Why operations is something she fell in love with.
16:09 You’re going to get what you pay for in this space.
21:48 The importance of setting the tone for the week with weekly team meetings.
26:48 How to deal with underperformance in your team.
28:51 Are you on the same page with your team?
34:33 How to know if you’re ready to move on.
39:41 Being clear in what the ask is before anyone works here.
Patrick Butcher learned how to become a leader while undertaking the CFO role at a succession of enormous organisations. His cv includes Network Rail, London Underground and Capita. He admits that he didn't always get leadership right the first time and it took a while to become a great leader. The lessons in leadership he learned on the way have been precious, and he shares them in this week's podcast. It's a great story and well worth a listen.
Patrick Butcher is a Board level executive with a track record in financial and operational leadership roles in listed, PE backed and public sector organisations. Proven ability to create value through restructuring, organic and acquisitive growth strategies, and capability building. Combines commercial and transformation leadership skills with a core finance background and strong communication skills.
Patrick has developed a great leadership model. He calls it the 5 Cs of Leadership and he explains to Kevin Appleby what this is all about.
Links
Patrick Butcher on LinkedIn
Kevin Appleby on LinkedIn
How to Get More Involved in Strategy, A free workshop with Patrick Butcher
Timestamps
0:12 Introduction to Patrick Butcher, CFO.
1:32 Why did you decide not to become a lawyer?
4:32 How Patrick’s career in the public sector began.
9:25 What happened after he left London Underground?
12:22 Selling EWS to Deutsche Bundesbahn
18:04 Patrick’s first meeting where he felt he needed to shout at his team.
21:32 What are the questions we have to ask as a business?
24:04 The role of the CFO in creating a more sustainable business.
29:23 What has Patrick Butcher been up to lately after leaving Capita?
32:02 Patrick’s five-step model for leadership.
If you're looking to increase the value of your business, you're in the right place. In this episode, we will discuss methods that will help you triple your business valuation. By following the advice from Felix Velarde, you'll be able to get a higher return on investment when it comes time to sell your company. So what are you waiting for? Let's get started!
Felix Velarde is a returning guest to the GrowCFO Show. Last time we talked about the role of the CFO in a high growth business strategy. This time we focus more on the things you need to do to make sure you get the best business valuation when you sell. We talk about the factors that make a difference, and why some company values get discounted. Felix tells us about his new business AVA Acquisitions, which specialises in buying agencies growing them fast and then selling them.
The process Felix uses is laid out in his book Scale at Speed. It's not rocket science, he just applies the principles of developing and executing a good business growth strategy. He uses similar techniques to those we teach on GrowCFO's Business Strategy Bootcamp.
Links
Felix Velarde on LinkedIn
Kevin Appleby on LinkedIn
GrowCFO Business Strategy Boot Camp
Buy scale at speed on Amazon UK or on amazon.com
Listen to Felix in episode 65 of the GrowCFO Show and on The Next 100 Days Podcast
Timestamps
0:12 Introducing Felix Velarde
4:11 Felix's new business, buying and scaling agencies.
8:09 What is a multiple of profit?
12:55 When selling an agency, you need to ensure the discount factors don’t apply to your business valuation.
16:59 The problem with waiting for a couple of years is that you are introducing risk by holding your own company.
21:27 What is a 3x programme?
26:39 What are the risk factors in a 3x business?
30:33 Why 3x doesn’t mean you’ve got to scale turnover by 3x to get the business valuation you want.
We've mentioned Susanna Serrano-Davey's upcoming book in previous episodes of the podcast. It's finally available to buy. Podcast host Kevin Appleby thought it was only right to spend an episode with Susana to discover what "I Wish I Had Known" is all about.
The book draws on Susana's 30 years of experience and covers all those things she wishes she had known about at the beginning of her career. Education gives you lots of head knowledge, but nobody ever teaches you the skills you need for the world of work.
Susana qualified as an accountant and learned lots about audit, accounting, and preparing financial reports. She needed to learn a whole lot more to become a manager and then a CFO. New things need to be mastered. How do you manage a team? How do you work with boards and committees? How do you set expectations with your manager and the rest of the business? These are just a few, and there are many many more.
The book isn't aimed at finance people. It's relevant to just about everyone new to the workplace and progressing through the early years of their career. Susana believes people at the later stages of their careers will still get a good amount from the book, there are always new things to learn.
Links
In the podcast, Susana mentioned a special offer for podcast listeners. You can access it hereMentoring at GrowCFO with Susana Serrano-DaveySusana Serrano-Davey on LinkedInKevin Appleby on LinkedIn
Timestamps
1:33 "I Wish I had Known" is a condensed version of 30 years of experience.
3:13 How have you put all of this great stuff on paper?
5:13 How to turn a topic into something that helps you -.
7:20 Who exactly is the book aimed at?
9:13 As you grow, the skills that will make the difference become more important.
11:01 Why you need to work on your self-inquiry.
13:41 It’s not all about the destination, it's about the journey.
16:07 What you can do if you want to get in touch with Susana
17:51 Who would you like to dedicate this book to?
Andy Bass is the Managing Director at BassClusker Consulting. He helps organizations to overcome their limits to growth by tapping into their unique – often hidden – resources.
The limits can be external – for example, competitors are learning fast and making it hard for you to stand out. Or they may be internal – for example, you know what the business needs to do, but although your people agree to do it, they aren't following through...
Andy explains ways to overcome these problems in his book, "Start With What Works: a faster way to grow your business". He shows you a faster way to grow your business by using the resources, people and customers you already have at hand.
In this episode, Andy Bass covers the ten principles outlined in the book and goes on to talk about his new book "Committed Action" which is due to be published on 7 November.
Links
Andy Bass on LinkedInKevin Appleby on LinkedInStart With What Works on Amazon UKGrowCFO Strategy Bootcamp
Timestamps
00:12 Welcome to the show and introduction to Andy Bass.
03:33 Andy's book "Start with What Works" and its 10 Principles
05:07 Principle 1 - Recombine existing elements so they create more value.
09:27 What’s stopping you from executing your strategy?
11:07 Principle 2 - Escape from fixed purposes
14:57 Principle 3 - Reverse engineer yourself
16:52 Principle 4 - Let the world teach you
19:35 Principle 5 - Watch what actually happens
20:57 Principle 6 - The few things that really make a difference
22:18 Principle 7 -Use very plain words to describe how you would want things to be.
23:20 Principle 8 - look beyond them and us
25:06 Principle 9 - Bring customers inside
26:54 Principle 10 - Give control to get control -.
29:09 How to get your people on board with your growth strategy.
29:30 Andy Bass' new book - Committed Action
Scott Bly is CFO of Seattle-based International Parking Management. He is an entrepreneurial CFO with a passion for helping small business owners articulate and realize their vision. Scott joins the GrowCFO Show to talk about values. In particular, the importance of aligning personal and company values.
When it comes to company values, there is no "one size fits all" approach. Every business is different, and as such, will have different values that are important to them. The key is to ensure that your personal values align with those of your company. If they don't, you're going to run into trouble down the road.
values are the foundation of any successful company. They provide guidance and direction for employees and help to create a cohesive culture. When values are aligned, both personally and within the company, everyone knows what is expected of them and what direction they should be moving in. This creates a sense of purpose and unity, which can help to improve productivity and satisfaction.
There are a few key things to keep in mind when trying to align your personal and company values, and Scott outlines these during the episode.
Links
Scott Bly on LinkedInKevin Appleby on LinkedInGrowCFO Strategy BootcampCFO Competency Framework
Timestamps
0:12 Scott’s background and how he got into finance.
3:00 What advice would you give to someone who’s on that journey at the moment?
7:06 How do you help your customers and vendors be successful?
11:05 Think about strategy and where you’d be going in a boot camp.
13:28 The importance of diversity of views in business.
17:24 How do we get more diversity into the finance team?
19:33 The importance of being honest with your customer.
23:17 The challenge of having the willpower to be present for your family.
25:30 What would Scott’s strengths be in mentoring an up-and-coming CFO?
Gary Cokins is an internationally recognized expert, speaker, and author in performance improvement systems and advanced cost management. He believes that many organizations are far from where they want and need to be to improve performance, and they apply intuition, rather than hard data, when making decisions.
Gary explains why Enterprise performance management (EPM) provides a portfolio of managerial methods that can make a real difference. These include:
strategy execution with a strategy map and its companion balanced scorecard (KPIs) and operational dashboards (PIs); enterprise risk management (ERM); capacity-sensitive driver-based budgets and rolling financial forecasts; product/service/channel / customer profitability analysis (using activity-based costing [ABC] principles); customer lifetime value (CLV); lean and Six Sigma quality management for operational improvement; and resource capacity spending planning.
In this episode, we take a brief look at the tools and explore why many companies are slow to adopt them.
Links
Gary Cokins WebsiteKevin Appleby on LinkedInCFO Competency FrameworkBusiness Strategy Boot Camp
Timestamps
0:12 Gary’s background.
4:37 If your competitors are adopting and integrating all of these methods, they will have a competitive advantage -.
9:43 How do you solve the problem of a company that hasn’t adopted these methods?
13:52 The importance of understanding what people spend their time doing.
15:43 What is customer profitability?
19:21 How to make your customer more profitable.
23:02 Process improvement people get the benefit of the balanced scorecard.
26:27 Gary’s frustration with the slow adoption rate of ABC.
30:11 What might a CFO do in the next 100 days to start going down that journey?
Chris Roling is the CFO at Coinme. He has 25 years of commercial and private equity experience having served in board, CEO, COO, and CFO positions with a number of global public and private companies. His previous experience is deeply rooted in venture capital, making him an expert on the current state of investor funding and how to acquire it in a bear market.
Chris provides some great insights into the following:
What best practices and insights on critical strategies can assist companies in improving and sustaining their valuation/operations to attract investorsWhat alternative fundraising strategies work in a disruptive marketHow to seek out and determine which investors best fit a company’s business model
Chris Roling has also been a partner at Ernst and Young. We know from GowCFO research into routes to CFO that it's very unusual for a resume to contain both CFO and Big 4 partner roles. We find out from Chris how that came about.
Links
Chris Roling on LinkedinKevin Appleby on LinkedInRoutes to CFO Research ReportGrowCFO Fundraising Transaction SimulatorGrowCFO Future CFO programme
Timestamps
00:12 Welcome and introduction to Chris Roling.
02:38 How Chris became a CFO at a very senior level.
04:40 What does it mean to be a direct admit partner?
06:54 What is the current state of investor funding?
11:15 If you do not have enough cash runway you can get yourself into a predicament.
14:00 What is the difference between B2B and B2C companies?
16:19 How to separate the wheat from the chaff in the fintech space.
20:24 The importance of having a shortlist of investors to approach.
22:14 What you need to do to become investor friendly.
24:48 The importance of having a cash flow forecast.
They tell you never to meet your heroes. So did Kevin Appleby make a mistake inviting Laura Vanderkam on to the GrowCFO Show? You will have to listen to the episode and make up your own mind about that!
Kevin recommends Laura's book "168 Hours" every time he runs a module 3 workshop on GrowCFO's Future CFO Programme. It's essential reading if you need to find a few extra hours every week to sort out your own personal development and career progression. Laura tells us more about 168 hours in this week's episode.
Laura Vanderkam is a keynote speaker and author of multiple books. She is about to release her latest work "Tranquility By Tuesday" based on a time diary study of over 150 people. In the book, you’ll learn nine tried-and-true “rules” to easily build opportunities for joy, nourishment, and fulfilment into your schedule. These strategies will help you make what you want to happen, actually happen, instead of letting the minutiae of everyday life get in the way. Better still, listen to the podcast episode as Laura reveals to Kevin what all 9 rules are. These rules of course are of limited use to Kevin. He might get to have tranquillity next Tuesday, but his problem is he still can't get the hang of Thursdays!
Links
Laura Vanderkam websiteKevin Appleby on LinkedInLaura Vanderkam on Amazon UK and Amazon USGrowCFO Future CFO programme
Timestamps
00:43 Why is Laura Vanderkam Kevin's heroine?
01:35 Laura explains 168 Hours
03:40 How do you make time?
5:22 Doing a time audit
7:55 168 hours is a recommendation in Module 3 of the Future CFO Programme
09:15 The importance of a morning routine
12:31 Tranquility by Tuesday
14:10 The 9 different strategies or rules
15:20 Rule 1 - Give yourself a bedtime
15:50 Rule 2 - Plan on Fridays
18:44 Rule 3 - Move by 3pm
20:35 Rule 4 - Three times a week habit
23:00 Rule 5 - Create a backup slot
24:55 Rule 6 - One big adventure, one little adventure
27:27 Rule 7 - Take one night for you
29:37 Rule 8 - Batch the little things
31:20 Rule 9 - Effort full before effort less
Do you want to be a great finance business partner? If so, you're in luck! In this episode, Oliver Deacon joins Kevin Appleby and gives us some great tips that will help improve your relationship with your colleagues in the rest of the business. Oliver Deacon is a member of the GrowCFO Mentoring team. He runs the GrowCFO Business Partnering Boot Camps and is a former FD at Microsoft.One of the most important things to remember when trying to become a great finance business partner is that communication is key. You need to be able to effectively communicate with your colleagues in order to build strong relationships. Make sure you are always clear and concise when conveying information, and take the time to listen to what others have to say. It is also important to be responsive to questions and concerns that your colleagues may have.It is also essential that you are able to build trust with your colleagues. This can be done by being honest and transparent in your dealings with them. Make sure you keep your promises and always follow through on what you say you will do. If there are ever any issues, make sure you deal with them in a timely and professional manner.Remember that it is important to show your colleagues that you are invested in the success of the organisation. This can be done by offering help and support when needed and being proactive in finding solutions to problems. Your job is to sell ideas and provide options. If you can do these things, you will be well on your way to becoming a great finance business partner.
Building a strong relationship between finance and the rest of the business is essential for the success of your organisation. Listen in for some great information on how to make things work well between you and your fellow business managers!
Links
Oliver Deacon on LinkedInKevin Appleby on LinkedInGrowCFO Business Partnering for Finance Teams Boot Camps
Timestamps
00:43 What is a finance business partner?
02:11 About Oliver Deacon
03:26 How to become a great business partner? Where do you start?
03:59 Relationships and selling ideas
05:38 How do you start forming great relationships?
06:15 Asking questions, showing people you are interested in them
09:43 Can you figure out what your business partners' biggest problems are?
10:39 Stop; Start; Continue
12:16 Turning data into insights
15:40 What are we going to do differently as a business?
16:38 Finance business partnering boot camp
18:48 How is the boot camp structured?
21:17 What's covered in each workshop?
23:32 How do you attend a bootcamp?
24:41 What surprises people most on the boot camp?
100 Episodes of the GrowCFO Show, that's 2 years' worth of podcast episodes. Dan Wells, founder and CEO of GrowCFO joins regular podcast host Kevin Appleby to celebrate the milestone, reflect back on the last two years and talk about some new exciting developments in GrowCFO.
Dan and Kevin both choose their favourite episodes of the GrowCFO Show. Dan decided on episode 95 where Catherine Clark, head of mentoring at GrowCFO, talked about making the best decision for both you and your business. Kevin selected episode 102, yes an episode that is yet to be published, where he managed to get a guest from his own bucket list on the show. We'll leave you to wait another two weeks to find out who it is. The clue is Kevin talks about her book every time he delivers module 3 of the Future CFO Programme.
Three significant milestones arrive all at the same time. As well as the 100th episode of the GrowCFO Show we've published two great new resources. The first is a 100-page book that describes the CFO Competency Framework. The second is a white paper examining the career paths of 500 CFOs and exploring the many different career routes available to get to the top job in finance. Both have just been made available to download on the GrowCFO website
Links
Dan Wells on LinkedInKevin Appleby on LinkedInBecome a free member of GrowCFODan's Favourite episode (episode 95)CFO Competency FrameworkNew free resources: The GrowCFO CFO Competency Framework eBook and Career Routes to CFO reportFuture CFO programme
Timestamps
01:40 Two years ago, what was the original vision for GrowCFO?
03:17 How did Dan and Kevin end up working together?
06:02 Working with interesting people who simply want to give something back
07:23 Our favourite episodes of the GrowCFO Show
11:38 Whats GrowCFO all about?
16:19 plans for the next 2 years
17:19 The CFO Competency Framework
21:57 New research: What’s the optimum size for your finance function
24:56 Virtual Boardroom and Fundraising Simulator
25:34 Boot Camps for both Strategy and Finance Business Partnering
Alex Budak joins the GrowCFO show on the same day that his new book "Becoming a Changemaker" is published. Quite a coup for the podcast! The book is an excellent read for anyone wanting to become a changemaker, in particular for finance leaders wanting to enhance their ability to be a catalyst for change.
As a faculty member at UC Berkeley’s Haas School of Business, Alex created and teaches the wildly popular course “Becoming a Changemaker,” which has quickly grown into one of the most highly-rated courses anywhere on campus. The course is regularly heralded by students as “transformative” and “life-changing” but has only been accessible to students attending UC Berkeley. That all changes from today as the course is condensed into a book accessible by anyone.
The Becoming a Changemaker playbook is a guide for anyone looking to lead positive change. It covers the mindsets and leadership skills needed to navigate, shape, and lead change, as well as how to thrive in uncertain times. The book is tailored to millennials and Gen Zers who are leaving school and entering the workforce. It is based on the popular UC Berkeley course by the same name, which students have praised as transformative and life-changing.
Links
Alex Budak on LinkedInKevin Appleby on LinkedInGrowCFO Competency FrameworkBecoming a Changemaker on Amazon UK and Amazon USA
Timestamps
00:51 Alex explains his background
02:26 Book being published on 13 September 2022
04:05 Change and the CFO
06:17 Technology and change
10:02 Can the changemaker skill be learned?
10:36 The Changemaker index
12:33 Dealing with resistance to change
15:06 Involving people in the change
18:28 Champions, fence-sitters and cynics
23:03 Impact = (mindset+leadership) x action
25:24 Who is the book aimed at?
28:06 How did you get involved in teaching "Changemaker"?
Jeremy Foster is an unusual CFO, he isn't an accountant and doesn't have a finance background. His origins are in sales and marketing. He changed course following an MBA at Notre Dame and has subsequently become a highly successful finance leader with strong strategic capabilities and significant M&A experience. Jeremy has been instrumental in multiple equity rounds, debt recaps, and a 9-digit platform sale to PE.
Jeremy's main interest is working with an organisation that wants to drive massive growth. He will typically be brought on board by a CEO who wants a co-pilot to go on that journey. In this episode, we talk about how Jeremy is currently doing that at Talroo and how that differs from his approach at previous companies Homeward and Kasasa. He explains how he operates as a strategic partner to the CEO and gives us some great insights to the thought process a CFO needs in helping build and drive strategy.
We explore some of the key KPIs you need to understand when investing in customer acquisition, and we talk about the theory of constraints. Jeremy shows how the skills he learned as a marketing director are extremely valuable to a CFO too.
Links
Jeremy Foster on LinkedInKevin Appleby on LinkedInTalroo.comGrowCFO Strategy Programme
Timestamps
00:53 A background in marketing for a bank
01:29 Did you miss out by not having an accounting background?
02:13 What role do you play as a non-accounting CFO?
04:01 Blitz scaling
05:26 The three big KPIs you need to know
07:53 Profit per customer
10:25 Jeremy Foster's experience growing the business at Kasasa
12:39 What issues do such rapid growth bring?
15:53 Thinking about communication channels
18:38 The theory of constraints
19:50 The importance of good relationships
21:50 The role of a finance business partner
23:03 What advice would you give to a CFO coming through a more traditional route than yourself?
24:55 What's the role of the CFO in driving a high-growth business strategy?
Danielle Keeven has had quite a journey to get to her current role as VP of Finance at paddle.com. She has crossed the globe and changed industry sectors. She has gone from roles in large multinationals to working in high-growth startups. Danielle shares her experiences with Kevin Appleby on this week's GrowCFO Show.
Originally working in the Caribbean for large US multinationals such as Marriott and Hyatt, Danielle swapped to working in Europe for booking.com, then moved out of hospitality completely to work in fintech. This was a huge change and she tells us all about the challenges she faced in the episode.
Danielle Keeven is currently VP of finance at paddle.com. Paddle offers SaaS companies a completely different way to sell. Instead of assembling and maintaining a complex stack of payments-related apps and services, Paddle provides an all-in-one solution. Danielle explains how her finance expertise is applied to the design of the product as well as to running the finance team. We discuss in detail the problems that products like Paddle solve for SaaS founders, and some of the mistakes Danielle has seen these companies make.
Links
Danielle Keeven on LinkedInKevin Appleby on LinkedInPaddle.comGrowCFO Future CFO ProgrammeGrowCFO Strategy ProgrammeCFO Competency FrameworkFree Course: First 100 Days in your new finance role
Timestamps
01:00 Born in the Netherlands, growing up in the Caribbean
01:42 The accidental accountant
02:59 Hospitality: Hyatt and Marriott
03:45 Move to Europe and the tech side of Hospitality
05:00 Accounts receivable in a SaaS business
06:41 moving from Booking.com to Messagebird
09:23 Why did you join paddle.com?
11:47 What does Paddle do?
13:18 The complexities of online business and global tax rules
16:13 Will you move on from VP Finance to a full CFO role?
17:19 Roald Dahl's Matilda
19:13 What sort of mistakes do you see fast-growing SaaS companies making?
22:06 Building a strategy for internationalisation
23:15 Giving SaaS businesses the right data insights
25:26 What advice would you give other finance people looking to move to CFO roles
26:41 GrowCFO Competency framework
27:15 The art of delegation
30:33 The finance leader and fraud
The role of a finance transformation leader is a complex one. It requires someone with great technical skills, as well as strong people skills. A successful finance transformation leader must be able to manage and motivate their team, while also being able to communicate effectively with other members of the organization. Toni Betts, group finance director at The Travel Chapter is one of those successful transformation leaders and she shares her journey with Kevin Appleby on this episode of The GrowCFO Show.
One of the most important qualities of a successful finance transformation leader is the ability to manage and motivate their team. A finance transformation is a complex undertaking that requires the efforts of many individuals. A great leader will be able to keep their team on track and focused on the goal. They will also be able to motivate their team when things get tough.
In addition to being a great manager, a finance transformation leader must also be an effective communicator. This is important because they will need to communicate with other members of the organization, such as the CEO and CFO. They will also need to communicate with vendors and other outside parties. Effective communication is essential for ensuring that everyone is on the same page and that the transformation goes smoothly.
Great people skills are essential for anyone looking to lead a finance transformation. A successful leader will be able to manage and motivate their team, while also being an effective communicator. If you have these qualities, then you may be well suited for this important role.
Links
Toni Betts on LinkedInKevin Appleby on LinkedInGrowCFO Future CFO ProgrammeFree Course: First 100 Days in your new finance roleSusan Jeffers - Feel The Fear And Do It Anyway: How to Turn Your Fear and Indecision into Confidence and Action on Amazon UK and Amazon US
Timestamps
01:39 Toni's new group FD role
02:04 When did you decide to become an accountant?
04:50 Qualifying in an audit practice
06:52 Toni's first role outside practice and moving on to join American Express
08:10 Being part of a great leadership programme
09:46 Stepping out of your comfort zone: You need to get comfortable with leadership skills and push yourself to use them
11:32 Susan Jeffers - Feel The Fear And Do It Anyway
12:03 Moving on from American Express
15:09 Becoming a finance transformation expert
16:43 Learning from experience
20:24 Some of the practical challenges of transforming finance teams
24:14 Technology is forcing finance to change
25:03 What advice would you give other finance leaders?
27:42 Personal Awareness and feedback from others
29:01 The importance of how you present over what you are presenting
30:45 What does Toni Betts do to avoid stress and burnout?
32:37 What's the biggest challenge in your new group FD role?
Are you in control of your own life, or are the demands of all the other things around you taking over? Too much pressure at work to have a personal life? Perhaps you aren't feeling fulfilled? If any of that describes you then it's time to take control back and make decisions that benefit you and not just your organisation. In this episode, Catherine Clark joins us to talk about the importance of making the right decisions for your own wellbeing. She draws on both her own personal experience as a CFO and the situations she comes across every week when she is mentoring other finance leaders.
If you aren't happy with where you are right now it's time to do something about it and take action. Catherine has some great advice to offer about how to find out what you really want and then take the right steps to get there. We talk about the importance of having the right mindset, and the importance of stepping forward even when there might be fear and uncertainty.
This is the third episode in a mini-series looking at your well-being. In the previous two episodes, we've looked at resilience with Leanne Spencer and self-awareness with Susana Serrano-Davey.
Links
Mentoring at GrowCFO with Catherine ClarkSusana Serrano-Davey on LinkedInKevin Appleby on LinkedInSusan Jeffers - Feel The Fear And Do It Anyway: How to Turn Your Fear and Indecision into Confidence and Action on Amazon UK and Amazon US
Timestamps
01:50 Are you feeling dissatisfied?
03:14 Getting in touch with your feelings
04:00 Go with your gut and your subconscious mind
06:03 Having the right people around you to support you
08:40 Some examples of situations people find themselves in
10:17 The decision isn't about moving on and changing job
12:01 The mindset shift that's needed
14:52 The fear of change, doing things differently, making a mistake
15:50 What do you need to stop doing? start doing? continue doing?
16:15 What do you want?
17:16 Overwhelm
18:12 Feel the fear and do it anyway
20:33 Where do you want to be in 3 years' time?
23:15 Do you stay? Do you move on?
24:50 You can't lose, just make a decision!
27:06 What do you do after you make a decision?
29:32 Some practical exercises you can do right now
Self-awareness is key for well-being. When you know yourself well, you can make better decisions and thrive in all areas of your life - including your career. As a finance leader, it's important to be self-aware so that you can set realistic goals and healthily manage stress. In this episode, Susana Serrano-Davey, our very own Executive Coach & Mentor at GrowCFO joins Kevin Appleby once again to discuss the importance of self-awareness as a cornerstone for wellbeing. We discuss the importance of self-awareness and how it can help you achieve success both professionally and personally. Susana gives some great advice on some practical things you can do to be more self-aware
Self-awareness is the ability to see yourself clearly and understand your thoughts, feelings, and behaviours. It's an important part of well-being because it allows you to make healthy choices, set realistic goals, and healthily manage stress. When you're self-aware, you're more likely to achieve your goals and be successful in all areas of your life.
There are many benefits of self-awareness, but here are a few key ones:
When you're self-aware, you can make better decisions. You know your strengths and weaknesses, so you can make choices that are in line with your values and goals.When you're self-aware, you're more resilient. You know your triggers and how to manage them, so you're less likely to be derailed by setbacks.When you're self-aware, you have a better understanding of other people. You can see things from their perspective and build relationships that are based on trust and mutual respect.
Self-awareness is an important part of well-being, and it's something that you can work on every day. Susana gives us some practical strategies:
Get feedback, how do people perceive you?Understand your feelings, and why you feel a certain wayLearn more about your personalityMake sure you meet your own needs before others
Listen to the full episode to find out more.
Links
Mentoring at GrowCFO with Susana Serrano-DaveySusana Serrano-Davey on LinkedInKevin Appleby on LinkedInEpisode 93 with Leanne Spencer on Well-beingEpisode 74 Personality types with Merrick RosenbergEpisode 71 Strengthsfinder with Jim Brophy168 Hours by Laura Vanderkam on Amazon UK and Amazon US
Timestamps
00:41 The previous episode with Leanne Spencer about well-being and beating burnout
01:15 No point in achieving your goals and being unhappy
03:37 You really need to know more about yourself
05:22 How others perceive us
10:03 Getting feedback from others
13:45 Becoming aware of your personality type
16:47 Using personality profiling tests (we referenced DISC and Strengthsfinder tests covered in previous episodes with Merrick Rosenberg and Jim Brophy)
19:16 Connect with your feelings
21:43 The link between a crisis and becoming depressed
23:04 Neuro-linguistic programming (NLP)
24:34 Understand your needs
28:04 Dealing with recurring issues and problems
30:33 Making time and space for yourself
34:01 Susana's book
CFOs and finance leaders are under more pressure than ever before. They are responsible for ensuring the financial stability of their company, and often have to make tough decisions that can impact the bottom line. This high level of responsibility can take a toll, and many CFOs and finance leaders find themselves struggling with burnout. In this episode, Leanne Spencer, an award-winning entrepreneur and a key-note wellbeing speaker and burnout prevention expert joins Kevin Appleby to discuss how to better manage stress, prioritize recovery and ultimately reduce the risk of burnout.
Burnout can have a significant impact on CFOs and finance leaders. When individuals are burned out, they may feel exhausted, both physically and emotionally. They may also feel cynical or negative about their work and may have difficulty concentrating or making decisions. Burnout can lead to absenteeism, staff turnover, and a decrease in productivity. It can also adversely affect an individual's health. But what action can you take to protect yourself? Leanne has plenty of answers!
You need to increase your resilience. But what does that actually mean in practice? Lots of people talk about being more resilient, but few people have their own practical strategies to make it happen. Leanne talks about giving yourself slivers of recovery. Time for yourself every single day. A small part of your overall bandwidth. These slivers can have a very significant impact on your overall wellbeing
Links
Leanne Spencer on LinkedInKevin Appleby on LinkedInCadence: the secret to beating burnout and performing in life and work on Amazon UK and Amazon USRise and Shine: Recover from burnout and get back to your best on Amazon UK and Amazon USMentoring at GrowCFO
Timestamps
00:39 About Leanne Spencer and Bear Grylls
01:24 Remember what is first for you
02:34 How does this apply to finance leaders?
05:20 Slivers of recovery
07:20 Learning from elite athletes
10:28 How do you recover when there's always something else to do?
11:30 The golden hour before sleep
16:30 Turn off notifications
18:41 Simple things done every day
23:00 Decompress at the end of the day
24:17 Alchohol, good or bad?
25:26 Cadence, the overall message in the book
27:44 A business book needs to be short and easily digestible
29:24 Cadence: the secret to beating burnout and performing in life and work
As a CFO in a fast-growing business, you have a lot on your plate. You are responsible for ensuring that the company is making money and growing at a healthy rate. But what if you could take your career to the next level by having a mentor? A mentor can help you learn new skills, make important connections, and give you guidance when it comes to difficult decisions. Ian Simpkin specialises in mentoring CFOs who find themselves in that exact situation.
Ian Simpkin is one of GrowCFO's experienced CFO mentors. In this episode, he joins Kevin Appleby to discuss how he mentors CFOs in fast-growing businesses. We talk about his career and experiences and how this impacts his approach to mentoring.
Ian, a Chartered Accountant (FCA), qualified with KPMG and trained at Insead in their International Executive Program. He has over 25 years of finance director experience and was European CFO of a Nasdaq 100 multinational during rapid growth from $20 to $450m.
Ian has a great practical understanding of driving business growth, fundraising, acquisitions and exit planning. Besides mentoring new CFOs, he advises SMEs on financial strategies to help grow their businesses. He is passionate about helping his mentees develop their skills and expertise to realise their potential and provide Board level strategic advice.
Links
Mentoring at GrowCFO Meet the GrowCFO mentorsThe CFO Competency frameworkIan Simpkin on LinkedInKevin Appleby on LinkedIn
Timestamps
00:57 Introducing Ian Simpkin
02:00 Growing a company from $20m to $400m
03:11 Making acquisitions to grow
04:20 What challenges do you deal with day to day as a mentor and portfolio CFO?
05:28 How do you approach mentoring?
06:52 What are the biggest issues you find with CFOs in their first role?
07:57 The CFO competency framework
10:00 The CFO as a strategic business partner
11:48 Ian Simpkin outside the office
13:16 Why choose Ian as a mentor?
One of the biggest challenges of financial modelling is creating models that are accurate and realistic. Financial modellers need to have a good understanding of all of the different formulas and functions in order to create an accurate model. Many people, even experienced modellers, use less than 5% of the functions available. Excel models need to be properly structured too so that others can easily validate them, and they can be checked for errors. There are lots to learn about, and many tips and tricks that can make your life much easier. That's why Myles Arnott and Giles Male set up Full Stack Modeller.
In this episode, Kevin Appleby chats to Miles and Giles to discover more about the challenges of building great financial models in Excel and how the Full Stack Modeller training and community of members can help you.
We teach financial modelling basics in GrowCFO's finance team training, but if you want to develop really deep specialist modelling skills Full Stack is the place to go. If you want to join Full Stack Modeller's next cohort this coupon code will give you 15% off: GROWCFO15AUG. Registration opens on 8th August.
Full Stack Modeller will give you:
Excel Mastery. From core function knowledge and confident use of Excel Tables and Pivot Tables, to a truly unique way to develop your shortcut and navigation skill mastery. the major modelling standards, setting you up for more advanced modelling exercises to come further on in your journey.Advanced Financial Modelling. Covering the fundamentals of three statement modelling, valuations, scenarios & sensitivities, and more. Data Visualisation & Analytics. How to use Power BI to analyse data, and we help you understand how best to share your insights with others. These are skills that are rare to find, even amongst very talented and experienced modellers.
Listen to the full episode to find out more.
Links
Giles Male on LinkedInMyles Arnott on LinkedInKevin Appleby on LinkedInGrowCFO for Finance TeamsFind out more about Full Stack Modeller (use coupon code GROWCFO15AUG to get 15% off at checkout)
Timestamps
01:04 About Full Stack Modeller
03:37 What are financial models used for?
04:50 Don't most people teach themselves how to use Excel?
07:30 Power Query
09:48 What about apps that replace Excel?
11:40 What bad habits do self-taught experienced modellers generally have?
13:12 The problem of too much data
15:05 Data visualisation
18:55 How do you teach modelling when there are so many different applications of models?
20:40 Trapping errors in models
26:34 What are the 5 or 6 key things we really need to know?
29:11 The danger of a single Excel guru in a company
It's no secret that boardroom experience is important for aspiring CFOs. But what happens when you don't have access to boardrooms? How can you overcome this obstacle and get the experience you need? In this episode Dan Wells, founder and CEO of GrowCFO, joins Kevin Appleby to discuss the launch of GrowCFO's Virtual Boardroom.
Over 80% of aspiring and first-time finance leaders have little or no boardroom experience. Very few have conquered the most common challenges regularly faced by CFOs during board meetings. This lack of exposure can easily prevent you from landing your dream CFO role, or negatively affect your performance during difficult boardroom situations within your existing finance role. GrowCFO’s Virtual Boardroom provides you with essential first-hand experience of dealing with real-life boardroom challenges that most CFOs encounter early on in their finance leader career.
If you're serious about becoming a CFO, don't let a lack of boardroom experience hold you back. There are plenty of ways to gain the experience you need, even if you don't have direct access to boardrooms. The GrowCFO Virtual Boardroom can help you get the confidence you need in the boardroom. In addition you should seek out opportunities to present to boards. Get involved with organizations that focus on board governance, and network with experienced board members. With some effort and perseverance, you can overcome this obstacle and take your career to the next level.
Links
Dan Wells on LinkedInKevin Appleby on LinkedInGrowCFO Virtual BoardroomFind out more about becoming a CFO
Timestamps
00:52 What is the Virtual Boardroom?
03:20 The CFO wears 2 hats in the boardroom
04:49 How does the Virtual Boardroom work?
06:08 Does it involve a lot of prep like a real board meeting?
08:52 Dealing with the different perspectives of individual board members
11:56 What time commitment do you need in order to participate?
14:04 The Virtual Boardroom is supported by online learning
16:16 The role of professional mentors in the Virtual Boardroom
17:39 How to find out more
As finance leaders, we are always looking for ways to help our businesses grow. But in order to grow, we need to have a clear strategy in place. Without a strategy, it's difficult to set goals and measure progress. And without communication, it's impossible to get everyone on the same page. That's where strategy software comes in. Strategy software helps you document your strategy and communicate it effectively to everyone involved. In this episode Tom Ricca-McCarthy, Co-Founder at Lucidity joins Kevin Appleby. We talk about how to build an effective strategy and how the Lucidity software app can support you in documenting and communicating the strategy.
There are many benefits of using strategy software. Perhaps the most important benefit is that it helps you document your strategy. This is crucial because a documented strategy gives you a roadmap to follow as you execute your growth plans. It also allows you to track your progress and make changes as needed.
Another important benefit of strategy software is that it helps you communicate your strategy effectively. This is essential because, without communication, it's impossible to get everyone on the same page. Strategy software makes it easy to share your strategy with your team or stakeholders and get their feedback. This way, you can ensure that everyone is on board with your growth plans.
Tom relates the story of needing to present the strategy for his own business and everything he needed was scattered across a whole collection of slide decks, spreadsheets and word documents. Lucidity was born out of the need to have a single place to document and then communicate everything to do with the strategic plan.
GrowCFO is running quarterly strategy bootcamps. In a series of workshops over the course of a week we help you get to grips with building a strategy for your business and documenting it using Lucidity. There's a link below if you want to find out more.
Links
Tom Ricca-McCarthy on LinkedInKevin Appleby on LinkedInFind out more about Lucidity strategy softwareThe GrowCFO Strategy ProgrammeJoin a GrowCFO Strategy Bootcamp
Timestamps
01:23 About Tom Ricca-McCarthy
02:50 Putting a turnaround strategy in place in one of his former companies
04:12 The idea for Lucidity
05:44 Strategy is a broad activity using lots of different tools
08:30 Why you need everything in one place
10:18 SWOT, PESTLE, 5 Forces scattered across multiple documents
14:07 Its not just the analysis, it's about executing the plan too
14:31 Tracking the KPIs and milestones
16:30 Scenario planning
17:45 GrowCFO strategy bootcamp
23:17 The CFO strategy survey
25:30 The communication challenge
28:23 Stop Start Continue
30:06 A single source of the truth
34:21 What's next for Tom and Lucidity?
38:30 A balanced set of objectives and OKRs
44:48 The strategy execution gap
In order to achieve success, you must remove any interference that stands in the way of your potential. This is the principle of performance = potential - interference, or P=P+I for short. This equation is a simple but powerful way to think about success and how to achieve it. In this episode, Kevin Appleby is joined by Julian O'Neill and we look at how Julian uses P=P+I every day to get the best out of his finance team and others that work with him. We discuss the factors that contribute to interference and how you can eliminate them to reach your full potential.
Interference can come from many sources. It can be external, such as the people and environment around you, or it can be internal, such as your own thoughts and emotions. Both types of interference can prevent you from reaching your potential and achieving success.
External interference is often beyond your control. You may not be able to change the people or circumstances around you, but you can control how you react to them. Internal interference is entirely within your control. Your thoughts and emotions are yours to choose from, so make sure they are positive and supportive of your goals.
Whenever you find yourself facing interference, remember the P=P+I equation. Performance = Potential - Interference. Eliminate the interference and reach your full potential. You are capable of great things. Go out and achieve them.
Julian O'Neill is CFO of Ardent Hire Solutions and previously appeared on episode 81 of The GrowCFO Show where he described his career path to his current CFO role.
Links
Julian O’Neill on LinkedInKevin Appleby on LinkedInEpisode 81 My journey to CFO with Julian O'Neill168 Hours: You Have More Time Than You Think by Laura Vanderkam on Amazon UK and Amazon USA
Timestamps
01:02 What is P=P+I
04:35 Examples of things that cause interference
08:45 Start Stop Continue
10:10 The importance of "Stop" and making space for new things
11:12 168 Hours by Laura Vanderkam - Do an audit of how you use your time
11:40 Getting rid of unnecessary tasks and meetings
16:00 Long hours at work are counterproductive
19:11 The need to be flexible with time
22:12 Finding space to think
26:00 What defines potential?
28:41 Most people dont show up to do a poor job
30:30 Sensing when somebody isn't quite right
32:28 The complication of working remotely
Do you have a strategy? If so, congratulations – you're ahead of the curve. Many businesses don't take the time to develop a strategy, and as a result, they struggle to achieve their goals. But having a strategy is only half the battle; the other half is making sure that your strategy is executed properly. In this blog post, we'll talk about how to close the strategy execution gap and turn your plans into results!
Benjamin Wann is an expert at closing the strategy execution gap. He is a CPA and has written several books, including Getting Shit Done: The No-Nonsense Framework for Closing the Strategy Execution Gap which is the subject of this episode of The GrowCFO Show.
The strategy execution gap is the difference between where a company wants to be and where it actually is. This gap can be caused by a number of factors, including unclear goals, inadequate resources, and poor communication. But regardless of the cause, the result is always the same: Your company isn't achieving its full potential.
So how can you close the strategy execution gap?
Here are a few tips:
Define your goals clearly. If your employees don't know what they're supposed to be working towards, they can't possibly achieve it. Make sure your goals are specific, measurable, attainable, relevant, and time-bound (SMART).Allocate the necessary resources. Your strategy won't get very far if you don't have the people, money, and time to make it happen.Communicate, communicate, communicate. Make sure everyone involved in your strategy knows what their role is and what they're supposed to be doing. regular check-ins will help keep everyone on track.Be flexible. Things will inevitably change as you're trying to execute your strategy. Be prepared to make adjustments along the way.
Closing the strategy execution gap can be a challenge, but it's worth it. By taking the time to implement a solid strategy, you'll ensure that your business is able to achieve its full potential. Listen to the full episode. We dive deep into these points and many more.
Links
How GrowCFO can help you build and execute your strategyGetting Shit Done: The No-Nonsense Framework for Closing the Strategy Execution Gap on Amazon UK and Amazon USBenjamin Wann's other books on Amazon UK and Amazon US168 Hours: You Have More Time Than You Think by Laura Vanderkam on Amazon UK and Amazon USABenjamin Wann on LinkedInKevin Appleby on LinkedIn
Timestamps
01:02 Introducing Benjamin Wann
02:46 Everything in life is a project!
03:15 Ben's books
06:22 Getting Shit Done
08:15 You have designed the strategy. What comes next?
08:42 Many organisations don't actually have a strategy
10:57 In its most basic form, what is a business strategy?
12:09 The strategy execution gap
13:57 Who does what and by when?
16:39 Time is limited. How do you prioritise?
17:16 168 Hours by Laura Vanderkam
19:47 Mindset for achieving the milestones you need to reach
23:10 Napoleon's army and empowerment
23:47 Strategy lessons from the US Civil War
24:54 The need for flexibility in the plan
26:48 What gets measured gets done
28:00 Rats in Hanoi: Why linking measurement to reward can be very dangerous
31:44 It's all about communicating effectively
35:00 Use e-mail properly
36:19 Create the right culture
40:00 The role of the CFO in strategy execution
Strategy is the backbone of any successful business. Without a strategy in place, it can be difficult to make decisions and achieve your goals. Many CEOs try to implement the strategy on their own, but this can be difficult if you don't have the right tools and resources. In this episode, we will discuss how to embed strategy in your business and make sure that it is a part of everything that you do!
The strategy should be embedded in every facet of your business, from the way you set goals to the way you communicate with customers. By embedding strategy into your business, you will be able to make better decisions, achieve your goals, and improve your overall performance. There are a few key steps that you can take to embed strategy in your business:
Define what strategy means for your business
Without a clear understanding of what strategy is, it can be difficult to implement it effectively. Take some time to sit down and define what strategy means for your company. What are your goals? What are the most important things that you want to achieve? Once you have a good understanding of what strategy is and what it means for your business, you will be able to start embedding it into your operations.
Make strategy a part of your decision-making process
One of the most important ways to embed strategy in your business is to make it a part of your decision-making process. Whenever you are faced with a decision, big or small, take some time to think about how it will impact your strategy. What are the risks and opportunities associated with this decision? By taking the time to consider these things, you will be able to make better decisions that align with your strategy.
Communicate your strategy to everyone in your company
It is important that everyone in your company is aware of your strategy and knows how it affects their day-to-day work. Hold strategy meetings, send out regular emails or memos, and post your strategy on your company's intranet. The more people that are aware of your strategy, the more likely they are to help you achieve it.
These are just a few of the ways that you can embed strategy in your business. We talk about much more in the episode, so listen in and find out more.
Susana Serrano-Davey is an experienced CFO and a member of the GrowCFO professional mentoring team. If you are interested in having Susana as a mentor then please get in touch using the link below.
Kevin Appleby is GrowCFO's business strategy mentor and runs the GrowCFO Strategy Programme.
Links
How GrowCFO can help you build and execute your strategyMentoring at GrowCFO with Susana Serrano-DaveySusana Serrano-Davey on LinkedInKevin Appleby on LinkedIn
Timestamps
01:30 What is strategy?
03:55 How do you go about building and deploying a strategy?
04:01 Three typical scenarios
05:28 What about the business that's in trouble and needs a turnaround strategy?
08:04 What does the CFO need from the strategy?
08:59 The objectives are clear, but how do we achieve them?
09:50 The power of a simple SWOT analysis
12:32 Achieving a balance between growing revenue and cutting cost
13:42 The role of the Zero-Based Budget
17:24 The need to be constantly aware of new challenges and adapt the strategy
19:34 The danger of not implementing change in the good times
21:53 The difficulty of restructuring when the business is losing money
24:34 Strategy and the high growth business
26:38 The CFO as the challenger of strategy
28:07 Measuring the right things and understanding cause and effect
30:02 What are the 3 or 4 most useful tools to use?
Jimmy Vassilas started his career in Montreal, Canada. He qualified as a Canadian Chartered Accountant with Deloitte majoring in high tech and telecoms. High tech has remained the focus of his career ever since. Jimmy's CFO roles include Receipt Bank; Zappi; and most recently SantéVet.
Jimmy joined Autodesk and then moved to Europe temporarily to cover maternity leave. The person on maternity leave never returned to work and Jimmy never returned to Canada. In the episode, we reflect on how unexpected things like this often have the biggest impact on your career path.
His journey takes him from external audit to internal audit. Subsequent job changes take him into FP&A and several senior management roles. Jimmy achieved many of these by moving horizontally rather than vertically within Autodesk, eventually becoming Autodesk's finance director.
Links
Jimmy Vassilas on LinkedInKevin Appleby on LinkedInGrowCFO CFO Competency FrameworkFind out more about becoming a CFO
Timestamps
01:21 Jimmy's early career in audit
05:35 Internal audit to FP&A and 17 years in Autodesk
07:35 Are horizontal moves worth taking?
08:49 The 9 competencies of a CFO
09:29 The number one complaint CEOs have about CFOs
11:26 Is 17 years too long in a single organisation?
14:00 So why leave after 17 years?
16:07 Becoming CFO in an organisation funded by venture capital.
19:04 SantéVet and a move to France
20:46 The challenges of being CFO in a high growth tech company
21:49 The importance of shared values within the business
23:11 The importance of being a business partner
25:00 What's the best advice you would give somebody at the start of their journey?
29:00 The importance of networking and maintaining connections
Richard Haywood left school at 18 and started work as a trainee accountant in a manufacturing business. He studied for the ACCA qualification on day-release. His route to qualification took 5 years and he moved to become a financial controller in the record industry at a time of huge change from vinyl to CD. His challenge, keep his manufacturing unit viable and one of the last vinyl production facilities operating.
Polydor Records gave way to the Mecca Organisation. Richard became responsible for the finances of nightclubs; bingo halls and restaurants. It introduced him to the world of mergers and acquisitions.
A move to CFO soon followed. Richard took a job in the Bahamas at a leisure park and Zoo. Not many people can say they have been CFO of a Zoo. Richard Haywood can! Back in London, Richard continued his career as a divisional CFO in several business units in BT Global Services before moving on to become CFO in a much smaller communications company.
In the episode, we talk about the skills you need to deal with people. Those people range from trade unions to investors and board members. We talk about managing change and the advice Richard would give to a mentee or to a younger version of himself.
Links
Richard Haywood on LinkedInKevin Appleby on LinkedInFind out more about becoming a CFO
Timestamps
00:57 Starting accountancy training at 18, straight from school
01:57 The first job change
05:18 Changing the business model to survive; learning to manage conflict and deal with trade unions
08:42 Richard's goal to become a CFO
10:00 Bingo Halls, Nightclubs and Restaurants; learning about M&A
12:48 How to move from manufacturing to entertainment
14:52 What makes a good CFO?
16:49 The skills needed to deal with investors and board members
20:31 Richard's first CFO role. A Zoo in the Bahamas
27:05 Moving back to a Telco in London
26:17 Cost review of a Zoo
29:36 What advice would you give a mentee about managing change?
34:05 What's in it for me?
37:07 What advice would you give a younger version of yourself?
Many people gain experience by changing jobs and moving between organisations. Tony Fossey took the opposite approach and forged his early career rising through the ranks in a single company. He joined Halliburton, part of civil engineering giant KBR when he left school in 1976 and remained in KBR for the next 29 years. Tony took advantage of the size of the organisation he joined to get a wide range of experience in both finance and commercial roles. He worked internationally in several different roles with increasing seniority.
Tony is highly experienced and has operated at the CFO level for well over 20 years. He shares some great insights into what makes a good CFO and the type of experience a prospective CFO should seek out as their career progresses. Listen to the full episode to find out more
Links
Tony Fossey on LinkedInKevin Appleby on LinkedInFind out more about becoming a CFO
Timestamps
01:08 Leaving school and joining a finance team
03:02 Tony's first commercial role
06:30 FD, CFO, and VP of Finance. Is there a difference?
07:56 The importance of a professional qualification
10:08 Length of time between qualifying and taking on a number one finance role
13:10 What makes a good CFO?
16:48 Working with the board and non-executive directors
19:30 Get away from your desk and out into the organisation
21:33 Developing a reliable number two
22:18 How often should you change jobs?
25:35 Where does Tony Fossey work these days?
28:54 The importance of having fun and enjoying what you do
Manu Gupta has acted as CFO of several high growth businesses including MyDrive Solutions, GridDuck, and Brisk. He shares his unusual journey to his first CFO role and becoming a board advisor. Manu isn’t from a traditional accountancy background. He started his career in sales. A finance-based MBA then took Manu into a career in management consulting. He chose to leave consulting and move to a startup. The startup needed a finance team ahead of a Series A investment. Manu’s job was to create that team.
Manu regards himself as a generalist and really enjoys the variety of challenges the CFO role offers him. We talk about how to become sufficiently rounded to do all the things a generalist CFO needs to do well. We also examine Manu's skills as a management consultant and understand how he applied those to be a dynamic finance leader.
Manu talks about the attitudes and skills a modern CFO needs to bring to the role. He has much to share. Listen to the full episode to find out more, including passions and lessons learned that come straight from the cricket field!
Links
Manu Gupta on LinkedInKevin Appleby on LinkedInFind out more about becoming a CFOThe CFO as co-pilot to the CEO
Timestamps
00:59 How did you become a CFO?
02:35 From sales to finance
03:35 Manu’s mantra: “I find myself in places I’ve not been before”
04:36 Becoming a well-rounded generalist
05:00 An MBA in finance leads to a career in consultancy
06:10 Opportunity to work in a startup and create a finance team ahead of a Series A fundraise
07:16 Advantages & disadvantages of an accountancy qualification and background
09:22 Leveraging skills learned as a consultant
11:06 What attitudes and skills do modern CFOs need?
11:45 Being a business partner and helping others make decisions
13:36 How to engage with others
16:04 Managing your energy
17:13 Managing situations with customers
20:40 Working with the SLT beyond just finance
22:21 Acting as a non-exec alongside being an operational CFO
25:27 Having an impact
25:51 Ben Stokes - lessons from the cricket field
28:45 What are you passionate about?
31:31 The Godfather and the CFO
It's a very small world. As guest Julian O'Neill and host, Kevin Appleby discovered in the first few minutes of the episode. 20 years ago they both worked for PwC Consulting and were on the same client project in the Ministry of Defence. Before that, they were both accountants in manufacturing businesses. But since that brief spell working together their careers have been very different. Julian has operated at the board level for a number of big-name brands before taking up the role of CFO at a high growth start-up.
Julian qualified as an accountant in industry. He then briefly worked as a management consultant. Next, his journey took him to IT Director and a number of CFO roles in divisions of large corporations. Julian joined Arcadia Group and ended up doing a commercial role. He stepped away from big brands and joined a startup as CFO, taking over as CEO when the original founder was forced to step down. After the sale of that business, he took on his current CFO role, preferring that to another challenge as CEO.
Julian O'Neill reflects on his experience, sharing lessons he learned at each stage of his career. He adds that his time outside finance, in commercial roles has been invaluable.
Listen to the full episode and hear Julian's full, and extremely fascinating, story.
Links
Julian O'Neill on LinkedInKevin Appleby on LinkedInFind out more about becoming a CFOThe CFO as co-pilot to the CEO
Timestamps
01:48 Accountancy and finance open a lot of doors
03:40 Early career in telecoms; qualifying as an accountant in Cable & Wireless
06:18 Spicing things up at General Motors
11:30 Doing an MBA at Warwick Business School
12:10 First role outside finance at Siemens
13:25 Joining PwC Consulting
15:42 The decision to leave the big 4
17:00 Pizza Hut
17:30 First director role
18:20 The challenge of being an IT director
26:25 Arcadia, as a divisional CFO
30:50 CFO of an airline
32:20 Moving from a big brand to CFO at a £2m turnover high growth business
34:50 Taking over from the CEO
37:30 Finding a new job while selling the business
38:28 Back to a CFO role in a small business
39:00 Small startup vs big corporate
40:54 The importance of getting experience in commercial roles outside the finance function
Conflict is a natural and unavoidable part of life. It can arise in our personal lives, with friends and family, or in our professional lives, with co-workers. No matter where it happens, it's important to learn how to manage conflict effectively. If not handled properly, conflict can lead to hurt feelings, damaged relationships, and even lawsuits. In this podcast, Susana Serrano-Davey and Kevin Appleby discuss some tips for managing conflict in both your personal and professional life.
One of the most important things to remember when managing conflict is to stay calm. This can be difficult, especially if you feel like you're being attacked or accused of something. It's important to remember that getting defensive will only make the situation worse. Take a deep breath and try to see the situation from the other person's perspective. Only then can you start to find a resolution.
Beyond this though, Susana has four great lessons for us, and she goes through each of these in turn. Listen to the podcast to find out more.
Susana Serrano-Davey is an experienced CFO and a member of the GrowCFO professional mentoring team. If you are interested in having Susana as a mentor then please get in touch using the link below.
Links
Mentoring at GrowCFO with Susana Serrano-DaveySusana Serrano-Davey on LinkedInKevin Appleby on LinkedIn
Timestamps
00:57 What is conflict?
03:15 The danger of unresolved conflict
05:34 Step 1: Take precautions, don’t respond in the heat of the moment
06:50 Write the reply email but delete it before sending
09:02 Don’t feel pressured into an immediate reply
12:16 Step 2: Some basic assumptions - nobody comes to work to intentionally create conflict
14:22 Don't jump to conclusions
14:37 Step 3: Take some time to think
18:09 It’s rarely a case of one person is right and the other is wrong
18:30 Step 4: Listen to the other person
22:30 Choose a relaxing, neutral environment for a conversation
28:30 What do you do about a historic conflict that still gets in the way?
31:00 Make the other person feel it's their solution, not yours
As a finance professional, you are often required to provide financial information to people who are not finance professionals. This can be a challenge. It is important to communicate the information in a way that is easy for non-finance leaders to understand. In this podcast, Asif Ahmed, author of The Finance Playbook for Entrepreneurs joins host Kevin Appleby. We discuss the issues involved in providing financial information to the entrepreneur and the rest of the business leadership team
One of the challenges of providing financial information to non-finance leaders is that they may not have the same level of understanding of finance concepts as you do. This can make it difficult to communicate the information in a way that is easy for them to understand. One way to overcome this challenge is to use simple, clear language when explaining finance concepts.
Another challenge is making sure the rest of the team understands what financial information is important and what isn't. Asif and Kevin spend time talking about cash vs profit, and the need to understand some financial numbers that aren't immediately obvious from the profit and loss account. This includes customer acquisition cost, customer lifetime value, and that often 20% of customers generate 80% of the profit.
Asif Ahmed is the founder and managing director of Acclivity Advisors and co-founder of The Finance Department. He is also group CFO at Labrys Group and an advisory board member at HM Revenue & Customs.
Links
The Finance Playbook for Entrepeneurs on Amazon UK and Amazon USAThe GrowCFO Competency FrameworkAsif Ahmed on LinkedinKevin Appleby on Linkedin
Timestamps
00:43 What does The Finance Department do?
03:27 Communicating financial information to early-stage entrepreneurs
06:23 What information does an early-stage entrepreneur need?
08:47 Information needed for raising funds
10:08 Covid-19: Bootcamp for learning the financial basics
12:15 You can't manage the business using historic data
13:47 Financial vs non-financial data
16:56 Understanding lead generation and the cost of customer acquisition
21:13 Customer lifetime value
24:00 What else do entrepreneurs need to understand?
27:53 Cost of retaining an existing customer vs cost of acquiring a new customer
29:21 Understanding product costs and the tendency to over cost the simple and under cost the complex.
31:40 What's the right time for a startup business to employ its first CFO?
37:05 The importance of instilling the right financial culture and practices
41:06 If 20% of your customers produce 80% of the profit, do you know which customers make up this 20%?
Chris Fry has the best CFO job in the world. He's group CFO at SISTER. SISTER is the organisation behind recent TV blockbusters "The Split"; "This Is Going To Hurt"; and "Chernobyl". So why is the CFO of a TV production company the best job in the world? First of all, it's a very demanding position that comes with a lot of responsibility. But if you're up for the challenge, it can be extremely rewarding. You'll have a hand in the creative process and you'll be able to help shape the future of the company.
Chris has certainly been up for that challenge. He's an accomplished CFO but he also recognises that there's always something new to learn. Chris was one of the founder members of the CFO Programme within GrowCFO, having previously been involved in something similar during his time working in Australia. He talks about the programme in the podcast and why it has been so useful for him. He tells us why he has found the support from Catherine Clark, the programme leader, and from his fellow CFO participants, invaluable.
Links
Find out more about SISTERThe CFO Programme at GrowCFOCFO MentoringChris Fry on LinkedinKevin Appleby on Linkedin
Timestamps
00:42 Who is SISTER?
02:18 What exactly is your role as Group CFO of SISTER?
03:22 What are your biggest challenges?
05:50 What was your career path before SISTER?
08:50 How did you get the experience to break through to the CFO level?
10:10 Using your influence
11:12 Why did you join the CFO programme at GrowCFO?
13:39 The role of mentors in the CFO programme
15:22 Why do you want to extend the CFO programme beyond the initial 6 months?
16:41 Where does Chris Fry aspire to be in 10 years' time?
19:07 The importance of enjoying what you do
20:16 Advice to a new CFO coming to grips with the first CFO role
21:34 Would you advise a CFO to have a mentor?
Who is your boss? Do you have more than one boss? Perhaps you are number 2 to the CFO and you report indirectly to other people too. Maybe you are the CFO and you need to be mindful of the needs of both CEO and investors in the business. Getting the relationship right with all those people is important. Finding the right balance between your needs from the relationship and their needs is key. It's no secret that the relationship between you and your bosses, whoever they might be, can be a tricky one. It's often difficult to find the right balance between being respectful and assertive, humble and ambitious, compliant and determined. When you report to more than one person you get the added complication of competing needs and being pulled in several different directions at the same time.
In this podcast, Susana Serrano-Davey and Kevin Appleby explore some of the challenges that come with trying to maintain a healthy relationship with your boss. We'll offer some tips on how to handle common situations, as well as how to stay sane while working under someone else's control!
Susana breaks the problem down into 4 areas:
Mutual responsibilitiesSeparate the job from the personFinding your VoiceProfessional to professional relationships
We explore each of these in turn and provide some practical examples to illustrate the key points.
Links
The Four Agreements: A Practical Guide to Personal Freedom by Don Miguel Ruizon on Amazon UK and Amazon USAGrowCFO Show episode 74 discussing personality types as birds with Merrick RosenbergGrowCFO for Finance TeamsThe communications module within GrowCFO for Finance TeamsSusana Serrano-Davey on LinkedInKevin Appleby on LinkedIn
Timestamps
01:04 Everyone has a boss unless you are the CEO
03:18 Building or balancing relationships
04:48 Susana's personal experiences
06:08 Introducing the 4 areas for balancing relationships
06:49 Mutual responsibilities
13:37 Separating the job from the person
15:10 The four agreements book
21:55 DISC and the 4 personality types
25:02 GrowCFO for Finance Teams - communications course
25:42 Finding your voice
30:37 Tackling conflict
35:44 Professional to professional relationships
As a finance leader, you are constantly juggling responsibilities between financial and non-financial analysis. On one hand, you need to make sure the company is meeting its financial goals and obligations. On the other hand, you may be called upon to provide insights into non-financial areas such as operations, marketing, or human resources. This can be a daunting task, but with the right tools and strategies in place, you can successfully balance both worlds.
Paul Barnhurst, The FP&A guy specialises in planning and reporting. In this episode of the GrowCFO Show Paul provides Kevin Appleby with a great overview of business planning and analytics; how to integrate financial and non-financial data; and the tools that are available to help you.
Links
GrowCFO for Finance TeamsPaul Barnhurst on LinkedInKevin Appleby on LinkedInSubscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google podcasts and many others.
Timestamps
00:52 Day one of a brand new business
02:10 What exactly is FP&A?
03:26 Which areas will Paul be working in?
04:31 Excel: are spreadsheets the best way of doing things?
05:14 What are the planning tools available?
09:51 Selecting the tool that's right for you
12:59 Should non-financial measurement sit in finance?
15:52 The importance of a single version of the truth
20:16 What does day 100 look like for the FP&A guy?
21:13 What are the biggest things on the horizon for FP&A in general
22:47 The problem of too much data
As a finance leader or CFO, you have a lot of responsibilities on your plate. From ensuring that the company is making money to managing the budget, there are a lot of tasks you must complete on a daily basis. On top of this you will be involved in change projects. Then there is your role as a trusted advisor to the rest of the management team. You need to manage your workload. You need to make sure that the important tasks are given sufficient emphasis while making sure the urgent and routine things don't swallow up your whole agenda.
Managing your workload doesn't have to be difficult. With a little bit of planning and organization, you can stay on top of everything. Helene Brichet Herbinet, part of the GrowCFO mentoring team joins Kevin Appleby on this episode of the GrowCFO show. Together they give some great tips for both increasing your personal efficiency and maximising your personal effectiveness. By following these tips, you can make the workload more manageable and get back on track.
If you're finding that your workload is unmanageable, it may be time to seek out professional help. There are many CFOs who specialize in helping others manage their workloads effectively. By hiring someone to help manage your workload, you can free up your time to focus on more important tasks. If you're not sure where to start, there are plenty of resources available online. With a little bit of research, you can find the help you need to get your workload under control. Within GrowCFO we have a team of professional mentors ready to help. Premium and corporate members have an entire course on personal effectiveness they can access in the GrowCFO training library.
Links
Find a GrowCFO mentorGrowCFO for Finance TeamsHelene Brichet Herbinet on LinkedInSubscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google podcasts and many others.
Timestamps
00:40 Personal effectiveness or personal efficiency?
01:51 How do you manage your workload?
02:43 Being intentional about how you allocate your time
05:46 Keeping your to do list under control
07:20 Separating work life and personal life
11:59 When other people take over your agenda
14:20 Setting expectations
16:51 Reviewing the quality of your own work
20:27 The art of challenging plans budgets and forecasts
23:53 What should you do yourself and what should you delegate
25:53 Developing your finance team
27:19 The RACI model
30:28 Multitasking
33:29 Social networks and the danger of always being switched on
36:08 Managing deadlines
What tips do you have for managing your workload? Why not share the things that work for you in the forum?
It's no secret that communication is hard. We've all been in a situation where we just can't seem to get our point across. And it's even harder when the person on the other end of the conversation has a different personality type than us.
When you're trying to communicate with someone who has a different personality type than you, it can be easy to get wrapped up in your own perspective. It's important to remember that everyone experiences the world differently, and what makes sense to you might not make sense to them. You must try to see things from their point of view and adjust your communication accordingly. But adapting your style isn't easy.
In this podcast, we take a look at the common problems with communicating with different personality types. DISC is a personality assessment tool that can help you understand yourself and others better, and Merrick Rosenberg, CEO of Take Flight Learning, has adapted the DISC model into 4 birds: eagles, parrots, doves, and owls. The behaviour of each bird is easy to grasp and remember. Merrick has found the majority of finance people are owls. The owl needs to adapt to work with the other three birds. He shares some great strategies that will really help you understand how to do this, so make sure to check this episode out!
Links
GrowCFO for Finance Teams The communications module within GrowCFO for Finance Teams"What got you here wont get you there" by Marshall Goldsmith on Amazon UK and Amazon USMerrick Rosenberg on LinkedInKevin Appleby on LinkedIn
Timestamps
00:46 Why use birds instead of the DISC letters?
01:20 The eagle
02:05 The parrot
02:20 The dove
02:35 The owl
02:45 Which style are you?
04:15 Finance are predominantly owls
05:23 Finance working with sales; owls and parrots
06:47 How does an owl get the parrots and eagles to provide the detail that's needed?
08:50 Owls dealing with doves
10:15 The history of DISC
11:25 75% of your organisation has a different style to you, you need to communicate in all 4 styles
13:12 How each style manages change
15:20 Owls need detail so can be perceived as barriers to change until they have the information
15:40 Owls can actually be incredible champions of change
16:50 How do you communicate change?
20:09 Adapting your style as your career progresses
21:17 "What got you here wont get you there" by Marshall Goldsmith
22:43 How easy is it to develop the other 3 styles?
24:15 Bill Gates the owl
26:17 Working with organisations
30:19 Alternatives to DISC
35:31 Relationship building
38:09 What about children? When do the 4 birds start to emerge?
40:23 The danger of imposing your own style on someone else
As the finance lead, you probably present the business profit and loss account at many of the business meetings you attend. You place huge value on the financial results of the business each month or each quarter. But is that correct? Does the P&L account tell you what you need to know? Does it paint an accurate picture of business performance? Sometimes it does, but quite often it doesn't accurately reflect the economics within the business.
The P&L account tells you what you spent money on, your cost centre structure likely tells you who spent it, but neither tell you why you spent it. Is an adverse variance really bad? Is a positive variance good? The answer is not always. Unless you know the why, and also understand the economic engine of the business you don't know.
You probably grappled with the two fundamental accounting concepts of prudence and accruals when you passed your accountancy exams. Accruals are all about matching costs with revenues, while prudence is about taking account of liabilities as soon as they arise. But we are in strange times where we seem to like capitalising our empty office blocks and hardly used company cars while we write off our investment in digital sales-generating assets as soon as we spend the money.
In the podcast, Kevin Appleby and Susana Serrano-Davey discuss these and other issues and conclude you need many more metrics than those in the P&L account and a much deeper understanding of your business through an economic rather than an accounting model.
We didn't mention it in the show, but Doug Hicks has written an excellent book about what's wrong with the P&L account and why you need an economic model of the business. It makes excellent further reading on this topic.
Links
Mentoring at GrowCFO with Susana Serrano-DaveyI May Be Wrong, But I Doubt It: How Accounting Information Undermines Profitability by Doug Hicks on Amazon UK or Amazon USAEvergreen Assets by John Lamerton on Amazon UK or Amazon USA24 assets by Daniel Priestley on Amazon UK or Amazon USAListen to Next 100 Days Podcast with John Lamerton talking about Evergreen AssetsSusana Serrano-Davey on LinkedInKevin Appleby on LinkedIn
Timestamps
00:59 The P&L account is a key tool
01:53 A history lesson; one set of accounts for investors and for the taxman
03:53 Modern systems and the ability to cut the data in different ways
04:28 Accounting standards and the 4 core accounting concepts
06:23 Are your fixed assets really the assets that drive business performance or are they just hidden future costs?
07:40 Evergreen digital assets
10:46 Depreciation
11:38 The pressure to report a better picture in the P&L
15:51 Unrealistic budgets
20:39 No surprises; don't hide the truth
23:30 The P&L account doesn't tell you why you spent the money
26:21 An economic rather than an accounting model of your business
29:41 Assigning costs to activities gives you a better understanding of customer and product costs
31:07 The tendency to over cost the simple and under cost the complex
31:39 An activity-based costing example
Are you ready to be a CFO? To step into your first CFO role. How do you know if you are ready to make the transition to that number one role in finance? That's the question Kevin Appleby posed to Dan Wells on this episode of the GrowCFO Show. Kevin asked Dan if there is any such thing as a CFO readiness indicator or CFO readiness index. Dan doesn't believe there is one single measure of CFO readiness. He goes on to explain the various skills and levels of experience you need to be a successful CFO. These vary according to the type of CFO you want to become and the nature of the organisation you plan to work for.
Are you ready to be a CFO? Some questions to ask yourself
If you feel you are ready to be a CFO then as a minimum you should be saying yes to the following five questions:
Do you have a strategic mind? As a CFO, you will need to think beyond the numbers and see the big picture. You need to be able to develop strategies that will help your company achieve its goals.Are you are a good communicator? As CFO, you will need to communicate with different stakeholders within your company. You need to be able to explain financial concepts in a way that non-financial people can understand.Are you comfortable with change? Change is inevitable in business. As CFO, you need to be comfortable with change and be able to adapt quickly to new situations.Are you a good problem solver? As CFO, you will be faced with many challenges. You need to be able to identify problems and find solutions quickly.You have leadership potential? As CFO, you will need to lead your team and inspire them to achieve great things. You need to be able to motivate and mentor your team members.
But feeling ready is just a start. Listen to the show and hear Dan explain the other dimensions of CFO readiness, why one size doesn't fit all, and why there is no easy way to measure CFO readiness or have a CFO readiness index.
Links
Landing Your First CFO Role: CFO Readiness GuideJoin a taster session for the Future CFO ProgrammeTake the CFO competency framework assessmentFind out more about the GrowCFO mentoring team and how they can support you in your CFO roleDan Wells on LinkedInKevin Appleby on LinkedIn
Timestamp
00:41 How do you know you are ready to be a CFO?
03:06 The skills every CFO needs
04:00 The three types of CFO
04:10 The financier CFO
05:37 The strategist CFO
06:52 The operator CFO
08:02 The GrowCFO competency framework
09:13 Which competencies are most relevant to you as an individual; Module 3 of the Future CFO Programme
11:29 Which type of CFO do you want to be?
13:30 3 Different scenarios for your first CFO role
17:56 The relationship with the CEO, and the cultural fit
19:54 A proper action plan, not a CFO readiness index
22:18 The things we cover in the future CFO programme
25:30 What are your next steps?
Do you have the opportunity to do what you do best every day? Chances are, you don't. All too often, our natural talents go untapped. We devote more time to fixing our shortcomings than to developing our strengths. So, Do you play to your strengths? Do you even know what your strengths are? Or how to best use them? The good news is that Strengthsfinder 2.0 from Gallup can give you a real insight and help you leverage the talents you have.
Jim Brophy has worked as a CFO and is both a mentor and a Strengthsfinder 2.0 (or CliftonStrengths) accredited coach. He joins us on the GrowCFO Show to explain how he uses Strengthsfinder as an integral part of his mentoring. On the podcast Jim tells us about his career as a CFO, how he discovered Strengthsfinder and gives us an overview of what it is and how you can use it to best advantage in your day to day.
Links
Buy Strengthsfinder 2.0 on Amazon UK or Amazon USAFind out more about mentoring at GrowCFOFind out more about CliftonStrengths at GallupJim Brophy on LinkedInKevin Appleby on LinkedIn
Timestamp
00:46 Jim Brophy's career as a CFO
03:49 FD & CFO roles in Asia
05:26 Becoming a portfolio CFO
07:24 Becoming accredited by Gallup
09:31 Mentoring
11:30 The stresses of a new CFO role in a new organisation
15:25 Where does Strengthsfinder fit in?
16:55 Linking values and strengths
20:02 What exactly is Strengthsfinder
22:22 Myers Briggs and DISC
24:47 How do you take the test?
25:49 The 34 talents
28:00 Our top 5 talents
32:24 Your top 10 talents, and the extended assessment
34:27 Developing talents instead of fixing weaknesses
35:31 The "Analytical" talent in more depth
40:59 Matching your talents to the immediate situation
41:30 Talents vs skills and experience
46:11 Maximising talents across teams
When did you last get your whole finance team together in person outside the office for a team event? Probably a long while ago. Your team has been working remotely for extended periods in the last two years. They may have started coming back to the office, but are rarely all together on the same day. Training and team development are some of the things that have suffered. You have struggled to invest the right amount of time and energy into your people's future. 2022 is the year you have to do something about it. How about a special event for your finance team?
Maybe now is time for a team away day? But where do you start? What do you cover? What exactly is the purpose? Moreover, how do you make it enjoyable, memorable and get a great outcome?
On this week's podcast, Kevin Appleby poses that question to a professional trainer and facilitator, Paul Maltby. Paul is the professional development leader for IBM Global Business Services in Europe and is responsible for running development programmes for many of the most senior people in IBM. He is also branching out with his own independent business that specialises in designing and delivering personal and team development activities. Paul has taken his many years of experience in facilitating events and put them into a book, "The Fearless Facilitator: A proven plan for leading successful meetings, dynamic workshops, and effective training events". He gives you some great advice about what to think about as you plan your finance team event. Paul talks about what to do and what not to do when you want to create a memorable experience. We also talk about handling a number of tricky situations.
Links
Find out more about GrowCFO finance team developmentEnquire about GrowCFO supporting your next finance team eventFind Paul Maltby on LinkedinKevin Appleby on LinkedinGet the book "The Fearless Facilitator" on amazon in UK and in USA
Timestamp
00:39 What does Paul Maltby do?
01:40 The Fearless Facilitator
03:32 The three sections of "The Fearless Facilitator" book
06:54 Facilitating in challenging situations
10:38 The deficit in finance team development
12:04 The importance of purpose
14:36 The "So What?" question
15:50 How do you create energy?
19:50 The answer is always 42
23:15 Forget the PowerPoint slides
24:42 Handling difficult questions
27:27 The finance leader developing facilitation skills
31:01 How much time does it take to plan a great event?
34:38 How GrowCFO and Paul Maltby can help you deliver your next event
Things are changing fast in finance. You are more than likely struggling to keep pace with the latest technology. You might be in a fast growing business and your team is struggling to keep pace. There's pressure to get better management information sooner. These are all challenges for the finance team leader. In GrowCFO, the Future of Finance Functions regular events are designed to help you with all these challenges.
Future of Finance Functions is a live Zoom webinar that takes place to discuss all things concerning the modern finance function. These range from systems to processes to people issues. Automation, integration, faster close, and the latest cloud accounting are all subjects we cover. Chris Tredwell is the regular host of the events and he joins Kevin Appleby on the GrowCFO show to tell us what to expect in the 2022 series.
Meetings taking place on the second Tuesday of each month and the 10 topics we will cover in 2022 are:
Is now the right time to change? (8/3/2022)Why Strong Foundations are key to your departments' success (5/4/2022)What is True Cloud Accounting? (10/5/2022)Ensure you are able to scale alongside your growth ambitions (14/6/2022)Automation in Finance (12/7/2022)The value of Integration (9/8/2022)What should I expect from Reporting (13/9/2022)Improve your Month-end close (11/10/2022)Get it right - Do's and Don'ts / Procurement Checklist (8/11/2022)How to review the software market (13/12/2022)
The series of events looking at change management will continue on the last Tuesday of each month.
Links
You can book a place on these sessions by RSVP at www.growcfo.net/events/Find out more about Chris TredwellFind out more about Kevin Appleby
Timestamps
00:56 The reason we started Future of Finance Functions
04:13 The topics we've covered in the last 2 years
09:35 The 10 themes for 2022
12:08 Is it the right time to make the change?
12:30 Cloud accounting
13:00 Scaling the team in line with business growth
14:34 The difference between automation and integration
17:02 Reporting and KPIs
17:42 The do's and dont's: learning from others experience
20:01 Selecting and procuring software
21:35 How to book your place at any of the future of finance functions events
22:00 The change management series of future of finance functions events
26:25 Accessing recordings of past events
28:19 What else does GrowCFO do?
Do you struggle to write compelling reports that get the right response from the rest of your business team? Business Writing doesn't come naturally to many finance leaders. You are probably much more comfortable with an excel spreadsheet than drafting a report that needs to be persuasive and encourages others to back your arguments or take the right actions.
When you produce a finance report you aren't just articulating the numbers, you need to tell a story. You need to make the numbers come alive and turn them into something meaningful that your audience will understand. It's often not an easy task.
Martin Booth is an experienced copywriter and is the ideal person to help you improve your business writing. Martin is featured in the communications course within GrowCFO's new finance team training package. The course examines all forms of communication including sections on both powerful presentations and writing persuasive reports.
Martin spent more than 20 years on the sports desks of various national newspaper titles including The Times, the Sunday Mirror and the Daily Express. More recently, he worked in the betting industry. Martin’s focus now is on creating, refining and delivering written content of the highest quality for business owners and leaders.
In the podcast, Martin tells you about the things you should avoid when you draft your next finance report. He goes on to explain to you how to create better business reports that are properly targeted to the audience that will read them. He explains that even in finance it's all about telling engaging stories to real people.
Links
Enquire about finance team training and development for your teamFind out more about LeBoo MediaMartin Booth on LinkedInKevin Appleby on LinkedIn
Timestamp
00:43 Martin's background in sports journalism
02:18 The biggest challenge in moving from sports journalism to business copywriting
03:01 What do finance folk tend to get wrong when they write reports?
07:12 The importance of creating a persona or an avatar from your intended audience
09:38 Getting behind the numbers and saying what they really mean
10:39 Storytelling brings things to life
14:01 The importance of a good headline and first paragraph
16:23 The power of the executive summary
18:27 People don't read reports start to finish they dip in and out
19:44 Have a call to action, tell people what to do next
20:20 The importance of a good structure
22:18 Audience research
27:11 Remember that while the report is about the business you are talking to people think about "what's in it for me?"
30:15 Paul Gascoigne.....If you want to know what Gazza has to do with writing better finance reports you have to listen to the audio!
You have just landed your dream job. Now your challenge is how to make an impact in that new finance role. You need to hit the ground running. What you do in your first hundred days in your new role is critical. If you get the first 100 days right then you will get the first year right. Get the first year right and you will set yourself up well to excel in years two and three.
The first 100 days are vitally important. There are multiple challenges you will need to address. You have a new team, you need to get to know them as individuals, assess their abilities, and understand their strengths and weaknesses. You also have new business colleagues, you need to get to know them, understand their issues and begin to build a successful working relationship.
On top of all this, you will need to find out how the business actually works, and understand its processes and systems. Particularly those you own or are directly responsible for.
Where are the issues? what do you need to fix? You will need a clear plan for those first 100 days, and you will need to execute the plan effectively.
In this episode, Kevin Appleby and Dan Wells go deeper into all of these issues and discuss how to approach the first 100 days in your new finance role; how to plan for those 100 days; what you can do even before your first day; and some of the things you can do to help execute your plan effectively.
Links
Enrol in our free course: "New Role: Your First 100 Days" covers all the things that Kevin and Dan discuss and goes into much more detail. If you are about to move into a new role then this course is ideal for you Enquire about finance team training and development for your new teamFind out more about the GrowCFO mentoring team and how they can support you in your new roleListen to the podcast: "Build a Heatmap for Change" with Susana Serrano-Davey, which focusses on a key activity in your first 100 daysDan Wells on LinkedInKevin Appleby on LinkedIn
Timestamp
01:16 People move roles on average every 3 years
01:57 Franklin D. Roosevelt and the origin of the first 100 days
04:15 The different challenges of an external appointment and an internal promotion
05:46 Think carefully about your No.2
08:00 Why were you appointed to the role? What are you expected to fix?
09:49 Getting up to speed with business as usual
10:34 The first 10 days in your new finance role. The settling in period
11:33 How to plan the next 90 days
14:40 The first 30 days: Fix
17:03 The middle 30 days: Blueprint
18:00 The final 30 days: Transform
19:05 Involve your team. Build a heatmap for change
22:00 The importance of mentoring
Many finance leaders have approached GrowCFO asking for help with training their finance teams: what sort of training and development does my team need? What should it cover? And how should it be delivered?
In this episode, Dan Wells and Kevin Appleby discuss the requirements and options for effective finance team training and development. We draw valuable insights from our 2021 survey of over 200 finance leaders. There is a clear need for a broad range of skills training, ranging from financial topics such as cost control to soft skills such as communications.
Self-paced online finance team training is popular, but many leaders still favour in-person training and where possible, have this bespoke to their organisation’s requirements. We talk you through GrowCFO’s team training online courses, mentoring and coaching, workshops, and team-building events and their benefits.
Our team training resources are designed to cover the topics that will have the most impact on your team and organisation, free up your own time by delegating more, and improve your ability to retain your best staff.
Links
Enquire about finance team training and development for your teamDan Wells on LinkedInKevin Appleby on LinkedIn
Timestamps
00:59 Finance leader training survey results02:16 The training deficit caused by the pandemic03:43 The four most sought-out areas of development05:15 Bespoke workshops available to you07:13 Online training (courses, mentoring and coaching, workshops, and team-building)08:09 The 10 most popular topics for training10:53 The typical time needed to complete an online course13:16 Cost-effectiveness of online training15:11 Saving your time by enabling you to delegate additional tasks16:01 Why investment in training and development helps you retain your best staff18:11 Taxation and local regulations20:35 How to find out more
In this episode, Kevin Appleby interviews Felix Velarde, author of best selling business book Scale at Speed: How to Triple the Size of Your Business and Build a Superstar Team. Felix is also the founder of 2y3x.com, a growth acceleration program.
Felix has distilled some of the best strategies he's learnt over twenty-five years of leading businesses of varying sizes into an easy-to-read framework. He expertly lays out the journey a business needs to undertake to scale. He breaks it down into digestible steps, allowing you to achieve your goals through well-structured frameworks and engaging stories along the way. It's a great guide to achieving 3x growth in 2 years (2Y3X).
We use this framework to examine the role of the CFO. The CFO's role within the team charged with setting strategy and delivering growth is vital. The CFO is key to the entire process.
We also consider businesses that are in trouble and need to transform quickly in order to survive. Felix strongly believes that the same framework that allows you to scale at speed works just as well in a short-term crisis. He backs this up with evidence from his own clients who lost significant revenue at the start of the pandemic.
Links
Felix Velarde on LinkedInKevin Appleby on LinkedInBuy scale at speed on Amazon UK or on amazon.comListen to Felix on The Next 100 Days Podcast
Timestamps
00:53 Felix's background as a serial founder03:02 2Y3X: triple your revenue in two years08:29 Scale at Speed: The role of the CFO14:24 The CFO is in a unique position on the Growth Lab team17:08 The Growth Lab team and its purpose18:43 Scale at Speed, the book19:30 Jim Collins and the Big Hairy Audacious Goal (BHAG)20:27 Edwin Locke and Goal Setting Theory23:17 The Scale at Speed framework in a crisis31:14 Team's holding each other to account37:34 Motivating the growth team: Do you need incentives such as EMI?40:01 The importance of shared values for your team46:37 The financial goal, the quality goal, and the people goal47:40 Summarising the role of the CFO in the growth process
Mike Henebery has been involved in private equity transactions for most of his career. He's recently co-founded Titan Partners. Titan has just completed its first 8 figure fundraising deal helping fast-growing technology business Wise secure minority funding from Inflexion.
Mike's Career in Fundraising and Private Equity
Mike is a qualified accountant, starting his career in Arthur Andersen. He quickly moved away from audit and into the world of deals and fundraising transactions. His 30-year career in deals started in Montagu Private Equity and then Gresham LLC. He moved on to found several businesses of which Titan is the latest. You can find out more about Mike in his Linkedin profile.
What does Titan Partners do?
In 2019 Mike launched a new consultancy: Titan Partners. The mission was about accelerating success for SME owners.
Titan Partners offers DISRUPTIVE start-ups and scale-ups access to a diverse range of EQUITY and CREDIT CAPITAL solutions ranging from high net worth to institutional investors leveraging our own startup/scale-up fundraising.
Titan Partners facilitates fast growth, disruptive and profitable SMEs with unfulfilled Big Hairy Audacious Goals and executes a clear exit strategy.
The steps:
assess value objectively;access to capital on the best terms; boost innovation (along with sales and profit); close out the transaction.
Mike explains to us how leveraging Dr Dave Richards experience is key to step 3.
These steps help owners fulfil their ambitions faster while still maximising value
The GrowCFO Fundraising Simulator
While Mike has a wealth of experience in fundraising, this isn't something that is common for accountants and CFOs.
Over two-thirds of aspiring and first-time finance leaders have little or no fundraising experience. This can easily derail your career progression and leave you feeling unprepared when leading your first ever fundraise. If that's you then GrowCFO can help.
GrowCFO’s Fundraising Virtual Simulator provides you with essential first-hand CFO experience of leading and delivering an entire fundraising process from initial brainstorming through to deal completion.
Our simulator is based on a real-life $12 million fundraise comprising equity and convertible debt for a high growth company with a pre-money valuation of $60 million.
We have designed our simulator to help prepare you to confidently lead a range of fundraising deals so that you can thrive throughout the process. You will feel empowered to obtain the best available deal for your company.
Find out more about GrowCFO
If you enjoyed this podcast you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google podcasts and many others. Why not subscribe there today? That way you never miss an episode.
GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and take part in our regular networking events and webinars.
Premium members also have access to our extensive training centre. Here you can enrol in our flagship Future CFO or Finance Leader programmes.
You can find out more and join today at growcfo.net
On this episode of the GrowCFO Show Susana Serrano-Davey and Kevin Appleby discuss how to Build Consensus so that your proposal is accepted without challenge.
Have you ever wondered why some people can turn up to a meeting, present their proposals, and have them accepted without question? Yet at the same time, you bring your proposal forward and you get a hard time and no decision. Why? What are you doing wrong?
The answer is you probably aren't doing enough outside the meeting room to build consensus. If you put in the hard work before the meeting, it's likely you will have a far easier ride in the meeting itself.
There are three steps to build consensus
Susana defines three steps to building consensus:
Identify who you need to persuade. Who are the key stakeholders? These might not just be the meeting attendees. Some board members may take advice in some instances from their no.2 or other members of their own function. If that's the case, you need the advisor on your side and saying the right things when they advise their boss.
Engage with each of your stakeholders in an appropriate way. Find out what their issues are and talk about them before the meeting. It might require a formal meeting. It might just be a chat at the coffee machine.
Adapt your proposal to take account of their feedback. The consultation process is bound to give you some new information that will make the proposal better. Make sure you recognise this information and make the updates to your initial proposal.
Listen to the whole episode to find out more.
Find out more about GrowCFO
If you enjoyed this podcast you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google podcasts and many others. Why not subscribe there today? That way you never miss an episode.
GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and take part in our regular networking events and webinars.
Premium members also have access to our extensive training centre. Here you can enrol in our flagship Future CFO or Finance Leader programmes.
You can find out more and join today at growcfo.net
Pinky Jangra teaches resilience to individuals and teams. She joins Kevin Appleby on the GrowCFO Show to explain how to create a resilient finance team.
About Pinky Jangra
Pinky has delved into many branches of human development and behaviour, enabling her to build a rich understanding of the human experience - mind, emotions, body, behaviour and soul.
Pinky has been teaching her own courses since 2015. She delivers her proprietary Resilience Training to a variety of audiences online, in person, in business and personal environments.
She combines her human development knowledge with 10+ years of corporate and consulting experience to help organisations with other people related areas including wellbeing, culture, change management and leadership development.
Following this path enables Pinky to do what she loves - "leading people towards their greatness, growth and transformation. I love seeing people blossom. I love seeing them step into their own power and unlock their inner genius. We are not here to play small, to be bystanders, to be at the whim of our circumstances, beliefs and other people's expectations. We are powerful creators, each bearing gifts and talents, we are able to overcome even the toughest challenges. We're here to make our lives, our teams, our companies and our world better together."
How to create a resilient finance team
Pinky says it depends on what your focus is for the training. If you're doing resilience training for individuals, or for the team as a whole. Whichever it is, the first thing she starts with in all her training is self awareness skills.
The first thing you have to understand is what's going on in any person's mind, emotions, body behaviour, any given time. So that's really what you do to set the foundation.
And then if you are doing something for a team you can start looking at a vision of what you actually want to create, collectively, or you can do it for an individual.
Visioning is only the start. Pinky teaches five or six different elements of resilience. Some people just say, oh, to build your resilience, you need to just work on your mindset, or you need to do some exercise. But you are a holistic being, everything about you is a system, everything is working together.
Pinky does look at mental resilience, looking at your own mindset. But theres much more.
She then considers emotional resilience, what do you do when you're stressed? And how are you handling difficult emotions and anxiety? And so on? Are you processing them? Are you regulating them? Pinky has a whole toolkit to help you.
Then there's also behavioural resilience. So what are you doing? Are you one of those people who just says yes to everybody? And then you wonder why you're so overwhelmed as a simple example.
Using these techniques together, you end up creating a resilient finance team
Listen in to the full recording as Pinky tells us much much more about each element of resilience.
Find out more about GrowCFO
If you enjoyed this podcast you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google podcasts and many others. Why not subscribe there today? That way you never miss an episode.
GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and take part in our regular networking events and webinars.
Premium members also have access to our extensive training centre. Here you can enrol in our flagship Future CFO or Finance Leader programmes.
You can find out more and join today at growcfo.net
Helene Brichet Herbinet is the newest member of GrowCFO's mentoring team. She joins Kevin Appleby on the GrowCFO show to talk about her background and what she believes makes a good mentor. Helene tells us about 5 types of mentor and the situations in which each type works best.
About Helene
Helene describes herself as "an inclusive and dependable leader and team player with cultural sensitivity, openness and integrity". Her focus is on delivering value to organisations, their people, customers and stakeholders. She leads change with a clear vision and close stakeholders engagement. Helene is passionate about building and leading high-performing teams. She says "I invest in supporting individuals' growth and development. Bringing commercial acumen, critical and strategic thinking in diagnosis, problem-solving and decision making".
Helene's background is in financial services. Her experience includes Barclays, Visa, and Capital One.
She describes her career as non-linear, meaning she has changed roles often, and not necessarily for promotion to broaden her experience. Helene tells us more about the benefits of a non-linear career path in the audio recording.
Besides GrowCFO, Helene also mentors for the ICAEW. You can find out more in her LinkedIn profile
The 5 Types of Mentor
Helene believes everyone needs five types of mentors.
The first type is the Jedi Master. They have the experience and the Wisdom. They can provide insight into the industry, the function, or the role you work in.
The second type of mentor will champion your cause, they will have your back. They will be connecting you to people, influencing how people see you, and introducing you to the key people.
The third type of mentor is the co-pilot, the peers, committed to your success as much as you commit to this in collaboration.
The fourth one is your confident or your anchor. They don't need to be in a professional environment, or at least they don't need to be in your industry or functional role. They are a coaching type of mentor, a sounding board for you. This mentor knows that you're going to hit speed bumps and that you're going to go through challenges as you develop as a leader. They can give you a lift, a psychological lift, and help you see light at the end of the tunnel.
And the fifth one is the reverse mentor. That's someone you learn from. Because they bring a new perspective, because they, they have a skill that you don't have. And generally, this is more intergenerational.
You can learn more about each of the 5 types of mentor by listening to the show.
Find out more about GrowCFO
If you enjoyed this podcast you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google podcasts and many others. Why not subscribe there today? That way you never miss an episode.
GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and take part in our regular networking events and webinars.
Premium members also have access to our extensive training centre. Here you can enrol in our flagship Future CFO or Finance Leader programmes.
You can find out more and join today at growcfo.net
Tom Berry joins us on the GrowCFO Show to talk about communications. Tom is passionate about building businesses, creating brilliant places to work, teaching kids and making people happy. His background is in journalism and communications. These days he teaches business in a secondary school and has several non-executive directorships. We discuss communicating in a crisis.
Communicating in a crisis isn't easy
Tom's main advice is "Don't Panic". Communicating in a crisis needs to be calm and clear. Honesty is important, and it can be a mistake to hide bad news. The CFO needs to assess their skills. Just because the CFO has all the information doesn't make the CFO the right person to communicate it. If communication isn't your strength then get somebody else to deliver the message. Tom has much more to say than just this. Listen to the recording to get Tom's full advice on communicating in a crisis.
Tom Berry as a Non Executive Director
Tom moved from being a financial journalist to running a communications agency. He went on from there to become a Non-Executive Director. Tom tells us how that journey came about and his passion for working with mental health charities.
Why a CFO should also be a NED
Tom advises CFOs to consider taking on a Non-Executive role too. It gives an insight into a different organisation, allows you to see first-hand how other companies work. A good NED listens and is constructively critical. The CFO can enhance their skills by learning to do this. The transfer of ideas across organisational boundaries can be invaluable. CFOs can bring ideas back to their own business.
What makes a good CFO?
Tom has worked with quite a few CFOs.
He believes a good CFO is somebody who will look very closely at the underlying truth and tell the board the truth. A good CFO doesn't talk to the board that often, but when the CFO needs to communicate he will do so and you know it will be important. There's no point in repeatedly talking about the status quo.
Find out more about GrowCFO
If you enjoyed this podcast you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google podcasts and many others. Why not subscribe there today? That way you never miss an episode.
GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and take part in our regular networking events and webinars.
Premium members also have access to our extensive training centre. Here you can enrol in our flagship Future CFO or Finance Leader programmes.
You can find out more and join today at growcfo.net
One of the first tasks you have as a new finance leader is creating a blueprint for your finance function, and the other parts of the business you have responsibility for. Susana Serrano-Davey tells us how she uses a heat map for change to determine what needs to be done and in what order.
Susana outlines a five step process to create a heat map for change.
You have just arrived in your new finance leader role. Chances are you have been hired to fix stuff. Besides the things you know you have to fix there will be other things to change. You may well have your own opinions on what the solutions are and what needs to be done. Susana councils us to proceed with caution and follow a process.
Step 1: Dont start too quickly
You need to be mindful of your new situation. You need to get to know the organisation. How does your leadership style work within the culture of your new employer? The first few weeks are all about discovery, building relationships and finding out how things work around here. Until you understand these it's too early to implement change.
Step 2: Beware of the pitfalls
Change will fail if you haven't taken the time to build relationships. Take time to meet with the key stakeholders, and to really understand the nature of the problem.
Make sure you ask the right questions. Why are things not working? Why those particular things? There may be a variety of issues to explore. Why is it so difficult to report? Why are we getting the wrong numbers? Or, why are suppliers not being paid? Why aren't we closing on time? Whatever the question there are reasons behind it you need to know about.
Make sure you involve the people at the coal face in the solution. They will know more about the problems than you do. They will buy into the solution and the business change if they think they created it.
Don't be a know-it-all super CFO. Be humble. Even if you think you have seen it all before. Then you can build from that.
Step 3: Draw a Heat Map for Change
The heat map is simple. It's a 2x2 matrix. Take your team off-site to populate the heat map. This way you get consensus about the problems, their importance and their ease to fix. First look at the problems and agree on your level of concern about each. Rank them red amber or green. Park the greens, and then map the reds and ambers on the matrix according to ease of fixing.
Heat Map for Change
Step 4: Build a plan
The heat map will help you identify what needs to be done. It helps you prioritise what comes first. You need to turn this into a plan that identifies specific tasks, assigns responsibilities, and sets a timeline. Plan in detail for the first 90 days and an outline for the quarters that follow.
Stop the bleeding first. This will create some quick wins with a big impact. Then think about the big projects. You may want to take in some low hanging fruit. This will give you some further successes to celebrate while the longer-term changes are being worked on.
Step 5: Implement
Implement the 90-day plan. At the end of 90 days take time to celebrate success. Review what went well, what could have been better and plan the next 90 days. Before you plan again you need to update the Heat Map for Change and make sure that any new or changed priorities are reflected in the plan
Find out more about GrowCFO
If you enjoyed this podcast you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google podcasts and many others. Why not subscribe there today? That way you never miss an episode.
GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and take part in our regular networking events and webinars.
Premium members also have access to our extensive training centre. Here you can enrol in our flagship Future CFO or Finance Leader programmes.
Kevin Appleby is joined by, VP of professional services at Board International, Karlo Bustos to discuss the resurgent CFO and how the CFO can be the strategic adviser.
What is the resurgent CFO about?
The resurgent CFO is a white paper that looks at empowering finance leaders for change.
The research was undertaken to examine a hypothesis. To understand how finance leaders globally work through data and how they use this data to empower decision making. How do they transform their organisation and become more of a leader, In short can better information make the CFO a superhero?
The research survey was compiled from 600 finance leaders with 20 questions around 5 key areas. These were around: strategy in the role of finance in a time of change; performance management and reporting; organisation and change management; people and talent and data.
This is saying the CFO is moving away from the more operational side of the role and focus more on the strategic area. What is driving that?
In everyone’s journey map there is a maturity curve. In finance (and operations, IT, HR, marketing), at the start, there is a focus on standardising processes. You can then be an efficiency driver of identifying those standardised processes and knowing how many you need to do and which is viable for the business.
Then you look at how you are taking some of these efficiencies and gaining more insights into the information you’re gathering. Ultimately reaching being a leader and being adaptable and agile.
Over the last 18 months, there has been a lot of change in strategy and business model. Did the person with the numbers get more involved than normal?
This would have been the ideal situation. The office of finance should have true seat at the table. This should not just be as a scorekeeper, but as an enabler of more insightful decisions. Organisations doing well were the ones who listened to that person. The ones who were pro-active willingly transformed which enabled the business to set a true strategy. Those individuals had a seat at the table but their voices were also heard, and better decisions were made due to the data they represented.
Should the CFO look after non-financial data as well as financial?
Finance leaders are looking to expand their capability. This is the capability to draw out insights, and use data as a driver. That ethos can expand into HR, operations… Some finance leaders are there just to draw a dashboard and not to provide any guidance. The finance leader who is willing to come out and be a catalyst is being successful in personal and organisational perspectives. This is a resurgent CFO.
The change starts with you, be transformative. Be more of a decision-maker across your organisation.
Is there anything stopping the CFO from being a strategic adviser?
The acceleration of change will vary. Some will find it drastic because of its reactive nature. Some will have a more proactive nature and will make the right type of changes that are needed in the process and in the people.
People, process and technology are the three pillars. You want to be looking at reducing inefficient processes with this transformation. You don't have to do something big and drastic to transform. This could simply be a method of delivery our monthly reports.
Use data to support and drive insights. Asking the right questions is important as you want to clearly know what you are trying to solve, this gives you a direction which is important. Technology is an important catalyst to that transformation and you have to be able to manipulate that data.
In the survey, 89% of finance leaders know they need to make a specific choice on whether to automate that process or move on. If you stay on the sidelines for too long, someone else will stand up and be that resurgent CFO. You should be that leader. Use the data access tools to manage and improve over time.
Kevin Appleby is joined by GrowCFO’s Founder and CEO Dan Wells to discuss CFO training and how GrowCFO tries to cater for everyone's needs in their training programmes.
Why was there not a good place to go to to get all of your CFO training together?
This links to why GrowCFO was set up. A lot of finance leaders asked Dan where they could go for CFO training and he had a look to see if there was anything on google etc. It was really hard to find anywhere. There were random courses and videos but nothing that pulled it all together. No businesses were dedicated to training CFOs.
There is no CFO qualification, but GrowCFO has built a syllabus so that this doesn’t have to be the case. Lots of training programmes for accountants at the start of their career can be found. These can be helpful but people have different needs and require a different skillset to become a finance leader. As a head of finance or financial controller, you are the inward face of finance. Whereas, when you become CFO you are the outward face of finance. This is a very different set of skills. You are trained for the inward-facing roles but never the outward-facing ones.
Most people who are delivering a proper CFO role spend at least 60% of their time on delivering strategy and change. We expect this to accelerate because over time a lot of the operational tasks will become automated. In 2 or 3 decades time, it is expected, this will look more like 95% of people’s time. Being a good right-hand to the CEO and being a valued member of the board requires strategy, confidence and the right skills to influence people and act as a leader.
Why is GrowCFO’s CFO training so helpful?
Often you are facing problems for the first time once you are already in the role which is why the way GrowCFO is laid out is so helpful. You can search for the topics you need to help you through the challenge. This will then show you relevant events, workshops and podcasts that will help you with this topic.
Some people like the structure of a programme and going through it at a steady pace. Others prefer having quick access for when they need it and it gives them a safety net to know they have everything at their fingertips.
CFO roles are often very different. Kevin describes the three types of CFOs he has identified; the operational CFO, the strategic CFO and the Wall Street CFO. People are increasingly coming to the CFO role from different backgrounds. Depending on what routes they come from, people will be very strong at certain aspects of the role, however, there will always be gaps.
The GrowCFO Competency Framework allows you to scan across all of the skills you need to be a successful CFO and identify where your gaps are. The GrowCFO Competency Framework is something that GrowCFO has built in the past couple of years. It takes the perspective of people across the entire ecosystem. It consists of 9 competencies with 5 skills within each competency. People use our rating guidance pdf to determine whether they are at a beginner, intermediate or advanced level against each of the 45 skills. They are then provided with a benchmarking report to see where they rank for each skill against their peer group. There will then be links to multiple of the activities for each skill. You can take the competency assessment at https://www.growcfo.net/the-growcfo-competency-framework/
How would you define a peer group?
There are many different types of CFOs and people are also at different stages in their careers. We split the peer groups in two ways. It is easy to benchmark depending on what stage they are at in their career. This could be aspiring CFOs who are 3-5 years out from landing their first role. It could also be first-time CFOs who have been in the role for less than 3-5 years. Or, more experienced CFOs who may develop gaps as the role evolves. We look at the ownership structures of businesses,
Kevin Appleby is joined by Clarity First Founder, Davina Stanley, to discuss the 5 biggest communication traps. Davina goes into these in detail and how we can avoid falling into them.
- Assume that shorter is always better
Shorter text is not always faster to read. It is important to recognise that a shorter piece of writing may actually be more complicated to understand. It can take the audience longer to grasp the meaning and join the dots. Laying something out in clear steps may involve using more words. However, this approach will be quicker to digest. Delivering a logical clear message that is well-structured may double the length of the text, but it can be read in a quarter of the time. Avoid fixating on the length of the document. Instead, consider how fast somebody would be able to read and understand it. Executive summaries are a good way to give your audience a choice of how much detail they would like to receive. Users can either read the summary and grasp the concept from that, or refer to the main document to obtain more detail. This works well if you use the same structure within both your executive summary and main document.
- Putting the conclusion at the end
Bring the conclusion to the front. Structuring it by the way you did it forces your audience to go on the problem solving journey with you. Bring the finding to the front and then your audience will want to read on and you can include reasons why that’s true. Your audience does not have to go through the same process as you did to get to the conclusion so you don't have to structure it that way.
- Forgetting how our brains work
We need to be aware of how our and our audience’s brains work. We know in our head all the analysis and thinking we did, our audience doesn’t know this so they only have only got the words that we have written or speak. You have to try and bridge the gap and this can take a lot of energy. If we don’t understand what someone is saying or you are finding it hard you have to fight to be able to pay attention. If this person is someone important you will fight hard to pay attention but if it is someone who you value less you may not make the same effort. Forgetting how our brains work mean our audience have to do the work to make sense of what you are trying to communicate.
- Track changes is your friend
When discussing track changes in a group, the focus can end up being on the minute parts of the document that need to be changed, not the substantial changes. Think about getting the structure really right rather than trying to get into the substance of it. When you now share this structured way of doing it and get feedback on it you should then nail that down. Then create the document so you won’t need track changes. You will save a lot of time writing and reviewing your document and you will end up with a clear and compelling message. Track changes can create it a mish-mash. You can spend so much time making track changes that don’t add much value to your document.
- Thinking good structure equals a thorough list of topics
The human brain can only deal with 3 focuses at once. You should have a big idea and then 2-5 supporting ideas and these should be messages not topics. Using templates can be useful to make sure you look through the topic thoroughly, however, it doesn’t give the message of why. The finance update can also be a challenge. In this update there will be topics but it is useful to give a message with these topics that would give more of an understanding of why this has been the result.
Find out more about GrowCFO
If you enjoyed this podcast you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google podcasts and many others. Why not subscribe there today? That way you never miss an episode.
GrowCFO is a great place to extend your professional network.
In this episode of The GrowCFO Show Dan Wells and Kevin Appleby discuss the 9 biggest challenges faced by finance leaders and what you can do to address some of the underlying issues. We hear about the biggest finance leader challenges all the time from our GrowCFO members, and its given us a great insight into the issues you need help with.
What are the 9 biggest finance leader challenges?
The challenges fall into 3 broad areas. The first one concerns making more impact. The issues that you raised with us include:
Contribute more towards strategyMake more impact during Board meetingsGrow your confidence and overcome Imposter Syndrome
We covered those 3 topics in the first GrowCFO finance leader challenge in September, and a large number of you participated in the 3 30 minute events and then followed up with the tasks we gave you in the sessions.
The second is all about interacting with others, and you tell us the main issues are:
Build stronger relationshipsEnhance your communicationImprove your gravitas and perception
We are planning a series of finance leader challenges that cover these running from 1st to 3rd November and you can register here to be part of that event. https://www.growcfo.net/finance-leader-challenge/
The final three challenges relate to delivering your responsibilities and include:
Avoid feeling overwhelmed with tasksMaximise your team’s performanceInfluence and obtain people’s buy-in
There's a further series of events coming up in January to help you with these.
The top 3 finance leader challenges
- Imposter Syndrome
This is the biggest issue raised by our GrowCFO community towards becoming the best version of yourself. Around 80% of finance leaders suffer from this and 56% of our GrowCFO community identified this as being one of their top three biggest challenges towards delivering their full potential.Here are the typical challenges highlighted to us:
Stepping up into the top roleGetting more exposure to the BoardYoungest person in the Board roomLeast industry knowledge in the management teamRepresenting the firm externallyWorking outside of comfort zoneDoing lots of things you have never done beforeNot always a right or wrong answer
- Avoid feeling overwhelmed with tasks
The second biggest issue, and one that has a strong bearing on all the other issuesHere are the typical challenges highlighted to us:
You simply have too many things to doFinance leader picks up many tasks outside of finance that nobody else is doingYou are still too involved in the detail and unable to extract yourself for more value added tasksLack of the right skills in the rest of the team to properly support youCompany is growing but the finance team isn't, more work falls to the same peoplePutting processes and systems in place to deal with new business
- Contributing more towards strategy
This is the third biggest issue raised by our GrowCFO community towards becoming the best version of yourself. 29% of our GrowCFO community identified this as being one of their top three biggest challenges towards delivering their full potential.Here are the typical challenges highlighted to us:
Struggling to free up time to think strategicallyUnsure how to contribute towards strategic objectivesNot being consulted on key decisionsNever been involved in strategy beforeLack of toolkits to help you document and deliver the strategic plan
Events
If you want to find out more then you can register for the following upcoming events. https://www.growcfo.net/finance-leader-challenge/
Finance leader challenge: Interacting with others - November 2021
Building relationships - Monday 1st November from 1pm to 1.30pm.
Communication - Tuesday 2nd November from 1pm to 1.30pm.
Gravitas, perception and being seen as a barrier - Wednesday 3rd November from 1pm to 1.30pm.
Finance leader challenge: Getting things done - January 2022
Kevin Appleby is joined by GrowCFO mentor, Susana Serrano-Davey, to discuss storytelling and how it is useful in the CFO role.
Where does storytelling come into the CFO role?
No matter what job you are in, you can think about becoming a good storyteller. Not only do you want to get your point across but you also want to make an impact and getting people on board.
You can use the recipe that storytellers use and apply it to our own communications. It is a presentation technique which uses stories that are memorable. You also want to give a vivid description in order to evoke emotions and insights from others. Using scenarios that people can relate to will make them pay more attention.
What makes a good story?
Susana gives us a mnemonic that shows the key features of good storytelling. This is HUSSLE:
Hero - This is where you have to set up context. The context is what makes the audience care. You can also help this by creating a rapport between the hero and the audience. You can make them feel there is similarity between them and the hero so they will care more about what happens to the hero.
Uphill struggle - This will start to build momentum and create drama. You should now present the problem. When presenting something and there is a problem within it you want to see the problem from the audience's perspective so they can connect emotionally. This can link to a marketing technique used which agitates the problem before you give the solution.
Show - It is always important to put on a good show. Use words that are impactful along with body language and tone of voice. It is not just what you say but how you say it. In your story you want to have a wow factor. Susana suggests using colour or images, something that stands out. You also want to be aware of any unintended consequences of what you might show people as the same thing can mean different things to different people.
Solution - It's essential to present or propose a solution. This brings the tone. Although there is a problem, it can't be all doom and gloom but bring it towards a happy ending. When you think about the people you enjoy working with they usually are the people who will come to you with a solution and problem not just a problem. In a story this is where you include how the situation was solved.
Learning - The most powerful thing from the story is what can be learned. Fixing a problem on it's own is pointless, you want to see the problem as growth for the future and preventing problems in the future. What can you implement to help you in the future? You need to be able to come clean about things that have been broken in the past, the important thing is what you are doing to prevent it from happening in the future.
Extraordinary - This is about making your presentation memorable. It is important to do this so your audience will go away remembering the key points. It will also help you remember what you are talking about. You don't want people to forget your key messages and you can do this by using mnemonics, your imagination and imagery.
Storytelling is to make the message memorable as if you only show them numbers they will not remember as much. It will also help to get buy-in from people which, in the CFO role, you are constantly looking for.
What stories to tell?
Personal stories can be useful by giving examples or metaphors. The examples may appear not relevant as it may not be identical to your current problem but it may be similar giving you more insights.
At work we often shy away from sharing our personal information. Showing snippets of who you are as a person can be an asset as it shows you as yourself not just your professional side.
You want people around you to have the confidence that you can solve the issues. You can help this by showing your track record but including your problems in this too. The most powerful capabilities builders are the examples of very challenging situ...
There's a big gap between the skills and competencies you need as CFO to those you have as Head of Finance. The GrowCFO competency framework provides a great way of assessing your readiness for the top job. We use the framework as part of the Future CFO Programme. It usually highlights a lot of potential development areas for our students. One of the challenges for you as a prospective CFOs is prioritising your personal development plan to address the most important competencies. Module 3 of the FutureCFO Programme is all about that prioritisation so that you can effectively fast track your personal development plan.
In this podcast Kevin Appleby and Dan Wells give a preview of Module 3 of GrowCFO's Future CFO Programme and show how you can successfully accelerate your development to get to your dream CFO job.
The GrowCFO Competency Framework
In Modules 1 and 2 of the Future CFO Programme, you complete the GrowCFO competency framework and identify your biggest issues. These give you powerful insight into your current skills and challenges; how these rank against your peer group; and where your opportunities for future development lie.
The competency framework is split down into 45 different things. Most people on the Future CFO Programme find that they score well in relatively few of the 45. The potential gap between where you are now and where you think you need to be becomes somewhat daunting.
Don’t worry. You don’t need to have expertise in all 45 to become a good CFO. The purpose of module 3 is to take that assessment, and develop a sensible development plan. This allows you to fast track the particular skills you need to make that initial step up to the CFO role. The techniques you learn in this module will also take you beyond stepping up. It will provide you with a way of planning your own development for many years to come.
Everybody's Personal Development Plan is different
The first thing to remember is everybody is different. You have your own unique set of strengths, skills and experience. You will build on these and that will make you a unique CFO.
The remit of the CFO can be wide – there is no standard job description. What the CFO does varies from company to company. The role of the CFO in a startup or high growth organisation might also be very different from that in an established corporate.
The CFO will be the number 1 in the finance function. What the number 1 does is often determined by what your number 2, direct reports and wider team can do to support you.
The CFO is the co-pilot to the CEO. The role of the CFO is often determined by the support that the CEO feels they need, both to complement the CEO’s skills and to bring something extra to the business.
In short, there is no one size fits all. So, in determining your development plan you need to decide what sort of CFO you want to become and prioritise what is important to you. Module 3 allows you to address this systematically.
What do you do in module 3?
There’s a 5 step process and we suggest you use the next 10 days to work through it to build your own personalised development plan.
Step 1 – Current state assessment. Where are you now?Step 2 – Set a Vision. Where do you want to get to?Step 3 – What do you need to do next? Set your priorities for the next 90 days.Step 4 – Make space to take action. Identify where you add the most value.Step 5 – Build a plan. A plan on a page with clear milestones for each of the next 12 weeks.
Find out more about GrowCFO
If you enjoyed this podcast you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google podcasts and many others. Why not subscribe there today? That way you never miss an episode.
GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and take part in our regular networking events and webinars.
Kevin Appleby is joined by GrowCFO's Founder and CEO Dan Wells to discuss the launch of GrowCFO's Finance leader support Forum.
Finance leader support Forums overview
GrowCFO's community support Forums help finance leaders to share knowledge, seek advice and solve common issues. They allow free or Premium members to quickly benefit from the combined knowledge and experience of your finance leader community.
Many finance leaders are spending too much time delivering recurring finance tasks that add little value to your business. These Forums contain valuable insights regarding how you can automate, outsource, delegate or ditch such tasks. As a result, you will have more time available to make a bigger impact in your role.
As you get more involved in strategy, you will face challenges that you have never experienced before. In most instances, your community will have already conquered such challenges and can easily share the solutions with you. This will save you huge amounts of time and allow you to quickly identify the best solutions.
How many finance leader support Forums are there?
There are two finance leader support Forums.
Of these, the main Forum is called Finance Leaders Community and is designed for all GrowCFO members. This is where the majority of the community discussions take place and is the ideal place for you to discuss your specific challenges with the community.
There is also a Forum for the Future CFO Programme. This is designed to help you with your biggest challenges towards securing your first CFO role. Within this Forum, we also post regular updates for our Future CFO Programme activities to ensure that our participants don't miss anything exciting!
We previously had various other Forums featuring The Situation Room, Women's Finance Leaders and Startup/Scaleup Finance Leaders. However, we found it more effective to have one main community Forum and there is a tagging system to help you quickly navigate to the most appropriate discussions.
Who should join the finance leader support Forums?
Our finance leader support Forums are available to all free and Premium members.
We recommend that everybody in the community joins the Forums as they will save you lots of time and help you get to a better answer.
In fact, it is hard to think of a reason why you would not want to join in the Forums...!
Where you can access the finance leader support Forums?
Any GrowCFO community member can access our finance leader support Forums within the GrowCFO website. Simply log in and click on Forums within your left-hand menu bar.
We also strongly recommend that you download your free GrowCFO mobile app by typing GrowCFO into your App Store. We have integrated GrowCFO's entire platform into your App, which provides a fantastic user experience and is very popular!
How to get started
Your starting point is to click on your Finance Leader Community Forum and introduce yourself to the community.
Tell them a few basic details about your job title, company, location and aspiration. You will be pleasantly surprised how friendly and welcoming people are!
Next, scroll through the various discussions and benefit from the insights offered by other community members. Think about your biggest challenges and click on New discussion to seek advice from your peer group.
Monitoring the Forum activity
You will receive tailored notifications when other members reply to your discussions. This provides you with an opportunity to enter into conversations across a number of members within a particular topic.
Don't be surprised if other members also offer to support you in more detail through private messages or phone call - we are friendly and helpful bunch...!
We recommend that you scan through the latest Forum activity every few days and show your willingness to help others by contributing to their conversations.
Kevin Appleby is joined by Ian Kaye, CFO and executive coach, to discuss how to present with confidence and how to improve confidence.
What is your background and how did you learn to present with confidence?
Firstly, Ian trained as an accountant at one of the big 4 and worked in industry for 5 years. This led him to be based in Hamburg, returning after 2 years to do a full time MBA. Directly after his MBA, Ian moved to GE as a consultant.
Ian's roles have usually been business as usual finance roles and in smaller businesses as finance director or as leading quite large bits of change. He has also been largely interested in personal development elements. This included him expanding his interest of neuro linguistic programming during 2014-2017 by attending many courses and becoming a doubly qualified trainer.
He explains how the benefits of this create a toolset for you to understand yourself and the environment and people around you. Also, you can understand drivers of how we show up in the world. This personal development in this area has lead to Ian being an expert at how to present with confidence.
How can you get over the fear of presenting?
While Ian admits he is not a therapist, he recognises that exposure therapy can be very effective at tackling any fear. Exposure therapy theorises that the more you expose yourself to your fear, the more you will be comfortable with it. This will mean your fear will become less intimidating.
If it is part of your monthly set up to give a presentation, you will be getting practice. It may not improve after the first 2 or 3 times, but Ian says, progressively this will reduce the fear of presenting.
What do you think gives people the fear of presenting?
This fear can come from many places. Ian gives an example of someone being made fun of when they made a presentation at school. This will make them associate standing up and speaking in public with an unpleasant feeling. There is somewhere in the unconscious dialogue that tells you you are not interesting or good enough. This roots from the incident at school. While you may not remember why you have those feelings, you still feel them.
Ian says a big part of moving forward is understanding where the fear came from. This will enable you to reframe what meaning you have associated with presenting.
You also have to pay attention to the skill side. This will include what formats you use for presenting, how do you build your confidence to hold your presenter status and how do you engage the audience. One side of being able to present with confidence is the skill you have. The other side is feeling comfortable trying to present or removing the fear.
What should you start doing to build confidence?
There are many approaches. Ian suggests listening to your internal dialogue. You have to see what phrases you are saying to yourself when you are presenting. You should then be going down a timeline and identifying the root and where this started. This is when you try to question, challenge and reframe what it is. This will give you the resources to feel better about presenting. This will further lead to the ability to present with confidence.
There will not be an immediate, huge difference but you can increase confidence quite quickly after a few coaching sessions. It would also be useful to work on different presentation formats.
Ian also reiterates how important practice and knowing your subject is. This can lead you to being able to present confidently. He also suggests thinking about what is the worst that could happen. For example, if you are worried about being asked a question you don't know the answer to. Ian explains how very rarely does anyone expect every person to have every answer at their fingertips.
What do you do when you make a mistake?
It is human to make mistakes. You should be assertive to correcting your mistake. Ian does, however,
Kevin Appleby is joined by Andrew Tapson, experienced portfolio CFO, to talk about becoming a CFO to fast growth startups.
How did you start being a CFO for various companies?
As a teenager Andrew was surrounded by peers who were massively influenced by others and the group above. This is shown as 5 went on to be engineers and 5 to accountants! He at first wanted to be an accountant but then realised he wanted to get into business as he saw it as the place to be.
Andrew went to the big six (as it was then) for interviews. This lead to six offers. He decided to go with Arthur Andersen. This was because the people were interesting and they paid a bit more. The Big Bang then took place in London which led to Andrew working for a subsidiary of Bank of America. This set the tone for the next 30 years. It was all about finding a problem, finding a pragmatic solution and then executing it.
Andrew then became a finance director in Paris and then moved on to work for AT&T Capital. He continued to move to various places including Dutch bank ING. He then ended up as a CFO in 2011 and went on to be CEO.
How do you pick up the skills you don’t learn in exams?
You don't go on courses in how to shut down companies. Andrew says it comes back to heads-up management. It doesn't matter where you are in an organisation, walk around with your head up, talk to people and be intensely curious.
Andrew is not keen on job titles. It didn't matter what his job title was, he just did what needed to be done. He used to call his job title the minister without portfolio.
Changing the description of a finance director to CFO puts it on the same level as CTO, CMO etc. This will mean you are looking across the business helping other people and your team as you are in it together. Andrew saw in larger organisations that the CFO became the focal point as much as the CEO.
Despite them having different skill sets, Andrew prefers when the CFO and CEO are walking side by side. This means if the CEO is seeing an issue, they have their trust lieutenant next to them. This will get them that different perspective and get better results. There needs to be a partnership there.
Why are you called to fast scale startups?
Start up businesses sometimes have a 5 people with all C titles. Andrew aims to make them all a team. At ING there was a scaled down board with four people together who trusted each other. Andrew describes a venn diagram where connections between people are in the middle. At this board in there were a lot of connections and complimentary skills.
Usually Andrew is found by fast scale startups when their Venn diagram isn't working, or there's a three-legged stool with one leg. Without balance there is bound to be mayhem. Andrew knows he is someone who understands team and partnership and has done a lot. He also knows how dangerous he is with all this knowledge but he is also good at knowing when to call another expert in. He emphasises that you need to know what you are not expert in so you can talk to someone who is more expert.
What are the differences of being a CFO at corporate and portfolio level?
Kevin and Andrew agree on a general rule that a CFO needs to have 3 things that they know about everything and also someone who knows the detail.
CFO-ing in corporate land compared to portfolio CFO-ing is having that network behind you. In corporate life, Andrew didn't really have that. Now his network is a lot more. This means he has people he would call on because they know something more in depth than he does. Within this network there is a strong degree of mutuality.
This level of trust comes from shared values. The key value with this is the trust. You hear about people going to help a founder and then stealing their idea. That is not what it is about for Andrew. It is more about helping younger people on their journey step by step. Andrew's role here is to show them the way,
Kevin Appleby is joined by Paul Marchant to discuss his fast track to CFO at the Rail Safety & Standards Board.
Where did the fast track to CFO start?
Paul qualified at a small firm in Birmingham and then proceeded to move into politics for a few years. The political world gave him certain skills that are still useful in his current role. He then transferred back to finance 7 years ago.
Paul's role when moving back into finance was an management accountant role at the RSSB. Management accounting, Paul says, is a good step in. This is because you are dealing with decision making for the rest of the business and providing information for decisions that need to be made. It's an opportunity to not only give data but also show you can provide insight and thinking.
How much of a politician does a CFO need to be?
Paul says a CFO massively needs to be a politician. Similarly to politics, as a CFO you have to deal with different stakeholders and you need to evangelise your position.
The biggest similarity Paul identifies, is the messaging. You need to take complicated concepts and communicate them in a way that people can understand and get on board with. As CFO you know all the numbers but you need to put them into key messages that are compelling.
One of Paul's first tasks he was given after he made his fast track to CFO was to reform the pension scheme. Translating the complexities of a pension scheme to people on the ground is difficult. 2 or 3 clear messages would be most helpful. Within your communication you also have to be empathetic and understanding of the fact you are dealing with people's lives.
What happened from day one that got you that fast track to CFO?
When you join a new role it will take 6/12/18 months to get your head around the new business and how it operates.
Paul explains that he was possibly put on a talent list. 18 months into his role at RSSB, Paul was asked to become a senior management accountant. This was with a view for him to take on the role of head of finance 8 months later.
This is when Paul really felt imposter syndrome. RSSB brought in an interim head of finance with a view of developing Paul into this role.
When you reached the head of finance role did you experience imposter syndrome?
For Paul, he experienced imposter syndrome when moving from management accountant to senior management accountant. This was due to him not having managed line before and suddenly he was in charge of his peers. Your peers can struggle to see you in a new role and this can make you question yourself.
When Paul reached the stage of head of finance on his fast track to CFO he saw the big task that was in front of him. This means he didn't have enough time to think about imposter syndrome. The best way, Paul says, to overcome imposter syndrome is to chuck yourself in and expose yourself to everything. To mitigate it, the urgency around the need for action Paul faced meant he would have to sink or swim.
How did you take onboard skills on how to manage a team?
This is the first challenge you face that you did not pass exams in. Managing people is vital to having a successful team. The people side of things was Paul's biggest driver of imposter syndrome.
Paul had a decent mentoring platform. These were mentors in and out of the business who he could discuss strategy with as he makes more difficult decisions. Paul mentions this being the first time he felt lonely in a role as you have previously been on the same level as others.
He also mentions reading around as being very helpful for him. These books can help you understand different characters and how to manage them.
Lastly, Paul's previous experience in politics means he can spot an agenda being formed early on. You're exposed to certain political environments where spotting warning signals early is very important.
The move from head of finance to the board in your fast track to CFO ...
Kevin Appleby is joined by consultant, David Tuck, to explore how to set a transfer price. He also looks at transfer pricing advice and how effective it is.
There has been a shift in transfer pricing
David tells you there is a mystique of complexity around transfer pricing. It does not need to be that way if you have modest international aspirations.
Is transfer pricing all about tax? Or public image of company? David explains how there has been a real shift. Proactive tax planning to aggressively reduce tax liability is less prevalent now. The BEPS rules play a big role in this.
There has been a successful campaign in the media to show that it is part of you corporate social responsibility to pay the right amount of tax. Make sure you get it right and don’t fall foul of rules and regulations and potential complexity out there.
Transfer pricing is much more about accidental consequence mitigation now. Making sure you don’t make mistakes or interpret the rules wrong. It is also no longer adversarial; "how can we beat the tax authority?". The public outcry over Google, Amazon, Starbucks etc has been a part of this change.
It’s about navigating the rules. Expanding internationally because it's in our commercial interest to do so, not to save tax. As David says, the tax tail no longer wags the business dog!
Accidental consequence mitigation
With transfer pricing, often start up finance leaders have heard it and they google it. They think they don’t need to do anything as there’s a UK SME exemption. This means from a UK perspective, there are no worries. They don’t, however, realise that if you have international operation the same exemptions may not apply. There is no exemption in the USA for instance.
As a result, that startup could be exposed when it comes to transfer pricing. This means you could build up costs and losses which exposes the startup to inquiries in the USA by the IRS. This bites when you’re going through funding round or an exit. There can an be serious consequences.
Operating in other countries may mean you need to see if you need a transfer policy. A US operation may expose start up to 6 years of going back in terms of enquiry instead of 3. The IRS can enquire into you when you are going through an exit. Any opportunity for a price shave will be looked for and they will see transfer price risk exposure. It can drop the value by 10%.
What transfer pricing help do SME's need?
The way David comes at is that there is a false dichotomy at present when it comes to transfer pricing. Either you do nothing or ,what a lot of finance leaders do, cobble a policy together themselves. Alternatively, they go to a professional services firm.
There’s a middle ground here. The principle of reasonableness underlies the transfer pricing rules. David believes there is a gap for an OECD-aligned solution.
If you’re a startup the most important thing is to have a sensible transfer pricing policy, sensible mark-up, some documentation that looks the part, then some legal agreements to back-up this is a genuine commercial relationship. David sees a gap for an OECD-aligned solution that could get you 95% of the way there. It is ballpark accurate, and it's more than reasonable. That’s what finance leaders in startups want, to have done something sensible without paying eye-watering sums for finance pricing advice.
Further down the line, you might go and pay for some specialist transfer pricing advice on top of that general policy to give you additional peace of mind. You don’t want to do this at an early stage, especially when your business operations are still fluid.
Transfer pricing is not overly complicated
There is nuance to transfer pricing. There are five transfer pricing methodologies. The three first considered are transactional indicators. You look at that sale of that good or service and requires knowledge of a business’s gross margin that you will realistically ...
Kevin Appleby is joined d GrowCFO mentor, Susana Serrano-Davey, to discuss how to give feedback properly.
How do you start preparing a manager to give feedback properly?
Susana explains to you that feedback is a craft that we acquire over time and experience. You will go through a learning curve to reach the point of giving feedback properly.
To prepare a manager for giving appropriate feedback some companies have training in place, however, Susana says that this is a good step but can't be the only one you take.
If you are a new manager or an experienced manager who's feedback isn't landing with their team, Susana tells you to find someone who can be a feedback mentor for you. You should find someone who gives or handles feedback correctly and then share your challenges with them.
How do you give feedback properly in a difficult conversation?
You should react quickly if you see there being an issue with someone's performance. It will give the person the heads up and a chance to develop before the conversation becomes more difficult.
The choice of language you use is critical when giving feedback. Susana suggests using more neutral words and also to not personalise the feedback. This will help you give the feedback properly and make it less aggressive.
Preparation for the feedback you are going to give is important. You need to think beforehand about what points you are going to make as you are more likely to handle the situation in a balanced way.
The environment where you give your feedback can also impact the way it is received. Susana describes to us how she gives feedback to her team in a more informal setting so it can be more of a conversation and less aggressive.
How can the culture of the organisation impact feedback?
Some organisations can be very hierarchical. There are also some managers who think feedback is telling the person how they are doing with their tasks and what they need to do better.
Others have a more holistic approach. This is where they will focus, not just on the job at hand, but also personal development. They will look more at the person rather than the role.
Elsewhere we can see a culture where it's scary to ask your boss to help you achieve the improvements they have set you. In feedback, you need to not only tell the person what they need to improve on but also what they need to do to achieve it.
How should you receive feedback?
When receiving feedback you should put all your shortfalls on the table. This will lead you to asking for specific help on these tasks. Managers can provide you with guidance, support and even possibly finding additional resources.
If someone gives you feedback in a broad way, ask for the specifics of what you are being told. This means you can be more focused on the things that really need additional attention.
Susana also expands on being willing to listen when receiving feedback. Take note of what they are telling you. Also, take time to digest what you're being told so you don't automatically go into defense mode.
Lastly, you always should accept the feedback. Even if it is harsh you have to look for the gem in the feedback that you need to improve from, and possibly previously didn't see.
360 degree feedback
Susana likes this feedback and shows you how it can give you a more balanced view. The more directions you look into the more balanced your view will be. Listening to one opinion will leave you with a biased view on what to improve on. Even people far away from you in your role can give you insightful feedback.
Some can find it hard to give their boss development points. However, it is very good practise at giving feedback properly, in a way that doesn't create discomfort.
All feedback is important including your clients. These can be anyone you have delivered a product to or interacted with. The people you interact with will vary so this means your feedback approach has t...
Kevin Appleby is joined by Tony Shafar to discuss dealing with difficult conversations and how you can make them less difficult.
Why do people avoid difficult conversations?
Someone may not be forthcoming to have a difficult conversation with someone if they feel they will get a negative reaction from them. Tony explains that this is usually driven by them not having done the task the way they thought it should be done.
Tony expands into how you can make someone more open to have these conversations. The main factor he talks about is if you want honesty you need to give it.
The mindset you need to have for difficult conversations
To make a difficult conversation more comfortable you need to be willing to understand from their perspective. Tony shows how this should include understanding what is stopping them from doing the task the way you want it done.
When wanting people to be more open and vulnerable you need to reflect them yourself. Sharing with your team times you have previously struggled will show them it is normal. They will, therefore, feel more comfortable sharing their problems with you.
Tony and Kevin agree that it is unrealistic to be good at everything. Showing this vulnerability will make people feel more open to giving suggestions and will invite a conversation to get other perspectives.
Tony explains that you should have the mindset that you have an idea of how it should be done but have an open mind to other ways of doing it.
The culture you create for difficult conversations
You should have a culture that everyone feels comfortable giving their opinion and that they feel as though it is valid. Tony gave a few ways you can create this open culture.
Utilise the junior members of your team. Hearing senior members talk about their ideas may leave junior members less sure in their ideas. To counteract this, letting the junior members talk first will let you hear their fresh ideas as they have less of an idea of what is right and wrong. In conversations there may be regular people who are always vocal. Possibly have discussions within discussions to give the less vocal people a chance. You could also highlight the counter-productive behaviour that the vocal people have with them.
The finance leader's difficult conversations
Managing costs and budgets is a difficult conversation finance professionals need to have. However, Tony shows us how these can be made harder when you have to have a difficult conversation repeated and are still not seeing any action.
Tony then helps you by giving ways of making these conversations less difficult. One is allowing them to be part of the solution. Instead of telling them what the solution is going to be, go to them with the problem and ask for their solution to add a new perspective. It would also make them feel more involved in what the final decisions will be.
The difficult conversation of change
People will usually look at change by seeing what they will get out of it. This is why, Tony says, you come to them with the question of which solution would work best for you while explaining the problems they need to overcome.
This involvement makes change less forced and that they are partly responsible for the decision that was made. This makes them more likely to make it want to work.
Find out more about GrowCFO
If you enjoyed this podcast you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google podcasts and many others. Why not subscribe there today? That way you never miss an episode.
GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and take part in our regular networking events and webinars.
Premium members also have access to our extensive training centre. Here you can enrol in our flagship Future CFO or Finance Leader programmes.
Kevin Appleby is joined by David Appel from Sage Intacct to discuss reporting for a SaaS business.
5 Stages of SaaS business growth
David Appel discusses with Kevin the 5 stages a SaaS business will go through, also what they need to accompany them:
At this stage the simple goal is to create product market fit.The next stage is for you to prove you can sell your product and hire reps. Here, David explains, the focus needs to be on billing and cash flow. The metrics are around customer acquisition and sales efficiency. This is when you want to prove your net renewal model. This means you can hold and upsell the customers that you have. David indicates this is why more mature finance leaders are hired here. There needs to be a large focus on tracking performance obligations and contract obligations, tying every upsell back to them. As this continues, the finance function becomes more complicated.Make it predictable and scalable. This is when you will start to hire a more skilled finance team.This is the big outcome. It will be a strategic exit or IPO where the company will go global. Due to the higher stakes, there is a lot of additional pressure and scrutiny.
With a SaaS business, recurring income makes meeting shareholder expectation easier.
What’s the typical time-scale between more basic (receipts in shoe box) to thinking about the big outcome?
David explores how SaaS businesses are getting faster and faster at this transition. However, investors always want it to go faster.
For the top 10% who get there, it can be 6-7 years. Others can take 15, and up to 20 years. This can be down to the markets moving and customer sentiments changing. David suggests you have to be lucky to have everything fall your way.
There is a lot of change as a lot of different things happen to finance.
How often do folk scaling realise systems aren’t good enough?
Classic process optimisation means you can break it down. There is such a cultural component to this. Is everyone clear on the simple mission of the company? And what role each has to achieve that? That’s critical to truly being able to scale.
Kevin adds importantly to what David says by pointing out: you have to think like a business of the size you want to reach. The systems you put in now will fit your company when you get where you want to be.
What metrics are key from CFO’s point of view?
Each one is different at a different stage. David indicates towards using your resources around you like mentors and advisors as no one can do it all themselves. Someone will have been where you are and worked their way through it.
David discusses 3 metrics:
Velocity. This is the pace your going at. You could calculate it by using your revenue growth or your net dollar retention. There are many ways of calculating this but investors want transparency. Profitability. You need to look at what your customer acquisition cost is. An understanding of the lifetime value of a customer is vital. Capital efficiency. You want to know how much money you are bringing in against how much it is costing you. What is your net new ARR (Annual Recurring Revenue) divided by your net burn?
What Sage does
David works for the successful company Sage, majoring in the Intacct Product. He briefly tells us the benefits of using them which include:
Helping you through the stages you will go through and helps you close.
Not only do they help you close, it will be a quick close, possibly as quick as 5 days.
Find out more about GrowCFO
If you enjoyed this podcast you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google podcasts and many others. Why not subscribe there today? That way you never miss an episode.
GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and take part in our regular networking events and webinars...
Kevin Appleby is joined by Chris Tredwell to discuss this years GrowCFO finance systems survey and how the results will help them structure future sessions.
The finance systems survey
Chris explains what the survey's purpose is and the benefits using it brings. He touched on an area of benefits that hearing the results from peers or the people who actually use the systems bring.
It brings to light what people think about the finance systems they use. This helps GrowCFO to structure their sessions and become more adapted to what people are actually using.
Last and this year's finance system surveys
There was a lot of continuity in the results, Chris explains. However, due to the events of the past 12 months some questions were more suited to how you had adapted to working in the pandemic.
There is still miseducation among people as to what their finance systems can do as some responses were contradictory. Chris shows us how this can be helpful as fellow peers can help improve each other's knowledge of the same system.
increased systems footpring better represented situatuin riim
Finance systems that increased footprint
Kevin and Chris explore what finance systems have increased their footprint over the last year. Chris indicates that there has been shifts towards finance systems such as Cloud.
Despite the large changes of last year, most people were still able to use the same finance system that they were using before, remotely. Only some of these people had to slightly modify these systems.
We hear from Chris about the new intel on Unit Four as more people are using it, in comparison to last year. Alternatively, he discusses a recurring name from last year, the finance system Zero. The responses indicate this is used more frequently by start-up businesses to facilitate their early stages.
How GrowCFO uses the finance survey to help
Every Tuesday at midday GrowCFO holds a Future of Finance session. Chris tells you some topics that will be covered in coming weeks; Cloud, integrations and where roles are likely to be based.
This is due to most saying they will not work solely from home or remotely. This leads to people deciding whether to train or hire people for their finance team. Due to the results, you will see more advice on how to hire the right staff.
Chris also suggests that GrowCFO will be focusing on period end close and management packs as these were areas where the time spent was highly varied. This is a continuing issue despite improving technology.
Chris also touches upon this as to why people feel they don't make the changes to the system that would improve this. GrowCFO looks to help people counter the issues they face such as they don't believe it will be a quick fix or fix anything in the long run.
All Future of Finance sessions are recorded and featured on the website.
New integrations and innovations
Chris tells you what new players and integrators they want to look at. He lists; business intelligence, OCR, robotic process automation and ground workflows. These are all things that people wanted to tighten in their business.
Find out more about GrowCFO
If you enjoyed this podcast you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google podcasts and many others. Why not subscribe there today? That way you never miss an episode.
GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and take part in our regular networking events and webinars.
Premium members also have access to our extensive training centre. Here you can enrol in our flagship Future CFO or Finance Leader programmes.
You can find out more and join today at growcfo.net
Change is an important part of the CFO role. Change is a big part of a transaction, a business restructure or a systems implementation. The CFO is involved in leading all three. We look at each of these in this weeks podcast. The CFO's role in business change can't be underestimated, the CFO is a catalyst for change.
GrowCFO's future of finance functions group meets every Tuesday over Zoom. I'm looking at Change and specifically how it relates to finance transformation on the last Tuesday of every month.
The CFO's role in business change is covered as one of the core competencies of the CFO. The CFO as a catalyst of business change forms a key element of the GrowCFO competency framework.
The CFO's role in business change is in 3 areas
The transaction, after a merger or acquisition, or before a divestmentSystems project, putting new IT into finance or the wider businessDriving a step change in performance, reshaping the business model
The transaction
As CFO you will have a major involvement in any transaction and a key part in making it happen. After the transaction you need to be involved in the business change:
After a merger or acquisition you need to drive integration of the new business, particularly in the back officeBefore a divestment you need to make sure the bit of the business you are selling is properly decoupled, and there's no ongoing dependency for systems and processes with the parts of the business you are retaining
Step change in performance
The CFO is at the heart of driving business performance. As CFO, its you job to look for opportunities to improve the bottom line. The CFO's role in business change could involve you in one or more of the following:
A business restructureCost reduction, reducing the cost base of the businessDriving a Zero Based Budget. To direct spend to the key business objectives you and your C Suite colleagues are committed, and eliminate spend that isn't focussed on these.
You have a key role in decisions concerning pricing and product mix. You need to know which customers and products are profitable and which are not. The CFO view of the best parts of the business might be very different from the sales and marketing view. So, you need to:
Understand the economic engine, not the P&L accountKnow which products & services drive cost. High margin might look attractive to the sales team, but if the product is low volume and there are lots of demands on customer service time then the overall contribution might be negative.
Systems project
You have an important role leading business change in a systems project. This might include:
A Finance Transformation. Most finance functions have big scope to modernise and automate. Finance is your home turf. You need to get change right in finance to be trusted with change in the wider business.Wider business change, which will nearly always impact you and your finance team
Delivering business benefits rarely comes from system changes, it more likely comes from changes relating to people and process that surround the system. People change is the hardest part.
As CFO you have a vital role in people change. Leading change is all about leading people through the change process.
Learning more about the CFO's role in business change
If you want to deliver a successful business transformation then you need to understand how to lead change. John P Kotter outlines an 8 step process in his book Leading change
The sessions I'm leading each month for GrowCFO's future of finance functions group is exploring the Kotter 8 step process. One step at each month's session.
Dr Kotter cultivated the 8-Step Process for Leading Change from over four decades observations of countless leaders and organizations as they were trying to transform or execute their strategies. He identified and extracted the success factors and combined them into a methodology, the award-winning 8-Step Process for Leading C...
The CFO and CEO's roles have an important relationship. On this episode of the GrowCFO Show Kevin Appleby looks closer at this relationship with Richard Medcalf, founder of Xquadrant . Richard is a mentor to CEOs and tells you how the CFO should work with the CEO and also how to make the jump from the CFO role to the CEO one.
About Richard Medcalf
Richard studied at the University of Oxford and is now a leadership strategist to top tech CEOs. He is the founder and CEO of Xquadrant.
Imposter syndrome and the CFO and CEO relationship
Imposter syndrome is where you may feel out of place in your new role, or as though you don't know how you have ended up with it. Richard explains how this shows that you are developing and learning.
CFOs and CEOs are both senior positions meaning that you will be playing a bigger game. You will constantly be experimenting as to what will work best for you.
Richard importantly states that "there is no learning in the comfort zone, and no comfort in the learning zone".
The ways the CFO and CEO should work together
Richard expands on how the CFO should be the CEO's right hand. He describes how the CFO should make the CEO's case for change by using the numbers to back it up but then give a further insight to the executive and the board as to what the numbers mean.
CEOs look forward for goals that will improve the business. This means, a CFO cannot be completely focused on the last quarter, but also what should happen in the next.
The CFO's and CEO's need for time balance
CFOs and CEOs both need a high level of skill in time management. Richard covers how you need not only to be focused on projects and execute them to a high level, but also to have time for strategic activity.
If you do not time manage and are not involved, it can hinder your progression in that role. Reliability to answer questions about your section of the business is important and this means you have to have time balance so you can have that availability.
The jump from CFO to CEO
Richard and Kevin discuss ways to make this jump;
One is to make sure you are doing more than what is required of an average CFO. This includes taking a larger interest in all the sections of the business as this is a key role of the CEO.
Secondly, you have to be big on vision. The CEO looks forward and looks at what the company wants to be. The CFO often looks at what has previously happened, so there has to be a balance of looking forward but also seeing what has worked in the past.
Lastly, you need to be ready to leave numbers behind. It is a new role,so don't try and be a better CFO than yours. You will be expected to be well-rounded and have expertise in all areas, not only finance.
How can a CFO build business relevance:
Richard discusses this in two parts;
He looks into why you shouldn't look to wow with your finance skills, show your business skills. You need to add perspectives and not only see the business from a finance point of view. Also look commercially at what risks would be beneficial to take.
Richard then delves into why you should not only have a financial plan but also a plan for finance. This will help you to uplevel your finance function which, if you can't do, you won't be able to do for the rest of the business.
Richard's website
Richard's website has many complementary features to GrowCFO's lessons. It includes things such as the kryptonite test which will highlight your teams' weaknesses and areas that need management. The CFO can also utilise this as it can see what impact finance wants to make on the business.
You can also find an executive productivity assessment. This will show your benchmark and how you are doing. It will also help with time balance as you can see the least prioritised areas for work.
Find out more about GrowCFO
If you enjoyed this podcast you can subscribe to the GrowCFO Show with your favourite podcast app.
Great communication is a vital part of the CFO's brief. Using the right language is often the difference between good and great communication. On this episode of the GrowCFO Show Kevin Appleby discusses the power of language with Susana Serrano-Davey. Susana tells us about the many ways the right language can make a difference. The right language is vital to communicate to a team or individual effectively.
Susana expands on the ways we can adapt our language and how this adaptation can lead to better results.
About Susana
Susana is a GrowCFO mentor. She is also an executive director with international experience in commercial finance, business transformation, commercial management, FP&A, financial control and audit.
Be mindful to use the right language
Susana discusses how we need to be aware of our environment to give the most effective message. This means we need to use the right language for that situation.
When we meet different people our language has to adapt so we can communicate with them in the right way so our message comes across the way we intend it to. Just a few words can make a large difference on how the sentence is received.
Right language is needed so you don’t reflect our emotions in what you are saying. Using a word like ‘always’ can add layers of frustration and alter how the sentence is received.
Why do we need to change our language to the right language?
Susana dives into how things such as culture can have an impact on the way we communicate, for example, differing nationalities can also lead to different attitudes but also accents can make us sound more or less aggressive.
This means we have to identify factors on what we ourselves need to work on to be able to communicate most effectively. This may mean adapting words that we say but also how we say it.
Talking from the other person's perspective
You will hear Susana explain how being aware of how other people perceive you is vital for good communication. The way people perceive you will determine how they respond to what you are telling them. Specific words will change the impression your sentence leaves, whether it shows you are being aggressive or feeling frustrated.
It is also important to understand that the impression you leave does not only come from what you say but also how you say it as this creates an atmosphere. Susana discusses how being impatient can give an atmosphere that will not lead to the person you are speaking to work at their best. This is why you need to understand the impression you give and use the right language to get people to work with you.
How do cultural differences affect right language?
Susana illustrates how the right language can mean different things in different countries and cultures. She talks about the difference in attitudes to giving your boss feedback in Spain. This is where it is considered less acceptable to challenge your superiors.
She tells the story of returning to her native Spain after working in the UK and finding it odd that her direct reports were so reluctant to give their opinions.
Why do you need the right language to give feedback?
You need to see how context can affect the feedback you give. You need to see how the negative can be seen in a different perspective like how, if it was resolved, it would lead to more opportunities.
Going further into this, Susana explains how this can vary from giving feedback to an individual as opposed to a group setting, where you need to be more careful as there is more room for misunderstanding due to a less tailored message.
Find out more about GrowCFO
If you enjoyed this podcast you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google podcasts and many others. Why not subscribe there today? That way you never miss an episode.
GrowCFO is a great place to extend your professional network.
Hugh Watchorn is the latest member of GrowCFO's mentoring team. Hugh brings with him a wealth of experience, and he's passionate about passing it on to the next generation of finance leaders. Kevin Appleby catches up with Hugh on this week's GrowCFO show and finds that its a combination of business and people that keeps him motivated. Listen to the audio recording and find out more.
About Hugh Watchorn
Hugh spent 15 years as CFO of Bonhams. Bonhams is a privately owned British auction house. It is one of the world's oldest and largest auctioneers of fine art and antiques. The Bonhams name is recognized worldwide throughout all sectors of the fine art, antiques and collectors market. Several of its departments are established world leaders within their specialist category.
Hugh's passion for both business and people is clear from his time at Bonhams. He talked to me about growing the business. A merger with Phillips followed by acquisition of other businesses. He also talked about the fascinating people he got to work with.
Hugh's mentoring experience
Hugh is passionate about business and people. This is why he took up mentoring. He is a former mentor in the ICAEW F-TEN programme. F-TEN® is a unique business leadership, mentoring and peer-to-peer network programme designed for ambitious senior finance professionals who are one or two career stages away from a group CFO or equivalent-level role. Hugh Watchorn now brings all this experience with him to GrowCFO's mentoring programme
His passion for business and people
I delved deeper into Hugh's passion for both business and people. He has already had a long and successful career. Hugh could easily retire and just watch cricket. Instead, Hugh remains highly motivated. He is no longer working as a full time CFO, but he is still involved in a number of businesses. He is a portfolio CFO and has a number of non executive roles. His current project is supporting Prestige Pawnbrokers as part time finance director.
We went on to talk about communication. Hugh believes that it is communication skills that set the good CFOs apart. We also discussed charisma. The really great communicator is also a charismatic character. I asked Hugh if charisma is a quality that you can teach. His answer was very interesting. Listen in and find out what Hugh thinks.
Find out more about GrowCFO
If you enjoyed this podcast you can subscribe to the GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google podcasts and many others. Why not subscribe there today? That way you never miss an episode.
GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and take part in our regular networking events and webinars.
Premium members also have access to our extensive training centre. Here you can enrol in our flagship Future CFO or Finance Leader programmes.
You can find out more and join today at growcfo.net
GrowCFO mentor Catherine Clark often finds assertiveness to be an issue when she is helping aspiring and new CFOs. She tells Kevin Appleby why that is and what you can do to be more assertive.
Catherine and Susana Serrano-Davey recently covered assertiveness in the GrowCFO Women Finance Leaders group and on this episode of the GrowCFO Show she shares the key messages from that session
Why do some CFOs find it difficult to be assertive?
Catherine believes that the rout cause of a lack of assertiveness is closely tied in to a lack of confidence and to imposter syndrome. We covered imposter syndrome in Episode 15 of the GrowCFO show
Often the new CXFO hasn't risen to be co-pilot to the CFO, instead one of the other c-suite members is first among equals on the board and has more influence both in the room and with the CFO.
A new CFO may feel unworthy because she is underpaid, and does not feel on an equal footing with the rest of the leadership team.
What can you do to be more assertive?
We discuss a number of things you can do to become more confident and more assertive. These include:
Improve the quality of relationships, take time to get to know people better and understand their problemsMake time to think and reflect, often there's more than one way to approach the situation and you need the right game planUnderstand the other persons viewpoint, find out the root cause. Often the immediate issue you are addressing isn't the route cause to their resistanceYou can't change the other person, but you can change your own behaviour. If you keep approaching things the same way and don't get results then doing more of the same rarely works.
The DEAR technique to be more assertive
Catherine has an interesting model to help you be more assertive. There are 4 parts to the request you want to assert
D = Describe the situation
Start by describing the situation as you see it to the other person. "It appears that....."
E = Express your feelings
Next, bring emotion into the conversation. "This makes me feel.........
A = Assert your belief need or want.
Make sure there's an action. Not a place to say sorry. Be clear what you need from the other person. "I would appreciate you doing......"
R= Reinforce other person
Let them know you appreciate them. A thank you in advance is a great way of getting the action you want.
Find out more about GrowCFO
If you enjoyed this podcast you can subscribe to the GrowCFO Show with your favourite podcast app. The show is listed in the Apple podcast directory, Google podcasts and many others.
GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and take part in our regular networking events and webinars.
Premium members also have access to our extensive training centre. Here you can enrol in our flagship Future CFO or Finance Leader programmes.
You can find out more and join today at growcfo.net
Mike Whitmire is CEO and founder of FloQast. He's based in Los Angeles and is a CPA turned Entrepreneur. Mike loves building software that helps accountants go home early. Mike and Kevin catch up to find out how you can use technology to improve the culture in your finance function.
About Mike Whitmire
Mike founded FloQast in 2015, but it isn't the first venture he's been part of. He was previously senior accountant at Cornerstone OnDemand during their successful IPO. His earlier background is at Ernst & Young where he started as an auditor and specialised in working with media companies in the LA area. Kevin thinks this was a ploy to get himself on screen in some major production or other!
What is FloQast?
FloQast is the leading provider of accounting workflow automation created by accountants for accountants to work smarter, not harder. By automating common accounting workflows and helping to streamline and make them more efficient, FloQast is the place where accounting teams want to work so they can focus on what matters most, even when that’s just going home on time.
What does Mike Whitmire look for in a CFO?
FloQast are currently recruiting a CFO to work alongside Mik. I asked Mike what he thought made a good CFO and what skills he's looking for. He gave me a great insight. Mike recognises 3 types of CFO, all of which are good. He wants one particular type. Listen in and find out why?
Technology driving culture
Mike Whitmire is passionate about people, and believes technology needs to support the workforce and make people feel part of the team. He understands that millennials really want to know how they fit into the big picture. Having an engaged workforce is important, and creating a great team and culture are core parts of this. FloQast introduces a transparency into the finance team, everyone sees what everyone else is doing and it introduces a new dynamic. Peer pressure! Mike explains this in far more detail in the audio recording.
Find out more about GrowCFO
If you enjoyed this podcast you can subscribe to the GrowCFO Show with your favourite podcast app. The show is listed in the Apple podcast directory, Google podcasts and many others.
GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and take part in our regular networking events and webinars.
Premium members also have access to our extensive training centre. Here you can enrol in our flagship Future CFO or Finance Leader programmes.
You can find out more and join today at growcfo.net
Do you feel that you are delivering your full potential within your finance leader role? During this week's episode of The GrowCFO Show, I talk to GrowCFO's Founder and CEO Dan Wells. Dan explains how your CFO Programme will help you to maximise your performance within your finance leader role.
What is the CFO Programme?
The CFO programme is a blend of workshops, self assessment, and online learning. This programme will take you from being a back office function leader to becoming the co-pilot to your CEO.
There are two elements to the programme as described below:
Nine group mentoring sessions lasting 90 minutes covering our nine modules over a six-month period. We deliver these online with a maximum of six people. Each session is run by an experienced CFO and professional mentor, with additional input from other CFOs and also CEOs. During these sessions, you will also build up a strong peer group buddy support network.Six months of one-to-one executive mentoring support from an experienced CFO, with flexible timing. Each session lasts for 90 minutes, including a bonus up-front strategy session. You will also get ad hoc support during this period. In addition, you will benefit from a strengths assessment, workbooks and tools to support your mentoring journey.
What are the key activities in the CFO Programme ?
There are three key topics within the programme:
Catalyst for Change helps you to transform your team into an essential business function that creates value and transforms operations.Strategic Business Partner supports you to deliver data-driven strategic insights to challenge the Board, influence strategy and drive key decision-making.Inspirational leader will develop you into an externally-facing leader, a vital Board member and the co-pilot to your CEO.
We’ve broken down each of the three sections into three modules, giving nine modules in total. You can find out more and take your first steps to join the programme here:
Here is a diagram that provides an overview of your nine modules:
What will you achieve?
Our CFO Programme will help you to:
Discover and work with your areas of strength and development objectives;Determine ways to overcome any barriers to your success;Provide different perspectives when thinking through issues; andImprove your knowledge and confidence to maximise your performance.
Mentoring is a great way of supporting your development and personal growth by ‘stretching’ you, helping you to move out of your comfort zone and closer to your full potential.
Who is the CFO Programme designed for?
Our CFO Programme will appeal to passionate finance leaders who are keen to develop a well-respected finance function that provides vital support, influence and value creation across your business.
To qualify, you should be leading a finance function and reporting into the board. For example, acting as the CFO, Head of Finance, Finance Director, VP of Finance). You may be fairly new into the role or still learning the traits of becoming a successful CFO. Participants understand the importance of investing time to help achieve your full potential.
Alongside your peers, you will become the best version of yourself and act as a positive role model who challenges the status quo. You will also learn how to develop a mindset for success, whilst living by your values and demonstrating a willingness to expand your perspectives.
Who leads the CFO programme?
All activities are led by an experienced CFO and professional mentor.
Our mentors are experienced CFOs who have made the journey before, conquering the challenges that our mentees will face. Think of us as your motivator, sounding board and biggest supporter – your number one career buddy!
The programme will also feature various guests who can provide additional perspectives across several of the workshop modules.
How long does the CFO Programme last?
Iain Nairn is an experienced insolvency practitioner. In this episode of the GrowCFO Show I chatted to Iain about the role of the insolvency practitioner. Why and when and why a company should call on his services? We also took a look at the state of the economy following Covid-19. We discussed how great the negative impact on business actually is. Listen to the podcast to find out more.
About Iain Nairn
Iain Nairn started his career in corporate recovery and insolvency. He has also been a finance director, an business development manager and an investment manager. He now heads up the team in North East England for Leonord Curtis Business Solutions Group.
Iain is an accomplished sportsman. He is very proud to have been captain of the England Physically Disabled Cricket team. Iain lead them to victory in the inaugural multinational cricket tournament for people with disabilities in 2015. The team then went on to win the World Series in 2019.
When might you use an insolvency practitioner?
If your company is experiencing financial distress, you may be considering appointing the services of an insolvency practitioner. The insolvency practitioner will help you navigate your current situation. For most CFOs its unlikely you have dealt with an insolvency practitioner before. You may be unsure exactly what they do. An insolvency practitioner can add a lot to your business if engaged at the right time. During the early stages of financial distress the role might be vital to saving your business.
What is an insolvency practitioner?
An insolvency practitioner is someone who is licensed to act on behalf of companies and individuals. He will act when they are facing insolvency or acute financial distress. Practitioners are also able to help directors of solvent companies who have chosen to liquidate their company.
In the majority of cases, a company director will voluntarily approach an insolvency practitioner. In matters of compulsory liquidation, the courts will appoint an Official Receiver who will act as the provisional liquidator. They may later request that an insolvency practitioner be appointed to take the liquidation forward.
Is an insolvency practitioner the same as a liquidator?
A liquidator is one of a variety of roles an insolvency practitioner assumes. The role depends on the case they have been appointed to deal with. In matters concerning limited companies, the three main roles an IP will undertake are as follows:
Liquidator – Acting as a liquidator in both solvent and insolvent company liquidations. The insolvency practitioner’s role here is to realise company assets and ensure these are distributed appropriately to creditors. In insolvent liquidations such as Creditors’ Voluntary Liquidations, creditors typically comprise of suppliers, banks, and other lenders. In an MVL, which is the liquidation of a solvent company, directors and shareholders are often in line to receive the proceeds.Administrator – An insolvency practitioner will be appointed the administrator of a company in both administration and pre-pack administration cases. They will work to realise a better outcome for creditors. This is through arranging a sale of the company or facilitating an ordered shutdown of the business.Nominee and Supervisor – In Company Voluntary Arrangements an insolvency practitioner will take on the dual roles of nominee and supervisor. They will first act as a ‘nominee’ and will be responsible for putting together a viable proposal for the CVA. A Statement of Affairs (SOA) will be produced. Creditors will be informed how much they could expect to receive should the CVA be implemented. Once the CVA has been passed by creditors, the insolvency practitioner will become ‘supervisor’ of the agreement. He will oversee matters throughout the duration of the CVA. The ongoing performance of the business will be monitored to ensure the company remains on track to complete the CVA.
Catherine Clark leads GrowCFO's mentoring team. One thing Catherine discusses regularly with her CFO mentees is how to create more thinking time. Finding the space to think is so important in so many areas. In particular thinking time impacts the quality of the decisions you make.
So in this episode of the GrowCFO Show we're going to talk about decision making and lack of thinking time:
Why is thinking time important for you as a CFO what can you do to increase your perspective and enhance your performanceHow can you reduce the stress that comes with lack of time to think things through.
What are the main issues Catherine explores with her mentees?
The lack of thinking time comes up under a number of different guises. The main issues that Catherine explores include:
Proving you can think and act strategically as a leaderBalancing the day to day with strategic focusBeing stuck in the weeds and unable to see the bigger pictureA struggle to communicate succinctly
The good news is that there's plenty you can do to better equip yourself. Lets take a look in more detail.
Why is thinking time important?
Clarity of thought gives you a wider perspective. It reduces overwhelm, and allows you to focus on what matters.
You need to make smarter decisions. The right decision is critical particularly in times of change. You can add greatest value to the business by making more of the right decisions. Doing more of the day to day rarely adds value.
You are likely finding yourself in a period of huge change. The last 12 months has seen many businesses rethink the way they operate. Its often been a financial imperative so the business survives, and you the CFO have been more involved than ever before in the new ways of doing business.
Not only is your business model changing, so too are customer expectations. Your relationship with employees and how they work has changed, and will likely change again in the new normal. Ongoing change will mean you need to continually adapt your business strategy. You will need to make critical decisions quickly.
Pressure to perform impacts thinking time
Some pressure is good for you, focussing your mind. This motivates you to take action. Too much pressure can do the exact opposite. Too many hours leads to a drop in performance. This pressure will impair attention, your ability to multi task and your ability to think clearly. Your decision making ability suffers.
Stress narrows your focus and perspective. The fight or flight instinct kicks in. Everything looks worse than it is. You forget the resources you have at your disposal and the possibilities available to you.
Catherine finds that this is the key area most people need to focus on. Catherine and I explore this in much more depth in the audio recording and give a number of strategies you can use to both reduce stress and create space. Listen in to find out more.
Find out more about GrowCFO
If you enjoyed this podcast you can subscribe to the GrowCFO Show with your favourite podcast app. The show is listed in the Apple podcast directory, Google podcasts and many others.
GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and take part in our regular networking events and webinars.
Premium members also have access to our extensive training centre. Here you can enrol in our flagship Future CFO or Finance Leader programmes.
You can find out more and join today at growcfo.net
Susana Serrano-Davey is an experienced finance leader, mentor and coach. She even ran her own business for a while. Susana is joining the mentoring team we have here at GrowCFO. On this podcast I catch up with Susana to find out more about her. I also asked her "What makes a good finance leader?"
About Susana Serrano-Davey
Susana is a Spanish national, and currently lives in Marbella on the Costa Del Sol. She is a Chartered Accountant and a PwC alumni. Her experience includes roles in financial control at Tui Travel and CFO at Cash Converters Espana. You can find out more on LinkedIn.
What makes a good finance leader?
Susana has been, and still is, a CFO. She has worked with many senior finance people. She mentors both business leaders and finance leaders. Who better to ask "What makes a good finance leader?"
Naturally, Susana gave me some good answers. Her initial take was around what makes you the CFO special:
Pursue your own authenticity and build on what you have.Don't be afraid to bring skills that aren't on the traditional list of finance leader skillsUnderstand who you are in addition to all the training you have. This will help you to shine
A good finance leader knows his strengths and plays to these. You will know things you are weak at, and you need to recognise these. Theres nothing wrong with delegating or outsourcing things you don't like doing or aren't strong at. Even core finance skills. The GrowCFO competency framework identifies 45 areas. You can't be equally strong in all 45, that's just about impossible.
If you are weak at something you might develop yourself and become mediocre. On the other hand, if you are strong at something and like doing it you can develop yourself to mastery. Which is the better use of your own limited personal development time?
What makes a good team leader?
Can a finance leader be good without being a good team leader? Susana thinks not. You need to invest time in your team. What makes a good finance leader be a good team leader?
Susana gave us some pointers:
understand their strengths and weaknessesDifficult to do when the typical CFO has back to back meetings and a never ending to do list.Don't believe you have all the answers. Listen to your team, they often know what's going on better than you do. Have a vision, but be prepared to modify this. Take your team on a journey, as long as you are moving forward you don't need to worry too much about the ultimate destination.Be aware of your personal style, and be aware of the culture of your team or organisation. You can't change your personality but you can tone certain things down where necessary.
What makes a good finance leader a good co-pilot for the CEO?
To be a great CFO you need a first class relationship with your CEO. You need to be a true business partner with the CEO. This means going well beyond just looking after the financial numbers. It means going further than just giving a finance perspective on things.
A great CFO will understand the business, and will bring commercial insight along with his finance skills. You will need to compliment the skills the CFO has, so that your joint skills are rounded.
We discussed how you build this commercial acumen. Susana has some great insights, and to find out more then listen to the audio recording of the full show.
Find out more about GrowCFO
If you enjoyed this podcast you can subscribe to the GrowCFO Show with your favourite podcast app. The show is listed in the Apple podcast directory, Google podcasts and many others.
GrowCFO is a great place to extend your professional network. You can join GrowCFO as a free member today and take part in our regular networking events and webinars.
Premium members also have access to our extensive training centre. Here you can enrol in our flagship Future CFO or Finance Leader programmes.
You can find out more and join today at growcfo.net
Abu Ali is a partner in a Newcastle based corporate finance boutique, WilliamsAli. He provides strategic M&A and funding advice to business owners and investors.
Abu joins Kevin Appleby on the GrowCFO Show to explain the role of a corporate finance advisor, and the value that working with an external specialist can bring to your business.
About Abu Ali
Abu Ali qualified as a Chartered Accountant with Teeside based Clive Owen & Co. He soon left the world of audit to pursue a career in corporate finance. He gained his initial experience with Ryecroft Glenton Corporate Finance before moving on to become a director at Baldwins.
Running is own practice was always Abu's ambition, and in early 2019 he became one of the founders of Leathers Corporate Finance. In April 2020 Abu and his partner Phil Williams exercised an option to complete the buy-out of Leathers Corporate Finance. This included a full rebrand to Williams Ali and relocation to new offices within Newcastle.
WilliamsAli offers a focused, high quality service to help businesses and their shareholders realise their ambitions. The team has extensive deal experience acquired over many years. They take a leading role in transactions. These include business sales, MBOs, acquisitions, private equity transactions and fundraising.
What is Corporate Finance?
Corporate finance includes a wide range of activities. Abu talked through the variety of activities he supports. He advises a variety of different people. These include:
Shareholders on the sale of their business.Management teams on Management Buy-Outs.Acquirers on the identification and purchase of acquisition targets.Business owners on company valuations.
Abu tells us that it's not just about giving advice. There are many more practical activities he gets involved in. These include:
Helping business owners prepare their business for an exit.Helping entrepreneurs prepare business plans to attract the funding needed to start up or develop their existing business. This might be in the form of equity, debt or grant funding.Assisting companies in defining and documenting their corporate and growth strategy.
Who is corporate finance for?
Raising funds for clients is a major part of Abu's role. But Abu doesn't just work with businesses that need to find funding. Some of his clients are very well funded. Clients may be looking to make acquisitions, and have funds available. Identifying the right acquisition becomes the challenge.
Abu spends about half his time helping businesses to sell. People typically don't know what their business is worth . They also don't understand the process of selling and need help. Working with these clients Abu becomes an extension of the management team. He often takes a project management role from start to finish of the transaction.
How do you find a buyer for your business?
You can't put a "for sale" sign up outside your business. Selling can often be a covert process to maintain confidentiality. Abu often finds that its necessary to make sure staff, customers and suppliers don't know a business is for sale until the right time in the process. Often the right time might be when the deal has been done.
Research is very important. Abu will spend a lot of time identifying potential buyers and developing a short list. To do this Abu needs to be well networked, and able to talk to his network about any opportunity he has with discretion.
The network that Abu has built is different from one you would typically build as a CFO. This is one reason why a business with a very strong CFO might still engage a corporate finance advisor.
Find out more about GrowCFO
If you enjoyed this podcast you can subscribe to the GrowCFO Show with your favourite podcast app. The show is listed in the Apple podcast directory, Google podcasts and many others.
GrowCFO is a great place to extend your professional network.
Ajmal Mian and Kevin Appleby discuss the future of the high street and the impact this will have on the CFO on the GrowCFO show
Paul McKoen is a very experienced CFO. His career has given him experience in a number of industries and includes just about every aspect of the CFO role. We talk through Paul's career, and highlight a some interesting experiences of the CFO needing to make an impact very quickly in a new CFO role.
Paul talks about the times where a fresh pair of eyes and some cross-industry experience made a real difference to his new employer. It's quite a journey!
Paul McKoen qualified at the Ford Motor Company
Paul started his career at Ford where he gained his CIMA qualification and spent 11 years in finance, including an overseas role in Cologne. During this period, Paul worked his way up to middle-management grade.
Paul experienced first-hand the huge impact of the introduction of technology solutions and the evolving effect that this can have on the finance role.
The vast majority of Paul's experience has been on-the-job training. For example, learning from bosses, peers and other role models.
Paul has experienced many new CFO roles
During his career, Paul has experienced many new CFO roles and Finance Director roles. These include divisional roles at Serco, Vertex/United Utilities and Balfour Beatty.
Paul has also performed group CFO roles at Tradaq, B&M Retail, Value Retailer and Silentnight Group.
Within these roles, Paul achieved many milestones such as delivering fundraising, acquisitions and successful company exits.
Adding value within a new CFO role
During one of Paul's new CFO roles, he supported the CEO to determine why they were losing too many bids to competitors. This involving challenging the business and providing a new set of eyes regarding what was actually happening.
For example, Paul carefully reviewed the assumptions being applied towards costing analysis and pricing. Accordingly, Paul identified a flaw in their assumptions that significantly reduced their pricing going forward.
In summary, don't be afraid to ask the obvious questions and to challenge the answers provided.
Making an impact in a new CFO role
Paul previously took on an interim CFO to support a fundraising process. The investors had challenged management due to concerns that their profit forecast was overstated by £3 million.
Paul compared the sales forecast figures to the actual figures during the previous few years.
Accordingly, he identified that the sales team were over-forecasting sales numbers by £10m. Applying a 30% margin resulted in a profit overstatement of £3m.
This is a good example of how you can gain strong experience very quickly within a new interim CFO role.
How to approach a new CFO role
During your first 100 days, CFOs will have an up-front honeymoon period. This provides you with a fantastic one-off opportunity to spend lots of time with people and to ask the stupid questions.
You are likely to identify some quick easy wins during these discussions to make an early positive impact within your new CFO role.
GrowCFO's Future CFO Programme covers how to approach a new CFO role within Module 9 called Your first 100 days.
Paul has a strong example of this from one of his previous new CFO roles. He spent the first few weeks asking everybody what does and doesn't work. His findings identified various outdated strategies that were now causing a negative impact within the business. These insights allowed the business to adjust their approach and double sales during the next few years. This is a great example that shows the benefits of providing a fresh challenge within a business.
Helping the next generation
In summary, Paul has had an incredible range of experience during his career. He is keen to share these with the next generation of finance leaders to pass on the key learnings from his many successes.
In addition, Paul has learnt how to solve problems effectively and has developed techniques to help him to relate to other people.
GrowCFO have created a CFO Competency Framework that covers the key skills required to become an effective finance leader. This is rapidly becoming the global toolkit to help finance leaders benchmark your skills and competencies against your peer group. It also acts as a CFO Readiness Toolkit to help the next generation of aspiring CFOs.
During this podcast episode, Dan Wells and Kevin Appleby discuss the purpose of the CFO Competency Framework. In addition, we discuss how it is helping so many finance leaders to accelerate their learning and development.
CFO Competency Framework purpose
GrowCFO noticed that there was a huge gap in the finance leader ecosystem. Nobody had previously produced a global competency framework to help finance leaders benchmark their existing skills against those required to become a CFO.
Senior finance professionals were struggling to identify their skills gaps and to prioritise their most important learning and development objectives. As many people say, “You don’t know what you don’t know!”
Our CFO Competency Framework is designed to deliver many important purposes.
Identify the skills gaps to be addressed by the next generation of finance leaders.Assist CFO job applicant to become a self-aware candidate with a proper development plan.Help first-time CFOs to become more impactful within your role.Highlight opportunities for the CFO to create value and achieve your company’s vision.Determine the difference between the CFO role versus Finance Director or Head of Finance.Filter GrowCFO’s activities to help experienced CFOs to fulfil your annual CPD requirements.Map your competency assessment ratings into online courses, lessons and workshops.Benchmark your competency levels against your most relevant finance leader peer group.
It is no surprise that many finance leaders are already using the GrowCFO Competency Framework to accelerate your career progression.
How did we build the CFO Competency Framework?
GrowCFO has a huge network of aspiring finance leaders, first-time CFOs, experienced CFOs, CEOs, Chairs, NEDs, other C-Suite members, advisors, investors and recruiters. We held focus groups with representatives from these communities to determine the required competencies for the modern-day CFO.
GrowCFO also consulted with a huge number of GrowCFO’s members to obtain people’s views and feedback. We worked with technology experts, graphic designed and programme developers to build a market-leading digital CFO Competency Framework that operates on a self-serve basis.
Following this, we engaged inspirational CFOs to create a huge number of competency lessons that are located within our world-class learning management system. We have mapped each of our CFO competencies into online training courses and regular workshops. This allows finance leaders to efficiently generate your tailored learning and development plan to further develop your skills and to address your biggest challenges.
How is the CFO Competency Framework structured?
Our CFO Competency Framework contains three categories: Foundation, Implementation and Impact. These help you to preserve value, create value and maximise value throughout your role.
Each category comprises of three competencies, giving a total of nine competencies across the framework. These competencies are inter-connected and you will often be using many of these concurrently.
Each competency contains five different skills. Therefore, the GrowCFO Competency Framework contains a total of 45 skills that are relevant to a typical modern-day CFO.
There is a lot for finance leaders to master and our framework will constantly evolve over time, in line with the ongoing evolution of the CFO role.
Foundation category
The Foundation category contains three competencies: Governance and Control, Operational driver and Financial Planning & Analysis.
These three competencies form the foundation for your future...
Tanbir Jasimuddin shares his experience of digital finance. Tanbir and his team at family law firm Vardags have recently won an award. Transformer of the year at the Generation CFO Digital Finance Function Awards. He is also an author of white papers for the FP&A trends group.
About Tanbir Jasimuddin
Tanbir graduated with a chemistry degree and qualified as an accountant, then moved into management consulting (Capgemini, KPMG and then McKinsey). He's now back on the coal face. Tanbir is currently the Director of Finance of a small family law firm called Vardags.
How is the family law business at the moment?
Business has been tough as we navigate Covid. For some reason, there’s a reluctance among the general population to initiate divorce proceedings whilst locked down. However we are optimistic that there will be a strong bounce back. The firm has big growth plans, and 2020 will simply be a small blip on the chart.
The Vardags digital finance team
Tanbir leads a small finance team at Vardags. Its quite a young and relatively inexperienced team but the people are very bright. They are mostly high calibre graduates and several are studying for CIMA qualifications. They were winners of the Generation CFO digital finance function awards last month
Tanbir has transformed finance at Vardags. His challenge is to take away the routine and repetitive tasks from his team and free them up to do more value adding and challenging work. They are an ambitious bunch and Tanbir needs to give them all career paths that can keep them engaged and grow their skills.
Developing digital finance
The transformation brought together activity analysis, process improvement and automation. Power BI has been implemented and is one of the biggest tools for providing insight into the business.
Some facts according to McKinsey:
over half of finance processes can be automatedanalytics is vital, and analytics leaders outperform their peers-
These areas are often known as digital finance. Tanbir isn't keen on this term. "We’ve been doing this for a long time. What’s changing is the tech toolkit available to us".
Should finance be the custodians of data?
Maybe that was a good idea in the past, but there's now so much data that one team cant own it all. Data governance is important though. We must make sure there's a single source of the truth.
Does Excel have a place in digital finance?
Tanbir is on the anti-Excel side of the discussion. Excel is flexible and everyone knows how to use it. But it’s a barrier to scaling your data (no controls, no work flow, no audit trail, limited functionality). There was a time when finance were the analytics experts in the organisation. We are still stuck in our spreadsheets, whereas our marketing colleagues have embraced big data
Tanbir's work outside Vardags
Tanbir is building his personal brand within the industry. There are plenty of networking groups out there. He admits to suffering from webinar and Zoom fatigue at the moment!
Tanbir is involved in the FP&A trends group. He's currently working on a white paper for them on data visualisation. Tanbir has also presented for them on topics such as integrated planning and zero-based budgeting
Many businesses have struggled during the past 12 months and need to adapt to ever-changing circumstances. This may require significant adjustments to their business model and operations to help them survive. A business turnaround strategy can help with this.
During this week’s podcast episode, I asked experienced CFO Baz Bedrossian to share his thoughts. Baz has strong experience of supporting business turnarounds throughout his various finance leader roles.
What is a business turnaround?
A business turnaround is the reversal of difficult results through fundamental change. This can take many different forms including refinancing, adjusting pricing and restructuring teams.
What should you do first?
Finance leaders will often be brought into an existing company to implement a business turnaround. You should start by developing a strong understanding of the business and the team. For example, determining what makes the people and the business tick.
You are likely to spend a lot of time talking to people. This includes the stakeholders, Board members, management team and middle management. These conversations will help you to reach independent conclusions regarding what actually needs to be done.
Avoid changing too many things immediately until you have developed a proper plan. Your number one objective early on is to determine whether you have the right people, for example in your finance team.
However, you have most likely been brought in to make a big impact, hence your honeymoon period is only a short one.
Taking some urgent action
During your up-front review, you will inevitably identify some leaks that need to be urgently resolved. Therefore, you may need to make a few urgent tweaks whilst building your transformation plan.
Ensure that you have the right skills in place to deliver the essential finance team requirements. In addition, make sure that your team are fulfilling essential duties such as collecting the cash, paying the bills and delivering compliance.
How to approach solving the problems?
Business turnarounds can take anywhere from 3 months to around 2 years. You need to ensure that you have the right plan in place when you commence the transformation project.
75% of transformation projects do not meet the timeline or budget. This is often due to not having the right people available to deliver them, due to the requirements of their ongoing business roles.
Consider how you can free up your existing team. For instance, simplifying, automating or outsourcing some of your existing activities.
Who should deliver the business turnaround?
It is essential to select the right people to lead and deliver a business turnaround. Every business has unique circumstances and its turnaround requirements will vary.
Consider the following questions:
Should you free up your best people to deliver it, given their skills and understanding of the business?Does it make sense to employ interim resource to cover the business as usual activities?Would a specialist consultant be better-placed to support or lead the transformation project?
Alternatively, you may wish to adopt a combination of the above. For example, creating a joint team that includes your existing finance team and external consultants. This provides you with strong business knowledge, specialist expertise and continuity going forward.
Whatever the answer, you will need to be closely involved throughout.
Impact of business turnaround on people
Struggling businesses have a huge emotional impact on people. At times, things can look very difficult for companies, which can cause the workforce huge distress.
As the finance leader, you need to stay very close to people, keep them informed and communicate effectively. You need to treat people in the way that you would like to be treated. This involves providing them with ongoing support and reassurance during difficult times.
GrowCFO are launching our 2021 finance systems survey to share technology insights from your community. This will help finance leaders to embed technology solutions into your business operations. In addition, this will help you to act as a catalyst for change across your wider firm.
Technology offers more opportunities to streamline business processes and to evolve finance functions. This is driving the automation of most routine manual activities.
During this podcast episode, I asked Chris Tredwell for his insights given his lead role within GrowCFO’s Future of Finance Function events.
Finance Systems Survey overview
Each year, GrowCFO run a high profile finance systems survey to help finance leaders. Its purpose is to collate knowledge and insights regarding how you use finance systems and other software. Therefore, the survey should help you to maximise the effectiveness of your finance function.
Prior to launching this survey, we dedicate significant time towards obtaining membership feedback regarding which topics to feature in the survey. This includes organising focus groups, hosting individual discussions and collating direct feedback.
What the 2021 survey covers
Based upon the feedback received, this year's survey will collate feedback from your finance leader community to answer the following questions:
Which finance systems are the most popular in the marketplace?Which finance systems are the most appropriate for certain types of companies based upon their size and complexity?What percentage of companies are using cloud-native products?How do finance leaders prefer to purchase and implement their finance systems?How long do companies spend on implementing their finance systems?Do you need third party support to implement each finance system?What is the cost of implementing each finance system?How sophisticated is each finance system?How good is each system at dealing with foreign exchange and generating consolidated financial information?Which other systems have you implemented into your finance system?How did you integrate third party software?Which future innovations will you implement into your finance function?What are your biggest challenges towards replacing your finance system?Which technologies will best support you with remote working?How long does your financial close take?How long does it take to produce your monthly management report pack?Are you able to easily access and extract data from each finance system?
Completing the finance systems survey
The survey is located in the cloud and takes around five minutes to complete by clicking here. We will collate responses during the next 4-6 weeks until we have strong representation across each of the most popular finance systems.
Reporting the results
We will present the 2021 finance systems survey results during a special Future of Finance Functions event and will provide Q&A opportunities for all of our members.
GrowCFO will aggregate the survey results into a detailed report, which details each of our key findings. This will focus upon the above topics and will be published within your GrowCFO website.
We shall also share high level summaries on social media platforms such as LinkedIn and will produce a podcast to talk through the results in more detail.
Please complete the survey
Please take five minutes to complete the finance systems survey here so that GrowCFO can help you with these essential topics and also benefit the wider finance leader community. Thank you in advance for your support.
Research shows that soft skills contribute towards 80% of your career achievements. Despite this, most people prioritise developing hard skills and do not have an action plan to improve your soft skills. This is particularly true of the finance leader community, who spend much of their career learning technical accounting skills.
The CFO role has evolved significantly during recent years. You will need to master a significant number of soft skills to successfully deliver your role. I asked experienced CFO Catherine Clark for her insights. Catherine is GrowCFO’s lead professional mentor and has significant experience of performing the Board level CFO.
Importance of soft skills
Soft skills are highly important to becoming a finance leader. They are the qualities that make your leadership successful.
Soft skills are the human skills that you use in teamwork, leadership, collaboration, communication and dealing with people. These are sometimes known as the emotionally intelligent skills and help you to tune in with other humans.
To many people, certain soft skills come naturally. Others will need to invest time in learning these.
Most accountants will learn your hard skills through your qualifications. People consider these to be a given as you become more senior. You will then need to differentiate yourself through your soft skills.
Finance leaders have an incredible amount of knowledge and provide a unique perspective to your management team. Soft skills allow you to articulate knowledge in a way that creates significant impact.
Communication is a vital soft skill
Most experts state that communication is the most important soft skill. Many people feel overwhelmed in their roles and rely upon your communications to provide clarity.
Finance leaders play a huge role in sharing the bigger picture, the purpose and the performance of an organisation. This enables people to understand their role in contributing towards the business.
Your gravitas, presence and how you show up must provide comfort to people. Your finance leader role is particularly important towards making people feel safe within their roles.
The CFO plays a key role in providing business confidence to the Board and stakeholders. Therefore, the CFO must always look calm and in control.
Your body language contributes towards 55% of your message, your tone contributes 38% and your voice 7%. Therefore, you need to be able to communicate through your body language as well as through your words.
Most people across the organisation will not have access to the information that you possess. You must therefore continuously communicate with everybody to help motivate people to achieve your company’s ambitions.
Listening skills
Your listening skills are also a vital part of communication. These include asking people the right questions at the right time. You need to actively listen to people to help them feel their worth in the organisation. This often results in a huge impact on people’s performance.
Active listening helps you to understand other people’s perspectives. This also supports your decision-making and allows you to factor in a wider range of insights.
You can assess your listening skills by trying to recollect what somebody has told you after a conversation.
Why is storytelling so powerful?
Storytelling is an essential form of communication as it helps to bring things to life. People absorb information in different ways and may find it easier to relate to stories.
Finance leaders need to adapt their communication to different audiences. Most other people will not possess your level of technical ability or access to information. Storytelling can help to bridge this gap.
Showing vulnerability
Vulnerability can be a great approach for building a connection with people. This helps people get to know you better and portrays you as being more approachable.
Mark Lee has been described as the most networked accountant in the UK. Who better to talk to about building your professional network?! Networking on LinkedIn is a key part of this. Particularly at the moment when meeting up in person is so difficult.
Mark is a man of many talents. He runs his own business mentoring accountants and tax advisors. Mark is Chairman of the Tax Advice Network. He is also Treasurer to The Magic Circle and a former Chair of the Tax Faculty at the ICAEW.
There are millions of qualified accountants and finance leaders around the world. Each individual has their own unique combination of soft skills, hard skills and personal values.
This podcast episode will help finance leaders to stand out on LinkedIn and tailor your inbound content.
The benefits of LinkedIn
LinkedIn is the main social media platform for senior finance professionals. LinkedIn offers an amazing free service for finance leaders to market themselves and build their network.
Many finance professionals do not enjoy networking events. They are constantly being pounced on by salespeople. LinkedIn offers a good way around this.
Very few finance leaders have received proper training on how to maximise the benefits of LinkedIn. For example:
How do you stand out amongst the crowd?What is the best way to tailor your inbound content?Which types of people should you connect with?
Standing out amongst the crowd
LinkedIn can be incredibly valuable for building your personal brand and obtaining new roles. It is essential to optimise your professional profile well in advance of when you actually need it.
Your history of LinkedIn posts, collaboration and endorsements takes a while to build up. When somebody searches for you online, your LinkedIn profile will be the first thing that they see.
It is important to use the right photo and strapline. You should also update what you say about your previous roles so that your LinkedIn profile is relevant now. Clearly state what problem you solve for people who are reading your profile.
Most people fall into the trap of simply re-writing your LinkedIn profile every time you think about moving roles. Whilst this does have some impact, you will miss the opportunity to demonstrate your full expertise. This can be more powerfully portrayed by the quality of your network and what they say about you. Adding endorsements, blog posts and articles will also further enhance your overall impact.
If you achieve something great then tell people about it. Find a style to powerfully portray your achievements, without sounding like your own biggest fan…!
Video posts can also be a fantastic way of giving people a change to get to know you online. They profile your personality and help show what you are like to interact with.
For more details, finance leaders should work through Module 4: Build your own brand within your Future CFO Programme Home - GrowCFO
Networking on LinkedIn
Very few finance leaders have a proper strategy to build up a powerful LinkedIn network. Networking on LinkedIn is about quality not quantity and you need a proper plan.
Start by connecting with your known contacts and people who you have previously worked or interacted with. After that, you should also be very picky about who you accept connection requests from.
Also think carefully about who you request to connect with on LinkedIn. Networking is important and you want to create a powerful network. This network should demonstrate your profile, as well as provide you with insightful content. There are huge benefits to networking on LinkedIn with people who regularly share value-adding posts, videos and articles.
Many people worry about constantly being sold to on LinkedIn. However, it is easy to adjust your notifications to minimise spam messages. If necessary, it takes seconds to remove any connection who keeps spamming you.
For more details,
Surviving lockdown was an issue raised in the last GrowCFO Situation Room networking group. I asked resilience specialist Russell Thackeray for some advice.
Our finance leader community is affected by lockdown in a number of ways. Some are working solo, home alone. Others are struggling to do a high-pressure role alongside home schooling and childcare. Yet others might be finding themselves in between jobs. It’s lockdown number 3, its starting to feel like Groundhog Day, and the weather isn't great anymore. So, how do we all keep sane?
Surviving lockdown is the wrong mindset
Many people are currently extremely worried about this lockdown and part of the problem is the way that we frame it. We often think about surviving lockdown, rather than accepting it and then working out how best to deal with it.
People spend a lot of time reading negative headlines in the press, which can easily make you feel depressed. However, the chances are that many positive things have also happened to you during the past year. For example, new hobbies, personal achievements, business successes, family additions, discovering more things to do locally, meeting more of your community and spending valuable time with your household members.
It is important to build the right mindset and select which facts you would like to focus on when determining how you really feel.
Personal resilience helps surviving lockdown
Building personal resilience is essential towards surviving lockdown. Everybody has their own unique combination of circumstances. Your circumstances can have a huge impact on how this lockdown is affecting you. The chances are that you cannot do many of the things that you previously enjoyed doing. Spending time with family and friends; going to work; travelling; visiting bars or restaurants; and playing sport. Plus, many people probably haven’t had much time off work recently.
Regardless of how you feel, you need to find a sense of perspective and determine what best options are available to you. Otherwise, you can easily fall into the trap of blurring the lines between personal life and work. This will inevitably lead to you working harder at the expense of your wellbeing.
Statistics show that employed people are currently working incredibly hard and that most people are being incredibly productive. However, this is unsustainable and carries a range of risks including developing stress and potential burnout. You could also be missing an opportunity to maintain some form of personal life. Maybe there's an opportunity to develop new hobbies that you may benefit from
How long is your working day?
Many people now have a potential working day from the moment that you wake up until the moment that you fall asleep. Other than attending various Zoom sessions, much of your work can be done at any time. You can balance it around your personal requirements, household and family commitments.
However, given the blurred lines between each of these activities, many people find themselves constantly juggling work, homeschooling, childcare, household requirements and personal activities all into one go. This can result in doing 14 things badly, rather than delivering each of these effectively in turn.
Neurotherapy shows that the way we think, feel and act is reflected in our physiological functioning. Particularly in the brain and nervous system. Problems like depression and anxiety form when your brain gets stuck in maladaptive states and patterns, due to the hormonal feeding of cortisol into our system.
Surviving lockdown is all about managing cortisol
Just small amounts of anxiety will create a cortisol load rocking through their body, affecting your heart, lungs, digestive system, glucose immunology and brain function. Too much of your physiology is being poisoned by cortisol, which loves glucose and drains energy.
You need to control your situation to prevent cortisol from being stimu...
We publish the GrowCFO Show podcast every week, but its only a small part of GrowCFO. In this week's show we take a look at how you, the finance leader, can benefit from the wider CFO community.
Grow CFO is where Finance Leaders Grow Together. Join thousands of like-minded professionals using GrowCFO to access the combined knowledge and experience of the finance leader community
Being a successful CFO isn't easy
Becoming a successful CFO requires commitment and dedication towards delivering your full potential.
Securing the top CFO role is the ultimate aspiration for most ambitious finance leaders. When delivered effectively, it offers a lucrative career full of exciting challenges. Alongside this is the personal satisfaction of making a huge impact.
However, the constantly evolving role carries huge responsibility and significant pressure from ongoing urgent tasks. CFOs often feel overwhelmed and stressed out, leading to procrastination and struggling to see the bigger picture during decision-making. You may feel very self-reliant and exposed to others, creating a loss in confidence and imposter syndrome which can rapidly diminish performance levels.
The most successful CFOs possess a strong financial foundation, an integrated understanding of the role and high levels of gravitas around board members. They build trusted teams, implement robust integrated systems and generate confidence, whilst supporting senior management and driving decision-making.
Who is GrowCFO for?
Grow CFO is aimed at finance leaders. Its not just CFOs though. Finance leaders have many different job titles. You might be a finance director; a VP finance; or a head of finance. We think of CFO referring to the person who has the no 1 role in finance.
You may be a CFO already or you might have ambitions to take on that role in the near future. If you are looking to take on the role in the near future then the future CFO programme can give you the help you need. I discussed the programme with Dan Wells in episode 20
If you are a CFO, then you might be very experienced, or you might be new to the role. GrowCFO can help with the Finance Leader Programme and with mentoring. We talked about mentoring in episode 5 with Catherine Clark.
For experienced CFOs its a place to give back, and to encourage the next generation of finance leaders. Chances are the things they are struggling with are things you have already solved.
How did GrowCFO start?
Dan Wells started GrowCFO in January 2020. Prior to that he was a partner in KPMG. I first spoke to Dan in February, and he already had a thriving community of CFOs established. We met on linkedin, and quickly ended up in an extended phone conversation. The first of many. Soon after I invited Dan to be a guest on The Next 100 Days Podcast. The relationship grew from there.
That first phone call happened in Costa Coffee on the way home from my last face to face client meeting. Little did I know the next one would have to take place with us all working remotely. The next consulting project had been planned for ages too. It didn't happen. Welcome to Lockdown! Little did I know that my whole life had just changed.
Besides consulting, I also worked with IA seminars, delivering courses in the classroom to develop tomorrow's finance leaders. I focused on delivering classes that let people learn practical rather than theoretical skills in a safe space. I teach most of the skills you need to be a successful strategic business partner
Strategybusiness planningbudgets & rolling forecastsZBB & cost reductionUnderstanding the economic engine of the business with ABCKPIs, nonmembers financial reporting balanced scorecards
I added some free resources to Dan's website to help finance leaders who needed to replan quickly during lockdown. At the same time I was looking for ways to take the things I teach in the classroom into the online space.
If you are a GrowCFO member you will most likely have come across Patrick Dunne already. When is comes to boards, and how they work, Patrick is pretty much the leading authority. Inside GrowCFO, Patrick frequently talks about the dynamics between the CEO, the CFO and the board. But today we find out about Patrick Dunne the person. He tells me about his career, and why he wrote the book "Boards: A Practical Perspective"
Who is Patrick Dunne?
Patrick has very humble roots. He hails from Toxteth in Liverpool. He is one of 6 children of an Irish immigrant family. None the less, he got a place at university to read maths, and this led to a very successful career. His executive career started in Chemicals, but he made his name in Private Equity. Patrick's career eventually took him to the Operating Committee of FTSE100 3i Group plc.
These days Patrick Dunne owns and runs Boardelta which advises boards around the world. Since retiring from 3i in 2012 he devotes a good deal of time to charitable causes. He is passionate about education in Africa. Patrick is Chair the EY Foundation; ESSA-Education Sub Saharan Africa;. and he is the founder of Warwick in Africa.
He serves on the Board of the Chartered Management Institute. He is a Visiting Professor at Cranfield School of Management; a visiting Fellow at Warwick Business School as well as the author of "Boards".
Boards: A Practical Perspective
Boards provides a practical, realistic, thought-provoking and useful guide to life as a board member. It is split into three areas, 'Purpose', 'People' and 'Process' reflecting the three key areas of concern for any board. We go into these in more detail in the podcast.
A fourth section sets out a series of real life dilemmas for readers to practice on. The book is an ideal companion for anyone who is an aspirant, novice or seasoned board member. This makes it great reading for any future CFO.
Patrick draws on his extensive range of experience working with and on boards in many sectors, in the UK and internationally. The book is equally applicable to business, charities and social enterprises, professional services firms, public bodies and universities.
The book is also written in a highly accessible and engaging style. Patrick's aim is for the book to be practical and to be read by board members. It isn't an academic tome, instead it brings life and fun to what is a very serious topic
The CFO and the Board
Patrick sees the CFO as one of the most important people on the board. While the CEO runs the executive team and the chair runs the board, the CFO is often the glue that holds it all together. Patrick sees the role of the board and the executive team in the form of a Venn diagram. The two cant be separate, nor can they overlap too much.
Want to find out more about Patrick's view on the role of the CFO on the board? Then why not join GrowCFO today?
Tony Talbot is an experienced headhunter turned podcaster. He's the host of the Career Move Secrets podcast and he joins me on The GrowCFO Show to talk about the hidden job market. He gives us the inside track on how most senior roles are filled and exactly how a headhunter will draw up a shortlist of candidates.
Tony specialises in helping the owners and leaders of consulting companies hire senior, hard to find, and niche talent. From time to time he also handles c-suite roles.
The advertised job market is broken
Today's Advertised Job Market is BROKEN for senior candidates. Your average odds when you apply to a job online are 250-1.
In reality your Resume is highly unlikely to be read by a real human being as the ATS (applicant tracking system) is designed to filter out 80% of applicants. Worse still many of the jobs online are FAKE, duplicates or filled by candidates from referrals and recruiters rather than job advert applicants.
What is the hidden job market?
The truth is 80% of all hires are made in the Hidden Job Market (the jobs that are not advertised online or anywhere else). The more senior the role the more likely it is to be recruited this way. Far fewer than 20% of CFO roles are ever advertised.
The hidden job market is split in two and comprises:
Roles that are filled by people already known to the CEO and his team, or are recommended by their networkRoles that are filled by candidates sourced through a head hunter like Tony.
CFO roles are commonly filled through either of these two routes.
Networking your next CFO role
Being well connected has never been more important. Lots of c-suite roles are filled by people already known to the organisation or through recommendations of trusted advisors.
Building your network is key. Go out of your way to form relationships with auditors or professional advisors, and with senior executives in your chosen sector. Who you know is important. You should build connections and relationships both in person and on LinkedIn.
You can find out much more about how to build your network in module 5 of the GrowCFO Future CFO programme
Know how to get noticed by a headhunter
If you want to increase your chances of being found by a headhunter you need to know how they operate. Tony went into lots of detail about this in the podcast.
LinkedIn is absolutely critical to the process. Nearly every search will start with Sales Navigator and a key word search. You must make sure your linkedin profile contains the right matches otherwise you will fall at the first hurdle.
There's much more to it than just key words. Once you have made it to the long list an a human is reading your profile you need to stand out. Tony has lots of tips for doing this.
Linkedin is a vital tool in the hidden job market
You must make the most of your headline, it isn't just your job title. Use all the space available to say a little bit more. Then you need top make maximum use of the summary section. Don't just list skills talk about some specific successes you have been involved in, problems you have solved, and other key achievements.
You can elaborate further in each of the job descriptions you include. Make sure you use all the text available to you in each section.
You need to keep your profile up to date. A profile that hasn't been updated for more than a couple of years will soon be discounted by the headhunter.
Show the headhunter you are active and have something worthwhile to say be posting regularly, or by commenting meaningfully on other peoples posts, particularly when key people of influence in your space are posting. That might be fellow finance professionals or leaders in your industry.
About the Career Move Secrets podcast
Career Move Secrets is your insider's guide to getting hired in the hidden job market and beating the global economic downturn.
The show delivers insider advice on job searching,
Is 2021 the year you aim to take on the top finance job? If so the Future CFO Programme can help you get there. Dan Wells, founder of GrowCFO explains how
We have upgraded the GrowCFO Future CFO programme and moved to a new platform for 2021. We've made the material and workshops easier to access and more flexible to use. The changes will give you an enhanced learning experience thats easier to tailor to your needs.
The Future CFO Programme equips you with the different skills you need to step up to the CFO role, work strategically with your new C-suite colleagues and lead your own finance function.
What is the Future CFO Programme?
The Future CFO programme is a blend of workshops, self assessment, and online learning. The programme is designed to take you from your current role as a senior finance professional to being an impactful CFO.
There are three key parts to the programme:
The Insightful Leader focusses on the core skills you will need as CFO rather than head of finance.C-Suite Ready moves you from being one of the crowd of finance professionals to becoming a trusted board memberOwning the Top Job will help you win your dream job and create your identity as an impactful CFO in your first 100 days
We've broken down each of the three sections into three modules. Nine modules in total. You can find out more and take your first steps to join the programme here
Future CFO Programme online learning
You will find the online training programme within the learning centre at GrowCFO.net. The 9 modules are broken down into around 200 separate lessons. The Programme is CPD accredited. You can gain 40 hours of CPD by completing the programme.
One of the big changes we've made for 2021 is in the Learning Centre. We've upgraded the learning management system to add some new features and to allow us to implement some of the recommendations from the CPD assessors. We've discovered that a CPD assessor is just like an auditor. You get a certificate, but it always comes with the could do better list! Learndash gives us lots of new features which will make your learning experience even better as we turn them on over the coming weeks and months.
Future CFO Programme workshops
Every module also has a workshop. You can attend workshops over Zoom. Each workshop is led by an expert in that particular area. Since the start of the programme in March 2020 over 200 prospective CFOs have enrolled in the Future CFO Programme. It goes without saying that we've learned a thing or two and listened to a lot of feedback. The big change for 2021 is to give you more flexibility. You will be able to attend workshops in any order and at a time that better suits you. Workshop sessions for each module will be scheduled regularly across the year so you can book them when you are ready.
Our original approach was to place you in a cohort of 10 or 12 peers and take each cohort through the programme at roughly one module a month. While working with a small group of peers and learning from each other is a great idea it doesn't always work when you are busy. We know people struggle to keep up with the monthly schedule. Finance people are some of the busiest there are, so we have to give you the flexibility you need top fit your learning around your day job. In the future if you are busy and need to skip a month it really doesn't matter.
How do you get started?
The first step is to become a free member of GrowCFO. Once you have done that you can sign up for a programme launch session. We hold a launch session every week over Zoom. During the session we go through the programme in more depth, and you can decide whether its right for you.
If you want to continue then you will need to upgrade your GrowCFO membership to premium. At the moment this costs £300 a year or £30 a month. Besides access to the Learning Centre and the workshops you will get access to all the GrowCFO premium events and resources.
We're all back at work after the festive break, refreshed and ready for whatever challenges 2021 will bring. Did you set yourself any new goals for 2021, or perhaps some new year resolutions? I caught up with Mark Channon for some help on turning those goals and resolutions into reality. Mark has some great advice to help you achieve your objectives.
About Mark Channon
Mark originally trained as an actor, before becoming one of the first 8 people in the world to become a Grand Master of Memory in the 1995 World Memory Championships. These days Mark works as a performance coach.
How does Mark plan his year?
Mark uses the 3-3-1 model. Three years, three months, one month. While he has a 3 year vision he never plans in detail for any more than three months at at time. He then breaks his objectives down into monthly goals. We focused on technique for goal setting in the last episode of the GrowCFO Show
Achieve your objectives with Tiny Habits
Mark is a huge advocate of tiny habits as a way to achieve your objectives. He has produced a free course inside GrowCFO that explains how to use the technique.
https://growcfo.mn.co/courses/2178470/content
B J Fogg devised the Tiny Habits method, and Mark has worked with B J for some time. Mark was originally fascinated by B J Fogg's claim:
"Create new behaviours without the need for willpower or motivation"
Focus on tiny
In the Tiny Habits method you always start with a tiny behavior. Below are some examples:
Floss one toothPour a cup of waterRead one sentence in a bookPut on walking shoesTake one deep breath
At the end of this page, I'll explain how to translate a difficult habit (like 25 pushups each morning) into something tiny. But first, let me explain why tiny matters.
Why start tiny?
Difficult behaviors require a high level of motivation.
You've seen this in your own life. If there's a tough task facing you, such as cleaning your entire home, you won't do it unless your motivation level is high.
As human beings, our motivation level for any behavior goes up and down over time. That's natural. And you can't always rely on having a high level of motivation. Your motivation is often low for cleaning or exercising or cutting vegetables. That's reality.
Relying heavily on motivation to create a habit does not work.
Tiny gives you success
When a behavior is really easy, like putting a magazine back on the shelf, you don't need to throw a party to succeed. In other words, when a behavior is easy, you don't need to rely on motivation. You simply put the magazine back on the shelf, and you are done.
This was BJ's insight: "Okay, BJ. You already know how to floss all your teeth. That's not the problem. You don't yet know how to do this automatically." So I scaled back flossing to just one tooth. I then focused on making this tiny behavior automatic in my life. Soon I created a solid habit, and then I grew the habit to include all of my teeth (hooray).
Simple is powerful
Simple is powerful. You’ll experience that next week.
You can grow your tiny behaviors in later weeks (for example, expand from flossing one tooth to all your teeth). But for this next week, to benefit your own success and learning, please, please keep it simple.
Just like with plants: You start small. It takes root. And then it can grow.
Simplicity changes behavior. The most important three words you’ll read today.
Achieve your objectives with Pomodoro
Mark uses Pomodoro as a way to develop a tiny habit into a much bigger behaviour. He's currently writing a book, and uses the technique extensively to get work done
The Pomodoro Technique is a time management method developed by Francesco Cirillo in the late 1980s. You use a timer to break down your work into intervals. These are traditionally 25 minutes in length, separated by short breaks. Each interval is known as a pomodoro, from the Italian word for 'tomato',
Goal setting is something that should be very personal. As you move to senior finance roles you need to take charge of your own destiny. You set your own goals, independently. We believe that goal setting starts with understanding your why? Only once you understand your why can you move to the what? The specific goals you want to achieve. Setting the goal is all very well, but you also need to address the how? How exactly will you achieve your intention?
Do you plan for a whole year?
Both Kevin and Catherine agree that a year is much too long to plan. A year looks too far into the distance and there are too many unknowns. Catherine plans monthly. Goal setting for Kevin is the next 90 or 100 days, but then he breaks this down into months.
What is your why?
Both Kevin and Catherine believe you need to understand your purpose, your own particular why? Only when yo have this can you naturally start goal setting. Do you understand what motivates you? What excites you?
Kevin has a single motivating purpose. A single motivating purpose isn't a destination its a state of being. Its expressed as "I wake up in the morning to do xxxxx in order to xxxxxx"
A number of resources to help:
If you are looking to better understand your own why? The following books will help:
Strengthsfinder 2.0
https://amzn.to/3hiOHjF
Unique Ability
https://amzn.to/37Kdhqq
Goal setting: around your strengths or your weaknesses?
Kevin believes you should focus your objectives around your strengths. Strengths are things you can develop to mastery, while weaknesses are things you are likely only ever to be mediocre in.
Catherine points out that to really develop you need to get out of your comfort zone, so don't interpret strengths as just things you are comfortable doing. Think about new skills you might need to develop.
Goal setting. The what?
Once you understand your personal why? articulating the goals you want to achieve becomes easier. Catherine has two or three big goals. She breaks these down into intentions.
The goal describes the outcome you want Catherine writes down 10 intentions each month, written as if they already happened. The intention breaks down the goal
Affirming the goal is very important. You need to enjoy the journey to achieve your goals and intentions. If you believe in what you want to achieve you will achieve it
Goal setting. The How?
Think of goals as projects. Organise your tasks and activities as you would a project. Think also about people. Who are the people I need to engage?
Make your goal setting smarter:
SpecificMeasurableAchievableRealisticTimeboundExcitingRelevant
Focus on one or two key things: Whats the most important thing to do today / this week?
Don't have too many goals. Less is more. You can go an inch in a hundred directions or a mile in a single direction.
Further Reading:
Essentialism - Greg Mckeown
https://amzn.to/3nQpgsg
Dream bigger
Most of us don't think big enough, we limit what we can achieve simply by thinking small. You need to dream big and have a great vision, the vision needs to capture your attention. Where attention goes energy flows.
How do I want to feel? Who do I want around me?
State your intentions to others, this puts accountability in place.
The power of your vision
Catherine shared her recent blog post:
The power of your vision is in seeing yourself doing the thing you want to achieve. Be the leader, the director, the owner of a successful business, the person who helps others. If you can see who you want to become and why, you can be that person. You can step into their shoes and and stride purposefully forward.Never lose sight of what you want to achieve, It is the glue that holds every small step together. It is the light that you keep moving towards, that stays lit even when your motivation fades. Your vision is what drives you but you must never forget that you are the driver of the ...
At the end of 2020 you may well find yourself reviewing your finance team. Its been a very unusual year. A test of character. Some of your team may have struggled while others have flourished. The team has adapted and survived, but the start of 2021 might be the time to make some more long term changes. Andrew Waters joins the GrowCFO Show to help us navigate our way through the review.
What do you intend to do long term
Our finance teams have been operating under unusual circumstances since March 2020. By and large we've adapted and survived. The next 6 months lare likely to be very similar. Beyond that we might be returning to a more normal situation. But what lies beyond? Are you now a remote team? How likely is it you go back to exactly how it was?
Your high fliers have had a taste of alternative way of working which they may have loved. There are risks to bringing them back into the office 5 days a week.
We've been ducking and diving, muddling through with the current team. There have been few opportunities for CFO to take control of situation. Now is the time for that to change. What should the team look like in 6 or 9 months time.
Is your finance team still motivated by the same things?
Dont assume you know what works best, ask the team, involve them in designing the future
Motivations may well have changed. Are individuals still quite so motivated by career progression and money as before. Is Friday afternoon off to play tennis much more important than it used to be.
How do you deal with individual finance team member's performance?
Top performers need to be rewarded. Some people will have flourished during the pandemic. They will have thrived in the new conditions and will have gone the extra mile. Your 9 and 10s need to be recognised. Is it time to stretch these people further. Are there any new responsibilities you can pass their way that might help the next step in their development?
Likewise solid performers at 7 or 8 will be doing great things to hold the team together. What can you do to make sure this continues? Can you better support these individuals?
What about poor performance?
Poor performers, 6 and below are more difficult. Who has done much worse than expected, or worse than previous years?
Nobody shows up at work to do a bad job. Its been a tough year and some folk have been in a difficult situation. You need to understand what's going on under the surface.
You need to avoid similar conversations in 6 months time, so look to see how you can help. A sudden drop in performance will have a story behind it. You need to know that story and investigate how to change its ending.
Ongoing poor performance is a different matter. If somebody has performed consistently badly you may need to take more drastic action. Its likely that the pandemic is more excuse than reason for the current year grading.
How do you reward people?
Saying thank you is sometimes enough. Don't forget the simple recognition. Think about giving your best performers more challenges and opportunities.
Make sure you take money off the table. Pay sufficient to make sure your folk are well rewarded, but beyond that remember that money isn't always the best motivator. Lack of money or lack of parity with friends may well de motivate so make sure that doesn't happen.
We discussed the effectiveness of bonuses in a recent GrowCFO members Situation Room. One of our members referred us to this excellent video from Dan Pink. Take a look before you conclude that bonuses work. Dan argues otherwise.
https://youtu.be/u6XAPnuFjJc
Think about benefits as well as bonuses. Gym memberships; mental health wellbeing coaching. Make sure people working remotely aren't disadvantaged by the geography of supplying the benefit.
How do we need to evolve?
Take time to reflect on 2020. What have you learned about your team? Are there things you could have done differently?
On this week's podcast we talk about investor communications. Investor communications are an ever more demanding responsibility for the CFO. We take a look your responsibilities, how these can become a major distraction from other key business tasks, and how tools built specifically for the CFO can help you.
Aside from accounting software there aren't many tools made specifically for the CFO. Andrew Seski's company NthRound make one of them. It focusses on investor communications, and gives both investor and CFO a portal that can both save time and improve investor relations.
CFO as the public face of finance
Your CFO role means that you are often the main point of contact between the outside world and your business. Rather than just head up the finance function you now need to represent finance to other people in the wider world. This can include customers, suppliers, and investors.
This communication role gives you lots of new challenges and takes you further towards the edge of your comfort zone. You need lots of new skills. These will often be things that you didn't learn to pass exams or you didn't need in a head of finance role. Investor communications is a skill in itself, and one you will need.
Addressing shareholder needs is more and more a CFO responsibility
As CFO it's likely that in a fast growing company investor communications will be your responsibility. As the company grows need to interact with investors grows too. The company may initially deal with one or two angel investors. As time goes on it is possible that more investors become involved. It may be that the company gets involved in raising equity finance in a whole range of different ways. Each time the role of the CFO becomes more complex with more people to communicate to.
The needs of investors become more complex too. There will be different types of investor, each needing different information. The equity fund will need quite different information to the employee shareholder. Information you will need to supply will be quite diverse. You will need to communicate company results and forecasts, but these days many more things are called for too. Investors also need access to legal documents about their shareholding, and it can be a time consuming activity top provide copies of these on demand.
Communicating important investor updates and sharing documents via email can quickly become an administrative burden as your cap table grows.
Investor communications is not necessarily the CFO's core skill
Investor communications falls on the CFO. But have you ever been trained?We think its quite unlikely. This makes the whole area quite challenging. Giving the right information at the right time and in the right way is quite demanding. Investor relations isn't necessarily the first thing you worry about as CFO. But it is very important. Any help in this area is incredibly useful.
Nth Round gives the CFO a solution for investor communications
Andrew Seski's company nthround provides a tailored and bespoke solution for investor communications through an investor portal.
A modern investor portal provides a new way to share reports, updates, and private documents all in one place: one that matches people's communication expectations today.
With the ability to post your latest information online, you’ll save paper and time while making sure your investors can access the information they need at any time on any device.
New NASDAQ Requirements and investor communications
New NASDAQ regulations require companies to demonstrate diversity and inclusion. When you engage with investors cognitive bias will often kick in, and your communications may emphasise one group of investors over another. When you engage a diverse audience you must avoid any bias. An Investor portal ensures that you give a consistent message to everyone.
We looked in detail at the issues of ethnic minorities and all female business teams...
Catherine Clark joins the GrowCFO to talk about imposter syndrome. Its a problem that Catherine encounters with lots of her mentees. Its something quite common amongst first time CFOs and its something she suffered from herself in her first role as a CFO. In this podcast Catherine gives you some great strategies for coping with imposter syndrome.
What is Imposter Syndrome?
You are in the role that you always wanted, so why do you feel like you don’t deserve it?
What are you thinking right now in relation to your intelligence, skills, or competence? If you’re feeling unworthy in some way, consumed with self-doubt. You may be thinking, ‘I got here by luck’, ‘I just work harder’, ‘I am not really good enough to be here in this role’. The chances are you are feeling like an imposter, and doubting your ability to repeat past successes.
Imposter syndrome is a problem worth sharing
And one worth solving. Because it takes so much emotional energy to deal with the feelings of not being good enough. Lower emotional energy will drain your ability to show up in the way you wish to. It will affect your confidence, productivity, motivation, and influence and ultimately stem your potential to be the best you can be in work and in life.
When you feel like an imposter, there is a gap between how others see you and how you feel inside. You attribute your success to external factors outside of yourself, rather than learning to feel like you have worked hard to deserve your role or the praise and recognition by others. Do you have an underlying fear of being found out? ‘I am not the person others think I am’, I don’t deserve this!’.
Imposter syndrome can arise from social conditioning, self-critical thinking, and family patterning. You may have been brought up to doubt your own self-worth in some way or be in a work environment that promotes self-doubt.
It’s normal to feel this way. You are not alone if you have these thoughts. Research shows that the majority of people feel like an imposter at some point in their life. The feelings can be there all the time, or they can come and go.
Self-awareness is the first step to combat imposter syndrome
The thoughts we are having in life affect our emotions, our bodily sensations, and our behaviours.
I’m going to get straight to the answer, you can change how you think. Despite having around 60,000 thoughts a day, we are not our thoughts! Meditation is one practice that is very helpful in allowing us to sit in the present moment and objectively observe our thoughts without reacting to them.
In the case of imposter syndrome, you may be in a big important meeting and a thought, ‘I am not as good as my colleagues’ emerges. You are likely to feel anxious or worried. Your heart may beat faster. You may feel butterflies in your stomach. You may blush if asked a direct question. As a result, you may withdraw inwards and not speak up with your insight or concern. You may be afraid to ask the questions you would like an answer to. It is often the emotion we notice first, and it is the strength of the emotion that can determine how much you believe the thought.
But imagine if these automatic negative thoughts, often arising from our underlying core beliefs and assumptions and attitudes did not emerge, or if they do you would be able to reframe them? Think how much better you would feel.
We can catch our thoughts and choose to react to them in a different way. It will take effort however we can break lifelong habits, and we can change our own belief system to something new.
Confidence comes from courage.
The courage to be imperfect, to take positive actions, one step at a time to retrain our brains and change and create new neural networks that work for us not against us. Creating new unconscious habits takes time. It will be a daily practice to train the mind ‘muscle’ to perform better and stronger, but it will be worth it to see an improvement in your mental...
You are a newly appointed CFO. You need to take a view of whether your finance function and the finances systems you use are appropriate. Matt Benaron joins the GrowCFO Show to show you how to create a finance function blueprint during your first 100 days in post.
About Matt Benaron
As Director and Co-founder, Matt Benaron leads the VantagePoint consulting team by drawing upon his extensive experience implementing finance solutions across multiple sectors. He is a CIMA-qualified chartered accountant with comprehensive experience across varying finance systems as a solutions architect.
How do you start to create a finance function blueprint?
Once you have secured your first CFO role you will need to act quickly. The first 100 days in your new role are critical. During that time you will need to assess your finance function and determine what needs to change. You need to have a finance function blueprint that you can use with your team and the rest of the business to signpost the way forward. Its likely you will need to implement change, and the finance function blueprint will set out the vision, the indicative solution, the roadmap, and the funds needed to change.
You will need to go through several steps in those first 100 days. Matt takes us through those one by one. We cover two key modules from GrowCFO's Future CFO programme:
Module 8 Take over the finance function, and create a blueprint for your own teamModule 9 Create your identity, The first 100 days
Be clear on business strategy
Your finance vision must align to the overall strategic objective of the business. So start with CEO, the rest of the c-suite and the board, There may be a written strategy and objectives for the business. But its not unusual for that not to exist. Even where a strategy exists then the interpretation of it may not be universal across the whole top team. Find out what the real objectives are, and make sure you have alignment.
Often the objectives aren't clear, or incomplete, so work with the board to understand what the objectives really are. You need everyone bought in from the start.
Translate business strategy into a vision for finance
Take a view on what the strategy means for finance. What do growth targets or geographic expansion targets mean for finance? How big is the company going to be? Will transaction volumes change significantly? How many currencies will you deal with? Is there a move to different channels? Will finance need to integrate with new things?
Get your team on board with the finance function objectives
Engaging with your team early on is extremely important. You need them to be bought into the solution. Communicate often. Think about catch phrases and themes, make sure they start using the language you do. They need to understand their role in the change.
Listen and engage with your entire finance team. Ideally one on one. Surveys and interviews work well. Find out what works well and what doesn't. They will be able to give you a lot of the detail that will help you formulate the finance function blueprint.
There will be other key pieces of information easily to hand. Look at past audit reports and similar documents, they will give you clues about some of the issues you will need to address.
Engage with the rest of the business
Ask the rest of the business about finance. These people are your customers and will give you a great perspective of how well you serve them. A significant part of your job is raising the perception of finance in the business, so understanding what they need from you will start this process. The customer of finance will tell you about issues your own team won't.
lots of issues for finance start in other departments, and finance causes issues for the rest of the business. You will need the whole of the business bought into your finance function blueprint, not just your own finance team. But remember to put the customer first.
Hannah Munro is managing director of Itassolutions and host of CFO 4.0 Podcast. Hannah has over 10 years experience helping CFOs drive finance transformation and reshape finance functions. We look at what you need to do as a CFO to lead a successful finance transformation
There are three elements to finance transformation: People, Process & Systems
Hannah Munro has a background in analytics and process design and not in technology She believes that the key to a successful transformation is to make sure you don't concentrate solely on the technology. You can have the best technology in world, but if you don't have good processes and motivated people then your project won't get anywhere.
Finance transformation is driven with a good change process
If you want to deliver a successful finance transformation then you need to understand how to lead change. John P Kotter outlines an 8 step process in his book leading change.
The 8-Step Process for Leading Change was cultivated from over four decades of Dr. Kotter’s observations of countless leaders and organizations as they were trying to transform or execute their strategies. He identified and extracted the success factors and combined them into a methodology, the award-winning 8-Step Process for Leading Change.
Create a sense of urgencyBuild a guiding coalitionForm a strategic visionEnlist a volunteer armyEnable action by removing barriersGenerate short term winsSustain winsInstitute change
If you want to find out more about Kotter here's a great article
Create a sense of urgency for finance transformation
A sense of urgency or a burning platform needs to underpin all change. If you don't have a burning platform for making your finance transformation then its unlikely to happen. Recently we've seen remote working mean on premise accounting solutions are no longer viable. This has given an urgency to adopt cloud based systems.
If you want to transform then something needs to motivate change. Ask yourself whats driving the urgency? If you have no urgency you will have no motivation.
Sometimes that lack of urgency means necessary change doesn't happen. In the podcast Kevin recalls his employer growing by acquisition but failing to consolidate the back office. Once the need to consolidate became urgent it was too late to do it. The business was already losing too much money and collapsing fast.
Build a Guiding Coalition that extends beyond finance
You might be transforming finance, but you need to look further. The problem often sits outside finance. Make sure there is representation from across the business, not just from the finance team. You will likely have to change processes that significantly impact on the way your finance team operates. Many of those processes won't be owned by finance and will be driven by the rest of the business.
You can start by identifying capable, influential, and critical allies from across your business. These people are your change oversight team.
Make sure finance transformation aligns with a strategic vision
Build a picture of what the future looks like after the finance transformation is implemented.
Your picture of what the organisation can become is both a future that looks appealing and sensible. If it isn’t, then it will be hard for the leaders to sustain commitment to the change effort. In this step, you must maintain a balance between setting organisational direction independently and collaborating with the guiding coalition.
A strategic case for change is a key element of any business case. Poor finance solutions can hinder the wider business strategy. The system you choose for finance needs to enable wider business processes so you need to ensure the technology is a strategic fit with other business systems.
Enlist a volunteer army
Can you communicate your vision effectively? You must capture the hearts and minds of the employees and managers who are necessary to imple...
Today I explore the CFO mindset with Tony Shafar. Tony is an executive coach. He coaches business leaders and in particular people in senior finance roles. Tony believes that for most the technical abilities needed to do the job are taken for granted, but these only account for a small part of what makes a successful leader. The rest is mindset. We explore how the wrong mindset can undermine you, and how to address the problem.
About Tony Shafar
After studying Accountancy and Business at Strathyclyde University, Tony qualified as a Chartered Accountant working for Grant Thornton in Glasgow. Upon qualification, he moved to the London office specialising in Corporate Finance.
Tony's career progressed through senior finance roles at Morrisons and Virgin Media. He then spent 10 years working as a Finance Director for Ogilvy where he was a key member of the senior management team, managing the P&L, negotiating with clients, and working alongside the CEO managing staff and other key stakeholders.
Tony realised being a finance director with a large corporate was no longer fuelling his passion, and he changed direction to become a coach alongside a role as a portfolio CFO for a number of smaller organisations including owner managed businesses and technology start ups. He enjoyed taking on a broader role, not only including managing the finances and helping with fund raising but also having operational responsibilities in helping manage the business.
Whats the issue with CFO mindset?
The technical aspects of the job are taken for granted, you have a good no2 producing numbers for you. The mechanics are 15% of the job. The rest is mindset. Its such a big part of the role you have to get it right.
Most of the time Tony's role is to help people get clarity on what's holding them back. Discover what this is and you have the key to creating the right mindset for success.
Mentoring and coaching can really help you. An experienced mentor can help you navigate the diverse challenges your role gives you. If mentoring interests you then GrowCFO can help, and you can find out more here.
Uncertainty is the biggest problem
Do you ever say to yourself:
“ I’m not experienced enough to get that promotion”
“I can’t let people know that I’m struggling with this as they will see me as incapable and not up to the job”
“ I would like to take on that assignment but I’m worried that I might fail”
These negative, fearful thoughts are not uncommon and come from limiting beliefs, embedded in your mind. They have been built up throughout your life. They are determined by many factors including experiences of the past and what people said you could or couldn’t do.
Is this common amongst finance leaders?
Lots of Tony's clients talk about uncertainty and fearful thoughts when making key decisions. This uncertainty stops them taking the next step, even when that step is something they really want. You might be a financial controller wanting to progress to CFO. You don't know whether you can do the role. This is because you have never done it before. Uncertainty leads to doubt about whether to apply for role and inaction or procrastination.
Procrastination leads to unhappiness as you aren't getting fulfilment.The more senior the role the bigger the problem, so CFO mindset is vital.
how do you encourage someone to push through?
You must identify the real underlying fear thats holding you back. What's stopping you taking the next step or making the key decision? Its usually uncertainty and your natural tendency to avoid risk.
By accepting a limiting belief, it will become your reality, so once you hear the negative critic in your head, call it out, and ask yourself something which may question your limiting belief and help move you towards your solution as opposed to focusing on the problem.
Good questions to ask yourself include:
“Do I really know this to be the case or am I assuming it?
Your first CFO role will involve a big step change in responsibility and take you right to the edge of your comfort zone and beyond. You need to stay resilient in order to survive. Dr Russell Thackeray is a psychologist and psychotherapist who specialises in resilience and frequently coaches c-suite executives. He shares his expertise on the GrowCFO Show
Dr Russell Thackeray started his career as a professional musician before a career in sales and marketing. he has been CEO of a law firm and founded a major training business. These days he operates an organisational development consultancy and coaching business. He has worked with a diverse range of organisations including Central and Local Government, the National Health Service, Mercedes Benz, GKN, The Guardian, Hyundai, QinetiQ and Asda as well as for Private Equity and Venture Capitalists. As an entrepreneur, he has grown a number of organisations and has worked in the investment space with a number of UK Private Equity companies, including some major UK universities, to help them build the best people to ‘ramp up’ their investments. He is also a non-executive director of a number of digital businesses including lifestyle transformation and cruise travel companies.
Is it difficult to stay resilient in your first CFO role?
Russell believes there are many challenges faced by the first time CFO that will call upon the new CFO's resilience.
As a new CFO you have been working hard to land your first chance to do the top job. You have aspired to the role for a long time, but its a massive step up. The fight to win the job was tough, but it's only the start. Now the really hard work starts, so yes its going to take all the resilience you have in order to survive and then thrive.
Russell identifies two possible scenarios
Scenario 1: You rise to the new challenge, and perform well. but find it really stretches you and overwhelm comes from the volume and variety of work you need to undertake and the need to operate at a whole new level
Scenario 2: You perform poorly, you struggle with the huge range of new skills needed to do the top job. You were comfortable as head of the finance function, but the new role is a million miles from your comfort zone. You struggle to deal with your new senior colleagues, and overwhelm gets the better of you.
How do you stay resilient in Scenario 1?
A major issue in scenario 1 is that your personal time gets squeezed. You have little time to do personal development and your own training goes out the window. Your wellbeing is at risk from the overwhelm of your new responsibilities. To stay resilient you must:
Learn to leave behind the job you did before, you can't afford to hang on to the safety security & comfort of the finance functionIf your new job is in the same company then make sure you have replaced yourself with a great number 2If your new job is in a different company then make sure the team around you is strong and capable to support youYou can't be the outward face of the company while still looking inward, so you must be ruthless and jettison what you brought with you.Avoid the familiar, throw yourself into the stuff you aren't good at. You will become good at it in time.You need a good mentor. We discussed mentoring in episode 5 of the GrowCFO Show Don't be afraid to ask for help. Asking for help isn't a sign of weaknessFind the natural rhythm of your job. The regular requirements of the job won't be apparent at first, you need time to settle in.Let your team do the technical stuff, you don't need to be the expert in everything
How do you stay resilient in Scenario 2?
The issue is you have bitten off way more than you can chew. You are drowning. You don't have all the skills to do the CFO role.
Maybe you have been over promoted and shouldn't be doing the job. There's actually no harm in admitting this if it is the case. Not admitting it can be more dangerous,
There are many different ways to become a CFO. In this episode of the GrowCFO Show Kevin Appleby explores the seven main routes to that top job with GrowCFO founder Dan Wells. We discuss which route is best. We look at the advantages and disadvantages of each. Then we conclude by looking at what help and support you might need depending on which route you take.
The road to becoming a CFO isn't a straightforward one. Generally when recruitment agencies are engaged to find a CFO they are looking for experience. Most of the time their ideal candidate will already be a CFO. So if that is the case then how do you get that elusive first CFO opportunity?
Fortunately using a recruitment agency isn't the only way to secure a CFO role. You have a few other options. Dan Wells talks us through 7 different routes to the top job. We look at the pros and cons of each. 1) Become a CFO through internal promotion In our survey earlier the year 52% of GrowCFO members who replied felt that an internal promotion is the best route to securing your first CFO role. This allows you to build your knowledge of the company’s industry and products. You can develop your relationships with key internal stakeholders and grow into the role.
There are downsides to this route. You may be typecast into your previous role and some people may not truly recognise you as the CFO. Its also possible to get held back by still having to perform your old role. If you choose this route its vital that you recruit a good number 2 to support you and backfill your old job. 2) Take a role as CFO in a start up Joining an early stage company as their new CFO is one of the most effective routes for landing your first CFO role. 24% of our survey responses suggested this was the best way. This involves leveraging your experience of working in a more complex scaled up business in order to become an attractive CFO candidate at a smaller company. The fast growing start up will certainly challenge you. It will stretch you right to the edge of your comfort zone and beyond. You may feel very lonely with little support as you are likely to be the only qualified accountant in the business.
If you find yourself as a first time CFO in a startup then some of the best advice is to find a good support network. A mentor who is an older much more experienced CFO might be essential to your success. 3) A startup financial controller will often grow into a CFO A good number of people suggest joining a start-up company as their Financial Controller. The FC will lead the finance team and can grow into the CFO role as the business scales. Many finance leaders have taken this approach. It provides you with the opportunity to take on more responsibility, learn new skills and impress your employers. However you take a risk. The company may fail to achieve its growth target and your role doesn't evolve. You might not be first choice for CFO. The business recruits another candidate into a future CFO role ahead of you. 4) Become a CFO via a divisional FD role A divisional FD role can carry a huge amount of responsibility and expose you to many of the skills a future CFO will need to demonstrate. It's likely that this role can give you board experience, and you will be required to support the overall CFO of the organisation. The divisional FD role at a larger company to be a good progression towards a future entrepreneurial business CFO role. Divisional FDs typically develop a range of relevant skills. These might include data analysis, operational activities and strategic initiatives. Chances are you will need to change employer to progress to CFO, so the downside is you will be up against some very experienced candidates in the job market. 5) Be a part time of portfolio CFO You might consider becoming a part-time FD for smaller companies. This way you can gain the necessary skills and experience to progress into a future CFO role. Historically the portfolio role has been the preserve of CFOs ...
David B Horne is a CFO who has written a best selling business book, "Add then Multiply". The book describes his FACE methodology for growing and exiting a business, and is great reading for CEOs and CFOs alike. He trained as a chartered accountant with PWC in Canada. Because he can speak fluent German, he wanted to work in a German-speaking office and so he went to Switzerland. From there, he got offered a job by his biggest clients and then transferred with them to London. These days he works as a portfolio CFO advising clients undertaking major transactions.
Add then Multiply David B Horne is a CFO who has written a best selling business book. His book "Add then Multiply" was published in July 2019 and went to no. 1 on Amazon. In March 2020 Add then Multiply won the business self development category at the business book awards. You can buy Add then Multiply on Amazon
Who is Add then Multiply for? CEO's and CFO's who want to fundraise and grow quickly through acquisition.
Are you frustrated by the challenges of growing your business organically? Have you ever wondered if there was a way to grow exponentially? Fast? There is a better way but you’ll need to break a few rules in your thinking about business. This book shows you how. What Add then Multiply all about? Add then Multiply describes David's FACE methodology:
Fund Acquire Consolidate Exit
The FACE methodology is about getting step-by-step exponential growth in your business. It's about selling and buying businesses for growth and development. F is for Fund This is all about the process by which you raise money. How do you go about doing that? What do you have to prepare and what are the different types of investors (family and friends for early stage, angels, and then more institutional means like venture capital). A is for Acquire Acquire within David's framework is for more established businesses who want to scale up. The fastest way is through acquisition. David wrote many case studies for this in his book. The key point is that, if you've never done this before, don't try do it on your own. There are minefields out there. You need professional people who know what they're talking about there with you. C is for Consolidate Putting two businesses together. The key challenges are values and culture. The value destruction that comes after a small company and big company are acquired and merged is almost like night follows day for some. But, David does have some examples where it worked. E is for Exit Realising your dreams. Begin with the end in mind. A lot of entrepreneurs start off because they've never really though about their 'why' and the drive that pushes you in your endeavours. David shares his advice for first time CFOs David's first CFO role was in a very acquisitive PR group. He learned a huge amount about fast growth through acquisition in. a cash rich company. He learned many other lessons in a big step up from a no2 role
Listen to advice from peers or coaches and mentors. We explored the importance of this on a previous episode of the GrowCFO Show The need to form strong relationships with the rest of the c-suite. David found he needed to change his attitude to many people. He learned to say sorry and apologise for behaving badly. This leads to gaining trust and the ability to work collaboratively. Some of these relationships can last through an entire career, and usually they are the relationships you might thin are the least important at the time. The importance of networking. People can introduce you to people. Relationships are really important. David & Kevin first met via LinkedIn to record an episode of "The Next 100 Days Podcast"
Fundraising during Covid-19 David is fundraising right now. There's money still there, but it's a little harder to access. Funders are looking closely at valuations, and looking at risks of recession. Some funds couldn't invest early in 2020, so to some extent deals that weren't done are now bei...
Justin Leigh from focus4growth joins the GrowCFO Show to discuss the CFO's role in supporting profitable business growth. We look at the Psychology, skills and systems needed to drive that growth and why the CFO is well placed to drive the business change that is needed.
About Justin Leigh Justin's background is working in large corporations including 3M. He has worked in sales, sales leadership and business leadership.
He set up his own company 3 years ago, specialising in providing training coaching & consultancy to unlock growth potential in businesses
Over his career Justin has worked alongside a number of CFOs. He sees the CFO role as vital to delivering profitable business growth. The key role of the CFO in this context is to help map out strategies for growth programmes, and provide resources from the finance team to undertake more detailed business modelling. Why is profitable business growth so important? Thats actually quite simple. Delivering extra profitable revenue can make a huge Impact on the p&l. It can be a game changer, and is the easiest way to remove other obstacles & issues in the business. Growth unlocks all sorts of opportunities.
Executing profitable business growth isn't quite that simple though. It takes planning and focussed execution. Lots of analysis of plans and seeking out opportunities is where it always starts, with one key question. How do I over deliver revenue growth?
role of CFO in this analysis is key, but the role of the CFO is so broad that focus on programmes that drive the top line can be overlooked. How does the CFO support profitable business growth? Revenue comes from a portfolio of products, but not all products are equal. Some will be more profitable than others. Growth by itself is not sufficient. First there's a need to identify the most profitable parts of the portfolio. Then address product & portfolio mix, developing the most profitable parts of portfolio.
The CFO helps with high level strategy, his team supporting with the detailed analysis. Understanding product and customer profitability isn't always straightforward.
The CFO has a big change role during implementation. The budget is a very effective way of driving the change. ZBB can be used to make sure the right areas are emphasised, and budget is taken away from less profitable bits of the business. The budget drives a change management approach. What stops the CFO getting involved? Volume of work is often the biggest obstacle. The CFO gets involved in a broad range of initiatives and is often overloaded. Big tech projects don't help, the CFO is increasingly getting involved in these.
Aside from this, Justin believes the biggest issue to overcome is restrictive beliefs. "We tried that before" is a common thing that needs to be overcome. You need psychology to be right. To break through and unlock the opportunities. You need to change the perspective of what is possible. The 3 Step process to profitable business growth Justin teaches a 3 stage process.
Psychology Skills Systems
A growth mindset is vitally important. The business team rarely meets just to discuss growth and how each function contributes to it. In workshops Justin will challenge each member of the business team with the same question. How does your role contribute to growth in the organisation?
Once psychology and mindset are sorted only then can you move on to step 2 and consider what skills are lacking. Usually its about relationship building and becoming provider of choice. Its rarely about pitching. CFO and finance has a role here. Finance need to build models to support deals. The CFO might be involved in meetings with clients. The clients finance people might work with his own team to help structure deals and consider how to make it affordable. Finance needs more customer facing skills. Moving from functional head to business leader Justin's experience is that outstanding individual contributors get promoted.
Andrew Waters has been involved in finance search and recruitment for the last 15 years. He's recruited quite a number of CFO roles. So when it comes to securing that elusive first CFO role then Andrew knows a thing or two. On this episode of the GrowCFO Show we chat about the qualities that a first time CFO needs to have. We also take a look at the state of the recruitment market. we conclude by talking about how the future CFO programme at GrowCFO can help you secure that first CFO role
About Andrew Waters
Andrew waters is co-founder of Zanda.
The biggest challenge in securing your first CFO role
CEOs look for experience, and the biggest challenge is to demonstrate you have this. Generally they want someone who has done it before, an experienced CFO, so getting the first role is a huge challenge. Its likely that the candidate will have to demonstrate an ability to:
Be a true business partner to the CEOlead an investment roleProve commencial awarenessmust be able to influence board
The last point is one of the most difficult if its a first CFO role. Its likely other board members will have years more experience and are better placed to understand the business and the sector it operates in. The new CFO has to hit the ground running with a helicopter view of the sector and how it works.
So How do you leap from head of finance to first CFO role?
within FTSE or large private equity can manage several in eternal promotions and eventually het to partner with divisional CFO. Then make jump externally
In smaller business work way up to no 2 to CFO with controller & FP&A reporting to you, prove you are a strong no 2 and been across all the detail, had some exposure to transactions.
Does a first time CFO need all the skills?
Whether you need all the skills in your first CFO role really depends on the individual opportunity. It will hinge around the skills of the CFO and whether there is good finance support from a strong group controller.
The balance of skills required by a CFO is also constantly evolving. 10 years ago it was important the CFO had an operations focus. In the next 5 years the CFO is more likely to need strong data skills and have an information officer as a direct report.
Sometimes a roll can need strong tech skills, other times strong transactional skills. It all depends on the company and the other people already in the team.
Whats the market like right now?
The CFO recruitment market is very strong right now. From March - July there was virtually virtually no movement. Lots of roles were put on hold, many of these have come back and are now being actively recruited.
This August has been better than previous years, September is on a par with a normal year. Zanda deals with a lot of tech firms, lots of venture capital needs to be deployed and for many of these pandemic has been an accelerator.
GrowCFO Future CFO Cohort Programme
GrowCFO are actively developing future CFOs through the Future CFO programme. This includes a Cohort Andrew started planning the programme with Dan Wells just before lockdown.
Each cohort is formed from a group of peers all pursuing a CFO role in the next 12 - 24 months. It comprises a group of 10/12 people from diverse but complimentary backgrounds. The peers support each other through the development challenges. It takes people on a journey over 12 months with a 2-3 hours a month commitment.
The first 6 months focusses on the CFO development toolkit. This looks at all the skills and experiences a CFO will need, and is broken down into 10 core competencies:
LeadershipCore qualitiesTechnical strengthTechnology advocateCommercial awarenessStrategic Business PartnerOperational driversClosing the booksTransactionsFinancial Planning and Analysis
This identifies strengths & development areas and gives a development plan and a route to grow into the CFO role over the next 12 months.
Helen Cowan runs The Tall Wall, a coaching company that specialises in coaching ladies in senior leadership roles. Helen also leads the Women Finance Leaders group within the GrowCFO community. We chat about the issues that affect women finance leaders and the typical challenges she helps her lady clients overcome.
About Helen Cowan Helen Cowan is an accountant and worked extensively on M&A projects within the big 4 before discovering her passion for coaching. She was fascinated by the way people performed. Helen was asked if she wanted to train to become a coach. She took that opportunity to re-skill and become part of KPMG's team coaching directors and partners. Ultimately this has led to Helen setting up her own business, The Tall Wall, and pursuing her passion.
The Tall Wall is an executive coaching business that specialises in working with female leaders and high potential women in professional services and large corporates. The business supports women, helping ladies go as far as they want to in their careers.
Helen also leads the women finance leaders group in the GrowCFO community.
If you want to take part in the monthly meetings of the women finance leaders group, they are open to all members of the free GrowCFO community. If you haven't already done so, why not join the community today? What issues does the women finance leaders group address? So far the women finance leaders group have identified three big issues that they want to work with Helen to address. These are:
Imposter syndrome Branding Having difficult conversations
The group operates as a discussion and self help forum,. with help and guidance from Helen and her colleagues. Helen uses the collective wisdom of the group to find ways through the challenges. Members of the group are at all sorts of different stages in careers, but have tremendous talent. An impressive group of ladies! Imposter Syndrome We talked about imposter syndrome last week on the podcast with GrowCFO mentor Catherine Clark
The group is really powerful and full of wisdom, but most members will admit to suffering imposter syndrome to some degree. Through the group though women can normalise their feelings and thats the start of the way through the problem.
Its a surprise finding imposter syndrome to be a problem among such a high calibre group. Helen and Kevin reflect that its something they have both seen among newly appointed partners in the big 4 even though the individuals are more than capable.
Helen believes that a good deal of the problem stems from comparing your inner to every one else's outer. You see someone who is apparently performing well and full of confidence, but you never realise that the other person has all the same insecurities that you do.
When people, men or women take on big roles, whether partner or CFO, it's natural to have some self doubt. Remember that 8 out of 10 people have the same feelings as you. Personal branding for women finance leaders Harvey Coleman's research in the 1990's shows that excelling at your job is only 10% of getting ahead. 30% is about impact and the impression you create. The remaining 60% is about your exposure. Who of influence knows how good you are? Many women will take the view the if you keep your head down and do a good job someone will noice you. Trouble is Harvey's research shows this is not true
https://amzn.to/2GgOXBN
Women are often conditioned not to brag and not veto blow their own trumpet. This is the crux of the matter and must be addressed, but in the right way.
Stage one is an audit of your network:
who has noticed the good work Who is missing from that list, What opportunities have you to shine in front of that person
Stage 2 is what gets in the way of you shining, and in practice this is often back to imposter syndrome. Maternity leave What are the big issues and how do you address them? Helen believes that the best organisations invest heavil...
Catherine Clark is this week's guest on the GrowCFO Show. Catherine provides mentoring for CFOs and is part of GrowCFO's own mentoring team. We discuss the role of a mentor, the common issues that Catherine finds with her CFO clients, and how mentoring for CFOs can add value for both you the CFO and your organisation.
About Catherine Clark Catherine Clark is a chartered accountant, she qualified with KPMG, and worked for several companies before taking on a role as CFO of a global consultancy, giving her 10 years of boardroom experience. During this time she became really keen on both developing herself and her team. The CFO mentoring her own finance team Catherine mentored her own team members. She found conversations with the team very honest. Because she saw people every day she knew their strength & weaknesses. Her people knew she was coming from a position of support, so this led to good quality trusting relationships. Mentoring CEOs in the not for profit sector Alongside her day job Catherine joined a scheme that matched women from the commercial sector to women CEOs in not for profit organisations. Supporting these CEOs made her realise she had a real liking for being a mentor and supporting other C-suite individuals.
Catherine found she was addressing two common issues; self confidence; and self esteem. She discovered her real passion is to help people overcome these.
These same problems are common across everyone. Catherine finds that its not just CEOs in the not for profit sector, but just about every leader she mentors. Imposter syndrome is a common problem At the core of these issues is something called Imposter syndrome. In short, people think they don't deserve to be where they are. This, of course, isn't true. Catherine finds people need to understand what holds them back before she can help them move on. She generally does lots of work on limiting beliefs. Catherine works with people on their strengths, this makes them affirm why they are so good.
One of Catherine's techniques is to take folk back to successes they have had in life, analyse the success, and appreciate the strengths that made it happen. What makes for a successful mentoring relationship? A successful mentoring relationship is all about developing trust. This starts with a chemistry call of about 30 minutes. Thats where trust first established, but builds over time.
Mentoring is always confidential. The mentors job is to actively listen and be a sounding board. It's as much about the mentee realising they can get to their own answer as it is supplying the answer.
The mentor needs lots of energy, being present in the conversation is vitally important. Catherine finds she must be in right frame of mind for every mentoring call so can't do lots back to back. She gets into right mindset by maintaining right balance in her life. Yoga, walking and some kind of personal mental or physical activity every day get her in the right place. This way she can turn up in every session as the best version of herself. Mentoring for CFOs. How does it work? What does mentoring for CFOs look like? How does it work?
Catherine likes to have a flexible arrangement that can be tailored to the needs of the individual CFO. Mentoring for CFOs will usually happen across 6 or 12 sessions. These sessions usually take place monthly.
Catherine has a structure, but prefers to work on what is affecting the CFO at the time. She works from current issues, but using a toolbox of things that can be adapted to the situation. Its a very practical hands on way of giving support. What key issues crop up? CFOs often believe they can't ask for support, so turning to a mentor for help doesn't feel natural. Often the CFO feels isolated, and therefore might need reassurance. The mentors job is might be to validate the CFOs thinking. For example the CFO checking a strategy process is being driven in the right way.
One big challenge is the amount of new stuff the CFO needs to quickl...
In April 2020 GrowCFO undertook a major finance systems survey. Dan Wells surveyed the entire GrowCFO membership, so the survey combines the experiences and opinions of several hundred CFOs. The GrowCFO membership includes CFOs from many industries and a whole range of business sizes. The finance systems survey gives us a great independent view of the landscape.
Who took part in the Finance Systems Survey?
Good spread of responses across sector, industry and size 32 different accounting systems represented 29% Single Entity Organisations V 71% Multi-Entity Organisations 27% Single Currency V 73% Multi-Currency Organisations
What finance systems are GrowCFO members using?
Startup / Small Business - majority will complete implementation inside 1 month / Mostly self service implementation without support (Less than £1,000) Xero is dominant. Quickbooks, Sage 50, Free Agent less so Mid-Sized Businesses - majority will complete in 1-3 months / Needs support to implement by the provider (£10,000 - £100,000) Aqilla and Netsuite performed well. Financial Force, SAP Business One, Microsoft Dynamics and InforSunsystems less so. Enterprise Businesses - majority over 6 months to implement with many > 1 year / Help required typically from a Third Party (£250,000 +) Workday and SAP Hana performed well - Oracle ERP less so - Unit4 not representedA number of people still only using Excel (Not just startups)
To what extent are businesses using a cloud solution?
70% suggested using cloud products / 26% suggested using On-premise: with remote access / 4% suggested using On-premise: without remote access
We suspect this is misleading as some have answered cloud despite using known on-premise (hosted) solutions. Highlights the mis education of true cloud. The ability to access remotely does not necessarily imply a cloud solution. What does the finance systems survey tell us about quality of software?
66% of responders rated their software's sophistication lower than 7 64% of responders with multiple entities say their software cannot manage consolidations 43% of responders with a multi-currency requirement said it performed average at best 30% of responders had done no integration yet Of those that had done integration,, Expenses, CRM, BI, Excel were most popular Only 42% people felt they would be using their system again in 5 years 11% would not recommend their solution to anyone! 92% of responders can access the software remotely (cloud or remote access to on-premise) Only 50% of responders get automatic updates 25% of responders rated their finance system a 5 or less with respect to it how closely it meets their current requirements / 46% 8 or above 10% currently looking to replace Of the 16 mainstream systems reviewed, only 7 performed 7 or higher for 'Meets Requirements'
Its generally accepted that you're doing well if your system does 80% of what you need it to. Once you are doing more outside your system than inside, its a true sign you need to make a change. What does the survey tell us about the future? The top 5 innovations responders plan to implement in the years ahead are:
API Integrations Advanced Business Intelligence Workflows Mobile Expenses Cloud Technology
Only 5% suggested they would not be implementing anything - the adoption of tech is in front of mind In summary the GrowCFO Finance Systems Survey shows:
Modern cloud tech was the overall clear winner A lot of businesses appear to 'settle' for their software and find workarounds to fill voids Many poor systems are still in use. This may be fear of cost to change Current system might do more than you suspect - especially if handover from your predecessor lacked information in this area. Poor account management may also be a factor - challenge them about what is possible. If foundations are not right, future plans will eventually suffer.
Stuart Trood is a portfolio CFO. He undertakes the CFO role for a number of different clients, each on a part time basis. We caught up with Stuart to find out more about the work of the portfolio CFO and find out how to become one. Stuart also explains to us the importance of a support network of fellow portfolio CFOs.
Stuart Trood portfolio CFO Stuart Trood has undertaken previous full time roles as both a CFO and a CEO. He worked for a range of businesses from large corporations to startups over a period of 30 years. Stuart wanted to take this experience and use it to help smaller businesses. Stuart wants the choice of working for businesses that interest him. He also wants freedom in the way he can use his time. He manages his commitments to maximise the time he can spend working on the things he enjoys most and to achieve a better balance between work and family life. Stuart became a portfolio CFO following the sale of his previous business. Following the sale he wanted to do something completely different and ddeliberately chose not to return to corporate life. Does a portfolio CFO work fewer hours? The portfolio CFO has the ability to work as much or as little as he chooses. The big challenge is balancing what you want to do and how you want to work with demands of the client. Stuart doesn't work any less but has more choice in what he does and when he does it. He wants to be involved in managing the business and not just the numbers. The portfolio CFO has more choice and can easily get involved in direction and strategy of the business in a hands on way. This may mean he works more rather than less. How do you switch from corporate to portfolio CFO? Stuart was fortunate. His transition was relatively easy. Following a business sale he got his first portfolio role quite quickly, but didn't have the financial pressure of needing to immediately find other roles. He had time to develop his portfolio.
Stuart found networking a key requirement. Joining the right networking groups is important. No matter how much you network its unlikely that everything will come together immediately. You need to be patient while your portfolio develops. You also need to be dogmatic, and stick with your vision. Its all too easy to give up too soon or take an opportunity that doesn't align with what you really want to do because you simply need the income.
There are various agencies for portfolio CFOs that will help you find work. Its worth investigating these. You can register with more that one. Covid-19 has changed the market Covid -19 seems to have increased the opportunities for portfolio CFOs. This has happened in two ways:
Some businesses are struggling to afford a full time finance professional. They realise they can buy part time support from a portfolio CFO rather than employing their own CFO. Other businesses may never have employed a senior finance person. They are realising they need extra support. Many of these can't afford the extra member of staff but may be able to afford one or two days a week from a portfolio CFO.
What does Portfolio CFO do? The portfolio CFO isn't necessarily doing the books and the accounts. He may take on more of an oversight role. Alternately he might have more of a project focus. This can be business turnaround, or doing finance transformation.
On the other hand, the portfolio CFO might find it interesting to go back to the basics. It can be refreshing after corporate to be more hands on again. He can do some bookkeeping and use systems like Xero "hands-on".
Stuart has found lots of variety. Covid has meant he has been involved in loan applications and managing the furlough scheme for his clients. Can GrowCFO help the portfolio CFO? Stuart originally came into contact with Dan Wells and the GrowCFO network because he wanted new networking opportunities with his peers. He has ended up running the portfolio CFOs community within GrowCFO.
This week's GrowCFO Show guest is Chris Tredwell. Chris runs the Future of the Finance Function topic in GrowCFO. Chris hosts a regular weekly live session over Zoom discussing the many different aspects of the topic. These sessions are free for any member of the GrowCFO community to attend.
Introducing Chris Tredwell Chris Tredwell is currently part of the team at Aqilla. Before Aqilla he worked for a series of innovative tech companies from various industries. This led him to working with business and individuals all over the world. His passion is to help his customers address their toughest problems and work with them to find best in class solutions.
Chris has international experience that spans SME’s, blue chip organisations, government entities as well as Industry associations and startups. He has managed relationships throughout the business hierarchy from entry level professionals through to C suite executives. Who are Aqilla? Aqilla is a modern Cloud based, multi currency accounting solution designed to suit the needs of demanding mid-sized (mid market) organisations. Its one of the systems to look at when you have outgrown Xero and Quickbooks. Gartner describes Aqilla as "Post modern ERP". What is the future of the finance function? The aim of future of the finance function is to allow CFOs to collaborate and understand the issues that the modern finance function needs to tackle to stay abreast of technology. The format is a weekly meeting, every Tuesday, using Zoom. The Zoom call is open to all members of the GrowCFO portal. These sessions can be discussions amongst members, or a subject matter expert giving a presentation followed by a Q&A.
Chris arranges and chairs each session. Though he works for Aqilla, he remains impartial and the future of the finance function sessions are generally technologically agnostic.
We record each session. Recordings are published within the premium section of GrowCFO meaning that premium members can access the back catalogue of topics covered whenever they need. What topics has Future of the Finance Function covered? The very first session was an open discussion amongst members and this highlighted quite a number of areas that the community wanted to explore further. From this Chris compiled a list of topics for future sessions, the things that CFOs wanted most. So far these have covered:
Remote finance function, a very timely session as many CFOs were struggling with remote working at the beginning of lockdown The results of the finance systems survey, where the community pooled their combined experience. Automation and integration. This continues to be one of the hottest topics CFOs want to know more about BI tools helping CFOs provide more insights into their business. Managing change. Most CFOs haven't been trained in change and lack skills in this area. Blockchain & Cryptocurrency, the Wild West for many CFOs. Digital Transformation, which impacts the whole business and draws the CFO out of his comfort zone.
Just joining GrowCFO now? Don't worry, you haven't missed out on all of this. We record every session. Become a premium member and theres a whole back catalogue of recordings you can access. How does the Future of the Finance Function community work? Many CFOs have made the leap from a financial accounting role into the boardroom. GrowCFO helps those CFOs develop the skills they need to become a strategic advisor to the board. Some members aspire to be the next generation of CFO while others have many years of experience. GrowCFO's role is to allow you to collaborate and network.
The future of the finance community is all about sharing knowledge. You can learn from other CFOs who have been there and done it. Many CFOs feel isolated and the CFO community can help break this. Future topics There's still lots to talk about. Some of the topics in the pipeline include:
Making tax digital which is fast becoming a hot ...
Welcome to the very first episode of the GrowCFO Show. In this episode Kevin Appleby chats to GrowCFO founder, Dan Wells, about why he left the "big 4" to set up the GrowCFO network. We chat about GrowCFO and what it offers to both existing and aspiring chief financial officers.
Play the audio version
Or watch the video
https://youtu.be/IzGeW50AehU
Who is GrowCFO founder Dan Wells?
Dan is a chartered accountant with almost 20 years experience in the big 4. Latterly he was an equity partner in KPMG. His role made him a trusted business advisor to entrepreneurial businesses who have built and sold their companies for a combined billions of pounds. He is an FCA member of the ICAEW (ACA-qualified in 2004) and has a first-class degree in mathematics from Durham University. Dan has a great working knowledge of most common business challenges and opportunities, and a strong track record of supporting businesses and their key executives throughout their life cycles.
You can check out Dan's LinkedIn profile
Why did Dan Found GrowCFO
Dan met many CFOs as part of his last big 4 role. There was a common question that they all asked him. He found that CFOs always wanted to know what their peers were doing. Dan realised the finance community needed a easy way to collaborate. CFOs needed a place they could share their knowledge, network, and talk about shared issues.
Dan observed that CFOs often feel lonely, and have few people to turn to within their own organisation or immediate circle of associates for good advice or to debate issues. Dan decided to do something to solve the problem and started GrowCFO. The initial GrowCFO portal contained interesting articles and allowed the community to start talking and sharing.
GrowCFO arranged many Zoom session, allowing members to chat about interesting topics. These really developed during the early stages of lockdown when CFOs were keen to chat to their peers and find out how each other were coping in crisis.
These discussions lead to GrowCFO developing white papers, particularly looking at how individual industry groups were being affected by Covid-19.
Polls and surveys have followed, and these have been a great way of bringing together the expanse of members knowledge into easy to distil findings.
Who is GrowCFO intended to help?
Dan sees four distinct groups of GrowCFO member
Future CFOs; those that aspire to take on the CFO role in the near future.1st Time CFOs, still growing into the role and wanting to extend their skills and knowledgeExperienced CFOs with lots of experience to share with the communityPortfolio CFOs, working part time across a number of different organisations.
GrowCFO gives something specific and unique to each of the 4 groups, but the dynamics of these 4 types of finance leader collaborating and sharing with each other collectively is very powerful.
The role of the CFO is constantly evolving, and there are always new things to keep up with and learn about irrespective of your background or years of experience.
The Future CFO programme
The GrowCFO Future CFO programme has been borne out of lots of discussion with our community of aspiring CFOs. The next generation of finance leaders. We realised that something needed to be done to help folk who had moved up through financial controller and head of finance roles to transition from back office to boardroom.
Most business accountants qualify early in their career, and learned about the basics of accounting, law, tax, and financial reporting. They now need to be future facing and operate strategically at board level. The big challenge is learning how to become the catalyst of change in the organisation.
The Future CFO programme is mostly online self paced learning, and can be found in the GrowCFO learning centre. It contains lots of individual lessons, many with video input from our experienced CFO community.