In this episode of the Revenue Builders podcast, John Kaplan and John McMahon talk to Managing Director of Madrona Venture Group Hope Cochran. Hope serves on the board of three public companies, Hasbro, Inc, MongoDB and NewRelic.
She is the former CFO of King Digital, the developer behind the phenomenal game Candy Crush. She is also the co-chair of OnBoarding Women, an organization that supports talented accomplished women in their journey to the boardroom. Website: https://onboardingwomen.org/.
Hope pulls the curtain back on what drives CFOs and gives sage advice on various areas of business, particularly in raising funds and ensuring that you can achieve healthy growth. However, Hope also advises that people should not be afraid to take risks and be open to learning. If it makes you nervous, she says, you’re in the right place.
HIGHLIGHTS
- There's more to one's LinkedIn profile
- Advice for entrepreneurs looking to raise money
- Lessons learned in launching Candy Crush
- Balancing overachievement and predictability
- Always aim for healthy growth
- Solutions vs cost justification
- CFOs need to be the ears of the company
- Working with Onboarding Women
QUOTES
Hope: "I am very mindful of markets and I am very mindful that when a market is open, I'll figure out how to get money. Because when the market turns off and that's when you need money, it's a rough spot."
Hope: "I'm always quick to stop talking about how much money are we taking in and what is the plan and what's our frame of mind of what we're doing with it. Meaning, what I want to see is money being applied to areas of growth labors. If we can spend more money and get more users or more adoption of the product, that makes a lot of sense."
Hope: "Lately, really what the markets have valued is growth. You have to be mindful about what we're looking at in terms of the markets, as well as the strength of the balance sheet. Assuming that the company has a good cash balance and we're not dealing with debt or areas of losing too much cash, clearly we want to propel growth."
Hope: "As a CFO, my most important thing is that my numbers are right. And I can do that by making sure my systems and processes keep up with the size of the organization. So I'm constantly ensuring that my systems are not too far behind my growth trajectory."
Hope: "Take a risk. When I think of the big movements in my career, they've been when I've jumped while taking a risk, when I've been nervous. I don't think I've ever taken a job that I felt like I was qualified for. Whenever it pushed me and made me uncomfortable, I knew that was the right job."
Learn More about Force Management here: www.forcemanagement.com
Check out John McMahon’s book here: https://www.amazon.com/Qualified-Sales-Leader-Proven-Lessons/dp/0578895064
