Navigating Employee Expense Policies and Compliance Challenges

This chapter delves into the often perplexing and extravagant expense reports submitted by employees, emphasizing the need for clear travel and entertainment policies. The discussion highlights common issues in commercial organizations, such as costly meals and bottle service, while also acknowledging the informal tone of the podcast.

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Today on the number one podcast for CFOs, CJ talks to Nicolette Turner, CFO of Headspace. Nicolette shares her unconventional journey into her role and how she first came to work for the company during the pandemic while she was seven months pregnant with her first child. She explains why CFOs should use their company’s products and why and how they should talk directly to customers. Nicolette then sheds light on Headspace’s fascinating and complex business model that includes facets of a B2B, B2C, and B2B2C company. She discusses the challenges of forecasting the business, calculating customer acquisition costs and lifetime value, and monetization within this complex framework, as well as the unique working capital and cashflow challenges they face. She also shares hiring wisdom, including when to promote internally versus hiring externally, what she looks for in a resume, and how building a diverse team unlocks value, while also sharing tools for tough conversations with employees.

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@cjgustafson222 (CJ)

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TIMESTAMPS:

(00:00) Preview and Intro

(02:03) Sponsor - Leapfin | Planful

(04:08) Nicolette’s Unconventional Journey at Headspace

(12:13) Understanding Your Company’s Product

(14:05) Why and How CFOs Should Talk to Customers

(17:15) Numbers Are One-dimensional

(19:09) Sponsor - Mercury | NetSuite | Maxio

(22:31) Headspace’s Business Model: B2B, B2C, and B2B2C