“Annual Planning Is So Last Year” – Ross Grainger, CFO of Paradox, on What He Does Instead
Run the Numbers
Intro
This chapter explores the shift from traditional annual planning to a more dynamic approach that requires monthly reassessment of forecasts and budgets. It also highlights the significance of work-life integration, career paths, and the vital communication between CFOs and their financial teams in fostering effective leadership.
In this episode, CJ interviews Ross Grainger, the CFO of Paradox, to discuss work-life integration (instead of balance), why the corporate ladder is less like a ladder and more like a jungle gym, and the hallmarks of a great CFO/FP&A/controller relationship. He starts by sharing his own unconventional career journey and talks about the importance of the hustle, giving examples from his own life of periods when things were weighted towards life or work and how this benefited him. He also describes why the career ladder is more like a jungle gym and gives examples of times when he had to step backwards or sideways to get ahead. He sheds light on the value of investing in work relationships outside of finance, such as product marketing and sales, before discussing the hallmarks of a good CFO/controller/FP&A relationship. With a team in Vietnam, he gives advice on how to expand internationally. The episode includes an explanation of why Ross doesn’t believe in annual planning, what he does instead, and how he justifies this to the board.
If you're looking for an ERP head to NetSuite: https://netsuite.com/metrics and get a customized KPI checklist.
—
SPONSORS:
Operators Guild is where the best CEOs, CFOs, VPs of finance, and BizOps leaders in the business connect, network, and grow together. Built by operators for operators, this members-only community is home to more than 1000 of the most elite high-growth operators in the world. Experience connection and knowledge share with professionals who understand you like no one else does. Learn more and apply at operators-guild.com.
Maxio is the only billing and financial operations platform that was purpose built for B2B SaaS. They're helping SaaS finance teams automate billing and revenue recognition, manage collections and payments, and put together investor grade reporting packages. 🚀 Request a demo at www.maxio.com/runthenumbers for 10% off your first year.
RemoFirst is a full-service Employer of Record solution that handles all your global employment needs. RemoFirst can help you navigate the maze of regulations and logistical challenges to onboard employees and contractors from anywhere in the world and streamline payroll, taxes, and compliances. Get two months free on EOR fees for your first hire in any country by visiting RemoFirst.com/metrics.
Mercury is the fintech ambitious companies use for banking and all their financial workflows. With a powerful bank account at the center of their operations, companies can make better financial decisions and ensure that every dollar spent aligns with company priorities. That's why over 100K startups choose Mercury to confidently run all their financial operations with the precision, control, and focus they need to operate at their best. Learn more at mercury.com.
Mercury is a financial technology company, not a bank. Banking services provided by Choice Financial Group and Evolve Bank & Trust®; Members FDIC.
NetSuite provides financial software for all your business needs. More than 40,000 companies have already upgraded to NetSuite, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you're looking for an ERP platform ✅, head to NetSuite https://netsuite.com/metrics and get the CFO’s Guide to AI and Machine Learning.
—
FOLLOW US ON X:
@cjgustafson222 (CJ)
—
TIMESTAMPS:
(00:00) Preview and Intro
(02:08) Sponsor – Operators Guild | Maxio
(06:00) Work-Life Integration Versus Work-Life Balance
(09:15) The Importance of the Hustle
(10:53) Periods of Ross’s Life That Were Weighted Towards Life or Work
(12:54) Why It’s Not a Career Ladder but a Jungle Gym
(16:38) Sponsor – RemoFirst | Mercury | NetSuite
(20:27) Examples of Downward Career Moves That Got Ross Ahead
(25:17) The Value of Work Relationships Outside of Finance
(29:30) The Hallmarks of a Good CFO/Controller/FP&A Relationship
(32:38) Paradox’s Team in Vietnam and How to Expand Internationally
(37:11) Ross’s Views on R&D Spend and Advice on Payback Periods
(39:27) Why Ross Doesn’t Believe in Annual Planning
(42:18) Justifying This Flexibility to the Board
(43:51) Communicating Bad News
(45:20) Long-Ass Lightning Round: Career Regrets
(46:41) Advice to Younger Self on the Hustle
(47:12) Finance Software Stack
(47:46) Craziest Expense Story
Get full access to Mostly metrics at www.mostlymetrics.com/subscribe
The AI-powered Podcast Player
