CFO Skill Sets: Beyond Experience

In this episode, CJ talks to Jessica Lanier, CFO of Restaurant365 and the first CFO guest on the podcast who has firsthand experience as a founder. On top of this, every company she has worked for has been acquired, so she has a wealth of knowledge on all things M&A. She talks about what makes a great CEO-CFO relationship and why a good relationship with the CRO is also so important. She also explores the benefits of operating a company at scale and whether private and public companies require different skills. Jessica shares her most extreme experience of M&A, what finance leaders should expect after their companies are acquired, and the role of trust and credibility in this process. She also discusses her framework for evaluating a company you may want to work for, before offering profound advice on recognizing when you’re ready for your next role. 

If you're looking for an ERP head to NetSuite: https://netsuite.com/metrics and get a customized KPI checklist.

—

SPONSORS:

NetSuite provides financial software for all your business needs. More than 37,000 thousand 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 ✅ NetSuite: https://netsuite.com/metrics and get a customized KPI checklist. 

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.

Leapfin is accounting automation software that automatically prepares and posts reliable journal entries. High-growth businesses like Reddit, Canva, and Seat Geek choose Leapfin to eliminate manual tasks, accelerate month-end close, and enable accounting leaders to provide faster insights to help their companies grow. To automatically standardize your revenue data with measurable business impact, check out leapfin.com today. 

Planful is a financial performance management platform designed to streamline financial tasks for businesses. It helps with budgeting, closing the books, and financial reporting, all on a cloud-based platform. By improving the efficiency and accuracy of these processes, Planful allows businesses to make better financial decisions. Find out more at www.planful.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.

—

FOLLOW US ON X:

@cjgustafson222 (CJ)

—

TIMESTAMPS:

(00:00) Preview and Intro

(03:00) Sponsor - NetSuite | Maxio 

(05:44) How Being a Founder Makes You a Better CFO

(10:37) The CFO’s Role in Supporting the CEO

(13:07) The Hallmarks of a Good CFO-CRO Relationship

(17:00) Skills for Private Companies Versus Public Companies 

(20:34) The Benefits of Operating a Company at Scale

(22:52) Sponsor - Leapfin | Planful | Mercury 

(26:28) Important Qualities for Operating at Scale

(27:57) Re-interviewing for a Job After Being Acquired

(31:22) Jessica’s Most Extreme Experience of M&A

(34:45) Fairness, Trust, and Credibility in M&A

(39:07) What a CFO Should Expect After Their Company is Acquired

(43:22) Jessica’s Framework for Evaluating a Company

(50:08) How You Know You’re Ready for Your Next Role

(52:59) Long-ass Lightning Round: Hiring Mistakes and Other Advice

(57:02) Finance Software Stack

(58:16) Craziest Expense Story