Profit Answer Man: Scaling with Profit First & Beyond Ep 231 Building a Financial Team with Tom Anderson
Building a Financial Team with Tom Anderson
In this episode, we sit down with Tom, a seasoned business advisor with a career that spans over four decades. Starting in the 1980s at a Big Four international public accounting firm, Tom quickly rose through the ranks to establish his own firm, Anderson Business Advisory Services. His journey continued as he joined Tatum as a CFO Partner in Houston and later transitioned to O’Rourke Petroleum, where he excelled as CFO and eventually became President/COO.
Tom shares his belief that accounting is the language of business, emphasizing how mastering this language can significantly enhance understanding of a company's financial fundamentals. He also opens up about his passion for advising business owners and helping them achieve their visions. Tom's greatest strength lies in his ability to connect with people at all levels of an organization, making him an invaluable asset in any advisory role.
In this episode, you will learn the following:
- Importance of understanding the specific financial needs of the business.
- Comparison to purchasing assets like trucks or machinery (starting at a fraction of capacity and growing to full capacity).
- Benefits of having an in-house financial role versus renting/outsourcing.
- Long-term asset suitability versus short-term rental compromises.
- Building confidence and reassurance with bankers through frequent updates.
- Proactively addressing potential banker concerns before they arise.
Links:
Ferguson Alliance - Family Business Consultants & Advisors | Houston (ferguson-alliance.com)
Hi, I'm the Profit Answer Man Rocky Lalvani! I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz
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