Profit Answer Man: Scaling with Profit First & Beyond Ep 239 The 7 Financial Questions You Need to Answer with Richard Bond
The 7 Financial Questions You Need to Answer with Richard Bond
Welcome to another insightful episode of The Profit Answer Man! Today, we are joined by Richard Bond, founder of Bond & Company, a boutique financial recruiting firm specializing in treasury finance and pricing. With over 35 years of experience, Richard has worked with major corporations and small businesses alike, offering invaluable insights into the challenges and strategies around recruiting the right financial talent. In this episode, Richard shares his unique perspective on how finance professionals can have a transformative impact on businesses, especially small to mid-sized companies that are often under-resourced in their finance departments.
In this episode, you will learn:
- The Importance of Hiring the Right Finance Person: Richard explains why having the right financial professional can make or break a business. He also discusses how to identify whether your business needs to upgrade its finance team.
- Overcoming the Fear of Finance: Many business owners shy away from diving into their financials, but Richard offers simple strategies to help them conquer this fear and gain more control over their financial outcomes.
- 7 Key Questions to Ask Yourself: Learn about the seven critical questions Richard developed to help business owners assess their financial health quickly and effectively. Answering these will give you immediate insights into whether your business needs a stronger financial foundation.
Key Takeaways:
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Small Companies, Big Impact: Richard emphasizes that small businesses can see dramatic improvements by hiring the right financial professionals, who can help streamline operations, reduce costs, and increase profitability.
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Fear of Firing the Controller: Many business owners are hesitant to make changes in their finance department out of fear, but Richard reassures that with proper guidance, these transitions can be smooth and lead to better financial stability.
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Finance as a Business Driver: Rather than seeing finance as just a back-office function, Richard advocates for making it a core part of strategic decision-making in your business.
Bio:
Richard Bond founded Bond & Company in 1986, and over the last 35 years, the firm has specialized in recruiting for treasury finance and pricing roles. Initially working with large entities like PepsiCo and PwC, Bond has recently focused on smaller companies, providing them with the financial expertise they need to grow. He holds an undergraduate degree from Lehigh University and an MBA from Wharton. Before transitioning into recruiting, he successfully doubled sales and profits in his family business. Richard currently resides in Pennsylvania and volunteers with The Acceleration Project, assisting small businesses with their financial strategies.
Conclusion:
If you're a business owner looking to take control of your finances, this episode offers valuable insights into the power of having the right financial talent on your team. Richard Bond's experience and practical advice provide actionable steps that can help you hire smarter, strengthen your financial position, and ultimately, improve your business's bottom line. Tune in, take notes, and see how these tips can transform your approach to financial management.
Links:
https://bondandcompany.com/ https://www.linkedin.com/in/richardrbond/
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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