Jon Allen and Duke Heninger, of Utah-based Amplēo, have brought their finance game to fast-growing companies which are between $5m and $50m in revenue. They are “fractional CFOs” – that is experienced finance professionals advising these companies on a part-time basis. For instance, one business they work with, Korean barbeque restaurant Cupbop, appeared on ABC’s Shark Tank and got $1million from Mark Cuban in 2022. Other companies they advised include Burt Brothers (a tire and services company). Collectively Amplēo helped more than 3000 companies.
But they always find the same story when they look at financials at such companies.
“It’s always the data”, says Duke Heninger, Financial Partner at Amplēo. “It’s getting things put in a way so that people can understand what they’ve even spent. Most of my clients are on a very simplified accounting system. They aren’t classifying anything in separate departments. So it’s breaking it out, trying to understand who owns what, where should it go, and ultimately everybody just sandbags just so that they don’t trip a budget”.
In this episode of FP&A we meet Jon Allen Managing Partner, Finance, and Duke Heninger, finance partner at Amplēo.
They provide a masterclass on the value of FP&A at fast-growing companies, revealing:
- Our worst budget experiences
- Our journey through finance to CFO
- What we wish we had known earlier in our career
- Restaurants in COVID Times – how we used FP&A to help businesses
- The powerful value of FP&A in restaurants
- Why FP&A is a superb career choice
- Founding companies as finance leaders
- Teaching FP&A at University
- Why great FP&A must lead to actions and decisions
- How FP&A can become good business partners
- Reporting vs forecasting
- The importance of choosing a great finance leader to work for early in your career
- Getting out your chair and talking to people
- The last things we asked ChatGPT
Follow Duke Heninger:
https://www.linkedin.com/in/dukeh/
Follow Jon Allen
https://www.linkedin.com/in/jonnyallen/
Amplēo provides business professionals, such as CFOs, CMOs and CHROs, to companies on a fractional basis in order to help them achieve their full potential. https://ampleo.com/
FP&A Today