GrowCFO Show

If you're looking to increase the value of your business, you're in the right place. In this episode, we will discuss methods that will help you triple your business valuation. By following the advice from Felix Velarde, you'll be able to get a higher return on investment when it comes time to sell your company. So what are you waiting for? Let's get started! Felix Velarde is a returning guest to the GrowCFO Show. Last time we talked about the role of the CFO in a high growth business strategy. This time we focus more on the things you need to do to make sure you get the best business valuation when you sell. We talk about the factors that make a difference, and why some company values get discounted. Felix tells us about his new business AVA Acquisitions, which specialises in buying agencies growing them fast and then selling them. The process Felix uses is laid out in his book Scale at Speed. It's not rocket science, he just applies the principles of developing and executing a good business growth strategy. He uses similar techniques to those we teach on GrowCFO's Business Strategy Bootcamp. Links Felix Velarde on LinkedIn Kevin Appleby on LinkedIn GrowCFO Business Strategy Boot Camp Buy scale at speed on Amazon UK or on amazon.com Listen to Felix in episode 65 of the GrowCFO Show and on The Next 100 Days Podcast Timestamps 0:12 Introducing Felix Velarde 4:11 Felix's new business, buying and scaling agencies. 8:09 What is a multiple of profit? 12:55 When selling an agency, you need to ensure the discount factors don’t apply to your business valuation. 16:59 The problem with waiting for a couple of years is that you are introducing risk by holding your own company. 21:27 What is a 3x programme? 26:39 What are the risk factors in a 3x business? 30:33 Why 3x doesn’t mean you’ve got to scale turnover by 3x to get the business valuation you want.

We've mentioned Susanna Serrano-Davey's upcoming book in previous episodes of the podcast. It's finally available to buy. Podcast host Kevin Appleby thought it was only right to spend an episode with Susana to discover what "I Wish I Had Known" is all about. The book draws on Susana's 30 years of experience and covers all those things she wishes she had known about at the beginning of her career. Education gives you lots of head knowledge, but nobody ever teaches you the skills you need for the world of work. Susana qualified as an accountant and learned lots about audit, accounting, and preparing financial reports. She needed to learn a whole lot more to become a manager and then a CFO. New things need to be mastered. How do you manage a team? How do you work with boards and committees? How do you set expectations with your manager and the rest of the business? These are just a few, and there are many many more. The book isn't aimed at finance people. It's relevant to just about everyone new to the workplace and progressing through the early years of their career. Susana believes people at the later stages of their careers will still get a good amount from the book, there are always new things to learn. Links In the podcast, Susana mentioned a special offer for podcast listeners. You can access it hereMentoring at GrowCFO with Susana Serrano-DaveySusana Serrano-Davey on LinkedInKevin Appleby on LinkedIn Timestamps 1:33 "I Wish I had Known" is a condensed version of 30 years of experience. 3:13 How have you put all of this great stuff on paper? 5:13 How to turn a topic into something that helps you -. 7:20 Who exactly is the book aimed at? 9:13 As you grow, the skills that will make the difference become more important. 11:01 Why you need to work on your self-inquiry. 13:41 It’s not all about the destination, it's about the journey. 16:07 What you can do if you want to get in touch with Susana 17:51 Who would you like to dedicate this book to?

Andy Bass is the Managing Director at BassClusker Consulting. He helps organizations to overcome their limits to growth by tapping into their unique – often hidden – resources. The limits can be external – for example, competitors are learning fast and making it hard for you to stand out. Or they may be internal – for example, you know what the business needs to do, but although your people agree to do it, they aren't following through... Andy explains ways to overcome these problems in his book, "Start With What Works: a faster way to grow your business". He shows you a faster way to grow your business by using the resources, people and customers you already have at hand. In this episode, Andy Bass covers the ten principles outlined in the book and goes on to talk about his new book "Committed Action" which is due to be published on 7 November. Links Andy Bass on LinkedInKevin Appleby on LinkedInStart With What Works on Amazon UKGrowCFO Strategy Bootcamp Timestamps 00:12 Welcome to the show and introduction to Andy Bass. 03:33 Andy's book "Start with What Works" and its 10 Principles 05:07 Principle 1 - Recombine existing elements so they create more value. 09:27 What’s stopping you from executing your strategy? 11:07 Principle 2 - Escape from fixed purposes 14:57 Principle 3 - Reverse engineer yourself 16:52 Principle 4 - Let the world teach you 19:35 Principle 5 - Watch what actually happens 20:57 Principle 6 - The few things that really make a difference 22:18 Principle 7 -Use very plain words to describe how you would want things to be. 23:20 Principle 8 - look beyond them and us 25:06 Principle 9 - Bring customers inside 26:54 Principle 10 - Give control to get control -. 29:09 How to get your people on board with your growth strategy. 29:30 Andy Bass' new book - Committed Action

Scott Bly is the CFO of Seattle-based International Parking Management. He is an entrepreneurial CFO with a passion for helping small business owners articulate and realize their vision. Scott joins the GrowCFO Show to talk about values. In particular, the importance of aligning personal and company values. When it comes to company values, there is no "one size fits all" approach. Every business is different, and as such, it will have different values that are important to them. The key is to ensure that your personal values align with those of your company. If they don't, you're going to run into trouble down the road. values are the foundation of any successful company. They provide guidance and direction for employees and help to create a cohesive culture. When values are aligned, both personally and within the company, everyone knows what is expected of them and what direction they should be moving in. This creates a sense of purpose and unity, which can help to improve productivity and satisfaction. There are a few key things to keep in mind when trying to align your personal and company values, and Scott outlines these during the episode. Links Scott Bly on LinkedInKevin Appleby on LinkedInGrowCFO Strategy BootcampCFO Competency Framework Timestamps 0:12 Scott’s background and how he got into finance. 3:00 What advice would you give to someone who’s on that journey at the moment? 7:06 How do you help your customers and vendors be successful? 11:05 Think about strategy and where you’d be going in a boot camp. 13:28 The importance of diversity of views in business. 17:24 How do we get more diversity into the finance team? 19:33 The importance of being honest with your customer. 23:17 The challenge of having the willpower to be present for your family. 25:30 What would Scott’s strengths be in mentoring an up-and-coming CFO?

Gary Cokins is an internationally recognized expert, speaker, and author in performance improvement systems and advanced cost management. He believes that many organizations are far from where they want and need to be to improve performance, and they apply intuition, rather than hard data, when making decisions. Gary explains why Enterprise performance management (EPM) provides a portfolio of managerial methods that can make a real difference. These include: strategy execution with a strategy map and its companion balanced scorecard (KPIs) and operational dashboards (PIs); enterprise risk management (ERM); capacity-sensitive driver-based budgets and rolling financial forecasts; product/service/channel / customer profitability analysis (using activity-based costing [ABC] principles); customer lifetime value (CLV); lean and Six Sigma quality management for operational improvement; and resource capacity spending planning. In this episode, we take a brief look at the tools and explore why many companies are slow to adopt them. Links Gary Cokins WebsiteKevin Appleby on LinkedInCFO Competency FrameworkBusiness Strategy Boot Camp Timestamps 0:12 Gary’s background. 4:37 If your competitors are adopting and integrating all of these methods, they will have a competitive advantage -. 9:43 How do you solve the problem of a company that hasn’t adopted these methods? 13:52 The importance of understanding what people spend their time doing. 15:43 What is customer profitability? 19:21 How to make your customer more profitable. 23:02 Process improvement people get the benefit of the balanced scorecard. 26:27 Gary’s frustration with the slow adoption rate of ABC. 30:11 What might a CFO do in the next 100 days to start going down that journey?

Chris Roling is the CFO at Coinme. He has 25 years of commercial and private equity experience having served in board, CEO, COO, and CFO positions with a number of global public and private companies. His previous experience is deeply rooted in venture capital, making him an expert on the current state of investor funding and how to acquire it in a bear market. Chris provides some great insights into the following: What best practices and insights on critical strategies can assist companies in improving and sustaining their valuation/operations to attract investorsWhat alternative fundraising strategies work in a disruptive marketHow to seek out and determine which investors best fit a company’s business model  Chris Roling has also been a partner at Ernst and Young. We know from GowCFO research into routes to CFO that it's very unusual for a resume to contain both CFO and Big 4 partner roles. We find out from Chris how that came about. Links Chris Roling on LinkedinKevin Appleby on LinkedInRoutes to CFO Research ReportGrowCFO Fundraising Transaction SimulatorGrowCFO Future CFO programme Timestamps 00:12 Welcome and introduction to Chris Roling. 02:38 How Chris became a CFO at a very senior level. 04:40 What does it mean to be a direct admit partner? 06:54 What is the current state of investor funding? 11:15 If you do not have enough cash runway you can get yourself into a predicament. 14:00 What is the difference between B2B and B2C companies? 16:19 How to separate the wheat from the chaff in the fintech space. 20:24 The importance of having a shortlist of investors to approach. 22:14 What you need to do to become investor friendly. 24:48 The importance of having a cash flow forecast.

They tell you never to meet your heroes. So did Kevin Appleby make a mistake inviting Laura Vanderkam on to the GrowCFO Show? You will have to listen to the episode and make up your own mind about that! Kevin recommends Laura's book "168 Hours" every time he runs a module 3 workshop on GrowCFO's Future CFO Programme. It's essential reading if you need to find a few extra hours every week to sort out your own personal development and career progression. Laura tells us more about 168 hours in this week's episode. Laura Vanderkam is a keynote speaker and author of multiple books. She is about to release her latest work "Tranquility By Tuesday" based on a time diary study of over 150 people. In the book, you’ll learn nine tried-and-true “rules” to easily build opportunities for joy, nourishment, and fulfilment into your schedule. These strategies will help you make what you want to happen, actually happen, instead of letting the minutiae of everyday life get in the way. Better still, listen to the podcast episode as Laura reveals to Kevin what all 9 rules are. These rules of course are of limited use to Kevin. He might get to have tranquillity next Tuesday, but his problem is he still can't get the hang of Thursdays! Links Laura Vanderkam websiteKevin Appleby on LinkedInLaura Vanderkam on Amazon UK and Amazon USGrowCFO Future CFO programme Timestamps 00:43 Why is Laura Vanderkam Kevin's heroine? 01:35 Laura explains 168 Hours 03:40 How do you make time? 5:22 Doing a time audit 7:55 168 hours is a recommendation in Module 3 of the Future CFO Programme 09:15 The importance of a morning routine 12:31 Tranquility by Tuesday 14:10 The 9 different strategies or rules 15:20 Rule 1 - Give yourself a bedtime 15:50 Rule 2 - Plan on Fridays 18:44 Rule 3 - Move by 3pm 20:35 Rule 4 - Three times a week habit 23:00 Rule 5 - Create a backup slot 24:55 Rule 6 - One big adventure, one little adventure 27:27 Rule 7 - Take one night for you 29:37 Rule 8 - Batch the little things 31:20 Rule 9 - Effort full before effort less

Do you want to be a great finance business partner? If so, you're in luck! In this episode, Oliver Deacon joins Kevin Appleby and gives us some great tips that will help improve your relationship with your colleagues in the rest of the business. Oliver Deacon is a member of the GrowCFO Mentoring team. He runs the GrowCFO Business Partnering Boot Camps and is a former FD at Microsoft.One of the most important things to remember when trying to become a great finance business partner is that communication is key. You need to be able to effectively communicate with your colleagues in order to build strong relationships. Make sure you are always clear and concise when conveying information, and take the time to listen to what others have to say. It is also important to be responsive to questions and concerns that your colleagues may have.It is also essential that you are able to build trust with your colleagues. This can be done by being honest and transparent in your dealings with them. Make sure you keep your promises and always follow through on what you say you will do. If there are ever any issues, make sure you deal with them in a timely and professional manner.Remember that it is important to show your colleagues that you are invested in the success of the organisation. This can be done by offering help and support when needed and being proactive in finding solutions to problems. Your job is to sell ideas and provide options. If you can do these things, you will be well on your way to becoming a great finance business partner. Building a strong relationship between finance and the rest of the business is essential for the success of your organisation. Listen in for some great information on how to make things work well between you and your fellow business managers! Links Oliver Deacon on LinkedInKevin Appleby on LinkedInGrowCFO Business Partnering for Finance Teams Boot Camps Timestamps 00:43 What is a finance business partner? 02:11 About Oliver Deacon 03:26 How to become a great business partner? Where do you start? 03:59 Relationships and selling ideas 05:38 How do you start forming great relationships? 06:15 Asking questions, showing people you are interested in them 09:43 Can you figure out what your business partners' biggest problems are? 10:39 Stop; Start; Continue 12:16 Turning data into insights 15:40 What are we going to do differently as a business? 16:38 Finance business partnering boot camp 18:48 How is the boot camp structured? 21:17 What's covered in each workshop? 23:32 How do you attend a bootcamp? 24:41 What surprises people most on the boot camp?

100 Episodes of the GrowCFO Show, that's 2 years' worth of podcast episodes. Dan Wells, founder and CEO of GrowCFO joins regular podcast host Kevin Appleby to celebrate the milestone, reflect back on the last two years and talk about some new exciting developments in GrowCFO. Dan and Kevin both choose their favourite episodes of the GrowCFO Show. Dan decided on episode 95 where Catherine Clark, head of mentoring at GrowCFO, talked about making the best decision for both you and your business. Kevin selected episode 102, yes an episode that is yet to be published, where he managed to get a guest from his own bucket list on the show. We'll leave you to wait another two weeks to find out who it is. The clue is Kevin talks about her book every time he delivers module 3 of the Future CFO Programme. Three significant milestones arrive all at the same time. As well as the 100th episode of the GrowCFO Show we've published two great new resources. The first is a 100-page book that describes the CFO Competency Framework. The second is a white paper examining the career paths of 500 CFOs and exploring the many different career routes available to get to the top job in finance. Both have just been made available to download on the GrowCFO website Links Dan Wells on LinkedInKevin Appleby on LinkedInBecome a free member of GrowCFODan's Favourite episode (episode 95)CFO Competency FrameworkNew free resources: The GrowCFO CFO Competency Framework eBook and Career Routes to CFO reportFuture CFO programme Timestamps 01:40 Two years ago, what was the original vision for GrowCFO? 03:17 How did Dan and Kevin end up working together? 06:02 Working with interesting people who simply want to give something back 07:23 Our favourite episodes of the GrowCFO Show 11:38 Whats GrowCFO all about? 16:19 plans for the next 2 years 17:19 The CFO Competency Framework 21:57 New research: What’s the optimum size for your finance function 24:56 Virtual Boardroom and Fundraising Simulator 25:34 Boot Camps for both Strategy and Finance Business Partnering

Alex Budak joins the GrowCFO show on the same day that his new book "Becoming a Changemaker" is published. Quite a coup for the podcast! The book is an excellent read for anyone wanting to become a changemaker, in particular for finance leaders wanting to enhance their ability to be a catalyst for change. As a faculty member at UC Berkeley’s Haas School of Business, Alex created and teaches the wildly popular course “Becoming a Changemaker,” which has quickly grown into one of the most highly-rated courses anywhere on campus. The course is regularly heralded by students as “transformative” and “life-changing” but has only been accessible to students attending UC Berkeley. That all changes from today as the course is condensed into a book accessible by anyone. The Becoming a Changemaker playbook is a guide for anyone looking to lead positive change. It covers the mindsets and leadership skills needed to navigate, shape, and lead change, as well as how to thrive in uncertain times. The book is tailored to millennials and Gen Zers who are leaving school and entering the workforce. It is based on the popular UC Berkeley course by the same name, which students have praised as transformative and life-changing. Links Alex Budak on LinkedInKevin Appleby on LinkedInGrowCFO Competency FrameworkBecoming a Changemaker on Amazon UK and Amazon USA Timestamps 00:51 Alex explains his background 02:26 Book being published on 13 September 2022 04:05 Change and the CFO 06:17 Technology and change 10:02 Can the changemaker skill be learned? 10:36 The Changemaker index 12:33 Dealing with resistance to change 15:06 Involving people in the change 18:28 Champions, fence-sitters and cynics 23:03 Impact = (mindset+leadership) x action 25:24 Who is the book aimed at? 28:06 How did you get involved in teaching "Changemaker"?