GrowCFO Show

Christoph Iwaniez describes himself as a Passionate, inspiring and motivating leader. Resilient in times of challenges and determined to get the job done. His unique strengths are in the area where corporate finance meets legal and regulatory issues. This has been put to the test in the last few months at Berlin-based bitcoin bank Nuri. Nuri was founded in 2015 under the name Bitwala with the purpose to make Bitcoin spendable. Trading ceased on 31 December 2022 and remarkably all the bank’s customers were able to remove their funds without any losses. In this episode, Christoph Iwaniez tells us how an initially successful fintech company struggled to raise vital funds and ran into liquidity problems and filed for insolvency. The really interesting story is what happened after that and how Christoph then led a small team of committed individuals to wind up the affairs of the bank. This really did require a passionate inspiring and motivated leader to keep the team together and to navigate the legal and regulatory issues. Links Christoph Iwaniez on LinkedIn Kevin Appleby on LinkedIn GrowCFO Business Partnering Bootcamp Timestamps 00:11 Introduction to today’s show. 01:10 How did you get to the situation you’re in? 04:03 What role does the CFO play at Nuri? 09:17 What happened to the business after the first funding round? 14:32 What changed that made a new funding round critical 16:58 Re-branding and raising funds. 22:44 How they’ve managed to keep the platform running even though they are running out of funds? 27:41 How to motivate the team as they wind down. 30:05 Some good people wait for the right time to move on to the next opportunity. 35:07 Which were the toughest challenges

NLP stands for Neuro-Linguistic Programming, and it is a powerful tool that you can use to improve your life. NLP allows you to change your thoughts and behaviors by understanding how your mind works. It can help you overcome fears and phobias, achieve your goals, and much more. In this episode Susana Serrano-Davey and Kevin Appleby discuss what NLP is and how you can use it to improve your life! NLP is based on the idea that the way we think about and interpret the world around us affects our behavior. NLP techniques help us identify and change unhelpful patterns of thinking, feeling, and behaving. By recognizing how you respond to certain situations or stimuli, you can begin to make different choices that lead to better outcomes for yourself. One of the most powerful ways to use NLP is to set and achieve goals. By breaking down a goal into small, achievable steps, you can monitor your progress and stay motivated. An example would be if you want to lose 10 pounds in 6 months; you could make a plan with daily or weekly actions that will help you reach your goal. Another way to use NLP is to overcome fears and phobias. By understanding the source of your fear or phobia, you can begin to challenge any negative thinking patterns associated with it. You can also use techniques such as visualization and affirmations to help clear away any blocks or mental obstacles standing in your way. Finally, NLP can be used to improve your communication skills. By understanding how people think and react to certain situations, you can become better at reading their body language and responding in a way that is more effective for both parties. NLP is an incredibly powerful tool that you can use to change your life for the better. Links Susana’s Book “I Wish I had Known” is available at Amazon UK and Amazon US Mentoring at GrowCFO with Susana Serrano-Davey Susana Serrano-Davey on LinkedIn Kevin Appleby on LinkedIn Timestamps 0:11 What is NLP and why should we be worried about it? 4:33 Using NLP for a good or bad purpose. 9:00 There is no such thing as the ultimate truth, it’s all an interpretation. 15:13 How do you influence people to get the right outcome? 19:01 What is the connection between values and success? 22:03 It’s like an iceberg. The bit above the water is what we know about ourselves and how we interact with the world. Below that lies everything else. 27:56 Do you need to understand where your beliefs come from in order to move away from them? 30:51 How do you use your body as a tool to have better outcomes?

Phil Walker and Geoff Fletcher, Co-Founders of Mettryx join Kevin Appleby to discuss the significance of Providing FP&A as a Service to Clients. Geoff and Phil explain the concept behind Mettryx, and the type of company that they would generally work with. Phil is a recent alumnus of the GrowCFO FutureCFO programme. The new business he and Geoff formed while he was part of the programme is a major change of direction for both of them and is a different approach to providing fractional CFO services. Most finance leaders understand what FP&A is and why it’s needed. Many small or medium businesses don’t have the financial expertise, and can’t afford full-time resources that take them beyond basic bookkeeping. Often these businesses don’t even realise what they are missing out on. Navigating growth can be a challenge for any size company. From start-up through to post investment, businesses need to be able to demonstrate a firm grasp on the financials. Strong process and controls, positive cash flow, well managed costs, healthy margins and well constructed business/financial plans. Mettryx provide on demand Finance services to support your business achieve all of this and more.  We talk about the challenges of launching this sort of business from scratch and the obstacles that Phil and Geoff have overcome and we look at where the future lies for both of them and their own business growth plans. Links Phil Walker on LinkedIn Geoff Fletcher on LinkedIn Kevin Appleby on LinkedIn Mettryx Future CFO programme Timestamps 0:11 Introducing Phil Walker and Geoff Fletcher. 2:36 How did Geoff and Phil get together? 5:45 The importance of FP&A as a service for SMEs. 8:18 What sort of analysis would you be doing for one of your typical clients? 10:52 How do you go about marketing your services to business owners? 16:03 Have you managed to find enough clients to fill your service up? 18:51 What apps are you using? What are the most adaptable? 21:18 How do you ensure the quality of what you’re producing is producing a result to hand? 23:28 Why an offering like Mettryx makes more sense than hiring a more affordable, but less experienced accountant into an organisation. 25:17 What do you think the business will look like in five years time?

Jeremy Rudd is an experienced Interim CFO for PLCs and SMEs in the UK. After qualifying as an accountant he worked for Metal Box plc before embarking on a consulting career during which he has worked with clients ranging from computer giant IBM to tanneries and chocolate biscuit manufacturers. In 2017 he published a book ‘4 Magic Steps to Double Profit’ designed to help managers, entrepreneurs and accountants(!) understand business financial dynamics in a fun and insightful way. In this episode we talk about the book, why Jeremy wrote it, and some of the stories he shares. Jeremy comes from a background of business change and business process reengineering, and we talk about the 3 roles the CFO plays. The CFO needs to identify changes that are needed, propose solutions and take people on a change journey from the old world to the new. This week’s guest on the Growcfo Show is an expert in business process improvement and has implemented change programmes in businesses both large and small. Jeremy Rudd shares some of his wisdom on this week’s podcast  Links Jeremy Rudd on LinkedIn Kevin Appleby on LinkedIn 4 Magic Steps to Double Profit on Amazon UK and Amazon USA GrowCFO Business Partnering Bootcamp Timestamps 02:25 Jeremy Rudd’s background in the family business. 07:18 How did you get into the business of accounting? 11:07 The vital role of the CFO in business today. 15:26 The CFO’s role in business change is threefold. 19:59 The CFO is in a position where they must engage with their peers and help them enjoy the numbers. 24:40 Who’s your target audience? 29:26 The importance of understanding the costs of your product. 37:39 Why fixed costs aren’t really fixed.

Melissa Hurrington is both CFO and VP of Operations at Premier Claims. This means that besides finance she is responsible for a lot of different functions within the company. In this episode, she shares how she manages these widely varying activities and multiple teams of people. We talk about her route to CFO and how along the way she got to love operations too. We find out why she quit her dream job. How she became CFO at Premier Claims and talk about the challenges she faces day to day and spend time discussing her leadership style. Melissa Hurrington describes herself as a servant leader. Kevin Appleby asks her to explain exactly what this means and Melissa talks about how to create an environment where every team member has everything they need to thrive and perform well. Melissa goes on to talk about setting expectations and managing underperformance. Links Melissa Hurrington on LinkedIn Kevin Appleby on LinkedIn CFO Competency Framework New free resources: The GrowCFO CFO Competency Framework eBook and Career Routes to CFO report Future CFO programme Timestamps 0:11 Introduction to Melissa Hurrington, CFO of Premier Claims. 2:47 How many people do you manage in the context of leading multiple departments? 8:20 Melissa’s path to becoming a CFO. 13:22 Why operations is something she fell in love with. 16:09 You’re going to get what you pay for in this space. 21:48 The importance of setting the tone for the week with weekly team meetings. 26:48 How to deal with underperformance in your team. 28:51 Are you on the same page with your team? 34:33 How to know if you’re ready to move on. 39:41 Being clear in what the ask is before anyone works here.

Patrick Butcher learned how to become a leader while undertaking the CFO role at a succession of enormous organisations. His cv includes Network Rail, London Underground and Capita. He admits that he didn’t always get leadership right the first time and it took a while to become a great leader. The lessons in leadership he learned on the way have been precious, and he shares them in this week’s podcast. It’s a great story and well worth a listen. Patrick Butcher is a Board level executive with a track record in financial and operational leadership roles in listed, PE backed and public sector organisations. Proven ability to create value through restructuring, organic and acquisitive growth strategies, and capability building. Combines commercial and transformation leadership skills with a core finance background and strong communication skills. Patrick has developed a great leadership model. He calls it the 5 Cs of Leadership and he explains to Kevin Appleby what this is all about. Links Patrick Butcher on LinkedIn Kevin Appleby on LinkedIn How to Get More Involved in Strategy, A free workshop with Patrick Butcher Timestamps 0:12 Introduction to Patrick Butcher, CFO. 1:32 Why did you decide not to become a lawyer? 4:32 How Patrick’s career in the public sector began. 9:25 What happened after he left London Underground? 12:22 Selling EWS to Deutsche Bundesbahn 18:04 Patrick’s first meeting where he felt he needed to shout at his team. 21:32 What are the questions we have to ask as a business? 24:04 The role of the CFO in creating a more sustainable business. 29:23 What has Patrick Butcher been up to lately after leaving Capita? 32:02 Patrick’s five-step model for leadership.

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 here Mentoring at GrowCFO with Susana Serrano-Davey Susana Serrano-Davey on LinkedIn Kevin 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 LinkedIn Kevin Appleby on LinkedIn Start With What Works on Amazon UK GrowCFO 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 LinkedIn Kevin Appleby on LinkedIn GrowCFO Strategy Bootcamp CFO 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?