GrowCFO Show

Self-awareness is key for well-being. When you know yourself well, you can make better decisions and thrive in all areas of your life – including your career. As a finance leader, it’s important to be self-aware so that you can set realistic goals and healthily manage stress. In this episode, Susana Serrano-Davey, our very own Executive Coach & Mentor at GrowCFO joins Kevin Appleby once again to discuss the importance of self-awareness as a cornerstone for wellbeing. We discuss the importance of self-awareness and how it can help you achieve success both professionally and personally. Susana gives some great advice on some practical things you can do to be more self-aware Self-awareness is the ability to see yourself clearly and understand your thoughts, feelings, and behaviours. It’s an important part of well-being because it allows you to make healthy choices, set realistic goals, and healthily manage stress. When you’re self-aware, you’re more likely to achieve your goals and be successful in all areas of your life. There are many benefits of self-awareness, but here are a few key ones: When you’re self-aware, you can make better decisions. You know your strengths and weaknesses, so you can make choices that are in line with your values and goals. When you’re self-aware, you’re more resilient. You know your triggers and how to manage them, so you’re less likely to be derailed by setbacks. When you’re self-aware, you have a better understanding of other people. You can see things from their perspective and build relationships that are based on trust and mutual respect. Self-awareness is an important part of well-being, and it’s something that you can work on every day. Susana gives us some practical strategies: Get feedback, how do people perceive you? Understand your feelings, and why you feel a certain way Learn more about your personality Make sure you meet your own needs before others Listen to the full episode to find out more. Links Mentoring at GrowCFO with Susana Serrano-Davey Susana Serrano-Davey on LinkedIn Kevin Appleby on LinkedIn Episode 93 with Leanne Spencer on Well-being Episode 74 Personality types with Merrick Rosenberg Episode 71 Strengthsfinder with Jim Brophy 168 Hours by Laura Vanderkam on Amazon UK and Amazon US Timestamps 00:41 The previous episode with Leanne Spencer about well-being and beating burnout 01:15 No point in achieving your goals and being unhappy 03:37 You really need to know more about yourself 05:22 How others perceive us 10:03 Getting feedback from others 13:45 Becoming aware of your personality type 16:47 Using personality profiling tests (we referenced DISC and Strengthsfinder tests covered in previous episodes with Merrick Rosenberg and Jim Brophy) 19:16 Connect with your feelings 21:43 The link between a crisis and becoming depressed 23:04 Neuro-linguistic programming (NLP) 24:34 Understand your needs 28:04 Dealing with recurring issues and problems 30:33 Making time and space for yourself 34:01 Susana’s book

CFOs and finance leaders are under more pressure than ever before. They are responsible for ensuring the financial stability of their company, and often have to make tough decisions that can impact the bottom line. This high level of responsibility can take a toll, and many CFOs and finance leaders find themselves struggling with burnout. In this episode, Leanne Spencer, an award-winning entrepreneur and a key-note wellbeing speaker and burnout prevention expert joins Kevin Appleby to discuss how to better manage stress, prioritize recovery and ultimately reduce the risk of burnout. Burnout can have a significant impact on CFOs and finance leaders. When individuals are burned out, they may feel exhausted, both physically and emotionally. They may also feel cynical or negative about their work and may have difficulty concentrating or making decisions. Burnout can lead to absenteeism, staff turnover, and a decrease in productivity. It can also adversely affect an individual’s health. But what action can you take to protect yourself? Leanne has plenty of answers! You need to increase your resilience. But what does that actually mean in practice? Lots of people talk about being more resilient, but few people have their own practical strategies to make it happen. Leanne talks about giving yourself slivers of recovery. Time for yourself every single day. A small part of your overall bandwidth. These slivers can have a very significant impact on your overall wellbeing Links Leanne Spencer on LinkedIn Kevin Appleby on LinkedIn Cadence: the secret to beating burnout and performing in life and work on Amazon UK and Amazon US Rise and Shine: Recover from burnout and get back to your best on Amazon UK and Amazon US Mentoring at GrowCFO Timestamps 00:39 About Leanne Spencer and Bear Grylls 01:24 Remember what is first for you 02:34 How does this apply to finance leaders? 05:20 Slivers of recovery 07:20 Learning from elite athletes 10:28 How do you recover when there’s always something else to do? 11:30 The golden hour before sleep 16:30 Turn off notifications 18:41 Simple things done every day 23:00 Decompress at the end of the day 24:17 Alchohol, good or bad? 25:26 Cadence, the overall message in the book 27:44 A business book needs to be short and easily digestible 29:24 Cadence: the secret to beating burnout and performing in life and work

As a CFO in a fast-growing business, you have a lot on your plate. You are responsible for ensuring that the company is making money and growing at a healthy rate. But what if you could take your career to the next level by having a mentor? A mentor can help you learn new skills, make important connections, and give you guidance when it comes to difficult decisions. Ian Simpkin specialises in mentoring CFOs who find themselves in that exact situation. Ian Simpkin is one of GrowCFO’s experienced CFO mentors. In this episode, he joins Kevin Appleby to discuss how he mentors CFOs in fast-growing businesses. We talk about his career and experiences and how this impacts his approach to mentoring. Ian, a Chartered Accountant (FCA), qualified with KPMG and trained at Insead in their International Executive Program. He has over 25 years of finance director experience and was European CFO of a Nasdaq 100 multinational during rapid growth from $20 to $450m. Ian has a great practical understanding of driving business growth, fundraising, acquisitions and exit planning. Besides mentoring new CFOs, he advises SMEs on financial strategies to help grow their businesses. He is passionate about helping his mentees develop their skills and expertise to realise their potential and provide Board level strategic advice. Links Mentoring at GrowCFO  Meet the GrowCFO mentors The CFO Competency framework Ian Simpkin on LinkedIn Kevin Appleby on LinkedIn Timestamps 00:57 Introducing Ian Simpkin 02:00 Growing a company from $20m to $400m 03:11 Making acquisitions to grow 04:20 What challenges do you deal with day to day as a mentor and portfolio CFO? 05:28 How do you approach mentoring? 06:52 What are the biggest issues you find with CFOs in their first role? 07:57 The CFO competency framework 10:00 The CFO as a strategic business partner 11:48 Ian Simpkin outside the office 13:16 Why choose Ian as a mentor?

One of the biggest challenges of financial modelling is creating models that are accurate and realistic. Financial modellers need to have a good understanding of all of the different formulas and functions in order to create an accurate model. Many people, even experienced modellers, use less than 5% of the functions available. Excel models need to be properly structured too so that others can easily validate them, and they can be checked for errors. There are lots to learn about, and many tips and tricks that can make your life much easier. That’s why Myles Arnott and Giles Male set up Full Stack Modeller. In this episode, Kevin Appleby chats to Miles and Giles to discover more about the challenges of building great financial models in Excel and how the Full Stack Modeller training and community of members can help you. We teach financial modelling basics in GrowCFO’s finance team training, but if you want to develop really deep specialist modelling skills Full Stack is the place to go. If you want to join Full Stack Modeller’s next cohort this coupon code will give you 15% off: GROWCFO15AUG. Registration opens on 8th August. Full Stack Modeller will give you: Excel Mastery. From core function knowledge and confident use of Excel Tables and Pivot Tables, to a truly unique way to develop your shortcut and navigation skill mastery. the major modelling standards, setting you up for more advanced modelling exercises to come further on in your journey. Advanced Financial Modelling. Covering the fundamentals of three statement modelling, valuations, scenarios & sensitivities, and more. Data Visualisation & Analytics. How to use Power BI to analyse data, and we help you understand how best to share your insights with others. These are skills that are rare to find, even amongst very talented and experienced modellers. Listen to the full episode to find out more. Links Giles Male on LinkedIn Myles Arnott on LinkedIn Kevin Appleby on LinkedIn GrowCFO for Finance Teams Find out more about Full Stack Modeller (use coupon code GROWCFO15AUG to get 15% off at checkout) Timestamps 01:04 About Full Stack Modeller 03:37 What are financial models used for? 04:50 Don’t most people teach themselves how to use Excel? 07:30 Power Query 09:48 What about apps that replace Excel? 11:40 What bad habits do self-taught experienced modellers generally have? 13:12 The problem of too much data 15:05 Data visualisation 18:55 How do you teach modelling when there are so many different applications of models? 20:40 Trapping errors in models 26:34 What are the 5 or 6 key things we really need to know? 29:11 The danger of a single Excel guru in a company

It’s no secret that boardroom experience is important for aspiring CFOs. But what happens when you don’t have access to boardrooms? How can you overcome this obstacle and get the experience you need? In this episode Dan Wells, founder and CEO of GrowCFO, joins Kevin Appleby to discuss the launch of GrowCFO’s Virtual Boardroom. Over 80% of aspiring and first-time finance leaders have little or no boardroom experience. Very few have conquered the most common challenges regularly faced by CFOs during board meetings. This lack of exposure can easily prevent you from landing your dream CFO role, or negatively affect your performance during difficult boardroom situations within your existing finance role. GrowCFO’s Virtual Boardroom provides you with essential first-hand experience of dealing with real-life boardroom challenges that most CFOs encounter early on in their finance leader career. If you’re serious about becoming a CFO, don’t let a lack of boardroom experience hold you back. There are plenty of ways to gain the experience you need, even if you don’t have direct access to boardrooms. The GrowCFO Virtual Boardroom can help you get the confidence you need in the boardroom. In addition you should seek out opportunities to present to boards. Get involved with organizations that focus on board governance, and network with experienced board members. With some effort and perseverance, you can overcome this obstacle and take your career to the next level. Links Dan Wells on LinkedIn Kevin Appleby on LinkedIn GrowCFO Virtual Boardroom Find out more about becoming a CFO Timestamps 00:52 What is the Virtual Boardroom? 03:20 The CFO wears 2 hats in the boardroom 04:49 How does the Virtual Boardroom work? 06:08 Does it involve a lot of prep like a real board meeting? 08:52 Dealing with the different perspectives of individual board members 11:56 What time commitment do you need in order to participate? 14:04 The Virtual Boardroom is supported by online learning 16:16 The role of professional mentors in the Virtual Boardroom 17:39 How to find out more

As finance leaders, we are always looking for ways to help our businesses grow. But in order to grow, we need to have a clear strategy in place. Without a strategy, it’s difficult to set goals and measure progress. And without communication, it’s impossible to get everyone on the same page. That’s where strategy software comes in. Strategy software helps you document your strategy and communicate it effectively to everyone involved. In this episode Tom Ricca-McCarthy, Co-Founder at Lucidity joins Kevin Appleby. We talk about how to build an effective strategy and how the Lucidity software app can support you in documenting and communicating the strategy. There are many benefits of using strategy software. Perhaps the most important benefit is that it helps you document your strategy. This is crucial because a documented strategy gives you a roadmap to follow as you execute your growth plans. It also allows you to track your progress and make changes as needed. Another important benefit of strategy software is that it helps you communicate your strategy effectively. This is essential because, without communication, it’s impossible to get everyone on the same page. Strategy software makes it easy to share your strategy with your team or stakeholders and get their feedback. This way, you can ensure that everyone is on board with your growth plans. Tom relates the story of needing to present the strategy for his own business and everything he needed was scattered across a whole collection of slide decks, spreadsheets and word documents. Lucidity was born out of the need to have a single place to document and then communicate everything to do with the strategic plan. GrowCFO is running quarterly strategy bootcamps. In a series of workshops over the course of a week we help you get to grips with building a strategy for your business and documenting it using Lucidity. There’s a link below if you want to find out more. Links Tom Ricca-McCarthy on LinkedIn Kevin Appleby on LinkedIn Find out more about Lucidity strategy software The GrowCFO Strategy Programme Join a GrowCFO Strategy Bootcamp Timestamps 01:23 About Tom Ricca-McCarthy 02:50 Putting a turnaround strategy in place in one of his former companies 04:12 The idea for Lucidity 05:44 Strategy is a broad activity using lots of different tools 08:30 Why you need everything in one place 10:18 SWOT, PESTLE, 5 Forces scattered across multiple documents 14:07 Its not just the analysis, it’s about executing the plan too 14:31 Tracking the KPIs and milestones 16:30 Scenario planning 17:45 GrowCFO strategy bootcamp 23:17 The CFO strategy survey 25:30 The communication challenge 28:23 Stop Start Continue 30:06 A single source of the truth 34:21 What’s next for Tom and Lucidity? 38:30 A balanced set of objectives and OKRs 44:48 The strategy execution gap

How Can CFOs Use the P = Potential – Interference Formula to Boost Team Performance? CFO Julian O’Neill uses the principle of Performance = Potential – Interference (P = P – I) to unlock greater productivity and mindset shifts in his finance team. By identifying and reducing internal and external interference — from negative thoughts to environmental distractions — finance leaders can help teams perform at their highest potential. This episode explores how to apply the formula in real-world leadership and personal development. In order to achieve success, you must remove any interference that stands in the way of your potential. This is the principle of performance = potential – interference, or P=P-I for short. This equation is a simple but powerful way to think about success and how to achieve it. In this episode, Kevin Appleby is joined by Julian O’Neill and we look at how Julian uses P=P-I every day to get the best out of his finance team and others that work with him. We discuss the factors that contribute to interference and how you can eliminate them to reach your full potential. Interference can come from many sources. It can be external, such as the people and environment around you, or it can be internal, such as your own thoughts and emotions. Both types of interference can prevent you from reaching your potential and achieving success. External interference is often beyond your control. You may not be able to change the people or circumstances around you, but you can control how you react to them. Internal interference is entirely within your control. Your thoughts and emotions are yours to choose from, so make sure they are positive and supportive of your goals. Whenever you find yourself facing interference, remember the P=P-I equation. Performance = Potential – Interference. Eliminate the interference and reach your full potential. You are capable of great things. Go out and achieve them. Julian O’Neill is CFO of Ardent Hire Solutions and previously appeared on episode 81 of The GrowCFO Show where he described his career path to his current CFO role. Links Julian O’Neill on LinkedIn Kevin Appleby on LinkedIn Episode 81 My journey to CFO with Julian O’Neill 168 Hours: You Have More Time Than You Think by Laura Vanderkam on Amazon UK and Amazon USA Timestamps 01:02 What is P=P-I 04:35 Examples of things that cause interference 08:45 Start Stop Continue 10:10 The importance of “Stop” and making space for new things 11:12 168 Hours by Laura Vanderkam – Do an audit of how you use your time 11:40 Getting rid of unnecessary tasks and meetings 16:00 Long hours at work are counterproductive 19:11 The need to be flexible with time 22:12 Finding space to think 26:00 What defines potential? 28:41 Most people dont show up to do a poor job 30:30 Sensing when somebody isn’t quite right 32:28 The complication of working remotely

Do you have a strategy? If so, congratulations – you’re ahead of the curve. Many businesses don’t take the time to develop a strategy, and as a result, they struggle to achieve their goals. But having a strategy is only half the battle; the other half is making sure that your strategy is executed properly. In this blog post, we’ll talk about how to close the strategy execution gap and turn your plans into results! Benjamin Wann is an expert at closing the strategy execution gap. He is a CPA and has written several books, including Getting Shit Done: The No-Nonsense Framework for Closing the Strategy Execution Gap which is the subject of this episode of The GrowCFO Show. The strategy execution gap is the difference between where a company wants to be and where it actually is. This gap can be caused by a number of factors, including unclear goals, inadequate resources, and poor communication. But regardless of the cause, the result is always the same: Your company isn’t achieving its full potential. So how can you close the strategy execution gap? Here are a few tips: Define your goals clearly. If your employees don’t know what they’re supposed to be working towards, they can’t possibly achieve it. Make sure your goals are specific, measurable, attainable, relevant, and time-bound (SMART). Allocate the necessary resources. Your strategy won’t get very far if you don’t have the people, money, and time to make it happen. Communicate, communicate, communicate. Make sure everyone involved in your strategy knows what their role is and what they’re supposed to be doing. regular check-ins will help keep everyone on track. Be flexible. Things will inevitably change as you’re trying to execute your strategy. Be prepared to make adjustments along the way. Closing the strategy execution gap can be a challenge, but it’s worth it. By taking the time to implement a solid strategy, you’ll ensure that your business is able to achieve its full potential. Listen to the full episode. We dive deep into these points and many more. Links How GrowCFO can help you build and execute your strategy Getting Shit Done: The No-Nonsense Framework for Closing the Strategy Execution Gap on Amazon UK and Amazon US Benjamin Wann’s other books on Amazon UK and Amazon US 168 Hours: You Have More Time Than You Think by Laura Vanderkam on Amazon UK and Amazon USA Benjamin Wann on LinkedIn Kevin Appleby on LinkedIn Timestamps 01:02 Introducing Benjamin Wann 02:46 Everything in life is a project! 03:15 Ben’s books 06:22 Getting Shit Done 08:15 You have designed the strategy. What comes next? 08:42 Many organisations don’t actually have a strategy 10:57 In its most basic form, what is a business strategy? 12:09 The strategy execution gap 13:57 Who does what and by when? 16:39 Time is limited. How do you prioritise? 17:16 168 Hours by Laura Vanderkam 19:47 Mindset for achieving the milestones you need to reach 23:10 Napoleon’s army and empowerment 23:47 Strategy lessons from the US Civil War 24:54 The need for flexibility in the plan 26:48 What gets measured gets done 28:00 Rats in Hanoi: Why linking measurement to reward can be very dangerous 31:44 It’s all about communicating effectively 35:00 Use e-mail properly 36:19 Create the right culture 40:00 The role of the CFO in strategy execution

Strategy is the backbone of any successful business. Without a strategy in place, it can be difficult to make decisions and achieve your goals. Many CEOs try to implement the strategy on their own, but this can be difficult if you don’t have the right tools and resources. In this episode, we will discuss how to embed strategy in your business and make sure that it is a part of everything that you do! The strategy should be embedded in every facet of your business, from the way you set goals to the way you communicate with customers. By embedding strategy into your business, you will be able to make better decisions, achieve your goals, and improve your overall performance. There are a few key steps that you can take to embed strategy in your business: Define what strategy means for your business Without a clear understanding of what strategy is, it can be difficult to implement it effectively. Take some time to sit down and define what strategy means for your company. What are your goals? What are the most important things that you want to achieve? Once you have a good understanding of what strategy is and what it means for your business, you will be able to start embedding it into your operations. Make strategy a part of your decision-making process One of the most important ways to embed strategy in your business is to make it a part of your decision-making process. Whenever you are faced with a decision, big or small, take some time to think about how it will impact your strategy. What are the risks and opportunities associated with this decision? By taking the time to consider these things, you will be able to make better decisions that align with your strategy. Communicate your strategy to everyone in your company It is important that everyone in your company is aware of your strategy and knows how it affects their day-to-day work. Hold strategy meetings, send out regular emails or memos, and post your strategy on your company’s intranet. The more people that are aware of your strategy, the more likely they are to help you achieve it. These are just a few of the ways that you can embed strategy in your business. We talk about much more in the episode, so listen in and find out more. Susana Serrano-Davey is an experienced CFO and a member of the GrowCFO professional mentoring team. If you are interested in having Susana as a mentor then please get in touch using the link below. Kevin Appleby is GrowCFO’s business strategy mentor and runs the GrowCFO Strategy Programme. Links How GrowCFO can help you build and execute your strategy Mentoring at GrowCFO with Susana Serrano-Davey Susana Serrano-Davey on LinkedIn Kevin Appleby on LinkedIn Timestamps 01:30 What is strategy? 03:55 How do you go about building and deploying a strategy? 04:01 Three typical scenarios 05:28 What about the business that’s in trouble and needs a turnaround strategy? 08:04 What does the CFO need from the strategy? 08:59 The objectives are clear, but how do we achieve them? 09:50 The power of a simple SWOT analysis 12:32 Achieving a balance between growing revenue and cutting cost 13:42 The role of the Zero-Based Budget 17:24 The need to be constantly aware of new challenges and adapt the strategy 19:34 The danger of not implementing change in the good times 21:53 The difficulty of restructuring when the business is losing money 24:34 Strategy and the high growth business 26:38 The CFO as the challenger of strategy 28:07 Measuring the right things and understanding cause and effect 30:02 What are the 3 or 4 most useful tools to use?

How Did Jimmy Vassilas Go from Big 4 Auditor to CFO of SantéVet? Jimmy Vassilas’ journey from audit to CFO is anything but linear. In this episode of The GrowCFO Show, he shares how strategic horizontal moves, international assignments, and a deep focus on tech shaped his career. From qualifying as a Canadian Chartered Accountant at Deloitte to rising through Autodesk into CFO roles at Receipt Bank, Zappi, and now SantéVet — Jimmy’s story shows that agility, openness to change, and strong FP&A skills are essential ingredients for modern CFO leadership. Jimmy Vassilas started his career in Montreal, Canada. He qualified as a Canadian Chartered Accountant with Deloitte majoring in high tech and telecoms. High tech has remained the focus of his career ever since. Jimmy’s CFO roles include Receipt Bank; Zappi; and most recently SantéVet. Jimmy joined Autodesk and then moved to Europe temporarily to cover maternity leave. The person on maternity leave never returned to work and Jimmy never returned to Canada. In the episode, we reflect on how unexpected things like this often have the biggest impact on your career path. His journey takes him from external audit to internal audit. Subsequent job changes take him into FP&A and several senior management roles. Jimmy achieved many of these by moving horizontally rather than vertically within Autodesk, eventually becoming Autodesk’s finance director. Links Jimmy Vassilas on LinkedIn Kevin Appleby on LinkedIn GrowCFO CFO Competency Framework Find out more about becoming a CFO Timestamps 01:21 Jimmy’s early career in audit 05:35 Internal audit to FP&A and 17 years in Autodesk 07:35 Are horizontal moves worth taking? 08:49 The 9 competencies of a CFO 09:29 The number one complaint CEOs have about CFOs 11:26 Is 17 years too long in a single organisation? 14:00 So why leave after 17 years? 16:07 Becoming CFO in an organisation funded by venture capital. 19:04 SantéVet and a move to France 20:46 The challenges of being CFO in a high growth tech company 21:49 The importance of shared values within the business 23:11 The importance of being a business partner 25:00 What’s the best advice you would give somebody at the start of their journey? 29:00 The importance of networking and maintaining connections