Baldeep Bains-Toor’s Post

It’s time we broaden our understanding of the CFO role beyond just "managing finances." It's not just about ensuring financial accuracy. It's not just about managing risks. Sure, these are important, but they’re just the tip of the iceberg. Thinking that this is all finance is about is a bit like describing a symphony as just a collection of notes. In my experience - and I have lots in this space! - a great CFO does so much more. They’re not just keeping the books balanced; they’re driving strategic decisions and shaping company culture. The impact they have is profound and often undervalued because finance is always thought of as a cost rather than a driver of growth. This isn’t about the stereotypical number cruncher. It’s about leaders who understand that their fiduciary duty goes beyond numbers. A CFO ensures the company acts in the best interests of all its stakeholders – shareholders, employees, customers. They’re stewards of trust and integrity, navigating complex financial landscapes to safeguard the future. But it doesn’t stop there. A CFO must anticipate market shifts, regulatory changes, and technological advancements. They’re not just reacting to changes; they’re proactively steering the company toward sustainable growth. So why are we limiting our discussions about CFOs to financial accuracy and risk management? Why aren't we celebrating how they drive companies out of slumps and into periods of innovation and growth? Why aren't we highlighting how they educate teams and influence corporate culture, fostering accountability and success? Why aren't we emphasising the need for strategic thinking and visionary leadership to ensure businesses don’t just survive but thrive? It’s time to expand our view of the CFO’s role and recognize their potential to transform companies. Financial accuracy and risk management? Absolutely. But the CFOs that work with me aim higher. And because they do, we achieve so much more. __________________ I'm Aarish, founder of EmergeOne, host of Nothing Ventured and author of Off Balance where I talk and write about about tech, startups, Venture Capital, finance and CFO stuff. ✍🏾 Sign up to Off Balance, my newsletter: https://lnkd.in/e4_wZWjW 📖 Sign up for early access to my book - Off Balance - 100 lessons from 2 decades as CFO and CEO: https://lnkd.in/dDgZHrC7 #Startups #CFOInsights #VentureCapital #NothingVenturedPodcast #founder #business #finance

2/3 Benefits of Hiring Virtual CFO for Start-ups and MSME Enterprises Accurate Budgeting & Accounting: A strong and well-planned Budgeting ensures the company maintains healthy profit. Virtual CFO also assists in determining the amount of money required by combining the salary and the cost. Improve Profitability: Virtual CFO services analyze your resources and save your company from any sort of wastage. A well-planned and executed strategy boosts the overall productivity of the business. Decision Making: Virtual CFO also helps in the decision-making process of the company which ultimately leads to business growth. It analyses the finances and operations of the company by using the identification of key operational indicators. Risk Assessment: Virtual CFO recognizes potential risks and provides solutions to curb the level of risk which may influence business over the long haul and improve opportunities. Success Focused: Virtual CFO keeps a constant eye on the current market and financial condition and works continuously on a success-based model. The virtual CFO frequently tracks and evaluates factors such as production, distribution, sales, cash flow, distribution, and inventory levels which show the KPIs. Growth Strategy Mentor: The virtual CFO evaluates the business and suggests growth strategy/planning. The virtual CFO creates a suitable improvement plan, market strategy, and advanced idea in order to recognize when financing is required in the business. Access to investors: Virtual CFO also helps in the decision-making process and looking to relevant options of investors for the organization which ultimately leads to the growth of the business. Help in valuations: Business Valuations of Assets, Liabilities, and securities recognize the market equity value instruments, debt instruments, and derivatives issued by government agencies, financial institutions, and corporate organizations. Organizational Hierarchy Structure: Virtual CFO services have the power to make any changes in the organizational hierarchical structure of the company as and when needed for business growth.

The Misfit CFO: Breaking the Mold in the Corporate World The Chief Financial Officer (CFO) – a title synonymous with stoicism, spreadsheets, and a sharp eye for the bottom line. But what happens when a CFO doesn't fit the mold? This article explores the idea of the misfit CFO, a financial leader who challenges the status quo and brings a unique perspective to the corporate table. The Traditional CFO: A Pillar of Stability Traditionally, CFOs have been the guardians of financial stability. They wield the power of the budget, analyze risk with laser focus, and ensure the company operates within its means. They are the voice of reason, steering the ship away from financial storms. The Rise of the Misfit CFO However, the business world is changing. In today's dynamic environment, companies need more than just number crunchers. They need strategic thinkers who can translate financial data into actionable insights, embrace innovation, and champion calculated risks. Enter the misfit CFO. Traits of the Misfit CFO Visionary: The misfit CFO isn't just focused on the bottom line; they see the bigger picture. They understand the financial implications of strategic decisions and use their expertise to guide the company towards long-term growth. Creative Problem Solver: Misfit CFOs aren't afraid to think outside the box. They challenge conventional wisdom and seek innovative solutions to complex financial challenges. Storyteller: Numbers tell a story, and the misfit CFO is a master storyteller. They can translate complex financial data into clear, concise narratives that resonate with all levels of the organization. Tech-Savvy: The misfit CFO embraces technology. They understand how to leverage financial technology (FinTech) to streamline processes, gain deeper insights, and make data-driven decisions. People Person: Finance isn't an island. The misfit CFO understands the importance of collaboration. They build strong relationships with other departments, fostering a culture of open communication and shared goals. The Impact of the Misfit CFO The misfit CFO can be a disruptive force for good. They challenge the status quo, inject creativity into financial decision-making, and help companies navigate an increasingly complex economic landscape. Finding Your Inner Misfit Whether you're an aspiring CFO or a seasoned professional, there's a misfit waiting to be unleashed. Embrace your unique strengths, cultivate a forward-thinking mindset, and don't be afraid to challenge the norm. The corporate world needs more misfit CFOs – financial leaders who are as comfortable with creativity as they are with crunching numbers.

As a small business owner, I know how hard it can be to manage all the financial aspects of running a company. There's budgeting, forecasting, financial reporting, cash flow management, and more. It can feel overwhelming trying to wear all those hats, especially if finance isn't your specialty. That's why a growing number of entrepreneurs are turning to Fractional CFOs. A Fractional CFO is a part-time CFO you bring on to handle your key financial functions. They don't join your team full-time; you pay for only the time you need. This gives you financial leadership without the expense of a full-time CFO salary and benefits. Some of the key benefits of a Fractional CFO include: - Financial strategy and planning - They can help set financial goals and create plans to meet them. This includes budgeting, forecasting, and performance tracking. - Reporting and analysis - They can prepare key financial statements, analyze data, find insights, and report on performance. This helps you make informed decisions. - Cash flow management - They can monitor cash flow, accounts receivable/payable, and suggest ways to improve it. This keeps your business financially healthy. - Financial processes - They can establish or improve systems for billing, collections, payroll, and more. This boosts efficiency. - Mentorship - An experienced Fractional CFO can mentor you on financial management and be a sounding board for strategic decisions. - Compliance - They can ensure you meet legal and accounting compliance requirements. This reduces risk. - Capital strategy - They can help you identify capital needs, choose sources, and negotiate terms. This fuels growth. A Fractional CFO gives you just the right amount of financial leadership your business needs, without the huge expense. If you're feeling stretched thin or lacking financial expertise, it's time to consider hiring a Fractional CFO. The benefits for your bottom line and peace of mind could be immense. What are you waiting for? ----------------------------------------------------------------------------------- My name is Jeffrey Johnson. I am a Fractional CFO..I am here to help your business grow profitably, while still maintaining positive cash flow. DM me, if you would like to explore working together.

Let's look at the progression required from a finance function as a business moves from Startup to Scaleup.👇🚀 We see a clear shift in the level of the finance leader required and the expectations in terms of the quality of the financial outputs during this transition. 👉 Startup: During the Startup phase a finance leader needs to be hands on in establishing the first foundations of a finance function making sure that the groundwork is as scalable as possible without adding too much cost or complexity.🧱 This means creating strong financial processes, analytics, financial models, pitch decks and financial plans from scratch to enable the business to raise and manage initial funding at the Seed or Series A stage. The finance leader needs to be comfortable and enjoy operating in a scrappy, chaotic environment where everything needs to be either created or pulled together innovatively.😇 Success means the function will be able to provide the financial infrastructure and insights necessary to support early growth, attract investment and navigate the challenges of early-stage venture. It's all about agility, resourcefulness, and finding investors / customers to go on the journey with you!! 👉 Scaleup As the company gains momentum and enters the Series B/C scaleup phase, the finance function takes on a more strategic role. Finance will lead in well thought out sophisticated, data-driven, and proactive strategic decisions.📊 The business will require a CFO with strong EQ capable to establish strong relationships internally with Founders and C-suite peers as it builds the strategic plan. The CFO must be comfortable to challenge the business on key decisions to ensure it stays on the correct strategic path or pivots where necessary. Externally there will be higher expectations from Investors, Auditors and Lawyers when it comes to the quality of financial forecasts, governance, and controls. It is crucial for the finance function to be one step ahead in being prepared to answer the different questions posed by later stage investors and the Board.💬 Therefore, it is important that the CFO can hire, develop and lead a strong well rounded team to support in areas of FP&A, Financial Reporting, Investor Relations, Treasury, M&A, FinOps and Controls etc. Success means the finance function can drive a positive impact on the two overlapping concerns: growth and an exit strategy. Late-stage startups are doing whatever they can to increase their valuation sustainably ahead of an exit and the CFO plays a significant role in this.📈 It's all about IQ, EQ, excellent depth of industry knowledge, storytelling, gravitas, and leadership ability to drive the right strategic decision and bring people on that journey. I will cover the finance requirements for the Exit stage soon but look forward to hearing your thoughts on these differences.😎 #founders #cfos #startups #entreprenuership #scaleups

3 CFO POVs and the shared value of deep commercial understanding Apart from financial reporting, controls, and fundraising (which are largely common across all types of businesses), it’s important for CFOs to have the ability to focus their energies on areas that matter the most to the nature of the business. We compare the experiences of three CFOs we have had on our podcast on what they focus on: 🏎️ For a multinational used car ecosystem like Carro, a focus for their CFO has been to manage a complex operation with multiple business lines (with each their own operating drivers) across several markets (with each their own mix of Carro’s offerings). 🎙️ As Ernest explained on our podcast: “…ensuring that the OPEX is lean and there is no duplication of costs in the various business segments...There are businesses that will have higher ramp up costs and capital requirements, whilst some which are profitable from the beginning will require much more working capital at the start...pacing and balancing growth versus capital allocation appropriately is critical to the survival of every startup.” 🧸 For an ecommerce brand roll-up firm like Rainforest, post-acquisition management is key focus for the CFO to ensure that the money spent on acquisition translates into returns through the growth of the brands acquired. This means having a holistic view on their portfolio’s performance. As Rainforest’s portfolio has grown to 16 brands (as of Q3 2023), the company has found it valuable to automate this visibility. In their case, this meant ERP integration. 🎙️ As Jason shared on our podcast: “As the organization grows bigger and more complex, the need to automate becomes even more important…One of the major projects we have undertaken since late 2022 was the integration of ERP into Rainforest...This will form a stronger platform for us, better from a finance and supply chain perspective, for us to operate our brands more optimally.” 💰 For a supply chain financing company like AwanTunai, treasury is key focus for the CFO as ensuring a healthy supply of lending capital is key to scaling their business. Sources of this capital will vary in terms of risk acceptance criteria, which the company has to take into consideration in its treasury management. This means the CFO has to work closely with sales and risk teams to ensuring capital flows efficiently from fundraising through risk and sales processes, delivering the right margins for the business to scale healthily. 🎙️ As Shilpa pointed out on our podcast: “Treasury can become very complex as asset allocation becomes complex with several lenders with different eligibility and risk acceptance criteria.” Read the full article: https://lnkd.in/ecFUG48m 📸 L-R: AwanTunai CFO Shilpa Gautam, Carro CFO Ernest Chew, Rainforest CFO Jason Tan

When to Hire a Finance Leader for your Tech Start-up? As a firm specializing in placing CFOs and Finance Leaders within tech start-ups, we've had the privilege of advising hundreds of Founders since our inception. Through these interactions, we’ve built a wealth of knowledge from our community that we hope will guide those Founders who are navigating the complex journey of scaling their business post-Series A funding. One of the most crucial decisions during this phase is determining when to bring a finance leader on board. Many Founders grapple with this decision, especially after securing a Series A round when the stakes become higher, and financial complexity increases. Below is a framework that may help you make an informed decision. If you find yourself answering "yes" to most of these points, it might be the right time to bring in a financial expert: 1. **Revenue Milestone**: Your start-up is generating annual revenue in the range of $3-5 million. At this stage, financial planning, forecasting, and strategic oversight become increasingly important. 2. **Projected Growth**: You are forecasting at least 20% growth over the next 12 months. Rapid growth requires robust financial planning and cash flow management, areas where a finance leaders expertise can be invaluable. 3. **Team Size**: Your organization has scaled to over 40 employees. As the headcount grows, so do the complexities around payroll, benefits, equity management, and internal financial controls. 4. **International Expansion**: You are either planning or actively pursuing international growth. This brings additional layers of financial complexity, such as navigating different tax laws, exchange rates, and international accounting standards. 5. **Lack of Financial Expertise**: Your current team lacks deep finance or accounting expertise. If financial decision-making is currently spread thin or managed by non-specialists, it might be time for a dedicated leader who can bring strategic and operational financial oversight. 6. **Upcoming Fundraising**: You are planning to raise another round of funding within the next 12-18 months. A Finance Leader can significantly enhance your credibility with investors by providing accurate financial projections, handling due diligence processes, and negotiating terms that align with your long-term vision. While this framework offers a general guide, every start-up's needs are unique. It is essential to consider the specific context of your business, your growth ambitions, and the gaps in your current team. A strategic hire like a CFO can serve as a catalyst for growth, providing the financial stewardship needed to navigate both opportunities and challenges as your start-up scales. If you’re at a crossroads about making this critical hire, we are here to help you assess your options. Feel free to reach out for a discussion. #nyc #cfo #seriesa #startup #scaleup #founder

Featured Article: Your Business - How a Virtual CFO can help! "Appointing a Virtual CFO role is seen as a good alternative [to a CFO]." Eugenia tells us more in this latest article. Read more here: https://zurl.co/KMsp

Featured Article: Your Business - How a Virtual CFO can help! "Appointing a Virtual CFO role is seen as a good alternative [to a CFO]." Eugenia tells us more in this latest article. Read more here: https://zurl.co/KMsp

Think the cost of hiring a high-tech CFO stops at their CTC? 🤔 Think again. In the rapidly evolving tech landscape, the role of a CFO transcends traditional boundaries. It's not just about crunching numbers anymore 🚫💹. A visionary CFO, especially one tasked with transforming the finance function and the organisation at large, brings more to the table than just their salary costs 💰. Consider the invisible costs. The integration of cutting-edge technology in finance 🖥️, the strategic redirection of financial practices, the fostering of a culture of innovation - these aren't line items on a balance sheet. Yet, they're crucial investments for future-proofing your business 🏢. Are you giving your CFO the keys to the car but expecting them to win the race without petrol? 🏎️💨 This is the reality for many "rockstar" CFOs who are brought in to catalyse change but aren't given the necessary resources or support to achieve their objectives. Hiring a visionary CFO is just the first step. Empowering them with the right tools, budgets, and resources is crucial for them to strengthen the finance department, run automation projects, and forge productive business partnerships. Yet, without an organisational culture that supports and embraces change and innovation, these endeavours may fall flat. 🙅♂️ I've often highlighted the significant role a CFO plays in a company's digital transformation and growth strategy. However, it's not just about hiring the right talent – it's also about nurturing an environment where they can thrive. 💪 If your company is willing to invest in a high-tech CFO, it's equally important that you're prepared to invest in a mindset shift. This means fostering a culture of transparency, inclusivity, and growth, and ensuring your CFO has the support they need to lead your company into the future. ⏩🌐 But here's the flip side: the potential ROI. A high-tech CFO doesn't just manage finances; they unlock new revenue streams, streamline operations, and enhance financial health, creating value that far exceeds their cost to company (CTC) 💵. The real question isn't about the CTC. It's whether you can afford not to invest in a CFO who can pivot your finance function and catalyse organisational transformation? 🔄✨ The end game? An organisation that not only embraces change but drives it; a finance function that doesn’t just support business but shapes it; a CFO who is not a cost centre, but a value creator. Now that's a race worth winning! 🏁 Hi, I am Asheesh Chatterjee a CA, CMA (India & UK) and an alumnus of Kellogg School of Managment, I love talking about building blocks for the next level of growth and excellence #CFO #CEO #CHRO #leadership