Hartman Executive Advisors’ Post

In a PE-backed business, 20% of roles (often less) will end up accounting for 80% of the value creation. So... → Identify those needle-moving roles. → Get clear on the capabilities needed to do each with excellence. → Look closely to make sure the person in each role has those capabilities. → If not, train 'em up, or swap 'em out. This is arguably one of the most important things a PE-backed CEO can do. Not always easy, but pretty simple.

You CEO's and organizational decision makers in a struggling company, please take time off and talk to your employees, especially those that youndeem 'insignigicant', they will share the insight that you may be needing so badly to re-invigorate the company to recovery. Many of you are limiting your attention to your Finance officers and pinning your auditors but it's the other guys who will not come to you because you won't even say hello to them when you bypass them in the morning on your way to your office that have the accurate information you need for your decision making. It's not too late, give them time. Talk to them, let them tell you what they think is wrong and what they believe you need to do. Matter of fact, many of them could even be more experienced than you are in solving the problems you have at hand.

🔍 The Board's Role in Examining Strategy 🔍 A board plays a crucial role in shaping and examining company strategy. Our latest guide explores how boards can effectively contribute to strategic planning and decision-making. Learn more: https://bit.ly/3SkCejr #CorporateGovernance #BoardLeadership #BusinessStrategy

On our latest episode of Planning Aces - Co-host Brett Knowles reveals how three of our recent CFO guests demonstrate the "voice of reason," a trait they exhibit through their strategic foresight, balanced decision-making, and focus on sustainable growth amidst rapid market changes and challenges. Here's how each CFO demonstrates this characteristic: Jamey Mock (Moderna): Exercising Prudence in Investment: Despite a significant revenue surge from the COVID-19 vaccine, Mock plans for a future with lower revenues and substantial R&D investments. He shows reason by guiding the company to anticipate and prepare for a post-vaccine market, focusing on sustainable financial management. Balancing Short-term and Long-term Goals: Mock's approach to navigating from a period of high income to a time of potential losses while still investing in R&D is a prime example of maintaining a reasoned balance between immediate gains and future prospects. Aina Konold (Bowflex): Anticipating Market Cycles: Konold's prediction of a two-year rise and fall in market demand exemplifies her role as a voice of reason. Her foresight allowed Bowflex to strategically manage the pandemic-driven demand surge and prepare for subsequent market normalization. Strategic Decision-making: She emphasizes long-term planning by cautiously controlling headcount growth and prioritizing renting over buying, ensuring the company's resources are aligned with its long-term vision. Peter Benevides (Olo): Adapting to Market Shifts: Benevides' focus on understanding macroeconomic trends and consumer behaviors shows his reasonable approach to planning. His anticipation of changes in dining habits and consumer spending during economic uncertainties helped Olo adapt its business model accordingly. Analyzing Different Scenarios: His detailed analysis of various trends, such as the stability of digital ordering and consumer trade-down during tough times, reflects a well-reasoned approach to navigating complex market dynamics. In summary, all three CFOs demonstrate the voice of reason by not only responding to immediate challenges but also by strategically planning for the future, considering both short-term and long-term impacts on their businesses. This approach ensures that their companies are well-positioned to adapt and thrive in changing market conditions. NOW LISTEN https://lnkd.in/ezBk7R7G

Happy New Year! I am following up on a previous post related to FP&A's vision and the four foundational pillars (Processes, Partnerships, People, and Platforms). This session is focused on 'Partnerships' and the goal is "To gain trust, obtain buy-in and have the ability to not only inform but also influence decision-making practices". I am capitalizing on a best practice framework created by Anders Liu-Lindberg and the Business Partnering Institute showing 6 tactics for becoming dynamic business partners to operational units and better understanding the business value creation lifecycles. ✳ Get Out of the Office - Break down organizational silos and instead encourage team collaboration via a free flow of information. ✳ Be Curious about the Business - Apply curiosity by asking questions, getting involved in business-related projects, and meeting business folks to understand their needs and challenges. ✳ Experience the Real World - Explore how the company's value proposition is delivered to customers. ✳ Look at Numbers with New Context - Assess information by seeing beyond the number. Look between the lines and connect the dots. ✳ Share Insights with Stakeholders - Share actionable insights and propose solutions to gain trust, buying, and credibility. ✳ Create a Continual Loop - Deploy a continuous improvement mindset. Finance Business Partnering requires a new set of skills and behaviors. According to many case studies and articles, effective business partnerships lead to better strategy formulation and execution. It also leads to building a competitive edge for the finance function and becoming a margin improvement unit! Thanks to Anders Liu-Lindberg, Christian Frantz Hansen, Benita Ulrichs Nilsson, Michael Lykke Bülow, Christian Katzmann, Ida Rytter Lund, Franziska Winter, and all the folks at the Business Partnering Institute for your passion and ongoing learnings to unlock the value within Finance via a critical area "Business Partnerships". #fpna #fpanda #financebusinesspartner #partnerships #partnershipsuccess #partnerecosystem #partnershipsmatter #financeeducation #financeleadership

Five quick rules of management that can be put into practice by any manager in any organzation. Worth a view for sure! #leadership

The devil is in the details Founders, CEOs and business leaders don't always know exactly what they want from a finance leader But they do know what journey they need to take their business on ... and they tend to know what extra information, insight and support is needed to help them get there My job is actually pretty simple - find brilliant finance professionals who can help them on that journey.

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In this article the following are explored... *How are capital and resources allocated in large corporations? *Why is aligning resource allocation with strategic goals important? *What is the role of each business unit in realizing the company's strategy? *How does a streamlined financial planning approach improve resource allocation? *Why is matching the next year's budget with the long-term financial plan crucial? #ResourceAllocation #StrategyExecution #BusinessPerformance #ProcessImprovement

When you bring on new portfolio companies, identifying and optimizing areas of alignment between the leaders in the company should be a priority. But, too often, this gets pushed to the back burner because there doesn’t seem to be a direct connection to the investment thesis or because investors are cautious of interfering with the company’s internal dynamics. However, without alignment between function area leaders, the company could be: - Missing out on budget efficiencies - Spending dozens of hours on overlapping work - Losing potential customers in the cracks between departments - Pulling the business in multiple different directions Executive team relationships need to be proactively managed, with clear communication requirements and goals that make sense for both parties. This is particularly true when it comes to the relationship between the Chief Marketing Officer and Chief Financial Officer. In this post, we cover: - Why the CMO-CFO relationship needs work - The benefits of better CMO-CFO alignment: For marketing - The benefits of better CMO-CFO alignment: For finance - 4 steps to improve CMO-CFO alignment Take a look at the article here --> https://lnkd.in/d3JgQ-GU