Jon Morris’ Post

Here are the main things to look out for when your business needs to appoint a CFO or Finance Director. ✅ If you're hiring for a senior finance role and want to work with a transparent and modern search partner, get in touch 📩 #stoix #financejobs #cfo #hiringstrategy

The ROI of a CFO: I can't promise clients a 2x-3x increase in revenue like an ads agency. It's hard to calculate the ROI of hiring a CFO. But I can promise this: With the right finances... • Your business grows faster. • You understand your business better. • You make more profitable decisions. • You protect yourself against potential risks. • You take the right steps towards your goals. There's a reason why every successful company invests heavily in its finance team.

Why is hiring the right finance talent crucial for start-up success?🔍 Whether you’re gearing up to make your first internal finance hire or looking to strengthen your FP&A function, building a strong finance foundation is key. Here are 3 reasons why a top-tier finance team is essential: 🧠 Strategic Insight and Planning: Crucial guidance and planning will help you navigate growth challenges and make more informed business decisions. 💸 Effective Cash Flow Management: Cash is king, as they say, so effective management will prevents crises and ensures you have the liquidity needed to operate and scale at the right time. 🤝Investor Confidence & Fundraising: A strong finance team, including a skilled CFO, is vital for communicating your start-up's financial health to investors, securing funding, and building confidence. If you're a Founder or Finance Leader looking to build out your team, please get in touch on jordan.macdonald@harmonicfinance.com.

When hiring a new CFO. Specific industry experience can be a plus but for a truly global CFO it j in s no essential. In fact, tge true barrier to sourcing the right candidate often. Lies with tge competence or more, lack of cimiers of part of the hiring temp. Most hiring teams lack the openness, the vision snd sheer understanding of the true value experience and the ability of transferring skills. Often the lack of industry experience can be a greater asset for a global CFO because that prior experience can at times be a handicap ? While specific industry experience can be beneficial for a CFO, it is not always essential, especially for a global CFO. In fact, a lack of industry experience can sometimes be an asset, as it brings fresh perspectives and a broader range of skills and knowledge from different sectors. A global CFO needs to have a strong understanding of finance and business principles that can be applied across industries. They should possess the ability to analyze financial data, make strategic decisions, and manage risk effectively. These skills are transferable and can be applied to any industry. Furthermore, a global CFO should have a global mindset and be able to navigate different cultural, regulatory, and economic environments. This requires adaptability, open-mindedness, and the ability to learn quickly. These qualities are not necessarily tied to industry experience but can be developed through exposure to diverse business environments. However, it is important to note that industry-specific knowledge can still be valuable in certain situations, such as when dealing with complex regulations or understanding specific market dynamics. In such cases, a CFO with industry experience may have an advantage. Ultimately, the key to sourcing the right candidate lies in the hiring team's ability to recognize the value of transferable skills and competencies, as well as their openness to considering candidates from diverse backgrounds. By focusing on the core competencies and qualities required for the role, rather than solely on industry experience, the hiring team can find a CFO who is well-equipped to drive the company's success in a global context.

Talk to Andy Scott to find out more about this scaling business and CFO position.

CEO: Hiring a full-time finance director makes sense at this stage Me: What stage is that? CEO: We're 2 years in and I'm still managing all the finances. So we need an experience CFO to take the reigns. Me: Have you considered a fractional CFO to save on salary and potentially a Finance Manager or Financial Controller to fill the gaps? CEO: *Mind blown* 🤯 We're nearly 7 years into helping SMEs access fractional finance experts for their scaling businesses. How do we differ from our competitors? We don't only match you with CFOs, we match you with fractional and flexible finance roles based on your business needs - saving you money in the long run. Pop me a DM to book your consultation. #smeowner #financetips #entrepeneur #smefinance

CFOs - are you just overpaid Finance Managers? Are you any better than your CAROs and CAPOs (Chief Accounts Receivable/Payable Officers)? Would you like to work with (NOT manage) someone who has a technology background but understands business, has an MBA, understands P&L, capex, opex, depreciation, investments, etc.? Why are you hiring senior developers (aka CTOs - or any of the other of the plethora of so-called tech related C-level titles) to work for you and just make your life harder? Talk to your CEO/board and hire a true CIO, who has an MBA and is used to addressing boards and PE/VC companies. Reach out to me today and let me make your life easier and allow you to show true ROI for technology expenditure, with REAL Business Cases - that consider the future and TCO, not just immediate spend. Banks expect a Business Case for loans, I give you nothing less for tech expense. Sound like a dream? Make it a reality - contact me.

Don't fall for the 'we need a CFO' trap. We recently sat down with our CEO and co-founder, Matt Gardner and captured his hot take after being on both sides of the professional services and now CEO and co-founder trench. Agree or disagree? "My hot take on hiring a finance leader in early-stage companies: 99% of the time, you DON'T need a full-time CFO. What you ACTUALLY need is: * An outsourced expert finance operations team * Operational rigor * Cutting-edge financial technology * Solid finance processes and systems Why? Because this combo will: * Take you further, faster * Save you significant capital * Provide a better financial foundation and longer-term success In the early days, your money is often better spent building product-market fit and investing in areas that actually grow your business. Don't fall for the 'we need a CFO' trap. Instead, build a lean, mean, financially savvy machine. Your future self (and investors) will thank you."

One thing I've learned from speaking with finance leaders is that you can have exceptional technical ability for FP&A, but if you can't develop, long-lasting and strategic relationships, you will fall behind. Having an exceptional business partner means: 1. Cross-function collaboration - Inter-departmental meetings with a purpose 2. Joint planning sessions - Supporting department heads with accurate forecasts 3. Integrated business planning - Aligned business strategy If you need a strategic advisor to take your finance function to the next level, hire a finance business partner. On this topic, I'm working with a Private Equity-backed SaaS business that is looking for a #2 to the CFO to take the lead on strategic initiatives. Alternatively, send me a message if you're thinking of hiring for your finance team. #FPandA #BusinessPartner #Growth

Small and medium sized organizations that are experiencing rapid growth, but do not yet have the financial capacity to take on a full time CFO, can still benefit from having access to much needed financial expertise by hiring a fractional (or part-time) CFO. Whether it is helping your organization maximize profitability through actionable financial planning and analysis and recommendations, boosting cashflows, risk management or implementing sound financial practices and processes to drive long term profitability, there are numerous benefits to hiring a fractional CFO.