By Rich Bond
A few years ago I met a business owner and founder named Ed, who not only bootstrapped his startup; he grew it into an Inc. 500 Company and sold it to a Fortune 100 corporation. While he attributes his success to many factors, one that really stands out is that the management team he put together during the expansion stage acted as a huge catalyst for growth and profitability.
He called the hires he made “Lightning in a Bottle.”
One of those lightning bolts was a new CFO. As Ed grew his business, the person who was in the bookkeeping and systems management position simply could not keep up with what was required. Ed knew he needed a different level of experience and expertise to manage the financial complexities of growth. He created the position of CFO and went looking for someone to fill it.
In a book he coauthored with a woman I work with, Ed describes the transformation his new CFO made:
- Designed the company’s internal operating model
- Reengineered the financial and accounting system
- Put together the technology development team
- Played a crucial role in facilitating the sale to the Fortune 100 Company at an excellent valuation.
You can read more in Ed’s book “The Purpose Is Profit: The Truth About Starting and Building Your Own Business.”
If you feel that your business could use a jolt to help you jump to a higher level of sales and profitability, please contact me. We can discuss how I can help you find a CFO or Controller who could become your “Lightning in a Bottle.” Email me at: richard.bond@bondandcompany.com
