Four Lessons for Finance from an Entrepreneur
By Andy Burrows
I started Supercharged Finance in September 2016. It’s my business.
But I’m also a seasoned Finance professional, with 25 years’ experience, including a period as a Finance Director.
I worked in Finance teams, big and small, for most of my career, and then I decided to set up a business of my own. So, I guess that makes me an entrepreneur!
And I’ve felt for a while that if you want to be a good CFO or a good Finance business partner, then starting your own business teaches you important lessons.
The question as a Finance professional, as a CFO or Finance business partner is, “if it was you who owned or invested in this business, how would you run it?”
And what I’ve found is that when it’s your own business – when it’s your baby – as someone trained and experienced in Finance, you definitely use that experience, but there are some things that you start to see more clearly and do differently. Here are...
Business Performance Reporting - It's Not All About the P&L!
By Andy Burrows [originally published September 2016]
If you are going to be successful in managing your business, you need measurement. You need facts that tell you how well you are doing and where you need to improve.
And those measures of success are much broader than just financial measures, such as profit, cash, margins, etc, however important they are.
How do you make sure that your business is heading in the right direction? How do you make sure that your strategies are working? How can you even tell if your strategies are being implemented correctly?
Is profit the only measure of success? Does profit tell you anything about whether you are achieving your vision?
Let’s say my vision was to become number 1 in a particular market. How would I know how close I was to achieving that? Not by looking at my profit in isolation.
And just asking that question leads to other useful questions that clarify what I am aiming at. For instance, what does becoming number 1 mean? Number...
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