The CFO'S Perspective

Organizations looking to outsource their financial needs often wonder who is best qualified to handle the intricacies of their business operations.

With the multitude of options available the landscape of potential financial solutions is vast. Factor in the solutions catered specifically towards SMBs, local businesses, privately-held businesses, and businesses in designated industries and the result is an overwhelming sea of possibilities. Within these choices are two distinctly different options – freelancers and firms.

Business owners tend to struggle with determining which type of provider will best suit their needs. Will a solopreneur or freelance CPA-CFO be sufficient? Or is a larger firm a better option?

Most of my vacations are pretty typical – camp on the Sound, cruise to Alaska, plane trip to kid-friendly destination, road trip to friends. 

... but not this year.

This year, I fulfilled a long-time dream and went to Africa.  I did the multi-day safari, fed the giraffes at the Giraffe Center in Nairobi, and enjoyed local cuisine and cultures. But mostly… I did financial spreadsheets.  And IT infrastructure planning. And computer teaching.  In other words, pretty much the same things I do all the time, except in hotter weather.

Nick Anderson (Columbia Bank) recently invited Bill Palmer (CFO Selections) to be interviewed in a 4-video series. Nick and Bill had an in-depth conversation about the 3 P’s:

1. Finding the right Partner
2. Getting the right Products
3. Negotiating a fair Price.

The series was shared via LinkedIn but in case you missed it, we have the four-video series wrapped up into one.

After a year of strategizing, planning, training and stress, my wife, Heather and I participated in the one-of-a-kind 7-day BC Bike Race in beautiful British Columbia.

As the leader of our executive search practice, the most common question I get asked is, “What is the market like for CFOs?” 

My reply has generally been, “Well, in the Pacific Northwest there is an oversupply of experienced CFOs but not enough ‘up and comer’ CFOs”. 

I also mention: “It will cost you a lot more to get an inexperienced CFO than it did in the past.” 

Why do I say this?  It is all about demographics and supply and demand.

Trust is like the air we breathe — when it’s present, nobody really notices. When it’s absent, everyone notices.”  — Warren Buffett

Integrity in business is an essential ingredient for sustainable, long-term, business growth and success. It can be hard to define and difficult to measure, but you know it when you see it, and it’s clear when it’s not there.

Today Eric Moore shares his thoughts about the book: “Can't Hurt Me: Master Your Mind and Defy the Odds” by David Goggins

About David Goggins:

“For David Goggins, childhood was a nightmare - poverty, prejudice, and physical abuse colored his days and haunted his nights. But through self-discipline, mental toughness, and hard work, Goggins transformed himself from a depressed, overweight young man with no future into a U.S. Armed Forces icon and one of the world's top endurance athletes. The only man in history to complete elite training as a Navy SEAL, Army Ranger, and Air Force Tactical Air Controller, he went on to set records in numerous endurance events, inspiring Outside magazine to name him The Fittest (Real) Man in America.”

On to the cloud… Accounting and finance applications have been expanding into the cloud ever since the advent of the internet.  In Seattle, Amazon AWS and Microsoft Azure are betting their future on the cloud which has had a huge impact on the local community.  I see more and more cloud based  accounting and financial applications that perform critical business functions. Each makes the promise to bring cost savings and efficiencies to the business owner. 

To determine how cloud applications were impacting our clients, I surveyed our associates (contract CFOs, controllers, accountants and bookkeepers) to see how extensive cloud-based applications are being used.