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Latest podcast episodes about chief financial officers

Congressional Dish
CD267: The Monopoly Powers of Live Nation/Ticketmaster

Congressional Dish

Play Episode Listen Later Jan 29, 2023 102:56


Live Nation and Ticketmaster merged over a decade ago and Congress is concerned - for good reason - that the company is exerting monopoly powers over the live event industry. In this episode, learn how the merger was allowed to happen in the first place, the problems that industry participants and competitors are having with the company, and what Congress is thinking of doing about it. Please Support Congressional Dish – Quick Links Contribute monthly or a lump sum via PayPal Support Congressional Dish via Patreon (donations per episode) Send Zelle payments to: Donation@congressionaldish.com Send Venmo payments to: @Jennifer-Briney Send Cash App payments to: $CongressionalDish or Donation@congressionaldish.com Use your bank's online bill pay function to mail contributions to: 5753 Hwy 85 North, Number 4576, Crestview, FL 32536. Please make checks payable to Congressional Dish Thank you for supporting truly independent media! View the shownotes on our website at https://congressionaldish.com/cd267-the-monopoly-powers-of-live-nation-tickemaster Background Sources Event Ticketing Market “Event Ticket Sales: Market Characteristics and Consumer Protection Issues” [GAO-18-347]. Apr 12, 2018. U.S. Government Accountability Office. Live Nation Overview “Live Nation Entertainment Website.” “Live Nation Entertainment 2021 Annual Report” “Live Nation Entertainment: Totals.” Open Secrets. “Live Nation Entertainment: Lobbying.” Open Secrets. Ticketmaster “Everyone hates Ticketmaster. Is everyone wrong?” August Brown. Jan 24, 2023. The Seattle Times. Taylor Swift “Taylor Swift ‘Ticket Sale Disaster' Sparks Suit Against Ticketmaster, Live Nation.” Ashley Cullins. Dec 5, 2022. The Hollywood Reporter. “Taylor Swift on Ticketmaster Tech Issues: ‘We Were Assured' They Could Handle the Demand.” Caitlin Huston. Nov 18, 2022. The Hollywood Reporter. “Taylor Swift Tour: Live Nation CEO Says ‘Everybody Crashed the Door' During Presale.” Caitlin Huston. Nov 17, 2022. The Hollywood Reporter. Bad Bunny “Spending a Month's Salary to See Bad Bunny, Only to Be Turned Away.” Maria Abi-Habib. Dec 16, 2022. The New York Times. “Ticketmaster Crashes Right on Cue During Bad Bunny Ticket Sale.” Dylan Smith. Apr 15, 2021. Digital Music News. BTS “BTS Vegas Sells Out as Ticketmaster Verified Fan Fails Fans (Again)” Dave Clark. Mar 3, 2022. Ticket News. “BTS SoFi Stadium Concert Tickets Sold Out In Pre-sale; ARMY Expresses Disdain On Twitter.” Fengyen Chiu. Oct 11, 2021. Republic World. Adele “Sky-High ‘Dynamic' Adele Ticket Prices Sting ‘Verified' Fans.” Dave Clark. Dec 8, 2021. Ticket News. Pixies “Everyone Hates Ticketmaster — But No One Can Take It Down.” Steve Knopper. Nov 1, 2010. Wired. Bruce Sprintsteen “Bruce Springsteen Defends High Ticket Prices for Upcoming Tour.” Alex Young. Nov 18, 2022. Consequence Sound. “Bruce Springsteen ‘Furious' At Ticketmaster, Rails Against Live Nation Merger.” Daniel Kreps. Feb 4, 2009. Rolling Stone. Pearl Jam “1994: A look back at when Pearl Jam took on Ticketmaster.” Shawn Garrett. Nov 17, 2022. KIRO 7 News. “Pearl Jam: Taking on Ticketmaster.” Eric Boehlert. Dec 28, 1995. Rolling Stone. “Pearl Jam Musicians Testify On Ticketmaster's Prices.” Reuters. Jul 1, 1994. The New York Times. Ticketmaster Scalper Program “Ticketmaster Resale Returns to Broker-Focused Conferences Despite Past Controversy.” Dave Clark. Jul 8, 2021. Ticket News. “'Hand caught in a cookie jar': Band managers demand answers about Ticketmaster's secret scalper program.” Rachel Houlihan et al. Oct 18, 2018. CBC News. “'A public relations nightmare': Ticketmaster recruits pros for secret scalper program.” Dave Seglins et al. Sep 19, 2018. CBC News. Antitrust Policy and Enforcement “Principal Deputy Assistant Attorney General Doha Mekki of the Antitrust Division Delivers Remarks at Mercatus Center Second Annual Antitrust Forum: Policy in Transition.” Doha Mekki. Jan 26, 2023. U.S. Department of Justice. “Competitive Edge: Structural presumption in U.S. merger control policy would strengthen modern antitrust enforcement.” John Kwoka. Dec 19, 2018. Washington Center for Equitable Growth. “Supreme Court Overrules 96 Year-Old Rule in Dr. Miles and Holds Vertical Price Agreements Are Neither Per Se Illegal Nor Per Se Legal, But Subject to Case-By-Case Test.” Jul 5, 2007. Sheppard Mullin. “In Major Antitrust Decision, Supreme Court Overrules 1911 Precedent to Declare Vertical Minimum Price Restraints to Be Governed by Rule of Reason.” Alan S. Middleton. Jul 3, 2007. Davis Wright Tremaine LLP. “Section 7 of the Clayton Act: Its Application to the Conglomerate Merger.” Richard B. Blackwell. March 1972 *13(3). William & Mary Law Review. Mergers and Monopoly Power “Anti-Monopoly Basics: Monopoly by the Numbers.” Open Markets Institute. Live Nation-Ticketmaster Merger “U.S. and Plaintiff States v. Ticketmaster Entertainment, Inc. and Live Nation Entertainment, Inc.” U.S. Department of Justice. Final Judgment (July 2010) Motion to Modify Final Judgment and Enter Amended Final Judgment (January 2020) Amended Final Judgment (January 2020) Kroger-Albertsons Merger “Kroger-Albertsons Merger Faces Long Road Before Approval.” Julie Creswell. Jan 23, 2023. The New York Times. “FTC issues 2nd request to Kroger on planned Albertsons acquisition.” Russell Redman. Dec 6, 2022. Winsight Grocery Business. Laws S.3183 - BOTS Act of 2016 Bills S.225 - Competition and Antitrust Law Enforcement Reform Act of 2021 Sponsor: Amy Klobuchar (D-MN) Audio Sources That's the Ticket: Promoting Competition and Protecting Consumers in Live Entertainment January 24, 2023 Senate Committee on the Judiciary Witnesses: Joe Berchtold, President and Chief Financial Officer, Live Nation Entertainment, Inc. Jack Groetzinger, Chief Executive Officer, SeatGeek, Inc. Jerry Mickelson, Chief Executive Officer and President, Jam Productions, LLC Sal Nuzzo, Senior Vice President, The James Madison Institute Kathleen Bradish, Vice President for Legal Advocacy, American Antitrust Institute Clyde Lawrence, Singer-songwriter, Lawrence The Ticketmaster/Live Nation Merger: What Does it Mean for Consumers and the Future of the Concert Business? February 24, 2009 Senate Committee on the Judiciary, Subcommittee on Antitrust, Competition Policy and Consumer Rights Watch on C-SPAN Witnesses: Irving Azoff, Chief Executive Officer, Ticketmaster Entertainment, Inc. Jerry Mickelson, Chairman and Executive Vice President, JAM Productions Michael Rapino, President and Chief Executive Officer, Live Nation, Inc. David A. Balto, Senior Fellow, Center for American Progress Action Fund Seth Hurwitz, Co-Owner, I.M.P. Productions and 9:30 Club Pearl Jam vs. Ticketmaster (1994) YouTube Cover Art Design by Only Child Imaginations Music Presented in This Episode Intro & Exit: Tired of Being Lied To by David Ippolito (found on Music Alley by mevio)

Inside Outside
Storytelling & Failure Narratives in Innovation Cultures with Stephen Taylor of Untold Content

Inside Outside

Play Episode Listen Later Jan 24, 2023 20:51


On this week's episode of Inside Outside Innovation, we sit down with Stephen Taylor, Chief Innovation Officer at Untold Content. Stephen and I talk about the importance of storytelling, failure narratives, and its impact on the innovation culture of companies. Let's get started.Inside Outside Innovation is a podcast to help new innovators navigate what's next. Each week we'll give you a front row seat into what it takes to learn, grow, and thrive In today's world of accelerating change and uncertainty. Join us as we explore, engage, and experiment with the best and the brightest, innovators, entrepreneurs and pioneering businesses. It's time to get started.Interview Transcript with Stephen Taylor, Chief Innovation Officer at Untold ContentBrian Ardinger: Welcome to another episode of Inside Outside Innovation. I'm your host Brian Ardinger, and as always, we have another amazing guest. Today we have Stephen Taylor. He is the Chief Innovation and Chief Financial Officer at Untold Content, where he focuses on helping organizations accelerate innovation through the power of storytelling. Welcome to the show. Stephen Taylor: Thanks Brian. Glad to be here.Brian Ardinger: This whole concept of innovation storytelling, it's becoming more and more popular as people are trying to understand like, how do I actually get movement on my innovation initiatives? And a lot of it comes down to, you know, the stories that you tell. So, I wanted to have you on the show, because you have a company that focuses on this. Why don't we talk about the definition? What is innovation storytelling? Stephen Taylor: Yes. Innovation storytelling is something that is near and dear to my heart. So, I am a chemist by training. I did my PhD in chemistry, did a postdoc. Went out into industry and was there for about a decade. And I felt the pains of how you actually get buy-in, even within a smaller organization. I think we had 250 people. But how do you actually get buy-in on ideas. Or how do you kill ideas that don't fit? You know, how do you find out what is the right decision. And so that was something that I became very passionate about. And so, when I left industry and joined Untold, I really wanted to spend a lot of time focusing on how do innovators communicate, even as a scientist. How do scientists communicate?So, what we found through our research is that innovation storytelling is the art and science of communicating strategic narratives and personal stories around innovation objectives in order to drive them forward. It really works on trying to make things that are very strategic, but also bring those personal experiences in.Because what we found is that organizations have overall these strategic narratives that, that they're trying to force. When you have an idea or something that you're trying to bring forward, you have to ensure that there's good alignment between those stories and that narrative. And so, they really play in concert together. So that's why we include both those as a part of the definition. Brian Ardinger: Yeah, part of it's like that translation service almost. Sometimes it's a technical translation of, what the heck are you talking about? It's more about how do you align that with the other stories that are being told in the organization so that you can make sure that people understand what you mean.I think, you know, when I go out and talk to companies, you know, one of the first things I like to do is how do you define innovation? Because I think that alone, causes problems with a lot of organizations. It's like, well, for me it means, you know, creating the next flying car. Where another person in the organization may mean that innovation is creating something new with our existing customers. And so, right. You know, if you don't have alignment from that perspective, you can go sideways really quickly. Stephen Taylor: We spend time talking about story led innovations versus innovation led stories. So, story led innovation is essentially a project that you may get from your advisor. Or from your boss. And so, a project comes in, the story's already aligned, so it's easy to prioritize that work.And so, you're just working on communication at that point, a strategic communication. But if you're working on a innovation led story, that's where you come and you find something. Well, now how do you get it in line? How do you make something that's new, that has potential that's maybe adjacent? How do you decide, how do you try to create that alignment narrative? And so those are, those are things that we teach as a part of our curriculum. Brian Ardinger: That brings up a couple of interesting questions I have around this idea of innovation usually is in this uncertain area. You know, it's, it's a new idea that you want to create in the world that doesn't always align to the execution side of the business. But yet you have to try these things and do a lot of things to move that idea forward, and a lot of times you're going to fail at that. So, can you talk a little bit about power of failure and, and how do you translate that from a story perspective to let people understand that that's part of the process? Stephen Taylor: Yeah, that's a really good question. So, there's a lot of ways that you can go with this. One way that we think about failure is actually relates back to the Hero's Journey. So, when it comes to the Hero's Journey, you know, you can take the whole 17 step process from Joseph Campbell and his original work on the Hero's Journey, or you can really try to simplify it.And the way that I like to think about it is you receive the call for a journey. You go out through a transition called the transition from the known to the unknown. You then go on your journey, you do your discoveries, whatever. You collect the boons from the journey, which are the gifts to be given back. You then bring those back through that transition point back to your community.And then the hero is recognized with monuments and statues and everything. Joseph Campbell's work was really based around tribal behavior. And when you think about tribal behavior, there's a lot of analogies to the innovation groups that are out there in the unknown trying to find what's next.For the heroes they get these large statues and monuments, but for the failures, they put together rituals. And because the rituals are points where we come back together and actually share best practices, share things that we've learned, to take those learnings from failure and use those to bless back to the community. And so, what we've seen through our research is that there are many points where people are starting to implement these failure rituals.And so, there's several different examples. There's a classic one, Ben and Jerry's. Ben and Jerry's Failure Graveyard is a classic failure ritual. There's Miter. Miter does Failure Cake. So, within Failure Cake, what happens is that they basically bring out a sheet cake into a cafeteria and they say, If you want a piece of cake, you need to share a failure story. And it's really to get those stories of failure being shared in those best practices and lessons learned.Then there's also DuPont. DuPont's doing an Annual Dead Project's Day around Halloween. And so, the whole point is to get lots of their innovators and their scientists together to share their experiences. But you have to have those points of sharing. And what we found in parts of our research is that 83% of large organizations share innovation stories, but only 26% share stories of failure.But because a lot of innovations fail, you lose so much. And so, implementing these, these rituals into their yearly practices can go a long way to capturing those insights, but also unifying their community. Brian Ardinger: So, do you have any tactics of, let's say I'm working in an organization, and I buy into the fact that I need to celebrate these failures and at least tell these stories so that you know that not everything's going to be a success when you go through something new. How do you get buy-in to even have a ritual, like a failure cake, or things along those lines? Stephen Taylor: A lot of times getting buy-in for that is showing the value that's created. So being an innovator, trying something first. And so, a lot of times what we've found is that people are really actually excited to share these failure stories. Because it's things that they hold onto that really drive them.And so, them being able to share those with the group is really strong. But one of the biggest values is actually hearing someone who is, let's say for instance, you have a hero because within the Hero's Journey, you have people that basically go out onto their journey, they come back and then they may never go out on a journey again.But that's not the life of an innovator, of a scientist. They constantly have to go back to the bench or go out and do stuff again. So, to hear someone who maybe is a hero from one project, and they have war that's existing for them. For them to say, hey, you know, here's a failure story of mine. Think of how that sounds to someone who's a new scientist or a new innovator that's really gung-ho on their first project.You know, to be able to hear that, you know, this may not work out and that's okay. I've had a whole slew of failures throughout my career. I'm still here and still doing great stuff. You know, that's really helpful and it helps people be able to realize like this is not my baby. You know, this is a project that I'm working on. We're going to push it as far as we can. We're going to try to achieve the goal, and if it doesn't work out, there's going to be the next thing. Brian Ardinger: So, let's talk a little bit about the process that a company can go through to tell better stories and to put this actually into practice. Are there particular methodologies or tactics that companies should be looking at or walk me through the process.Stephen Taylor: We had a podcast called Untold Stories of Innovation. And in that podcast, there was a qualitative research study. And one thing we wanted to hear is like how people utilize stories in their innovation cultures, but then also listen to the stories and dissect them. And we heard several different story frameworks used time and time again. And the two that are most prevalent are ABT and CAR.CAR is very well known. It has a lot of different names to it, but it's Challenge Action Results. And the importance of Challenge Action Results from a natural language processing standpoint is that it alleviates cognitive tension. Basically, says like, here is the challenge. Here's the action we took. Here are the results that we got.But in order to alleviate cognitive tension, we had to create cognitive tension. And that cognitive tension is actually created through a framework called ABT. That ABT (And, But, Therefore) is popularized by Randy Olson. The framework for ABT is ordinary world and something at stake, but there's some type of tension, there's some problem, there's something that's preventing us to realize the value that's there.Therefore, here's our proposed solution. And when those two get paired together, you basically have a framework to present and solve a problem. But then you can interlace into that lots of different story patterns. To make storytelling one very strategic and very mission focused, but also very purposeful and concise.Brian Ardinger: So, is this something that product teams and that at the beginning of the project start literally mapping out what story they think the new idea is going to go on? Or how does this actually work in practice? Stephen Taylor: It really works in practice by understanding who your audience is and what you're trying to get out of what information that you're needing, what buy-in you're needing. I'm really trying to map the story that you're sharing with that audience. Because there is no one story framework that rules 'em all. You know, you can talk about brand story, you can talk about Hero's Journey. There's a variety. And so, the more that you practice and practice from a standpoint of trying to understand your audience and what it is that they need in order to make a decision that you're hoping for them to make, that really helps you with crafting something that really gets at that goal. Brian Ardinger: So, I would imagine that the teams need to develop different types of stories. So, for example, inside stories where they're trying to communicate to management or other collaborators within the organization and that story of what they're building and why. May be different than an outside story, which would be maybe to the marketplace or to the consumers. Am I reading that correctly? Stephen Taylor: Yeah. Oh, absolutely. So prime example, we had an interview with Jim Murkowski from Ecolab. And they told a story about this new technology that they had developed for detecting Legionella, for Legionnaire's disease.And it was, you know, we do this whole breakdown of the story in our courses. He uses a framework, he uses CAR because it was in the past, we're informing people. So, it's challenge, action, results, and just it is the most clean, obvious innovation to do. They basically took a process that took two weeks to get results and now people can actually get that result in minutes. And make you know, really good decisions based on the information.But that story that you tell external is nowhere near what happened actually internal to that organization. Because Eco Lab was the group who actually did all the water testing. And so internally it was a story of self-disruption. Because you can imagine the feedback they got when they came out with this new technology and say, hey, we don't need to do testing in the lab anymore. You know, we don't need water samples. They can do it on their site. Everything was fear pushback. Like, oh, you know, the quality. Oh, you know, can you really trust them to do it right. You know, all these things. Because it was going to disrupt a lot of systems that they already had in their organization. So, the storytelling can't be the same because the challenge that you're trying to solve is fundamentally different.Brian Ardinger: How would you go about testing your stories to know if you have the right story to the right audience? Are there particular ways that you should be testing your stories or talk a little bit about that. Stephen Taylor: Having those ritual opportunities, there's a lot of these already built in. You know, groups have group meeting pretty often. You know, you get feedbacks through your emails when you're sharing information. There's lots of these points, but you had to look at them as being strategic. Innovators spend 30% of their work week in some form of storytelling. We put out a survey. We had a hundred people fill out the survey. It was 12 hours a week. We've worked with probably 300 to 500 innovators so far in the last year. They've completed the same survey. Theirs was like 12 to 15 hours a week. So, you're spending a lot of time either crafting stories, sharing stories, or listening to stories. And if you take that time very seriously and start thinking about it very strategically, you can start using those opportunities as a way to get feedback on the stories that you're sharing and seeing what is resonating, what is not resonating. So, these meetings, the emails, the water cooler conversations, those are all strategic points that you have where you can actually build up these skills. Brian Ardinger: One of the biggest challenges that I've seen working with companies is oftentimes you have different business units that value innovation differently. And so, telling that initial story that innovation is important, often sometimes falls on different audiences. So, do you have any advice or thoughts on how do you get alignment on just the concept of why innovation is important and the stories you need to tell around that? Stephen Taylor: Yeah, so, so that's a really good point. Always within any project, you know, project teams do this naturally is identify who are the stakeholders. But then are you actually going out and spending time with the stakeholders?Do you take a day? How much time could we save in our storytelling, if we took a very slow step, first, went and spent a day with our consumers or with our stakeholders and just heard the things that they talk about, you're not there to make decisions. You're just there to observe. What do they do? What are the major discussion points?Am I actually presenting information to them that they really care about. Or am I just throwing information out there that is not aligned with the conversations that they're having? If we can use storytelling to create those points of alignment between those business units that have different priorities, which most of them will, you can make the time that you're spending communicating more effective and more efficient. Brian Ardinger: How can someone learn to be a better storyteller? Are there particular things they should be reading or looking at, or resources they should be delving into? What's a good way to become a better storyteller? Stephen Taylor: Obviously at Untold, we have a course that's entirely built upon innovation storytelling. We really are the first group to really look at storytelling from an innovation perspective. We bring in a lot of peer review literature and really try to paint this cohesive, basically try to pull a lot of the information together on what is the best practices to date. And then how do we use these strategic frameworks and these patterns? So that's the first thing is that I'm going to plug in ourselves because I think that the experience that we create and the outcomes from the experience are really, really impactful.And what I'm going to say is that, again, storytelling is something that is evolutionary. You become a better storyteller. So you go through the trainings, but you don't stop there. You constantly look for new resources. And so one of the things that we give out as a part of our course once you complete it, is that you get a book on storytelling. But it could be something like the Fearless Organization because psychological safety has big impacts on people feeling like they can share stories.So, there's lots of books and there's lots of literature out there that you can continue to dive into. There are things like pep decks that have little introductory parts for storytelling. But it's one of those things that us as innovators who are not afraid to go out into the wilderness, into the unknown and take the first step is that we have to be able to do that with our education and realize that this is a journey as well.And the more that we learn about storytelling, the more that we see ourselves as innovators within these larger organizational narratives and also within our own personal story. Continue learning. Don't stop at one. Lots of perspectives out there on storytelling that are fantastic. For More InformationBrian Ardinger: Well, that's a great way to end because one of the last questions I always ask is, how can people, if they want to learn more, reach out to you and your company? Stephen Taylor: www.untoldcontent.com. You can also reach out to me. My name's Stephen Taylor. My email is stephen@untoldcontent.com. So, you can reach out to us in those ways. The other thing that I would recommend everyone look at is a new venture that we are starting up called Narratize.So, you can go to Naratize.com and at Narratize we are working on developing a storytelling platform for busy professionals. A communication platform for busy professionals. The idea is can you create a white paper in a day or in a couple hours. It's an AI-based tool that really helps you share the insights that you know to create these deliverables that you have to work on. So, it is currently a pitch builder. But it is quickly evolving into lots of other points of content. You can check us out at naratize.com as well. Brian Ardinger: Obviously the world is changing quite a bit with AI and Chat GPT and all these kinds of things and makes it easier and harder at the same time to tell your story. So yes, Stephen, I appreciate you coming on Inside Outside Innovation to share your insights on that. I look forward to continuing the conversation and hearing more stories in the future. So, thanks very much. Stephen Taylor: Awesome. Thanks Brian. I really appreciate it.Brian Ardinger: That's it for another episode of Inside Outside Innovation. If you want to learn more about our team, our content, our services, check out InsideOutside.io or follow us on Twitter @theIOpodcast or @Ardinger. Until next time, go out and innovate.FREE INNOVATION NEWSLETTER & TOOLSGet the latest episodes of the Inside Outside Innovation podcast, in addition to thought leadership in the form of blogs, innovation resources, videos, and invitations to exclusive events. SUBSCRIBE HEREYou can also search every Inside Outside Innovation Podcast by Topic and Company.  For more innovations resources, check out IO's Innovation Article Database, Innovation Tools Database, Innovation Book Database, and Innovation Video Database.   

Improve Healthcare
Implementing Health Equity with Inovcares CEO - Mohamed Kamara

Improve Healthcare

Play Episode Listen Later Jan 23, 2023 21:33


Mohamed is the founder and CEO of InovCares Connected Comprehensive Healthcare, LLC.He was inspired to develop InovCares following the tragic loss of both his sister and his aunt to pregnancy hemorrhage & preeclampsia. Previously, Mohamed was the Director of Operations for the Russell Innovation Center for Entrepreneurs. During his time at the center, he supported150 minority-led businesses from idea to growth stage and headed the center's nonprofit financial statement preparation, budgeting, billing, and receivables, building operations, and maintenance. Mohamed has served as Entrepreneur-in-Residence for Goodie Nation - a nonprofit supporting 350 impact-driven founders with connections, access to capital, and customers. He also held positions as Chief Financial Officer for Wellness Healthcare Clinic - a comprehensive behavioral health and addiction medicine clinic supporting underserved patients impacted by opioids. Mohamed is also the host and producer for The Empowered Patient Podcast sponsored by InovCares, where he connects with healthcare providers, payor executives, and other healthcare leaders. He has held several roles as Program Leader for Startup Leadership Program, Manager of FP&A for National Fire Sprinkler Association, Senior Financial Analyst for TSYS, Senior Valuation Analyst for Rea & Association, and Senior Financial Analyst for AirNet Systems, Staff for Ernst & Young. Mohamed holds an MBA in Finance from Mount Vernon Nazarene University, where he served on the Alumni Association council board. He received his BSBA in Economics & Accounting with a minor in Political Science. He served as President of the Accounting Association and founded a nonprofit - Voice of Africa, that connects high school students to college campus mentors. He has been featured by Forbes, Google, Google Play, Android, Axios, Washington Post, Politico, Protocol, Medscape Education, Becker's Healthcare, AfroWellness Magazine, and other news outlets for his work with InovCares.Learn More about InovCares

Making Billions: The Private Equity Podcast for Startup Founders and Venture Capital Investors
ClearSummit - How Venture Capital Deploys Rapid Innovation

Making Billions: The Private Equity Podcast for Startup Founders and Venture Capital Investors

Play Episode Listen Later Jan 23, 2023 27:08 Transcription Available


Have you ever wondered how the best startups and Venture Capital funds rapidly innovate to create products that dominate their market? Well in this week's episode of Making Billions, I bring on Shane Zillinskas from the Micro Venture Capital Firm, Clear Summit.  Shane will speak on how to implement rapid innovation for successful investments and products.WANT TO LEARN HOW THE BEST INVESTORS MAKE MONEY? SIGNUP FOR OUR NEWSLETTER:https://mailchi.mp/d41cfc90bd9f/subscribe-to-newsletterSubscribe on Youtube:https://www.youtube.com/channel/UCTOe79EXLDsROQ0z3YLnu1QQConnect with Ryan Miller:Linkedin: https://www.linkedin.com/in/rcmiller1/Instagram: https://www.instagram.com/makingbillionspodcast/Twitter: https://twitter.com/_MakingBillonsWebsite: pentiumcapitalpartners.com[THE GUEST]: Shane Zilinskas is a software engineer turned entrepreneur. In the early years of his career, he acquired a wide range of experience by working for companies in the media, health, fintech, and aviation industries. He used these experiences to conceptualize, build and sell his SaaS and mobile technology companies.In 2014, Shane co-founded ClearSummit, a product-first development, and design agency. Over the last 8 years, his team has built products that serve millions of active users, won several awards for app quality, and supported companies raising $200m+ in funding.[THE HOST]: Ryan is a Venture Capital & Angel investor in technology and energy. He achieved placement growth of 5200% ROI in his first 5 years in the industry. His Podcast, “Making Billions”, was recently ranked in the top 20 Venture Capital Podcasts on the Planet! Previously he served as a Chief Financial Officer for a National, award-winning InsurTech company, which he grew 50% year-over-year. Managed and mentored 250 professionals while serving in this role. Additionally, he has mentored over 500 emerging fund managers to start and scale their investment funds, totaling nearly $1B in funds raised to date. In addition to mentoring emerging fund managers, Ryan has managed a $250M portfolio of technology investments & start-ups. He has a BSc. in Finance and a Master of Financial Management and he is currently the Founder & Managing Director at Pentium Capital Partners specializing in Financial Consulting and Venture Capital investments.                                                                                                              DISCLAIMER: The information in every podcast episode “episode” is provided for general informational purposes only and may not reflect the current law in your jurisdiction. By listening to our episodes, you understand that no information contained in the episodes should be construed as legal and or financial advice from the individual author, hosts, or guests, nor is it intended to be a substitute for legal, financial, or tax counsel on any subject matter. No listener of the episodes should act or refrain from acting on the basis of any information included in, or accessible through, the episodes without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer, finance, tax and other licensed in the recipient's state, country or other appropriate licensing jurisdiction. No part of the show, its guests, host, content, or otherwise should be considered as a solicitation for investment in any way.Support the show

Bloomberg Businessweek
Putting More Women in Leadership Seats

Bloomberg Businessweek

Play Episode Listen Later Jan 20, 2023 7:59


Hope Dmuchowski, Chief Financial Officer at First Horizon Bank, discusses the rise of women CFOs and female finance leaders. Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan. See omnystudio.com/listener for privacy information.

Caught Red Pawdcast
Episode 24: John Glasgow

Caught Red Pawdcast

Play Episode Listen Later Jan 19, 2023 57:32


On today's episode, we have quite the mystery for yall! Jesse tells the story of the disappearance of John Glasgow, the Chief Financial Officer of CDI Contractors LLC in Little Rock, Arkansas. We need your opinion about what happened to him! Message us on Instagram @caughtredpawdcast

The Neil Haley Show
Bruce Magown of Integration Technologies

The Neil Haley Show

Play Episode Listen Later Jan 19, 2023 15:00


In this episode, Bruce Magown, CEO of Integration Technologies joins the show. Mr. Magown is the Chief Executive Officer, President, Board Member and Investor in Integration Technologies, Inc., (dba) InterWeave Smart Solutions, which provides a SaaS, IaaS Integration Service, consisting of three simple components; the InterWeave Integration Platform, the Integration Manager and the Interactive Development Environment. Mr. Magown is the Chief Executive Officer, President, Board Member and Investor in SecurDigital, Inc., the company that developed SecurVoice©; the voice, data and video encryption solution designed to pass FIPS 140-2 certification. Additional features in SecurVoice© are (PKI, 3DES, AES - and 27 other encryption algorithms) and VOIP. SecurVoice© has several modes of operation; they include two forms of encryption, two forms of cryptographic key management supported and three forms of communications when operating as a voice device. SecurDigital focus is executing and supporting the global distribution plan for SecurVoice© world-wide. SecurDigital has established SecurDigital© of Europe Ltd. (EU and Middle East), SecurDigital© Latin America (Central and South America) and SecurDigital© Africa, Pacific Rim and other global continents (future) are underway. Mr. Magown served as the Chief Operating Officer, Chief Financial Officer, head of the Audit Committee, Investor and Board member of the Uncommon Media Group, LLC. Mr. Magown subsequently served as President and Chief Operations Officer of Knoa Corp., a privately held company focusing on interactive and media rich solutions. Mr. Magown served as the Vice President of the strategic Alliance of Sun/Netscape formed by America Online and Sun Microsystems representing Canada, United States East Coast, and Latin America.

The HPScast
Chris Halpin - Chief Financial Officer and Executive Vice President of IAC

The HPScast

Play Episode Listen Later Jan 18, 2023 27:13


On this week's episode, host Colbert Cannon sits down with Chris Halpin, the Chief Financial Officer and Executive Vice President of IAC, or InterActiveCorp, the holding company behind digital consumer brands like Angie's List, Dotdash Meredith and Care.com. Chris launched his career at Goldman Sachs' real estate investment principal investing arm before pivoting to private equity at Providence Equity Partners. There, he had the opportunity to establish the firm's China business from Hong Kong – and a front row seat to the 2008 global financial crisis. Upon returning stateside, Chris tackled a new and humbling challenge with the NFL. He shares how he navigated the complexities of building consensus among 32 teams and steered the league into international markets before exiting to explore a new frontier in digital media tech.Learn more about Chris Halpin's role at IAC here. You can check out our guest's Best Idea, the book Black-and-White Thinking: The Burden of a Binary Brain in a Complex World by Kevin Dutton, here. Or read The Food Lab: Better Home Cooking Through Science by  J. Kenji López-Alt, Colbert's Best Idea for this week, here.

The Supporting Cast
David Weil ’93 on Harvard-Westlake River Park – TSC048

The Supporting Cast

Play Episode Listen Later Jan 16, 2023 54:43


In the fall of 2017, Harvard-Westlake acquired 17 acres of flat land in Studio City with the aspiration of building a third campus. More than five years later, the project, now known as Harvard-Westlake River Park, is potentially within months of gaining approval with the City of Los Angeles. To help provide insights into this transformational project is Harvard-Westlake CFO and River Park project lead, David Weil '93. In this episode, David speaks in detail about not only River Park's unique benefits to the health and well-being of Harvard-Westlake students, but also how the project will impact both the local community and natural environment—including the largest investments in environmental sustainability the school has ever undertaken. As Harvard-Westlake's Chief Financial Officer, David also speaks about managing a hundred million dollar financial operation, and how the school has managed to increase faculty and staff compensation at a higher rate than tuition for five consecutive years—a feat that should not be financially possible but that David has helped to make so. Lastly, David speaks about his own Harvard, Harvard-Westlake, and Pomona College experiences, and how the lessons of team sports have not only impacted him personally, but also make him the ideal leader for a community-centered athletic and recreational facility like River Park. David references Hans Palmer and Pat Mulcahy of Pomona College, in addition to Rob Levin of Harvard-Westlake, as profound life influences.

Making Billions: The Private Equity Podcast for Startup Founders and Venture Capital Investors
How to Negotiate and Dominate Your Next Private Equity & Venture Capital Deal - Corey Kupfer

Making Billions: The Private Equity Podcast for Startup Founders and Venture Capital Investors

Play Episode Listen Later Jan 16, 2023 45:34 Transcription Available


Have you ever wondered how the best negotiators get past the impossible and close deals or investors of their dreams? Well, in this week's episode, I bring on my dear friend Corey Kupfer, Corey is the author of the best-selling book authentic negotiating. He brings us into a masterclass on closing deals, investors, or new partnerships.WANT TO LEARN HOW THE BEST VC INVESTORS MAKE MONEY? SIGNUP FOR OUR NEWSLETTER:https://mailchi.mp/d41cfc90bd9f/subscribe-to-newsletterSubscribe on Youtube:https://www.youtube.com/channel/UCTOe79EXLDsROQ0z3YLnu1QQConnect with Ryan Miller:Linkedin: https://www.linkedin.com/in/rcmiller1/Instagram: https://www.instagram.com/makingbillionspodcast/Twitter: https://twitter.com/_MakingBillonsWebsite: pentiumcapitalpartners.com[THE GUEST]: Corey Kupfer is an expert strategist, negotiator, and dealmaker with more than 30 years of professional deal-making and negotiating experience as a successful entrepreneur, attorney, consultant, author, and professional speaker. He is the founder and principal of Kupfer & Associates, PLLC, a leading corporate and deal law firm; the founder and CEO of DealQuest, a speaking, training, and consulting company committed to inspiring authenticity in business; the author of the Amazon best-selling book Authentic Negotiating: Clarity, Detachment & Equilibrium - The Three Keys To True Negotiating Success & How To Achieve Them. He is also the creator and host of the DealQuest Podcast.[THE HOST]: Ryan is a Venture Capital & Angel investor in technology and energy. He achieved placement growth of 5200% ROI in his first 5 years in the industry. His Podcast, “Making Billions”, was recently ranked in the top 20 Venture Capital Podcasts on the Planet! Previously he served as a Chief Financial Officer for a National, award-winning InsurTech company, which he grew 50% year-over-year. Managed and mentored 250 professionals while serving in this role. Additionally, he has mentored over 500 emerging fund managers to start and scale their investment funds, totaling nearly $1B in funds raised to date. In addition to mentoring emerging fund managers, Ryan has managed a $250M portfolio of technology investments & start-ups. He has a BSc. in Finance and a Master of Financial Management and he is currently the Founder & Managing Director at Pentium Capital Partners specializing in Financial Consulting and Venture Capital investments.                                                                                                              DISCLAIMER: The information in every podcast episode “episode” is provided for general informational purposes only and may not reflect the current law in your jurisdiction. By listening to our episodes, you understand that no information contained in the episodes should be construed as legal and or financial advice from the individual author, hosts, or guests, nor is it intended to be a substitute for legal, financial, or tax counsel on any subject matter. No listener of the episodes should act or refrain from acting on the basis of any information included in, or accessible through, the episodes without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer, finance, tax and other licensed in the recipient's state, country or other appropriate licensing jurisdiction. No part of the show, its guests, host, content, or otherwise should be considered as a solicitation for investment in any way.Support the show

The Venue RX
Get Confident Building Wealth In 2023 | Danielle Hayden | The Venue RX

The Venue RX

Play Episode Listen Later Jan 16, 2023 40:32


On today's episode, our host Jonathan Aymin, sits down with Danielle Hayden, CEO of Kickstart Accounting, to discuss the metrics needed for a successful venue business in 2023! About Our Guest: Danielle Hayden is host of the Entrepreneur Money Stories podcast and CEO of Kickstart Accounting. As a reformed corporate CFO, she's on a mission to help rule-breaking entrepreneurs understand their numbers so they can gain the confidence needed to create sustainable profits. As a Chief Financial Officer for over 10 years, Danielle loved accounting but felt like something was missing while just helping investors and board of directors of large companies. That's when she realized her thrill for helping entrepreneurs, especially women, who were breaking the rules of business in order to create something amazing – something the rest of the world didn't expect them to do. Danielle left corporate accounting and formed Kickstart Accounting, Inc; an accounting firm designed to help female entrepreneurs understand their financials in order to grow their businesses and become more profitable. Since then she has realized entrepreneurs need more than just a bookkeeper; they need real financial analysis and education in order to get the confidence required to create the sustainable wealth they deserve. Find Her Here: Website: https://kickstartaccountinginc.com Book a call: https://kickstartaccountinginc.com/book-a-call/ Instagram: https://www.instagram.com/kickstartaccounting/ Facebook: https://www.facebook.com/kickstartaccountinginc/ LinkedIn: https://www.linkedin.com/company/kickstart-accounting-inc-/ Podcast: https://kickstartaccountinginc.com/entrepreneur-money-stories-podcast/ If you are a new or existing venue owner and want a professional team to operate and manage your venue business click here! https://www.cseventservices.com Thanks for checking out The Venue RX! Where we document and share best practices for owning & operating profitable world class venues! BE A GUEST! If you are interested in being a guest on our show, or you know someone who you would recommend, go to our website and submit a request! We will review your application and get back to you promptly. ► Website http://thevenuerx.com/submit Don't forget to smash that LIKE Button. Remember to SUBSCRIBE to my YouTube channel and click the BELL ICON to set alerts for all our new weekly videos! CONNECT WITH US & SUPPORT!!! ✩ Instagram https://www.instagram.com/thevenuerx/ ✩ Facebook https://www.facebook.com/thevenuerx ✩ Website: www.thevenuerx.com ✩ Anchor: https://bit.ly/3gKSshE LISTEN / SUBSCRIBE TO THE PODCAST ✩ Apple Podcasts: https://apple.co/3qW7ntS ✩ Spotify: https://spoti.fi/3gIz7h3Android: https://bit.ly/3njXOTE

AHLA's Speaking of Health Law
Top Ten 2023: Health Care Antitrust Enforcement Trends and Outlook

AHLA's Speaking of Health Law

Play Episode Listen Later Jan 13, 2023 30:23 Transcription Available


Based on AHLA's annual Health Law Connections article, this special series brings together thought leaders from across the health law field to discuss the top ten issues of 2023. In the second episode, David McMillan, Chief Financial Officer and Managing Principal of Consulting Services, PYA, speaks with Dionne Lomax, Managing Director of Antitrust and Trade Regulation, Affiliated Monitors, Inc., about the major health care antitrust enforcement trends to watch out for. They discuss the FTC's recent proposed rule banning employment non-competes, the DOJ's track record on criminal prosecutions, and merger enforcement developments. Sponsored by PYA.Watch the conversation here.To learn more about AHLA and the educational resources available to the health law community, visit americanhealthlaw.org.

Building the Premier Accounting Firm
The Crucial Steps to Take Before Buying a Business w/ Lee Bowen

Building the Premier Accounting Firm

Play Episode Listen Later Jan 11, 2023 77:10


Lee Bowen is the owner of Certus Accounting & Tax Services. Prior to starting his own company, Lee was the CFO of a $2 Billion international corporation and has over 20 years of financial operations, strategy development, and leadership experience. In this week's episode, Lee talks about taking the leap to buying a business after retiring, how he identified the business he wanted to acquire, and why he chose it. He also talks about how he determined what that business was worth, the process of transaction and how the transition process was for the former owner and employees. Lee also shares his advice for people purchasing a business. Your Host: Roger Knecht, president of Universal Accounting Center Guest Name: Lee Bowen Lee Bowen is currently the owner of Certus Accounting & Tax Services and has over 20 years of financial operations, strategy development, and leadership experience. Prior to acquiring Certus, he served for three years as the Chief Financial Officer for Young Living Essential Oils where he oversaw financial planning and analysis, fraud management, treasury, banking, internal audit, as well as commissions services, human resources, payroll, tax, and risk management for the organization.   His previous experience includes working at Intel Corporation, Deloitte Consulting, an expatriate assignment in Panama as Regional Director of Finance at HILTI, and Director of Financial Planning and Analysis for Nature's Sunshine. He is also fluent in Spanish. Lee earned an MBA and MSIM (Master of Science in Information Management) from Arizona State University and a BS in accounting with a minor in Spanish from Brigham Young University. Lee has been married to his wife, Tricia, for 24 years, and they have four children—three boys and one girl. He enjoys watching his children's sports competitions, running, playing golf, attending BYU athletic events and plays at the Hale Center Theater, where he serves on the Board. Sponsors: Universal Accounting Center Helping accounting professionals confidently and competently offer quality accounting services to get paid what they are worth.   Offers: *Train your staff to become professional bookkeepers; represents a person who is proficient in the day-to-day practical application of the accounting process in small to mid-sized businesses. QuickBooks, The Professional Bookkeeper's Guide to QuickBooks is designed to teach anybody how to use QuickBooks. *Learn CFO services Learn how to effectively price, market, sell business coaching services as a Profit & Growth Expert using BizBench to help your clients work ON their business.   *Universal Business Builder: UBB) program is unique within the accounting profession as it outlines the delivery of quality coaching services to business owners with an accounting emphasis.   BizBench, see what you can do to offer your clients benchmarking reports, allowing you to compare each to their industry norms based on their NAISC code using a report that provides actionable insights. Get a FREE copy of this book all accounting professionals should use to work on their business and become profitable.  This is a must-have addition to every accountant's library to provide quality CFO & Advisory services as a Profit & Growth Expert today: “Red to BLACK in 30 days – A small business accountant's guide to QUICK turnarounds” – the how-to-guide e-book for accounting professionals   For Additional FREE Resources for accounting professionals check out this collection HERE!   Be sure to join us for GrowCon, the LIVE event for accounting professionals to work ON their business. This is a conference you don't want to miss.   Remember this, Accounting Success IS Universal. Listen to our next episode and be sure to subscribe.   Also, let us know what you think of the podcast and please share any suggestions you may have.  We look forward to your input: Podcast Feedback   For more information on how you can apply these principles in your business please visit us at www.universalaccountingschool.com or call us at 8012653777

The Leadership Podcast
TLP341: The Interplay Between Finance, Data and Decision-Making

The Leadership Podcast

Play Episode Listen Later Jan 11, 2023 48:03


Jeremy Foster is the Chief Financial Officer of Austin-based Talroo.com, the data-driven job and hiring advertising platform that helps businesses reach the candidates they need to build their essential workforce. Jeremy shares insights into the key indicators of business valuation: 1) The necessity of leaders knowing the language of finance; and 2) The differences between startups, growth companies, and mature companies. He covers why alignment of the stakeholders is important for a company's successful scaling, and when to use blitzscaling, if at all. He explains analytics and shares examples from his past and present work, in an educational overview of the interplay between finance, data and decision-making.   https://bit.ly/TLP-341   Key Takeaways [2:14] Jeremy started in marketing and then ended up leading operations and retail banking for a 15-branch community bank in New Mexico and West Texas. His background was not in accounting or finance. That changes how Jeremy tends to approach the numbers. [2:41] Jeremy explains how he evaluates a business by looking at three numbers: the lifetime value of the customers, the customer acquisition cost, and the total addressable market. Marketing is a key component of each of those numbers. [4:36] Jeremy has worked with startups and scaling businesses. He's seen a broad spread of financial knowledge within company leadership. Sometimes an executive team has problems because of their different levels of understanding. Do you understand GAAP and income statements? What are revenue, gross profit, and EBITDA; the basic terminology. Some executive teams don't know these terms. [5:33] The next big question is which financial statement is the most important to look at, the cash flow or the P&L statement? It depends on whether you are a startup or an established company. There's a transition the executive team needs to make from a stage of perpetually raising capital to a stage of starting to generate capital and focus on unit economics, and understanding sound investments. [7:51] Super-mature businesses are balance-sheet-driven. These are companies like banks, oil, and gas, that have balance sheet sensitivities they need to pay attention to. [8:06] Get an executive team all on the same page with a basic background in finances and then focus that alignment in education first on whichever financial statement is the most important to the business, according to what stage your business is in. [9:27] There's an element of leadership that's getting people to follow you and there's an element of knowing what the right direction to go is. The math of business is useful in helping you figure out what the right direction is. [9:45] The first step in identifying the right direction can be self-study. Sometimes it's about understanding the terminology. Sometimes, it's about looking at your business and thinking about what's most important for your business. The easiest way to do that is to rely on the ability to identify a bottleneck. What's the most immediate limitation on the business? Is it sales, product, or capital? [10:58] The first thing is to recognize the most immediate pain point in your business. Decompose it. Understand what the most important numbers are in that pain point. You don't have to understand all the numbers in the business at once. You can learn over time. Start by figuring out what's most important. [11:59] Jeremy explains scaling and growth. A scaling business differs from a startup in that as the business gets bigger, it juggles an increasing number of variables. Part of becoming a scaling business is looking in advance. If you want 100 new customers how much staff do you need to onboard new and maintain existing customers? Look for limitations and plan to remove them before you hit them. [14:06] Past guest Margaret Heffernan identified planning for limitations as adaptability. Jeremy notes that the amount of flexibility you have is contingent upon your availability of capital. Blitzscaling has its drawbacks. If you hire too much staff, then when the capital is drained, you will have massive layoffs and you may lay off the wrong people if you don't know the metrics. That puts you in a death cycle. [15:44] Growth can be self-financed or it can come at the cost of additional capital. Blitzscaling is valid in winner-take-all markets. An example of this is Netflix. Their model is streaming video, so they had to grab as many customers as possible before others captured the market. They had to raise capital through growth and figure out how to make customers sticky. They enabled streaming through Xbox. [16:54] Often, blitzscaling is not the right approach, especially if you raise too much capital at too low of a valuation, which may hurt your investors. Prove profitability first and then raise capital at a higher multiple a little bit later. [18:56] Marketing analytics is used by companies like Facebook to choose what ad to show. Talroo uses analytics to identify the right job candidates for employers that are looking to hire essential workers. The analytics calculate the likelihoods that a job seeker will: apply for a job, be a good fit for the job, and be selected by the employer. With the right characteristics, you can start to reach the right people. [19:37] There's a space for analytics in most businesses. With analytics, you will gain a level of additional insight into what your team needs, what your customers need, and what your shareholders need. Understanding where those numbers that matter to you are is where analytics starts. Jeremy gives an example of how his former employer, Kasasa, used analytics and rewards to drive consumer behavior. [22:45] Analytics work best if you know what factors drive your business. It can also help you figure out specifics of what drives your business. Jeremy cites the problems with having too many dashboards or too few dashboards and the benefits of having an appropriate number of dashboards. Analytics will tell you where to go next if you pay attention, but you have to be thoughtful about what you're building. [26:28] When you talk about pricing, ask yourself if you are reaching the combination of the right targets that are willing and able to pay that price and if that is price sufficient for you to make money after you've acquired those customers. And are there enough of them to grow the business well? Jeremy shares some facts about the cost of acquiring customers, their lifetime value, and marketing cycles. [28:20] A business is considered investable or backable by private equity or venture capital if it is going to make three times as much as it cost to pick up that customer. … What sometimes VCs and PE groups don't pay attention to is how fast that cycles. Having multiple cycles in a year multiplies the profit. [29:14] More about pricing: Sometimes getting extra traction on the sales front isn't about charging less, sometimes you can deliver more value. Sometimes all you have to do is take risk away. Jeremy relates a Kasasa case study. When you de-risk a transaction, sales friction goes away. [33:16] As companies scale, they have to broaden their understanding of their stakeholders. What do the customers want? How do you deliver value? It is easier to work with private equity and venture capital if they've seen the metrics. To be a partner, they can't operate blindly; they need transparency. If you skip wage increases, consider the customer churn that will follow as employees leave. [35:53] Jeremy shares some aspects of conversations that were held at Kasasa, post-acquisition. They were discussing how to balance their white-label segment against their branded segment. They needed to understand the concerns of customers moving from one to the other as they navigated early conversations with the private equity group. [37:00] The PE group was focused on long-term growth. They were the right partners. It's important to have the right partners with the same objectives as the company leadership and previous owners who are investing. You want that alignment. If the idea is revenue growth at any cost, everybody better agree on that. If the alignment is to grow profitability x% year over year, everybody needs to be aligned. [39:01] Talroo sees a very high level of demand for essential workers. That's a strong vertical for Talroo. Jeremy doesn't foresee a full-fledged labor recession. There is softening in tech sectors in terms of need for workers, which Jeremy attributes to earlier overhiring of workers by a lot of large businesses. Most of the pressures in the labor economy are still present. There are a lot of people retiring or recently retired. [40:19] One of the biggest problems the U.S. faces over the next decade is a shortage of labor because we've been below our replacement rate. We don't have enough workers. It's important to retain your talent, or partner with Talroo to find new talent! One of the places where analytics gets overlooked a lot is in understanding who your best performers are. Which people is it most important that you retain? [41:41] It's still going to be important to lead well the people that you have. [42:34] Jeremy has been a key part of three major restructurings in the last 13 years. It's awful for everybody involved and it should be awful. If it's not awful, something's wrong with your culture. Restructuring should be a last resort. You can sometimes avoid them by staffing the right people in the right places. Sometimes you get it wrong. [43:45] Part of leading is looking at the metrics to know when to make those decisions. Part of leading is looking at people first when you're making those decisions so that you're making the right choices. Part of leading is knowing that your team members are vital, too. You have to do what you can to provide a soft landing for the people you have to lose. Provide as much transparency as you can upfront. [46:34] Jeremy's last message for listeners: “People look at numbers and people as exclusive and they're not. They should both provide you with insight into the other. So, when you talk about the hard side of leadership and the soft side of leadership, they're both sides. There's a lot to be said for figuring out how to use them to work together, to make you stronger on both sides of that equation.” [47:26] Closing quote: Remember, “Academic qualifications are important and so is financial education. They're both important and schools are forgetting one of them.” — Robert Kiyosaki   Quotable Quotes “When you think about what drives the value of a business, … it boils down to three things: What's the lifetime value of your customers? What's your customer acquisition cost? … and … What's the total addressable market? … [Pay attention to] those three numbers.”  “You want to figure out how you can build a business that's going to continue to grow without perpetual capital-raising and the perpetual dilution that comes along with it. Sometimes it can take some time for the executive team to make that transition.”  “If you raise too much capital at too low of a valuation, you might have hurt your investors. You might have to get really big to get the same return for your investors that you would have if you'd proven profitability and then raised at a much higher multiple a little bit later.”  “When you talk about pricing, … are you reaching … the right targets that are willing and able to pay that price, and is that price sufficient for you to make money after you've acquired those customers? … Are there enough of them to grow the business well?”  “A business is considered investable or backable by private equity or venture capital if you're going to make three times as much as it cost you to pick up that customer off of that business. … What sometimes VCs and PE groups don't pay attention to is how fast that cycles.”  “It is way easier to work with private equity and venture capital if they've seen the metrics. … For the most part, venture capitalists and private equity managers are there to make money for their investors but they want to do it in partnership.” “One of the biggest problems that the U.S. faces over the next decade is a shortage of labor because we've been below our replacement rate. We don't have enough workers. … It's really important to retain your talent.”  “You do have to balance the needs of the company against the needs of the employee. But if you can do that, then a lot of times, just operating with compassion, and some transparency and some honesty, can go a long way.”    Resources Mentioned Theleadershippodcast.com Sponsored by: Darley.com Rafti Advisors. LLC Self-Reliant Leadership. LLC Jeremy Foster Talroo.com E&Y Entrepreneur of the Year for the Southwest Margaret Heffernan Reid Hoffman Kasasa  

The Treasury Career Corner
Building a Rewarding Career Within One Company with Patrick McCartan

The Treasury Career Corner

Play Episode Listen Later Jan 10, 2023 41:42


The norm within many careers is to move around and switch jobs every few years, building your career as you go. But in this episode of the Treasury Career Corner, we hear about a different career approach. Joining this episode is Patrick McCartan, the Vice President and Corporate Treasurer at Caterpillar Inc. Patrick has moved around a lot in his career, having held roles in corporate treasury and dealer finance in the U.S., Mexico, and Luxembourg – but unlike most, this was all within the same company. Patrick originally joined Caterpillar Inc. as a Treasury Manager and worked in several different roles over a seven-year period. He then switched over to Caterpillar Financial Services Corporation, working up to become the Executive Vice President and Chief Financial Officer before making his move back to Caterpillar Inc to his role today. Patrick shares his unique perspective of building a rewarding career and networking within what sounds like a fantastic company to work for. Since 1925, Caterpillar Inc. has been helping customers build a better world – making sustainable progress possible and driving positive change on every continent. It's the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. They do business on every continent, operating through three primary segments – Construction Industries, Resource Industries, and Energy & Transportation. On the podcast we discussed… How Patrick first began his treasury career How technology has made treasury roles evolve over the years What Patrick learned moving between the U.S., Mexico, and Luxembourg Why everything is a team effort in treasury The importance of learning skills on the job Patrick's advice for those wanting to follow a similar career path You can connect with Patrick on LinkedIn. Are you interested in pursuing a career within Treasury? Whether you've recently graduated, or you want to search for new job opportunities to help develop your treasury career, The Treasury Recruitment Company can help you in your search for the perfect job. Find out more here. Or, send us your CV and let us help you in your next career move! If you're enjoying the show please rate and review us on whatever podcast app you listen to us on, for Apple Podcasts click here! If you're interested in learning more about the fundamental pillars of treasury, download my free Corporate Treasury eBook by clicking here!

The Modern CFO
Making Business Banking Frictionless with Jeremy Klaperman of Rho

The Modern CFO

Play Episode Listen Later Jan 10, 2023 40:22


Many small and medium-sized businesses in the country rely on a disparate range of financial services to help manage their accounts, expenses, and payments. Unfortunately, this system lends itself to time-consuming processes and inefficiencies that get in the way of growth.That's why Rho is integrating all the financial services businesses need into one easy platform. With Rho, finance teams can view everything in one spot, scrap inefficient processes, and focus on driving value and growth.In today's episode of The Modern CFO, host Andrew Seski talks with Rho CFO Jeremy Klaperman about how to 1) organize information systems, 2) build out an integrated data infrastructure from day one, and 3) embrace cultures of integrity from the CFO position. With decades of experience at elite financial organizations such as Goldman Sachs, D.E. Shaw, and Citadel, Jeremy expertly navigates his role as Chief Financial Officer.Show Links Check out Rho Follow Rho on LinkedIn Connect with Jeremy Klaperman on LinkedIn Check out Nth Round Connect with Andrew Seski on LinkedIn TranscriptPlease note that the transcript is AI-generated and may contain errors. The content in the podcast is not intended as investment advice, and is meant for informational and entertainment purposes only.[00:00:00] Andrew Seski: Hello, everyone. Welcome back to another episode of The Modern CFO Podcast. As always, I'm your host, Andrew Seski. Today, I'm thrilled to be joined by Jeremy Klaperman, CFO of Rho. Jeremy, thank you so much for joining me today. I'm excited to talk. [00:00:23] Jeremy Klaperman: Thanks so much for having me. Really excited to be here. [00:00:26] Andrew Seski: So, Jeremy, you've spent most of your career across some of the most storied investment firms, from Goldman to D. E. Shaw to Citadel. But this is your first foray into the CFO role. I'd love to hear a little bit about what it's been like over the last six months crossing this chasm. [00:00:45] Jeremy Klaperman: It's been great. It's something that I've been looking forward to doing and planning for a while. And I think of my 20 years in investment banking and investment management as training for this because I either advised or invested in companies from all regions, from all industries, many different market cycles, whether it's the original tech bubble burst of the early 2000s to the global financial crisis to COVID. And I've had so many reps speaking with CFOs and CEOs. I've built up a great playbook of what I think best practices are and also pitfalls to avoid from everything from high level strategy to accounting to operations. And what I try to do with that is bring that to bear in my current role. And so, I view the last 20 years as kind of giving me the best practices and building up to what I'm doing now.[00:01:40] Andrew Seski: So, can you tell us what Rho is and what the future of frictionless finance means to you? [00:01:47] Jeremy Klaperman: Absolutely. So, Rho provides a wide range of financial services as well as spend management software to small and medium businesses. And a lot of our clients, almost all the small and medium businesses in the country have a disparate range of providers currently that give them all these things. They might have a bank, a credit card company, an investment firm that helps them manage their treasury and their cash. They might even have a FX transfer provider if they do a lot of international business. So, they could have two, three, or four providers of financial services. Increasingly, companies are using software on the spend management side for things like tracking expenses or automating bill pay and accounts payable. So, they could have one, two, three providers on the software side. They have all these disparate systems that don't work well, don't talk to each other, and it creates a lot of manual processes, errors, inefficiency. And the finance teams end up spending a huge amount of time just trying to do basic tasks rather than controlling their finances well, gaining strategic insights, running the business. So, what we do is we take out the entire stack on the financial side and the software side with one integrated all-in-one solution that's very easy to use and the entire finance team can centrally control and command the finances. [00:03:10] Andrew Seski: So, was this something that was important to you prior to joining? Were these inefficiencies something that you were able to identify, you know, on the other side of the table as an investor as well?[00:03:20] Jeremy Klaperman: Well, you can often identify the output or the symptoms of these, which is you're speaking to a CFO or CEO, you ask them what a key question is on the business, and they don't clearly have at their fingertips what you would think would be an important insight or just an important piece of knowledge. And that often comes from the data and the systems in the company not being well configured. So, having your key financial services and software services all-in-one integrated solution is one step, but not the only step you need to provide your management with the right information to run the business well.[00:03:57] Andrew Seski: So, I wanna talk a little bit about, you know, using some of these tools yourself as a CFO for the first time now and sort of what that foray looks like. I am so lucky to have a really, really unique subset and cohort of guests on the show. Some come from banking. Some come from, you know, Big Four and audit. Some, you know, were in the Navy or the military. And it's really interesting to see, you know, kind of a career progression that lands somebody in this financial leadership role. And would love to discuss, you know, you said your entire career was basically training for this opportunity. Did you always see it that way? Or is this new role something that you took a long time to consider, kinda a different risk profile and really different environment? Or has it been kind of a natural progression of your career? [00:04:46] Jeremy Klaperman: Over the last decade, I've become more and more interested in it. At least for me, when I graduated from school, I didn't know exactly what I wanted to be. I knew the kind of skills I wanted to learn and what I enjoyed doing, so I went down this path. And I think it's, after working with companies for so long, what I wanna do was not be an outsider or an advisor or an investor for a portfolio, but really get in on the inside; have a portfolio of one company where I'm on the team that's driving the growth, creating the value. So, it was really a natural evolution over the last 10 years where I determined that this is what I want to do.[00:05:20] Andrew Seski: I'm curious to know if you have kind of a definition of what you'd consider a modern CFO. I think everyone is really interested in general in some of the firms that you've worked at. I mean, they're, you know, the household names of Citadel or Goldman. It must be really interesting to have some of those unique experiences and learning from some of the brightest, you know, financial minds, you know, on the planet. So, kinda curious to see if you've got anything — you mentioned being able to put together a playbook of pitfalls to avoid or, you know, things that are more aspirational as maybe some leadership skills. But, yeah. Curious if you've got a definition of a modern CFO and maybe some of those unique lessons that you've learned over the years.[00:05:57] Jeremy Klaperman: Absolutely. Well, first I do feel very fortunate for having been able to work at these places and learn from all the brilliant people there. And in addition, I had another component of learning, which is being able to speak with the CEOs and CFOs of many successful companies and learning how they think about all the things that a CFO would. So, when I think of the modern CFO, I think of using data and analysis holistically to make better decisions, data-driven decisions, that will improve outcomes for the business. The CFO that you think of as the classic CFO in the sixties or seventies just reported the numbers. They had an accounting system. They told you at the end of the month or the quarter what happened. But the modern CFO tells you not only what's going to happen, which is a capability focused on really with the rise of FP&A in the last 20 years, but what we want to happen and how we're going to make it happen. Or at least they have a voice in that discussion. And I view the CFO as a curator of not just financial information but operating information — all data in an integrated way — providing it to all the leaders of the business and having conversations with everyone on what is this data telling us. What are we doing well that we could do more of? What are we doing badly that we need to do better? And if you're, you know, the greatest companies in my experience are ones that are always reviewing the data, monitoring and analyzing everything, and then using it to make better decisions and drive better outcomes. That's something that I've observed in all the companies I've had the good fortune of interacting with. But also really, really seeing that at work well at the firms that I've worked at. Goldman Sachs, the Citadel are excellent at monitoring, measuring, analyzing, and using the data to drive outcomes. [00:07:51] Andrew Seski: That's excellent. That's really helpful. I'm curious as to — I get really different responses on some of the many hats that CFOs are wearing these days, whether it's, you know, a unique function in HR trying to acquire the right talent in this kind of unique market environment where there's a lot of churn or if it's how difficult fundraising can be. I'm kind of curious in your first six months here. Have there been any surprises of hats that you've maybe you've put on for the very first time, like I mentioned, you know, finding talent and maybe actively raising and doing all of these kind of, you know, disparate tasks or maybe even just managing a relationship with, you know, your board and your CEO? Have there been any major surprises or anything that you are happy to continue to kind of nurture the skillset of for the first time? [00:08:37] Jeremy Klaperman: I'd say no major surprises, but you've hit on one of the characteristics of the CFO job that appeals to me, which is that it's a multidisciplinary role. That's why you have people coming into it from all those different backgrounds you mentioned before that are successful. And it also varies greatly depending on what company you're at. It's very heterogeneous. The CFO of one company could be completely different than another. And so, I think the ability to wear all these hats without them all falling off your head is key to being a good CFO. And I'm fortunate here because I have a broad-based role. So, not only accounting and FP&A, but also providing data overall; getting involved in discussions with our investors and capital partners in all aspects of the business. And it's just been a great experience. So, when I think of all the CFO roles that are out there in the market, I feel fortunate to have this one at this company.[00:09:36] Andrew Seski: Very cool. I wanna dive into some of the things that are happening right now to kind of, you know, timestamp this podcast into history. I think we've kind of shifted over, and correct me if you've got a different vantage point, but at least in the venture-backed world just recently kind of gone from growth at all costs to, you know, maybe being a little bit more conservative in runway and maybe thinking with maybe a bit more long term of a view. And I'm curious as to what you're thinking about in 2023 in terms of strategic growth and how you're thinking about investing Rho's assets and kind of how you're thinking about scaling just in kind of a unique market environment where it feels, you know, somewhat volatile and maybe has, you know, some rising interest rates. But just given your probably ability over your decades of investing, just having a really good understanding of what growth looks like in consideration of a lot of macro-economic and global and geopolitical instability as well. [00:10:34] Jeremy Klaperman: All good questions. We are fortunate here in that our product, the demand for it is relatively acyclical. So, a product that helps you save money, boost income, better control your finances, is in demand as much during bad times, if not more than good times. I think actually what we're seeing is that people like our product equally, whether in good times or bad times. So, the demand function is somewhat acyclical. So, our growth engine, therefore, is much more within our control as opposed to a kind of demand-taker based on the current market environment. And in fact, our growth has been accelerating. So, we are looking forward to the coming year. And just like everyone in the market, we are balancing growth with burn and capital availability. And I think what I've seen successful companies do and successful investors do is be aware of cycles. At different points in time, growth at all costs and infinite burn will be acceptable. And then at other times, the pendulum will swing to the other side. And so, from a planning perspective, what we try to do is consider paths that we can adjust and will be effective in all environments. And more generally, when we're considering things, don't only focus on a discrete outcome. Rather, consider a range of outcomes. Consider in advance what would happen if this external factor moved or this market-based factor moved or demand was different, etc. And then come up with a plan in advance. So, we'll never be surprised. We should never just focus on one particular outcome and have one particular set of assumptions and then be shocked when the world changes. I think that's another thing from my background that's helped a lot. I've seen, you know, massive swings in just the space of a year between, you know, a company with tens of billions of dollars and one going bankrupt when, you know, when the Minsky moment occurs. So, just keeping in mind that things can change drastically and being able to have plan or plans for all different weather environments is something important to us. [00:12:39] Andrew Seski: Yeah. It sounds like you've got a really healthy consideration for market cycles. I think that's really important as you're, you know, we're all at the end of the year here, and we're all planning and in planning mode, so I think it's a healthy thing to have in the back of all of our minds. One of the themes I want to touch on is communication and transparency in your — I think there's kind of this stereotype of CFOs who get to, you know, hide behind Excel. And, you know, we're on a podcast right now and the role of a CFO has to be, you know, the financial leader in the kind of the face of the finance team. And I'm kind of curious as to, you know, the — and we could probably tie it into how Rho probably creates some more transparency around, you know, consolidated data, too, which is probably helpful for communicating with investors in general. But really curious to hear how you think about communication in your role and, you know, what the goal is of transparency with the rest of the team to communicate the decisions and those strategies and that breadth of, you know, potential outcomes.[00:13:36] Jeremy Klaperman: Those are great points. I think that we can observe in many successful companies the characteristics of integrity, excellence, transparency, both in terms of internal communications as well as external with investors. And those, not surprisingly, are highly correlated to and always go hand-in-hand with excellent operational and financial performance, almost always. You can have — what we also sometimes observe is a company that doesn't have those things but is in the right place at the right time and it's really hot and it catches a wave, but then when the tide goes out, if you don't have those core principles and modes of operation, then everything falls apart. We can always, we kind of see those scattered across the corporate graveyard. [00:14:23] One reason I like this company is the founders and the company, more generally, really operate with those principles of excellence, integrity, and transparency. So, the company in my mind was really in the top decile for its size, scale, and age in terms of those characteristics and other characteristics. And I could come in and build on that rather than cleaning up a mess, to use the colloquial terms that some of my counterparts use in other situations. So, I really love that aspect. And what the founders talk about here, they actually lay out specific qualities, characteristics that they want people's behavior and interaction to have. And they use it in all different ways. So, when you're giving feedback to someone, like, great job on this project, people often list like, hey, you embodied characteristic a, b, and c from our principles. I always loved the principled approach and focus the team on integrity, excellence, best practices, but they had a better implementation of it here. They had a way of kind of getting it out and having everyone do it day in and day out if in your communications, if you're doing a large task or a small task and it's been great internally. Externally, what we do is try to overcommunicate with very clear disclosure. And again, just in the last 20 years, I so often see companies that have excellent disclosure often have excellent performance 'cause it's kind of like a sign of their internal logic or thinking. If you can explain something really clearly, it means you've thought it through. You understand it well. And that's the analogy I see in companies' corporate disclosure. So, what we — we have great investors, we're thrilled to have them and an excellent relationship with them. And part of that is getting all this data in front of them regularly in an efficient way very transparently and that I think is, again, a key aspect of the function.[00:16:18] Andrew Seski: Yeah, I completely understand. I think that overcommunicating and being really concise with those communications, it not only creates a better bond of trust, but also can, you know, maybe even create more patient capital if there are CFOs listening about, you know, concerned a little bit about burn. I think overcommunicating creates a little bit more patience just because you don't have to pick up the phone and call a CFO wondering, you know, where financials are or what's the latest at the firm. So, I think that's a really, really good point and probably increasingly important as, you know, if the markets were to start to melt down a bit as everyone thinks about their valuations and fundraising in a tricky environment. [00:16:57] I did want to kind of cover an idea around some of the positive externalities it sounds like Rho can provide as well. So, I'm thinking about, we're talking about transparency and communication. When you have all these disparate systems, it must be pretty difficult to be accurate in reporting in some of these data and all the spend management if it's across all these different systems. It could probably be a pretty onerous task to be able to communicate what's going on. Are there other positive externalities that maybe aren't as clear that you've seen that companies have been, you know, some of your clients are working with have kind of realized?[00:17:33] Jeremy Klaperman: I think one of the benefits is, as you say, if you have a simple all-in-one platform that allows you to view everything in one spot, you then obviously will have a better understanding of the information and can further communicate it or using it for your own analysis. But the other thing we provide is the ability to automate your workflows and remove all these manual processes, which require a lot of time or inefficiency or create a lot of error, and have a very efficient, high-quality process. So, whatever you were doing before, whether it's, you know, collecting employee receipts or paying your bills or monitoring credit card usage, you can cut the amount of time you're spending on that depending on what you're doing by, you know, 90%. And that is a huge gain because then you can use that time instead of, you know, running around chasing receipts and opening up, you know, four different websites from different companies to try to figure out what's going on to drive value in the business. What, where are we off budget? Where are we ahead of budget? What adjustments should we make? That's where we want the team spending the time. You don't want them emailing people to ask for, you know, receipts from lunch two weeks ago.[00:18:36] Andrew Seski: Right. And then you're kind of hitting on the point of how you define a modern CFO who can, you know, be more strategic, be more forward-looking than backwards-reporting. It seems like a lot of this is a, part of this role is being, you know, slowly automated. And if you can put all of that into the same platform, you can focus on where you can actually have the most amount of leverage and, you know, impact. [00:18:58] Jeremy Klaperman: You're right. You know, if I was going into a new company, the first thing I wanna do is organize the information systems. Make them all consistent and easily accessible in an automated self-serve manner. That means whoever should get some piece of information can get it by themselves when they want at any time in some simple manner. I pull it up on your, you know, business intelligence tool or whatever website is relevant. So, our software and our platform in terms of financial services and spend management would be the first thing I would do. That's a very easy decision to make. How you build out a data warehouse and data infrastructure outside of that is very, is an art just as much of a science and is very company-specific. And that is a whole undertaking. But just getting your stack of financial and spend management software providers, you know, taking out eight providers, putting in one, that's an easy thing to do off the bat. [00:19:51] Andrew Seski: So, I wanna segue a little bit. I feel like I don't normally have the opportunity to ask 'cause I've only had a handful of first-time CFOs on the show. But maybe for some of the, you know, people thinking about, you know, aspiring into the role, how did you actually go and meet the founders? I mean, for somebody who's evaluated probably tens of thousands of companies over decades, you know, what was the thing that was really exciting and how did you get in touch with the founders for the first time? I feel like that piece of the story is always really interesting and maybe a little bit nerve-racking for people considering it for the first time.[00:20:24] Jeremy Klaperman: Absolutely. So, what I tried to do was just run a very thorough, systematic process where I reached out to all my contacts, you know, former colleagues, friends from school, people I had met in business and learned about potential opportunities. And I wanted to spend more time rather than less and meet many more companies rather than fewer. So, literally had hundreds of conversations with many different companies. Often, I would know personally some of the people involved — maybe a founder, maybe someone who works there. And that's important to me because I don't only wanna work at a place with a successful business, but also a place with the right culture and personalities and character, which gets back to the principles we had talked about before. So, I feel like I'm very lucky because in the case of Rho, I had known one of the founders for 15 years from the financial industry and I knew that he was a very high-integrity standup person. And as I learned more and more about the company, I saw that he, you know, it often comes from the top-down. So, I saw that the way he thinks about things is the way that he infused the culture here and that's how it's working. So, I feel like if like you consider the two-by-two matrix of successful business and great culture, I feel I got very lucky 'cause we are in the top-right quadrant for both of those. And it's very fortunate. [00:21:47] Andrew Seski: Yeah, I really appreciate that. That's awesome. I feel like those who are trying to consider making the leap, you know, maybe they don't have the right school ties or think that their background may not be relevant. But it sounds like your kind of systematic approach to talking to as many people as possible was really, really valuable and you landed kind of exactly where you wanted to, which is a great story.[00:22:08] Jeremy Klaperman: The one advice I give people is some people have an approach of reviewing some number of opportunities and if they don't work out, then get some more in the hopper. But that won't lead you to necessarily find the best one in the whole universe of opportunities. You wanna get everything in there possible and consider it all for a long period of time and then you'll be able to find the best one if you just have like the all-in parallel. If you do like an incremental or serial approach, you might take one of the first 10 you get, but you'll never get till, you know, 120 on the list, which might be awesome, so. [00:22:43] Andrew Seski: That's really good advice. That's a really practical way to think about it, too. I'm curious if there's anything — I really like kind of breaking up some of these episodes with talking about big ideas of things that you may feel underestimated in the world or, you know, we're in a really interesting medium, too. I think podcasting is pretty fun for, you know, having long-form conversations. So, always curious to know what CFOs are reading, what they're listening to. I still am a classic Wall Street Journal person and love my podcast and all of that. But always interesting to know what kind of information and what resources are out there that CFOs are reading and listening to and kind of what, you know, what's informing their opinion in what's kind of underestimated in the world today.[00:23:24] Jeremy Klaperman: The thing I think about most is the role of increasing sophistication of automation. Artificial intelligence is one example of that, probably on the more sophisticated end. But just the increasing sophistication of automation is it can be applied to our everyday tasks or what we're focused on as CFOs. So, one very tangible trend or theme in this area is 10 years ago, everyone's model for forecast in the business was in Excel for small and medium businesses. And increasingly, there's purpose-built software that will do that for you and automates a lot of tasks. So, when you do your monthly close, instead of you or the FP&A person typing in all the numbers for the most recent month of the Excel model, there are tools that will populate that all and do all the monthly updates for you and tools that will configure your or speak to your payroll provider, your HR software, your recruiting software. So, everything's completely integrated, which is really just something that's happened in the last few years. And that's not even the cutting edge of it. That's really just gluing together some existing technologies that aren't very sophisticated to make your life easier. And then you have things like GPT-3 for which the implications I think are still quite unknown, but you can just see how applying that to certain areas of your business could have tremendous impact. And so, in some ways, the finance I think the finance field has not fully embraced or remotely embraced a lot of the technological advances that we are seeing in other areas. It's still quite backwards in many ways. [00:25:01] Andrew Seski: That's right. I always laugh at the idea of the image of Atlas holding up the world. And I always think of Excel holding up the world of the finance in that way, which, you know, CFOs tend to love their spreadsheets, so completely understand. But it's pretty exciting. I think we're at a really important crux of technology. It seems like Rho is sitting right at that intersection, which is really exciting.[00:25:23] Jeremy Klaperman: Yeah, I mean, Excel has a lot of positive qualities. We love it. There will always be a place for it. But there's so many additional capabilities you can add on or supplement with that. [00:25:33] Andrew Seski: Totally. I'm curious, as a CFO I think a lot of the finance team looks to you for direction. I'm curious at some of the characteristics — sounds like the founders have really strong core values. As you are getting situated, do you still talk to mentors from previous firms or who do you look to when you're looking for advice and, you know, some of the maybe just maybe other CFOs or other mentors from the past to kind of guide through some of these transitions? Because it's obviously you're very well qualified for your role today, but it's definitely a transition still, right? So. [00:26:11] Jeremy Klaperman: I think that the CFO role and all my roles are always a progression where there's always more you can be doing; more you can be learning. So, every morning when I wake up, I think, what don't I know? I'm always thinking about what I don't know, what I'm doing badly, how can I learn, how can I try to improve it. I'm always more worried about what I could fall behind on or not do well. And so, what I do to consider that more in addition to just assessing it myself is I ask the same question: What makes an excellent CFO? Tell me some of the characteristics that you've seen in the CFOs you've dealt with that make an excellent CFO. And I've asked this of all the CEOs and CFOs I've met with for many years now. And if I meet someone from a venture capital firm or private equity firm, I ask them that. If I meet so another CFO or a controller or an FP&A person, I ask them that. And I just love polling people on that because you're getting all these feedback from all these different sources, all of which have a good view on what makes a great CFO. And so, I don't just have a few mentors or people that I have a personal relationship that I rely on. I always like to be asking everyone. And one thing I do internally is I shoot a message out every three months, not only to my own team, but to the rest of the company, saying, "What can I do a better job on? What can the finance team do a better job on?" Maybe it has nothing to do with me. What can the team do a better job on? And I just love always getting people's feedback and taking all the little pieces of it to build a mosaic that you can extract some insights from. [00:27:44] Andrew Seski: Yeah. It's funny that level of humility and openness to take feedback and have all that other opinion. It's funny, it probably has rocket-shift your learning and being able to fill in all of that blank space that would be just the unknown. So, that's a really interesting approach. I think it probably also kind of drives some really healthy culture internally because people know that you are accessible. And I don't know that that's always the case with the C-suite, especially as the firm gets bigger. [00:28:13] Jeremy Klaperman: It's funny you say that 'cause one, you know, like I have a diary where I write down what everyone told me, which sounds kind of silly, but, you know, you'll remember it at the time, but you might not remember something someone said to you eight years ago. So, it's funny to just go back over time and read all the advice. So, one piece of advice on that topic that I received was be very approachable. You want people to come to you. You don't want to be rude to them or reject the idea. So, I'm always concerned, not concerned, but I always want everyone to be able to come to me with whatever their ideas are. And if I say an idea and it's bad, I want everyone to reject it and tell me, "No, we should do it. We should do it that way instead." Again, I've observed that the best companies not the culture of some person who's, you know, been there for a while or has some title says something and then everyone, you know, hustles to do it. But rather, someone comes up with an idea and other people say, "Well, that's okay, but let's add on this" or, "No, that's not good. Let's do it that way." So, it's super important to me that everyone in the organization overrules me, counterargues with me, or just more generally always gives their opinion and and shares their ideas. And that way the best will bubble to the top.[00:29:23] Andrew Seski: And that's something that the world of finance takes super seriously as well. I know that Bridgewater, and I think maybe Citadel probably does too, the way that you evaluate decisions and communicate with your team is all highly measured. Is that where some of that stems from or just kind of really consistent across what you've viewed from successful companies?[00:29:43] Jeremy Klaperman: I've observed that at successful companies. And certainly, it's part of those firms that you mentioned. You know, Bridgewater is known for the radical transparency movement. But I think more generally when you're an investor, your hit rate isn't 100%. You have a lot of failures and flops. And maybe as a CFO you can do a great job on some high percentage of whatever you're working on. But as an investor, you'll have huge failures and flops. So, I've always found the best people study the flops more than the success. You would rather review with your team at the end of the year everything that went wrong than everything that went right. So, being an investor is a humbling profession because you're always surrounded by things that could have been done better, more so than other professions. What I've tried to do is always learn from all the mistakes. And if you asked me five years ago "What things do you look for in an investment?" or "What things make a great company?" or any important question, my response would've been influence or would've been the aggregate of all the observations I made over the previous 10 years. So, 15 years ago I thought this was a great idea or this was a great company or that was a good analysis. Then at some point, it went wrong. It wasn't perfect. Maybe it wasn't a financial crisis. Maybe it was, could be for any number of factors. So, by just the way you improve any complex system, you observe when it is making an error or something's going wrong, and then you tweak it, you add it, you augment it. My approach always tries to be the aggregation over time of all the feedback, correcting mistakes, improving what's good. I think that's quite prevalent in the investing area, maybe more so than in general corporate America, but the best companies often have that.[00:31:29] Andrew Seski: Yeah, absolutely. That's a really interesting point. I appreciate that perspective a lot. I wanna spend a minute kind of zooming out and thinking about, well, we're very end of the year here. Well, for me, a couple weeks of selling left here at Nth, but really curious as to what you're looking forward to in 2023. What's really exciting? Maybe even, you know, just in the next 12 months, what's top of mind right now?[00:31:51] Jeremy Klaperman: I think the thing we're most passionate at Rho is helping our clients better control and command their finances. So, we have a ton of cool features we rolled out in the last few months. We have a ton more shipping in the coming months. And I'm just excited to hear the feedback of everyone implementing these. I think the favorite thing of people here is when we get a quote from the client, like, oh, you know, we cut down our monthly close by a week or, oh, we, you know, we saved 40 hours because of this or, oh, we finally know how to control this spend for this reason. We love that and we're just trying to do it more and more with all the new things we're shipping. And so, I'm looking forward to hearing the output from that. [00:32:29] Andrew Seski: Yeah, that's always really, client feedback is so much fun, so valuable. Yeah, it's gonna be an exciting year for Rho, I'm sure. So, is the team starting to take form? So, how many employees are there now?[00:32:40] Jeremy Klaperman: We have about 215. [00:32:42] Andrew Seski: Wow. Okay. That's awesome. And the company's only been around for — [00:32:46] Jeremy Klaperman: Five years. [00:32:47] Andrew Seski: Five years. Got it. And is this space is fairly competitive, right? I'm kind of curious as to what are some of the defining, are you tackling a certain subset of the market that's still being underserved? Or how do you think about competition in the next year?[00:33:06] Jeremy Klaperman: Well, from our perspective, we provide a very wide range of both financial services and spend management software. So, while we have competitors for any particular feature or product — you know, for example, a well-known credit card company would be a competitor for our credit card; well-known expense management software company would be a competitor for that component of our software — there's no competitor we think that provides the entire range of everything like we do. There are certainly companies that do one or two financial products and maybe a software product, maybe do a software and one financial product. There's different combos here and there, but we think that we really provide the whole spectrum of what the overwhelming majority of small and medium businesses need. The other thing is we're purpose-built for the small and medium businesses in this country. Some companies target enterprise, S&P 500, you know, super large companies or multinational companies. We are really designed for those small and medium businesses, of which there are a few hundred thousand that are the core of business in our country. So, we have this huge market that we think we provide the comprehensive solution for. [00:34:17] Andrew Seski: Got it. That's really helpful. That provides a lot of color for, I think, how people can think about where Rho sits. That's awesome. I really appreciate that. I think we should probably spend just a minute. I'm kind of curious still on in your decades of investing and you've traveled extensively and we're just talking about, you know, purpose-built for US small and medium-sized businesses. I'm kinda curious just to hear a little bit about your background just in travel and experiencing, you know, whether or not Rho's gonna go into more merging or global markets. The world of frictionless payments I think is going to increasingly become more global and it might be fun to hear about, you know, early days of traveling to Asia or anything that you'd like to share. [00:34:59] Jeremy Klaperman: Sure. Well, from my background, I was really fortunate to not only get jobs at great companies, but also work in interesting areas. And when I was growing up, when I was in middle school and high school, I always wanted to not just live around the world, but work around the world. So, not be a traveler, but work in business in the different regions. So, I spent about half of my time, about 10 years, living in Asia and/or Europe. And I've been fortunate enough to work or live in many of those different countries and have companies or clients in many of those different countries. So, all the major companies of Asia and Europe. And it's been, again, great for my education because I saw what the best companies in Asia do, what the best companies in Europe do, etc. For Rho, we feel our market is so big focusing solely on these hundreds of thousands of US small and medium businesses, we don't have any overseas aspirations at the moment. We just feel like it's, we're at the tip of the iceberg for our home, our core market. We have such a small amount of share. It's unlikely that we would look overseas, at least in the near term.[00:36:04] Andrew Seski: Got it. Yeah, it's just really fun to hear that there's so much opportunity because it just means that the American dream and entrepreneurial spirit is still very much alive if there's, you know, that huge addressable market here. So, I'm sure that's gonna be fun for some of the feedback that you're gonna hear just in being supportive of entrepreneurs. So, you get to do that by coming in, you know, serving as a CFO, but also actually supporting these small businesses where, you know, maybe these tools would be more institutional grade and maybe less accessible., But now just having the kind of ease of spread of the technology, it's gonna be really valuable and hopefully, you know, continues to support, you know, the backbone of the country.[00:36:41] Jeremy Klaperman: We hope and look forward to that. So, that's a great way of saying it. And, you know, if you think about, five years ago, if you had laid out this plan to build what they've built here, which I'm kind of the beneficiary of having joined this year, it would be a very ambitious plan to build almost all the financial services that a middle-market company uses, almost all of the spend management software in one offering. There are many companies that built just one of those pillars that took several years and they've built the whole thing in five years. And just getting that right in the US was an ambitious and impressive undertaking. Adding additional countries or expanding is a whole another level of complexity. So, we really wanna take this platform that they've built over the last five years, which is really right for the US, and maximize its full potential here. [00:37:28] Andrew Seski: So, I guess the last question I have on Rho probably just the onus to get it started. What was the founders' kind of dream when they first got this idea and went out and raised capital for it?[00:37:42] Jeremy Klaperman: I don't wanna speak for them, but I think their thought was there's, they looked at areas where technology still hasn't had its impact or there was still a lot of disruption to be had or efficiencies to be gained; places where there's still a lot of friction or pain points but also had a huge market. And having reviewed all, you know, the intersection, if you think about the Venn diagram of these two things, they came up with middle-market finances, financial services, and financial management. That was a huge area that, as we've discussed before, was really behind, really backwards. Logging onto different websites, chasing pieces of paper around, you know, sending checks to the mail all day. Same thing. Other than the use of websites from your bank, you know, nothing's changed in decades. So, they thought, here's an area where we can use technology to make significant improvements, reduce all the pain points for the customer. But there's hundreds of thousands of customers. And that is generally a great thing to look at for FinTech companies. It's something that not only has a great market, but also has a great value proposition for the customer and then also has great unit economics or really makes sense for the people who are providing that service as us.[00:38:54] Andrew Seski: Yeah, I love that. 'Cause there's, it's also probably relatively easy to measure the impact of time saved and money saved, and I think that's really, really valuable. Since we talked about accessibility and being able to be able to contact you, is there any way for people to reach out maybe via LinkedIn or how should people go and learn more about Rho themselves or if it's a good fit for them? [00:39:18] Jeremy Klaperman: Absolutely. Well, they should follow Rho on all social platforms. LinkedIn, we're very active. And they're welcome to reach out to the Rho page on LinkedIn and/or me as well. Would love to have them follow us. [00:39:31] Andrew Seski: Awesome. Well, Jeremy, I have loved speaking today. I'm excited to circle back soon because I know Rho's gonna continue to expand and really appreciate all of your time today.[00:39:40] Jeremy Klaperman: We really appreciate you having us on it. On behalf of everyone from the company, we were super excited when we found out I was invited to join and I'm here on behalf of everyone at the company who's made this dream happen. So, thank you to all them and thank you to you for having us today. We really appreciate it.[00:39:54] Andrew Seski: Excellent. This has been another episode of The Modern CFO Podcast with Jeremy Klaperman. Thanks again.

Mays MasterCast
Not Afraid To Fail with Jerry Strawser, Associate Dean for Graduate Programs

Mays MasterCast

Play Episode Listen Later Jan 9, 2023 27:54


Description:  Serving as Dean of Mays Business School, Interim Provost, Executive VP, and CFO at Texas A&M, Jerry Strawser is no stranger when it comes to the ins and outs of this university. He has served on the academic and administrative sides, and deep dives into his countless responsibilities he has had the opportunity to obtain. Whether that be allocating money or even making high stake decisions for the students and faculty, Strawser handles his positions with efficiency and pride. He has always been keen on the Master's program at Mays Business School, and explains what key factors pull students into College Station. Strawser's passion for this university and student body cannot be contained, as he discusses what makes Texas A&M such a special school to be a part of. Bio:  Jerry Strawser received his BBA, MS, and Ph.D. from Texas A&M University, and has served at Texas A&M University since 2001, holding positions of Dean of Mays Business School, Interim Provost and Executive Vice President, Executive Vice President and Chief Financial Officer, and currently KPMG Chair of Accounting and Associate Dean for Graduate Programs. Prior to Texas A&M, served on faculty at University of Houston, Louisiana State University, and had professional experience with Deloitte and Arthur Andersen. 

Making Billions: The Private Equity Podcast for Startup Founders and Venture Capital Investors
Ryan Miller - Why I Walked Away From a $200M Venture Capital Deal

Making Billions: The Private Equity Podcast for Startup Founders and Venture Capital Investors

Play Episode Listen Later Jan 9, 2023 10:41 Transcription Available


In this weeks episode, I talk about the reasons why I walked away from a $200M deal with killer terms.  So the question is: What happened that convinced me that no amount of money was worth it?  All this and more, coming right up! LIMITED TIME OFFER: SUBSCRIBE FOR FREE TO GET OUR ECONOMIC RESEARCH REPORTS:https://mailchi.mp/d41cfc90bd9f/subscribe-to-newsletterLearn to Launch your own Fundhttps://www.fundlaunchlive.com/2022?affiliate_id=3730376Subscribe to YouTube:https://www.youtube.com/channel/UCTOe79EXLDsROQ0z3YLnu1QConnect with Ryan Miller:Linkedin: https://www.linkedin.com/in/rcmiller1/Instagram: https://www.instagram.com/makingbillionspodcast/Twitter: https://twitter.com/_MakingBillonsWebsite: pentiumcapitalpartners.com[THE HOST]: Ryan is a Venture Capital & Angel investor in technology and energy. He achieved placement growth of 5200% ROI in his first 5 years in the industry. His Podcast, “Making Billions”, was recently ranked in the top 20 Venture Capital Podcasts on the Planet! Previously he served as a Chief Financial Officer for a National, award-winning InsurTech company, which he grew 50% year-over-year. Managed and mentored 250 professionals while serving in this role. Additionally, he has mentored over 500 emerging fund managers to start and scale their investment funds, totaling nearly $1B in funds raised to date.                                                                                                             DISCLAIMER: The information in every podcast episode “episode” is provided for general informational purposes only and may not reflect the current law in your jurisdiction. By listening to our episodes, you understand that no information contained in the episodes should be construed as legal and or financial advice from the individual author, hosts, or guests, nor is it intended to be a substitute for legal, financial, or tax counsel on any subject matter. No listener of the episodes should act or refrain from acting on the basis of any information included in, or accessible through, the episodes without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer, finance, tax and other licensed in the recipient's state, country or other appropriate licensing jurisdiction. No part of the show, its guests, host, content, or otherwise should be considered as a solicitation for investment in any way.Support the show

AWS Health Innovation Podcast
#38, Dr. Mary Rozenman & Dr. Chris Probert, insitro

AWS Health Innovation Podcast

Play Episode Listen Later Jan 9, 2023 30:12


Dr. Mary Rozenman, Chief Financial Officer and Chief Business Officer at insitro, and Dr. Chris Probert, senior machine learning scientist at insitro discuss how insitro's discovery process can start on either the clinical or cellular side, why scale is so important in every aspect of insitro's model, and why diversity of experience and background can be a powerful tool in solving hard problems.

The Start Build Grow Show: A Roofing Contractor Podcast
EP 218. Leveraging Visionary Leadership in your Company | Featuring Danielle Shoots

The Start Build Grow Show: A Roofing Contractor Podcast

Play Episode Listen Later Jan 9, 2023 49:24


Danielle Shoots is the Managing Partner and Managing Director of the New Community Transformation fund – Denver and the President and CEO of Wealth Equity Enterprises. She has a wealth of knowledge in executive leadership, finance, and business operations. Most recently, she was the Chief Financial Officer for the Colorado Trust, where she grew the foundation's endowment from $430 million to nearly $600 million.   She also launched a direct investment portfolio across the State, making investments in local media companies, real estate housing, and small businesses while leveraging the endowments' balance sheet for creative bridge financing across multiple sectors and industries.   Hear from Danielle  about investing for small businesses, knowing your numbers, and her success as a visionary in leadership.

The Nomad Capitalist Audio Experience
5 Countries With The Lowest Taxes in Europe

The Nomad Capitalist Audio Experience

Play Episode Listen Later Jan 7, 2023 8:40


Get Our Help: https://nomadcapitalist.com/apply/ Join Our Email List and be the First to Hear about Breaking News and Exciting Offers https://nomadcapitalist.com/email Get on the waiting list and join us for the next Nomad Capitalist Live: www.nomadcapitalist.com/live/ Ever dreamed of living in Europe? Many of us have. However, Europe's stereotypically high tax rates have turned many successful entrepreneurs and investors away from the idea in search of zero-tax countries in the Caribbean, Middle East, or the Pacific Ocean. Here's the deal: while living in Europe and living in one of the countries with the lowest taxes is a rare feat, it is possible for almost anyone to live in Europe full-time and pay low taxes on their income… even if they're not a millionaire. We're not talking about living like a digital nomad. Sure, it's possible to spend three months in the summer living in Europe, then spend another few months further south in a country like Serbia. So long as you don't establish tax ties in any one country, your only concern is making sure you aren't on the hook for taxes in your home country. However, as we increasingly work with seven- and eight-figure business owners, one recurring theme we hear is the desire for a home. For many successful people, dragging a suitcase around the world isn't their thing. They want a (nearly) full-time home and the benefits of minimal taxation. That's where low-tax countries come in. In this video Rusudan, our Chief Financial Officer, shares five countries with the lowest taxes in Europe. The Nomad Capitalist is the world's most sought-after expert on legal offshore tax strategies, investment immigration, and global citizenship. We work exclusively with seven- and eight-figure entrepreneurs and investors who want to "go where they're treated best." Work with Us: https://nomadcapitalist.com/apply/ Nomad Capitalist has created and implemented plans for 1000+ clients and helped them to go offshore, keep more of their wealth, and enjoy an unprecedented level of global freedom. Our growing team of researchers, strategies, and implementers add to our ever-growing knowledge base of the best options available. We've built our team around our holistic approach to serving the needs of globally-minded entrepreneurs and investors. Our growing team of researchers, strategies, and implementers add to our ever-growing knowledge base of the best options available. In addition, we've spent years studying the behavior of hundreds of clients in order to help people get the results they want faster and with less effort. About Andrew: https://nomadcapitalist.com/about/ Our Website: http://www.nomadcapitalist.com Subscribe: https://www.youtube.com/subscription_center?add_user=nomadcapitalist Buy Andrew's Book: https://nomadcapitalist.com/book/ DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.

GFOA
"Not the Way I Want to Grow Up"

GFOA

Play Episode Listen Later Jan 6, 2023 59:12


This episode features a conversation with Dean Rear, General Manager of Financial Services and Chief Financial Officer with the Metro Vancouver Regional District. Growing up in Alberta at the foothills of the Rockies, on a mixed farm of crops and beef cattle, Dean describes his childhood as a “boy life” with miles of open space to ride dirt-bikes and play hockey.

The Legend Of You
How To Become The Next Level YOU with Kevin Palmieri

The Legend Of You

Play Episode Listen Later Jan 6, 2023 29:35


Today's guest is Kevin Palmieri, CFO, and co-host of the Next Level University podcast (NLU). Kevin started without knowing what to do with his life after high school. He job-hopped and worked at a gas station, cleaned hospital bathrooms and floors, and became a forklift operator, personal trainer, on-call firefighter, truck driver, and many other things. He became successful by the world's standards at age 25 when he had a high-paying job in the weatherization industry. He had a sports car, a fit body, and a girlfriend who was a model. However, his girlfriend eventually left him when he would not support her in chasing her dreams. He then realized he needed to work on himself and focus on self-improvement. The following year, he got promoted and traveled for ten months for work. He looked successful, but he didn't feel like it. He then thought he needed to start living consciously and started a podcast called the Hyper Conscious Podcast and fell in love with podcasting and lost interest in his job. He continued working but was burned out and eventually found himself at a dark point in his life. He reached out to a friend who advised him to change his environment.Four months later, Kevin left his job, focused on podcasting, and became a broke entrepreneur. Later, he partnered with Alan, that friend he reached out to, and they co-hosted a podcast now known as NLU. Kevin talks about taking small steps toward goals and building on that. He stresses the importance of having someone to talk to about our emotions, someone willing to listen as we go through our struggles in making things happen. He encourages people to give their dreams a try and be consistent in their efforts to reach their goals.Who is  Kevin Palmieri?Kevin is the Chief Financial Officer, Founder, and Co-Host of Next Level University, which has aired over 1,200 episodes and attracted 725K+ listeners from over 140 countries. He was instrumental in turning the podcast into a six-figure enterprise, and he recorded more than a thousand episodes.As a coach, trainer, consultant, and speaker, Kevin has also conducted numerous trainings and coaching calls with folks from all corners of the globe.He enjoys talking about consistency, commitment, confidence, fear, habits, mindset, relationships, limiting beliefs, and everything else.Kevin is enthusiastic about sharing his knowledge of what it takes to reach one's full potential in the spirit of a heart-centered yet NO BS approach to self-improvement.Check out Kevin:Website: https://www.nextleveluniverse.com/ LinkedIn: https://www.linkedin.com/in/kevin-palmieri-5b7736160 Instagram: @neverquitkid Connect with Chad:Strategy Call: https://calendly.com/mrtenacity40/pgi-coaching-consultWebsite: https://mrtenacity.com/LinkedIn: https://www.linkedin.com/in/chad-osinga-b62a08b1/FB: https://www.facebook.com/108630534048340IG:https://www.instagram.com/mr._tenacity/TikTok: https://www.tiktok.com/@mrtenacity40

The Treasury Career Corner
The Importance of a Personal Brand with Lee-Ann Perkins & Joel Campbell – Feature Episode

The Treasury Career Corner

Play Episode Listen Later Jan 3, 2023 58:35


In this extra special episode, I am joined by not one but TWO amazing previous podcast guests, Lee-Ann Perkins, the Assistant Treasurer at Specialized Bicycle Components, a global leader in the high-end bicycle and bicycle components business and Joel Campbell, the Chief Financial Officer of TreviPay, the global B2B payments and invoicing network, based in Overland Park, Kansas. In this episode, we discuss the importance of having a strong personal brand and how to network effectively to ensure that you are successful in your career. Whether you have just started working in your chosen career path, you're climbing the ladder, or even changing fields, do you ever feel that you need or can offer others a little professional help? This podcast is the perfect opportunity to hear from two industry experts on how networking and developing their personal brand has been a vital cog in their success journey. Achieving career success is about what you have done well, but also just as much about those who have partnered with you, helped you, guided you, and lifted you up along the way. Hear how our guests have benefited from being mentored and becoming mentors and how networking and personal branding have helped them land these mutually beneficial opportunities. Your network is your NETWORTH. The conversation is focused on the importance of building your network and the steps and habits that help you move outside of your comfort zone to build and strengthen your network. You can create a BRAND in minutes and destroy it in seconds. Learn from our guests as we discuss the importance of carving your path and developing your own personal brand. Know your assets, develop them, put them into practice and become known for your strengths. Lee-Ann Perkins Lee-Ann Perkins, CTP(CD), FCT is the Assistant Treasurer at Specialized Bicycle Components, a global leader in the high-end bicycle and bicycle components business. Originally from South Africa, she received her bachelor's in Management Accounting before moving to the USA on expat assignment with her husband. She obtained an MBA with honours and, due to a continued interest in compliance and governance, Lee-Ann completed the inaugural Financial Compliance Certificate through Chicago-Kent Law School in 2016. In 2021 she was awarded the FCT fellow designation with merit from the Association of Corporate Treasurers in the U.K. Lee-Ann holds the Association of Finance Professionals (AFP) CTP and CTP (CD) Canadian certifications and is recognized as a Subject Matter Expert by the AFP serving on the CTP exam formulation committee since 2008. Lee-Ann has been a member of the AFP Treasury Advisory Group since 2017 and is a current Advisory Board member for NACHA. She has served on the Houston Treasury Management Association Board as President & Chairman and held various other committee roles over the years. Lee-Ann has been a Treasury practitioner for 18 years and held roles in increasing authority in Publicly traded Oil and Gas and construction industries. Joel Campbell Joel Campbell is Chief Financial Officer of TreviPay, the global B2B payments and invoicing network, based in Overland Park, Kansas. He leads the company's Finance, FP&A, Accounting, Treasury, and Facilities & Procurement functions, with primary focus on managing all financial aspects of the business and the relationship with its private equity ownership team at Corsair...

Making Billions: The Private Equity Podcast for Startup Founders and Venture Capital Investors
Ryan Miller - 23 Ways You WILL FAIL as an Investor

Making Billions: The Private Equity Podcast for Startup Founders and Venture Capital Investors

Play Episode Listen Later Jan 2, 2023 15:35 Transcription Available


In this week's episode, I talk about how the 23 pitfalls your brain will take you down to mess with your investment criteria.  I call them the 23 cognitive biases.  I will walk you through what I have found from my own research and experiments throughout my career. You don't want to miss it.LIMITED TIME OFFER: SUBSCRIBE FOR FREE TO GET OUR ECONOMIC RESEARCH REPORTS:https://mailchi.mp/d41cfc90bd9f/subscribe-to-newsletterLearn to Launch your own Fundhttps://www.fundlaunchlive.com/2022?affiliate_id=3730376Subscribe to YouTube:https://www.youtube.com/channel/UCTOe79EXLDsROQ0z3YLnu1QConnect with Ryan Miller:Linkedin: https://www.linkedin.com/in/rcmiller1/Instagram: https://www.instagram.com/makingbillionspodcast/Twitter: https://twitter.com/_MakingBillonsWebsite: pentiumcapitalpartners.com[THE HOST]: Ryan is a Venture Capital & Angel investor in technology and energy. He achieved placement growth of 5200% ROI in his first 5 years in the industry. His Podcast, “Making Billions”, was recently ranked in the top 20 Venture Capital Podcasts on the Planet! Previously he served as a Chief Financial Officer for a National, award-winning InsurTech company, which he grew 50% year-over-year. Managed and mentored 250 professionals while serving in this role. Additionally, he has mentored over 500 emerging fund managers to start and scale their investment funds, totaling nearly $1B in funds raised to date.                                                                                                             DISCLAIMER: The information in every podcast episode “episode” is provided for general informational purposes only and may not reflect the current law in your jurisdiction. By listening to our episodes, you understand that no information contained in the episodes should be construed as legal and or financial advice from the individual author, hosts, or guests, nor is it intended to be a substitute for legal, financial, or tax counsel on any subject matter. No listener of the episodes should act or refrain from acting on the basis of any information included in, or accessible through, the episodes without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer, finance, tax and other licensed in the recipient's state, country or other appropriate licensing jurisdiction. No part of the show, its guests, host, content, or otherwise should be considered as a solicitation for investment in any way.Support the show

All Ears - Senior Living Success with Matt Reiners
Listen Again - Humanizing the Finance Team & Effective Communication–Iyvonne Byers, CFO, Priority Life Care, LLC

All Ears - Senior Living Success with Matt Reiners

Play Episode Listen Later Dec 27, 2022 19:51


Originally recorded Aug 2021 We're opening up this episode of All Ears from before we officially started the podcast, with Iyvonne Byers, Chief Financial Officer with Priority Life Care, LLC to talk about the stigmas that come with the finance department in senior living and how the finance roles can actually enable more joy across communities. Listen to hear how the finance team can actually be your "yes" team for spending in the best ways possible.

John Solomon Reports
Special Report: ‘Cutting Spending, the Policies Worth Saving'

John Solomon Reports

Play Episode Listen Later Dec 26, 2022 47:23


John Solomon, Editor-in-Chief of Just the News, hosts ‘Cutting Spending, the Policies Worth Saving' sponsored by Heritage Action for America discussing the new ways that the incoming Conservative majority in the House of Representatives can work with the split Senate and the Biden administration to cut government spending.Expert panel featuring: Sen. Rick Scott (R-FL), Director of the ‘Grover M. Hermann Center for the Federal Budget' Matthew Dickerson, Chief Financial Officer of Florida- Jimmy Patronis, Rep. Tom McClintock (R-CA), and ‘Heritage Action for America' State Advocacy Director- Catherine Gunsalus.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Making Billions: The Private Equity Podcast for Startup Founders and Venture Capital Investors
Flint Capital - How to Find the VC of your Dreams - Sergey Gribov

Making Billions: The Private Equity Podcast for Startup Founders and Venture Capital Investors

Play Episode Listen Later Dec 26, 2022 19:17 Transcription Available


In this week's episode, I bring on my dear friend Sergey Gribov.  Sergey is a recovering Angel Investor now serving as a Partner at Flint Capital. Join Sergey and me as we discuss how he has realized $100M exits all the way to his darling unicorn coming in at a staggering $4.5B!  He brings a ton of wisdom to Flint Capital, a fund that was just ranked by Inc. Magazine as one of the most founder-friendly funds on the planet. You don't want to miss it.LIMITED TIME OFFER: SUBSCRIBE FOR FREE TO GET OUR ECONOMIC RESEARCH REPORTS:https://mailchi.mp/d41cfc90bd9f/subscribe-to-newsletterLearn to Launch your own Fundhttps://www.fundlaunchlive.com/2022?affiliate_id=3730376Subscribe to YouTube:https://www.youtube.com/channel/UCTOe79EXLDsROQ0z3YLnu1QConnect with Ryan Miller:Linkedin: https://www.linkedin.com/in/rcmiller1/Instagram: https://www.instagram.com/makingbillionspodcast/Twitter: https://twitter.com/_MakingBillonsWebsite: pentiumcapitalpartners.com[MY GUEST]: Sergy Gribov is Partner at Flint Capital, an early-stage venture fund that invests across Israel, the USA, and Europe. Sergey is an investor and board member at Socure, Cyolo, Sensi.ai, Quantori, and others.Sergey is a technology entrepreneur and investor with more than 20 years of experience. Over the years he participated as a founder or top manager in many startups in USA and Israel. Sergey has a lot of experience in IT, across such sectors as software development, cybersecurity, digital health, fintech, and others.Sergey holds an MBA from MIT Sloan School of Management and a B.Sc. in Computer Science, Cum Laude from Beer-Sheva University.[THE HOST]: Ryan is a Venture Capital & Angel investor in technology and energy. He achieved placement growth of 5200% ROI in his first 5 years in the industry. His Podcast, “Making Billions”, was recently ranked in the top 20 Venture Capital Podcasts on the Planet! Previously he served as a Chief Financial Officer for a National, award-winning InsurTech company, which he grew 50% year-over-year. Managed and mentored 250 professionals while serving in this role. Additionally, he has mentored over 500 emerging fund managers to start and scale their investment funds, totaling nearly $1B in funds raised to date.                                                                                                             DISCLAIMER: The information in every podcast episode “episode” is provided for general informational purposes only and may not reflect the current law in your jurisdiction. By listening to our episodes, you understand that no information contained in the episodes should be construed as legal and or financial advice from the individual author, hosts, or guests, nor is it intended to be a substitute for legal, financial, or tax counsel on any subject matter. No listener of the episodes should act or refrain from acting on the basis of any information included in, or accessible through, the episodes without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer, finance, tax and other licensed in the recipient's state, country or other appropriate licensing jurisdiction. No part of the show, its guests, host, content, or otherwise should be considered as a solicitation for investment in any way.Support the show

Making Billions: The Private Equity Podcast for Startup Founders and Venture Capital Investors
Flint Capital - How to Find the VC of Your Dreams - Sergey Gribov

Making Billions: The Private Equity Podcast for Startup Founders and Venture Capital Investors

Play Episode Listen Later Dec 26, 2022 19:17 Transcription Available


In this week's episode, I bring on my dear friend Sergey Gribov.  Sergey is a recovering Angel Investor now serving as a Partner at Flint Capital. Join Sergey and me as we discuss how he has realized $100M exits all the way to his darling unicorn coming in at a staggering $4.5B!  He brings a ton of wisdom to Flint Capital, a fund that was just ranked by Inc. Magazine as one of the most founder-friendly funds on the planet. You don't want to miss it.LIMITED TIME OFFER: SUBSCRIBE FOR FREE TO GET OUR ECONOMIC RESEARCH REPORTS:https://mailchi.mp/d41cfc90bd9f/subscribe-to-newsletterLearn to Launch your own Fundhttps://www.fundlaunchlive.com/2022?affiliate_id=3730376BlockFi Pays You Interest on Your Crypto Savings Account:https://app.blockfi.com/signup/?ref=155c31ecSubscribe to YouTube:https://www.youtube.com/channel/UCTOe79EXLDsROQ0z3YLnu1QConnect with Ryan Miller:Linkedin: https://www.linkedin.com/in/rcmiller1/Instagram: https://www.instagram.com/thercmiller/Twitter: https://twitter.com/TheRCMillerWebsite: pentiumcapitalpartners.com[MY GUEST]: Sergey Gribov[THE HOST]: Ryan is a Venture Capital & Angel investor in technology and energy. He achieved placement growth of 5200% ROI in his first 5 years in the industry. His Podcast, “Making Billions”, was recently ranked in the top 20 Venture Capital Podcasts on the Planet! Previously he served as a Chief Financial Officer for a National, award-winning InsurTech company, which he grew 50% year-over-year. Managed and mentored 250 professionals while serving in this role. Additionally, he has mentored over 500 emerging fund managers to start and scale their investment funds, totaling nearly $1B in funds raised to date.                                                                                                             DISCLAIMER: The information in every podcast episode “episode” is provided for general informational purposes only and may not reflect the current law in your jurisdiction. By listening to our episodes, you understand that no information contained in the episodes should be construed as legal and or financial advice from the individual author, hosts, or guests, nor is it intended to be a substitute for legal, financial, or tax counsel on any subject matter. No listener of the episodes should act or refrain from acting on the basis of any information included in, or accessible through, the episodes without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer, finance, tax and other licensed in the recipient's state, country or other appropriate licensing jurisdiction. No part of the show, its guests, host, content, or otherwise should be considered as a solicitation for investment in any way.Support the show

Cannabis Talk 101
Giovanti Humphries the Co-founder & Chief Financial Officer of Lime.

Cannabis Talk 101

Play Episode Listen Later Dec 23, 2022 48:26


It's LIME TIME! The best things in life come with a lime on the side. check out the website: https://limecannabis.co/ find them on IG @letmelime See omnystudio.com/listener for privacy information.

The Nomad Capitalist Audio Experience
How to Avoid the US Tax Trap

The Nomad Capitalist Audio Experience

Play Episode Listen Later Dec 23, 2022 6:30


Get Our Help: https://nomadcapitalist.com/apply/ Join Our Email List and be the First to Hear about Breaking News and Exciting Offers https://nomadcapitalist.com/email Get on the waiting list and join us for the next Nomad Capitalist Live: www.nomadcapitalist.com/live/ Citizenship-based taxation refers to the process by which a nation taxes its citizens irrespective of their status as residents. In this video Rusudan, our Chief Financial Officer, shares how to avoid the US Tax Trap. Andrew Henderson and the Nomad Capitalist team are the world's most sought-after experts on legal offshore tax strategies, investment immigration, and global citizenship. We work exclusively with seven- and eight-figure entrepreneurs and investors who want to "go where they're treated best". Work with Andrew: https://nomadcapitalist.com/apply/ Andrew has started offshore companies, opened dozens of offshore bank accounts, obtained multiple second passports, and purchased real estate on four continents. He has spent the last 12 years studying and personally implementing the Nomad Capitalist lifestyle. Our growing team of researchers, strategies, and implementers add to our ever-growing knowledge base of the best options available. In addition, we've spent years studying the behavior of hundreds of clients in order to help people get the results they want faster and with less effort. About Andrew: https://nomadcapitalist.com/about/ Our Website: http://www.nomadcapitalist.com Subscribe: https://www.youtube.com/subscription_center?add_user=nomadcapitalist Buy Andrew's Book: https://nomadcapitalist.com/book/ DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.    

IDEA Collider
The Industrial Revolution of Drug Discovery with Dr. Michael Secora

IDEA Collider

Play Episode Listen Later Dec 21, 2022 51:36


Welcome to another incredible episode of the IDEA Collider series with your host Mike Rea. Today the Chief Financial Officer at Recursion, Dr. Michael Secora, joins us on the show as we discuss the industrial revolution of drug discovery. Michael is a scientist and a former equity investor.In the episode, Michael delves into the reasons behind the incredibly fast growth at Recursion, the company's mission of decoding biology to radically improve lives, the relatability of data, and how Recursion builds its various data sets for drug discovery. Moreover, he expounds on how Recursion stands out against its competitors in the tech industry, the unique demographics of the Recursion team, and what differentiates Recursion from other AI discovery companies.Tune in!During this episode, you will learn about;[00:23] Introducing today's episode[01:29] About Michael Secora and Recursion as it is today[04:58] Recursion's Mission on decoding biology to improve lives radically[08:48] Biotechnology versus BioPharma Companies[15:00] Relatability of Data[17:10] Recursion's data sets & their contents[22:13] How many terabytes of data are they in executing each experiment[24:15] How Recursion stands out against competitors in the Tech environment[26:23] Michael's approach to humility in the pharmaceutical industry[28:28] Demographics of the Recursion team[31:20] Recursion's Hack Week[34:51] The difference between AI discovery companies & Recursion[40:11] A hint of Recursion incredible speed in delivering value proposition[47:47] Michael's Book Recommendations[50:16] How to connect with Michael & Recursion` Don't forget to Follow, Rate, Review, Like, and Share! Mentioned BooksJourney through Mathematics by Enrique A. GonzalezTeam of Teams by Gen. Stanley McChrystal, Tantum Collins, David Silverman & Chris FusselWhat is Life by SchrodingerLet's Connect!Follow Recursion on;Website: https://www.recursion.com/LinkedIn: https://www.linkedin.com/company/recursion-pharmaceuticals/ Follow Michael SecoraLinkedIn: https://www.linkedin.com/in/michael-secora-phd/ More ProductsFollow Mike Rea on;Website: https://www.ideapharma.com/Twitter: https://twitter.com/ideapharmaLinkedIn: https://www.linkedin.com/in/bigidea/ To listen to more amazing podcast episodes: https://podcast.ideapharma.com/

Who Gets What?
Administering Public School Funds

Who Gets What?

Play Episode Listen Later Dec 20, 2022 28:48


The Chief Financial Officer of The Metropolitan School District of Wayne Township, Barry Gardner, is our guest.  Since he also serrved as an athletic director, we learn about supervising resources, designing a health insurance plan, and suspending a previously-approved property tax.  

Making Billions: The Private Equity Podcast for Startup Founders and Venture Capital Investors
PatentForecast.com - 10x Asset Values and Exit Multiples - Jinan Glasgow George

Making Billions: The Private Equity Podcast for Startup Founders and Venture Capital Investors

Play Episode Listen Later Dec 19, 2022 25:17 Transcription Available


In this week's episode, I bring on my dear friend Jinan Glasgow George.  Jinan is the founder and CEO of Neo IP and PatentForecast.com. Join JiNan and me as we discuss how her technology gives Private Market Investors and Entrepreneurs a leading indicator of changes in their market leading to higher profits and smoother strategies. You don't want to miss it.LIMITED TIME OFFER: SUBSCRIBE FOR FREE TO GET OUR ECONOMIC RESEARCH REPORTS:https://mailchi.mp/d41cfc90bd9f/subscribe-to-newsletterLearn to Launch your own Fundhttps://www.fundlaunchlive.com/2022?affiliate_id=3730376BlockFi Pays You Interest on Your Crypto Savings Account:https://app.blockfi.com/signup/?ref=155c31ecSubscribe to YouTube:https://www.youtube.com/channel/UCTOe79EXLDsROQ0z3YLnu1QConnect with Ryan Miller:Linkedin: https://www.linkedin.com/in/rcmiller1/Instagram: https://www.instagram.com/thercmiller/Twitter: https://twitter.com/TheRCMillerWebsite: pentiumcapitalpartners.com[MY GUEST]: Jinan Glasgow George[THE HOST]: Ryan is a Venture Capital & Angel investor in technology and energy. He achieved placement growth of 5200% ROI in his first 5 years in the industry. His Podcast, “Making Billions”, was recently ranked in the top 20 Venture Capital Podcasts on the Planet! Previously he served as a Chief Financial Officer for a National, award-winning InsurTech company, which he grew 50% year-over-year. Managed and mentored 250 professionals while serving in this role. Additionally, he has mentored over 500 emerging fund managers to start and scale their investment funds, totaling nearly $1B in funds raised to date.                                                                                                             DISCLAIMER: The information in every podcast episode “episode” is provided for general informational purposes only and may not reflect the current law in your jurisdiction. By listening to our episodes, you understand that no information contained in the episodes should be construed as legal and or financial advice from the individual author, hosts, or guests, nor is it intended to be a substitute for legal, financial, or tax counsel on any subject matter. No listener of the episodes should act or refrain from acting on the basis of any information included in, or accessible through, the episodes without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer, finance, tax and other licensed in the recipient's state, country or other appropriate licensing jurisdiction. No part of the show, its guests, host, content, or otherwise should be considered as a solicitation for investment in any way.Support the show

The Nomad Capitalist Audio Experience
What Will the UAE's 9% Tax Mean?

The Nomad Capitalist Audio Experience

Play Episode Listen Later Dec 19, 2022 6:47


Get Our Help: https://nomadcapitalist.com/apply/ Join Our Email List and be the First to Hear about Breaking News and Exciting Offers https://nomadcapitalist.com/email Get on the waiting list and join us for the next Nomad Capitalist Live: www.nomadcapitalist.com/live/ On January 31, the United Arab Emirates' Ministry of Finance announced the implementation of a federal corporate tax regime at a standard nine percent rate, which will apply to relevant businesses from June 2023. While complying with international standards, UAE has very carefully balanced its obligations and interests to remain a location of choice for foreign direct investments in the Middle East. The competition for being a regional business hub is fierce, given that giant neighbor Saudi Arabia also has set up initiatives to own a large portion of the market. With a corporate tax of nine percent, large deduction and tax losses rules, and generous foreign tax credits, UAE is increasing its attractiveness as a compliant yet friendly tax country. In comparison, Saudi Arabia's corporate tax rate is 20%, Egypt's is 22.5%, Oman and Kuwait offer a 15% rate, and Qatar's is 10%. In this video Rusudan, our Chief Financial Officer shares all the details of what UAE's 9% tax means. Andrew Henderson and the Nomad Capitalist team are the world's most sought-after experts on legal offshore tax strategies, investment immigration, and global citizenship. We work exclusively with seven- and eight-figure entrepreneurs and investors who want to "go where they're treated best". Work with Andrew: https://nomadcapitalist.com/apply/ Andrew has started offshore companies, opened dozens of offshore bank accounts, obtained multiple second passports, and purchased real estate on four continents. He has spent the last 12 years studying and personally implementing the Nomad Capitalist lifestyle. Our growing team of researchers, strategies, and implementers add to our ever-growing knowledge base of the best options available. In addition, we've spent years studying the behavior of hundreds of clients in order to help people get the results they want faster and with less effort. About Andrew: https://nomadcapitalist.com/about/ Our Website: http://www.nomadcapitalist.com Subscribe: https://www.youtube.com/subscription_center?add_user=nomadcapitalist Buy Andrew's Book: https://nomadcapitalist.com/book/ DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.

The WorkSAFE Podcast | Workplace Safety Strategies
Ep. 97: Prices on the Rise | How Inflation Affects Work Comp Coverage

The WorkSAFE Podcast | Workplace Safety Strategies

Play Episode Listen Later Dec 15, 2022 26:02


The cost of goods and services is increasing, and buyers aren't the only ones affected. Businesses are also battling to maintain their bottom line. Understand how inflation impacts work comp and how claims costs are handled with Andy Ribaudo, Vice President and Chief Financial Officer at Missouri Employers Mutual, and Lyndi Barthel, Manager of Medical Services.

Built for Change
Looking Ahead to the Future of Travel

Built for Change

Play Episode Listen Later Dec 14, 2022 25:52 Very Popular


Over the past several years, disruption has been the norm in the travel industry. But in 2022, customer demand for vacations, air travel and other forms of hospitality climbed back toward pre pandemic levels. In this episode, we'll explore how the demands of the modern traveler are shifting – and how companies can reward their customers with new experiences, better service and seamless operations. We'll speak to Claire Bennett, Global Chief Customer Officer at IHG Hotels and Resorts; Emily Weiss, Global Travel Industry Lead at Accenture; and Steven Zaat, Chief Financial Officer at Air France-KLM.

The Capital Stack
Jim Douglas of Fulcrum Equity on Growth Equity Investing, Healthcare Services, and Valuations

The Capital Stack

Play Episode Listen Later Dec 13, 2022 20:49


This week David is interviewing Jim Douglas who is a Managing Partner at Fulcrum Equity based in Atlanta, Georgia. Fulcrum is a growth equity platform that focuses on software technology and healthcare services in undercapitalized markets. Jim has been actively investing for years and I am truly fortunate to have him on the show.Prior to joining Fulcrum, Jim was CEO of Vesdia, a pioneer in loyalty and card-linked marketing for financial services, airline, and hospitality companies, which merged with Cartera Commerce and sold to Raketun. Before Vesdia, he served as CEO for Atlanta-based Visionary Systems, Inc. (VSI), a provider of decision systems for credit providers and retailers that was sold to Trans Union. Prior to these roles, Jim served as the Executive Vice President of Corporate Development and Chief Financial Officer with CheckFree Corporation, the leading provider of electronic billing and payment services to financial institutions. He has also held the role of Vice President and Corporate Controller of Medaphis Corporation, a leading provider of medical billing and management software and services for physicians and hospitals. He began his career with KPMG in the Financial Services practice after graduating with a BBA in Accounting from Georgia State University.Jim is currently a board member of Kobiton, Dropoff, SureFire Local, Kevel, Digital Hands, Vertify, and GoPivot. He has also served on boards supporting the growth of successful Fulcrum exits in Fattmerchant, QASymphony, Prevalent, LogFire, ALS Resolvion, and outside of Fulcrum GroBanking, FactorTrust, and Paymentus. In the community, Jim sits on the boards of Venture Atlanta, ACG (Association for Corporate Growth), and UNICEF Southeast Region. What You Will Learn:Growth Equity StrategiesCapital Efficiency and ValuationDiversifying a Portfolio with Services and SoftwareInvesting Through Market Cycles