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Aligning Sales and Financial Goals for Success
Manage episode 421771248 series 3565239
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Ever wondered how the CFO of a rapidly scaling company manages to keep financial chaos at bay? Join us in our latest episode of Scaling Up as we uncover the inside story with Libu Mathew, the CFO of NJ Bio. Libu shares his transformative journey from being the solitary financial handler to leading a robust team, offering indispensable advice on cash flow management, budgeting, and strategic planning for significant expenditures. Learn firsthand from Libu's experiences and discover practical strategies to ensure financial stability in a growing business.
Maintaining a positive net income can be a daunting task for small companies, but it’s crucial for survival. Dive into the essential aspects of managing cash flow, from securing vendor credit to ensuring sufficient cash reserves, and how collaboration with the sales team can make a world of difference. We explore the day-to-day practices that instill financial discipline among team members and strategies to avoid unnecessary spending, ensuring you have the tools to manage revenue cycles effectively.
Ever heard of the "go-get number"? Find out how aligning sales strategies with financial goals can help you meet annual revenue targets. We discuss the critical role of a Chief Business Officer in negotiating contracts that favor the company's financial interests and the common misalignment between sales and financial objectives. Libu also shares insights on the CFO's involvement in managing software changes within the department and the evolution of financial management, highlighting the increasing financial literacy among individuals. Tune in to learn how to navigate the complexities of scaling up while ensuring your company’s financial health.
Chapters
1. Financial Strategies for Scaling Companies (00:00:00)
2. Managing Cash Flow for Business Success (00:09:10)
3. Financial Strategy and Challenges in Business (00:16:02)
4. Importance of CFO in Software Changes (00:28:02)
5. Financial Management Evolution and Motivation (00:41:10)
3 episodes
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