The Secret CFO Profile picture
Aug 25 9 tweets 3 min read
1/ I’m new here so thought I’d introduce myself.

I’m a career corporate CFO.

I specialise in very large private businesses (10 figure+ revenue biz)

I’ve been lucky to work with billionaire entrepreneur CEOs, and some outstanding listed CEOs

#accounting #accountant #finance
2/ I started in the Big 4, then jumped out 2 days after I qualified.

Then moved into FP&A / commercial roles initially in very large corporates.

I became CFO of a $1bn revenue consumer business whilst still 30 and have since done 10 years as CFO of very large and businesses
3/ I’m currently a few years into a high profile turnaround of a global business with listed securities, hence the anon account.

Most of my career has been in retail, leisure, consumer or manufacturing.

As well as finance, I have run procurement, IT, supply chain, commercial.
4/ I’ve specialised my expertise in high complexity engagements and turnaround situations.

So have done lots of M&A (buy and sell), distressed financing, operational restructuring, etc. All the good stuff!
5/ Over my 20 year career I’ve built out a pretty extensive playbook for getting to and succeeding in, complex CFO roles.

Im looking forward to sharing what I’ve learnt here
6/ My objectives with this account are:

1) Get better at writing

2) Learn more closely from some of the outstanding tech Twitter brains on here

3) Work out how this thinking can be applied into building a modern finance career, so I can be a better mentor
7/ By following me, you can expect daily tweets covering
- simple summaries of finance concepts
- insight into the CFO mindset
- skills for leading large teams
- broader business skills relevant for CFO
- how to make great finance career decisions
8/ I expect this to be most useful to finance professionals on a Bigco CFO path and looking to accelerate the journey. But all are welcome.

I intended to start this a year ago but decided I didn’t have the time to commit to the consistency needed.

Anyway, here I am!
Please follow @SecretCFO, and retweet the original post.

Also a reply with any advice for a Twitter newbie would be awesome!

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More from @SecretCFO

Aug 26
How does a CFO prep for an earnings call?

Short answer … it’s a shit ton of work.

Here’s what I do 👇🏼
1. Stay on top of performance

No good waiting until the quarter is gone. I use weekly reporting and monthly a management accounts to track performance vs plan inside the quarter.

If something comes off, I’m onto my Business Unit CFO to ensure there’s a recovery plan.
I’m tracking yoy sales, yoy EBITDA, & free cash generation in absolute.

If something falters I’ll keep digging (through monthly management reviews) to ensure we understand the root issue and got the right plan.

Ensure accountability is in right place, and monitor relentlessly
Read 20 tweets
Aug 23
Barry tackles negotiation using gut feel and trusts his ‘instinctive brilliance’.

Barry leaves $$$ on the table and doesn’t even know he’s done it.

Don’t be Barry.

Here are six practical tips to make you a better negotiator today

🧵
1. Grow the cake first

A negotiation is always easier if new value can be created by working together.

Agreeing how you share the cake, is much easier if you have first made the cake as big as possible.

Exploring mutual value opportunities first helps build rapport too
2. Ask “how” and “what” questions

Good negotiation is primarily about learning more about the other side.

The best way to do this? Ask questions.

“Why” questions tend to come off confrontational, so avoid. “How” and “What” are more open. You’ll learn more.
Read 9 tweets
Aug 22
Selling a business is a once only opportunity to realise value.

Getting it wrong could cost millions of dollars you never even knew you lost

Here’s your guide to maximising the value from the sale of a business

🧵
Harvard teaches over 100 different methods of valuing a business.

Complicated right?

Well not really.

I’ve sold 15 businesses as CFO (smallest $100k, biggest $350m) and every single one came down to the same simple formula…
Firstly to reach the headline price, or Enterprise Value (EV)

EV = EBITDA x Multiple

Then to reach Equity Value (Eq V) or the actual price paid;

Eq V = EV + (or -) Equity Value Adjustments

Let’s break down each component
Read 17 tweets

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