From Founder to CFO: Jessica Lanier on Leadership, Acquisitions, and Career Growth

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Aug 8, 2024

Jessica Lanier, CFO of Restaurant365 and seasoned finance leader, shares her journey from founder to CFO. She highlights the critical relationships between CEOs, CFOs, and CROs during acquisitions. Jessica discusses the unique skills required for success in private versus public sectors and the emotional complexities of leadership transitions. She also reflects on the importance of trust in M&A processes and offers insights on evaluating potential job opportunities while encouraging leaders to embrace change and tackle self-doubt.

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INSIGHT

Founder-CFO Advantage

Having been a founder offers unique advantages as a CFO.
It allows for both empathetic support to the CEO and objective decision-making.

INSIGHT

CFO-CRO Partnership

The CFO-CRO relationship is crucial for success.
Focus on finding solutions together instead of viewing finance as a roadblock.

INSIGHT

CFO Storytelling

A CFO's storytelling ability is critical, especially in public companies.
Focus on painting a vision of future opportunities and how the company will capitalize on them.

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In this episode, CJ talks to Jessica Lanier, CFO of Restaurant365 and the first CFO guest on the podcast who has firsthand experience as a founder. On top of this, every company she has worked for has been acquired, so she has a wealth of knowledge on all things M&A. She talks about what makes a great CEO-CFO relationship and why a good relationship with the CRO is also so important. She also explores the benefits of operating a company at scale and whether private and public companies require different skills. Jessica shares her most extreme experience of M&A, what finance leaders should expect after their companies are acquired, and the role of trust and credibility in this process. She also discusses her framework for evaluating a company you may want to work for, before offering profound advice on recognizing when you’re ready for your next role.

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@cjgustafson222 (CJ)

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TIMESTAMPS:

(00:00) Preview and Intro

(03:00) Sponsor - NetSuite | Maxio

(05:44) How Being a Founder Makes You a Better CFO

(10:37) The CFO’s Role in Supporting the CEO

(13:07) The Hallmarks of a Good CFO-CRO Relationship

(17:00) Skills for Private Companies Versus Public Companies

(20:34) The Benefits of Operating a Company at Scale

(22:52) Sponsor - Leapfin | Planful | Mercury

(26:28) Important Qualities for Operating at Scale

(27:57) Re-interviewing for a Job After Being Acquired

(31:22) Jessica’s Most Extreme Experience of M&A

(34:45) Fairness, Trust, and Credibility in M&A

(39:07) What a CFO Should Expect After Their Company is Acquired

(43:22) Jessica’s Framework for Evaluating a Company

(50:08) How You Know You’re Ready for Your Next Role

(52:59) Long-ass Lightning Round: Hiring Mistakes and Other Advice

(57:02) Finance Software Stack

(58:16) Craziest Expense Story

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