Finance Leadership Blog

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Most Experienced FD's STRUGGLED at the Start – Here's Why

finance career finance leadership Oct 15, 2022

There are many different ways to become a Finance Director / CFO of a start-up or Fast Growth business, and my story isn't too dissimilar to potentially yours, I'm sure.

I got my accounting qualification in Australia and then moved to the UK in 2006 - and like many expats the plan was to travel around for a couple of years and then head back home.  But here I am, 16 years later and still in London with my new family.

I started working in London for Great Western and we had the most luxurious offices - above Platform 1 at Paddington Train station.  That's right.  If you ever find yourself at Paddington Train Station, look up on Platform 1 and you'll see the offices.


Sufficient to say they had a dull smoky smell and I was introduced to the world of Spinners.  Like Trainspotters, but for buses. It was an interesting gig!


I then landed a Financial Controlling role at Lovefilm - which believe it or not, used to send DVDs through the post as a more advanced option to the old Blockbuster video stores.  


Luckily for me, the CFO there, Jim Buckle was an absolutely brilliant leader and he groomed me for 6 years.  I still consider him a mentor today.  What a win.


After the Amazon acquisition, I moved to Funding Circle as the first Finance Director - and the most senior finance person in the company. This company was incredibly fast paced, exciting and challenging.


This is where I learnt to swim - just.

Lots of highs and lows during my teneur at Funding Circle.  The lows were largely due to not understanding the leadership role in the beginning properly.

I worked very long hours, as most people do for fast growth businesses - but I spent most of my time fighting fires.

As I have written about before, after a bad review I had to learn very quickly that just keeping my head above water wasn't going to cut it.


Now years later - I look back with some fondness at how inexperienced I was when I first got that role and also with an appreciation of that experience.


Especially as this experience is not that unique.


It's actually incredibly common. Almost too common.
 
I often think about where I was back at Funding Circle and what I would have LOVED to have been taught.
 
I have now spent the last few years working as a Portfolio CFO for quite a few businesses and coaching new FDs on how to  better understand their new role and what a founder will expect.
 
I get such a thrill when a student comes away with some ah-ha moments, tools or methods that they want to implement and a better understanding of their role. I see it as a way to stop the cycle of new FD's or aspiring FD's struggling to keep their head above water in the start-up world and not understanding the role properly. It can be a real confidence killer when you get some negative feedback or you let that imposter syndrome gnaw at you instead getting some support that you deserve. And unfortunately start-ups just don't have that kind of support you need, internally. I know from experience.


So envisioning my younger self and stopping that cycle of new FD's making the same mistakes that I and many, many FD's before them did are the main motivations for me to go down this course creation route rather than just focusing on helping founders and Start-ups directly.

FDs are leaned on so heavily by founders who are spinning so many plates!  We need to be supported! 


If you need support and mentoring to improve your Finance Leadership skills, here are four ways I can help...

  1. Get your FREE Guide: Stepping into the role of Finance Director or CFO
  2. Follow me and let me know what challenges you are having right now.
  3. Register for the mini-course, Upgrade your Management Accounts and get noticed by the business 
  4. Work with me in the new / aspiring FD course and includes Q&A sessions where we can discuss all of your questions and how to apply your learnings to your current role. 

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