Navigating Financial Success: Strategies for Women Founders with Priya Chanduraj

In this episode the discussion centers on the transformative potential of financial leadership, particularly in the context of amplifying women’s contributions to the business landscape.

We are privileged to host Priya Chanduraj a visionary finance executive and the President and CEO of Finteam1, who is redefining financial services for small and medium-sized enterprises.

Throughout our conversation, we explore the evolving role of women in finance, the significance of financial clarity for entrepreneurs, and the necessity for tailored financial solutions that align with individual business objectives.

Join us as we delve into the insights that can illuminate the path to prosperity for women-led enterprises.

Takeaways:

  • Priya’s mission to empower 100,000 small and medium-sized businesses illustrates the potential for financial transformation.
  • The episode emphasizes the importance of financial clarity and strategic insight for entrepreneurs to thrive in competitive markets.
  • Understanding the distinction between financial roles is crucial for effective business management and growth.
  • Embracing innovative financial strategies can unlock unprecedented opportunities for women-led enterprises in today’s market.
  • The narrative highlights that financial responsibility is integral to entrepreneurship, shaping the path towards success and growth.

Burning Questions Answered:

1. What’s the difference between bookkeeping, controlling, and real CFO strategy?

2.Why do so many women founders resist looking at their numbers?

3.How can financial modeling actually reduce emotional decision-making?

4.What’s the first step to financial clarity, even if you’re behind?

5.Why is the future of finance both human and female?

Favorite Quotes:

“If you don’t know where you are financially, it’s like driving with no map—and no brakes.” – Priya

“Finance isn’t just about numbers. It’s how founders tell their story with power.” – Priya

Closing Thoughts:

At the heart of every business is a story—and your financials are the clearest way to tell it.

Coco and Priya challenge founders to rethink finance not as restriction, but as strategy, visibility, and empowerment. Whether you’re growing fast or stuck in neutral, financial clarity is your leadership edge.

Offers & Contact Information:

Personal LinkedIn: https://www.linkedin.com/in/priya-chanduraj-aa86753/ 

Business LinkedIn: https://www.linkedin.com/company/finteam-one/posts/?feedView=all 

Website: https://www.finteam.one/ 

Follow the #WisdomOfWomen show for more inspiring stories and insights from trailblazing women founders, investors, and experts in growth and prosperity.

YouTube: https://tinyurl.com/yja3w7nh

Spotify: https://tinyurl.com/4tak8ajk 

Amazon Prime: https://tinyurl.com/366syddj 

Apple Podcasts: https://tinyurl.com/bdhananz 

RSS Feed: https://feeds.captivate.fm/womengetfunded/ 

Coco Sellman, the host of #WisdomOfWomen, believes business is a force for good, especially with visionary women at the helm. With over 25 years of entrepreneurial experience, she has launched five companies and guided over 500 startups. As Founder & CEO of A Force for Good, Coco supports purpose-driven women founders in unlocking exponential growth and prosperity. Her recent venture, Allumé Home Care, reached eight-figure revenues and seven-figure profits in just four years before a successful exit in 2024. A venture investor and board director, Coco’s upcoming book, *A Force for Good*, reveals a roadmap for women to lead high-impact, high-growth companies.

Learn more about A Force for Good:

Website: https://aforceforgood.biz/ 

Are Your GROWING or PLATEAUING? https://aforceforgood.biz/quiz/

1-Day Growth Plan: https://aforceforgood.biz/free-plan/ 

FFG Tool of the Week: https://aforceforgood.biz/weekly-tool/ 

The Book:  https://aforceforgood.biz/book/ 

Growth Accelerator: https://aforceforgood.biz/accelerator/

Transcript
Speaker A:

Welcome to the Wisdom of Women Show.

Speaker A:

We are dedicated to amplifying the voice of women in business.

Speaker A:

A new model of leadership is emerging and we are here to amplify the voices of women leading the way.

Speaker A:

I am your host Coco Selman, five time founder and IMPACT investors.

Speaker A:

I thank you for joining us today as we illuminate the path to unlocking opportunities and prosperity for women led enterprises by amplifying the voice and wisdom of women.

Speaker A:

Today we have a guest that I have been wanting to get on the show for two years.

Speaker A:

I'm so excited to finally have Priya Chandaraj who is a visionary finance executive and transformational leader redefining financial services for small and medium sized businesses, startups and PE backed firms.

Speaker A:

As President and CEO of Finteam1, she is revolutionizing outsourced finance, making enterprise level finance strategy, CFO services and accounting accessible and scalable for growth focused businesses with 20 plus years of experience in finance transformation and advisory across Fortune 500s and scaling companies re transactional finance and strategic foresight.

Speaker A:

Priya's mission empower 100,000 SMBs globally unlocking a trillion dollars in value through tech driven data informed financial leadership.

Speaker A:

Under her guidance, Finteam1 is more than a firm, it's a catalyst for growth, transparency and operational excellence.

Speaker A:

Priya is serving as President of FEI Boston.

Speaker A:

She's a Trustee of Regis College.

Speaker A:

She's on the Finance Committee with the Salvation army in Boston.

Speaker A:

She is a sought after speaker on financial innovation and inclusive leadership, committed to driving impact through governance, financial empowerment and community stewardship.

Speaker A:

So delighted to have you here Priya.

Speaker B:

Thank you Coco.

Speaker B:

I'm so glad to be here.

Speaker B:

I think this is one of those possible podcast I've been wanting to be on.

Speaker B:

So it's taken a long time for me to have the courage to be on your show.

Speaker B:

So I'm so glad to be here and I love everything that you're doing so I'm a true fan.

Speaker A:

Oh you're a dear.

Speaker A:

And I Priya and I met a couple of years ago at a How Women Lead event in Boston.

Speaker A:

It was a get on board event and we had such a nice time.

Speaker A:

We just stayed in touch and it was at a time when Priya was transitioning.

Speaker A:

It's so good to see all of your success and all of the good stuff that you have created in that time.

Speaker A:

So as we get started, I'd love to hear for our icebreaker question.

Speaker A:

What is one book written by a woman that has significantly influenced your life?

Speaker B:

I think a book that has left A lasting impression on me is actually two.

Speaker B:

One is how women lead, but the other one that's more close and dear to me is My Life Is Full by Indra Nooney.

Speaker B:

And she's, she's an immigrant woman navigating leadership, building her legacy and her story just spoke straight from the soul.

Speaker B:

Like it was very impactful.

Speaker B:

She's, she's not just a former CEO of PepsiCo.

Speaker B:

She was such a trailblazer at her era and how she defined what leadership meant.

Speaker B:

She was, you know, she was super intelligent, you know, empathetic, she was relentless.

Speaker B:

She had like the grit and I think it was balancing family culture, corporate ambition.

Speaker B:

So much of that I say would like mirror so much of what I've been experiencing throughout my career.

Speaker B:

And also building finteam one, supporting other businesses, especially women led businesses I feel super passionate about that aligns with what I do.

Speaker B:

And I admire how she was so unapologetic, energetically a champion for what she did.

Speaker B:

Even now when I listen to Masterclass series I'm like ah, something came from a book and how she empowered the next generation.

Speaker B:

I feel like she gave, she like, you know, she created her own stage, her own yardstick.

Speaker B:

That really resonates a lot with me that you don't need to follow something.

Speaker B:

You can create your own path in the way you want to do it with your background and your innovative way.

Speaker B:

I really love that.

Speaker A:

Priya Life in Full.

Speaker A:

That is a wonderful book.

Speaker A:

I'm so glad, glad you brought it up.

Speaker A:

It's such a great example of a, you know, beautifully actualized woman and you know, leading PepsiCo former CEO.

Speaker A:

It's, it's, it's a she, she made, she really made such a difference.

Speaker A:

She transformed PepsiCo and her leadership actually really it's the, it's that wisdom of women we're talking about.

Speaker A:

A new style of leadership is creating different changes, just what we need in this world today.

Speaker A:

So you decided to make a big leap out of the big corporate and create your own company and start this beautiful finteam one which has such a big vision.

Speaker A:

You mentioned before about your journey, the immigrant journey.

Speaker A:

Share with us how you got to this day and how your experience as an immigrant shaped you to where you are as a founder.

Speaker A:

What makes your journey specifically unique as you've gone through all that you have from India to here in the States.

Speaker B:

Yeah, so to be honest, a lot came from my upbringing.

Speaker B:

My dad was an entrepreneur truly in heart and spirit.

Speaker B:

So I think there's definitely that thread in me even through My professional journey, being in the finance and accounting world.

Speaker B:

When I came here, I never really thought I would start something on my own.

Speaker B:

I was like, okay, I mean, I'm going to be.

Speaker B:

I was in a global company, as you know, like before.

Speaker B:

And I was always like, oh, I work on this market, I work in this segment, this vertical and which business group do I work in?

Speaker B:

That was always a big part of me.

Speaker B:

I took a role at a startup as a cfo and I really saw firsthand the challenges of a finance organization.

Speaker B:

And having done large transformations at global organizations and going into a smaller company and really understanding like how they operate, like the, the, the information that they didn't have that they should have had, the processes and controls that we should be building, the people.

Speaker B:

And that's where I got the idea.

Speaker B:

I was inspired by taking what I've built, centers of excellence across the world and creating that framework for smaller companies because then they're more competitive and can't do it themselves.

Speaker B:

There's so much hesitation.

Speaker B:

The other option is they go to larger organizations.

Speaker B:

It's the service, it's the, the model.

Speaker B:

And it's always challenging because they can't pay that price.

Speaker B:

So it's really finding the right solution.

Speaker B:

To me, that was my starting point.

Speaker B:

But also I think of the next generation of where we are going as an industry with technology enabling us.

Speaker B:

It is a global platform for people.

Speaker B:

Like when you use, when you go to even ChatGPT, go to some of these, explore GPT.

Speaker B:

People have built these from different parts of the world.

Speaker B:

You don't even know where they are, but you leverage them here today.

Speaker B:

Think about that same kind of revolution for financial services.

Speaker B:

And that's really where I've been really thinking more and more up and which was where I got the whole idea.

Speaker B:

And that excites me to push myself every day to be innovative, to really provide financial services across borders and make sure that companies get what they want to get, irrespective of where the talent is.

Speaker B:

Kind of go and find the right talent for what they need at the right time, they'd be able to be successful.

Speaker B:

Like, you know, you know the metrics.

Speaker B:

If companies don't have financial transparency and visibility, they make decisions more emotionally without that information.

Speaker B:

And that's not right, like, because then you know that they're not in a successful path and they feel, you know, so really if I can help even 1% of our SMB market to make better decisions with the tools and more, you know, using financial data, I would feel accomplished so that's really the goal, to make sure that whatever decisions they make, they're using the right information at their fingertips to make those decisions.

Speaker A:

Well, I love that.

Speaker A:

Having worked with founders, having been a founder myself multiple times, I've come to really learn and appreciate the difference between a bookkeeper, an accountant, a controller and a cfo.

Speaker B:

Yes.

Speaker A:

Right.

Speaker A:

And maybe you want to say a little bit about that.

Speaker B:

Absolutely.

Speaker B:

And I, I will say something that is so funny because I always say you could have a Porsche and you could have a person who doesn't know how to drive it.

Speaker A:

Yes, yes.

Speaker A:

Right.

Speaker B:

So you would have this amazing thing which would be a company, but you don't have the right skill set to navigate that.

Speaker B:

Another example is a wrong marriage with a bookkeeper.

Speaker B:

Because a bookkeeper, if you think about it, it's really after the fact, you're kind of sending all the documents and saying, okay, go record this.

Speaker B:

I feel like they're not adding any value.

Speaker B:

Like they're basically doing everything.

Speaker B:

It's post mortem.

Speaker B:

Right.

Speaker B:

But you need information real time.

Speaker B:

You need more information upfront in order to make some futuristic decisions that impact your business or your company.

Speaker B:

And that's where the, you know, whether it's a controller, whether it's a cfo, like, you know, those roles really play a key role because they truly are your business partner.

Speaker B:

On the financial side, it's like, you know, you have a Chro or a CRO or a cmo.

Speaker B:

It's the same logic.

Speaker B:

You're having this.

Speaker B:

I think, like that's.

Speaker B:

Those are the two examples.

Speaker B:

And the next thing I'm going to say is I think people today are, they want to work in such a model that they are experts at certain things, but they don't want to do every single thing right.

Speaker B:

So even if you take like a fractional cfo, they want to do the most strategic, the value add type of work.

Speaker B:

They don't want to be your controller or a bookkeeper.

Speaker A:

Yeah.

Speaker B:

And that's where we are really, that distinction company, where we are really looking at what does a company really need.

Speaker B:

We kind of build your back office in order to support you.

Speaker B:

So we'll have an accountant, we'll have an FP and a person, we'll have a treasurer if required.

Speaker B:

Like, you know, we have the right skill set in order for companies to scale.

Speaker B:

And I think that's what will make us, it will make us distinct and different compared to like, you know, distinguish us compared to other companies, because it's not like we're we're not staff augmenting people.

Speaker B:

We're really looking at this model more like okay, it's a fractional service, but the right service for the right time.

Speaker B:

And then we take take the onus of ensuring it's all delivery based.

Speaker B:

So we will make sure that you have the information and the deliverables for each of these areas.

Speaker B:

So that's what's different.

Speaker A:

Great.

Speaker A:

So I've heard you talk a lot about financial leadership and redefining the CFO and what that means.

Speaker A:

Tell us why the future of finance is really female and also why it's human.

Speaker B:

I'll talk about female later, but more about human first.

Speaker B:

And I think because leadership, to be honest, no matter how much any technology comes, I know Gen, AI, AI, you know, whatever.

Speaker B:

Leaders are built based on scenarios and experience.

Speaker B:

So I look at three things.

Speaker B:

Education, exposure and experience.

Speaker B:

These three key things make someone human and a better leader.

Speaker B:

There could be productivity increases for people in certain areas and accelerate their exposure or even their education.

Speaker B:

But their experience and their background, I don't think technology will augment it immediately.

Speaker B:

And I think that that's one.

Speaker B:

And then also with all of these technology advancements, I don't think for finance we are there where we can hand over and just go online and say okay, do everything by itself.

Speaker B:

We're not there yet.

Speaker B:

We would to be there but we know we're not there because of the sensitivity in their data and a lot of other information.

Speaker B:

So I think that's where the human aspect is.

Speaker B:

And I feel like women, I think there's definitely a huge shift of women leaders more than leaders.

Speaker B:

I think women in finances now you, you see a lot more women creating funds, being involved in investing and understanding that somehow that was not the decades ago but now you see shift a lot more.

Speaker B:

In fact, I think how women lead like I think they did an article where in the next Generation will have 50 plus percentage of wealth transferring to women.

Speaker B:

So they are being more financially savvy.

Speaker B:

They are investing their time and effort to understand financial literacy.

Speaker B:

They know that they would be better managing them and they have and they will be managing this right.

Speaker B:

So there is a wealth transfer to more women now.

Speaker B:

So I think that aspect is helping.

Speaker B:

That's why understanding the bottom line is important.

Speaker B:

Making financial decisions is more important.

Speaker B:

Whereas before that was not the case.

Speaker A:

And so as you see this happening and women coming into more financial power, what are you seeing in terms of how women are coming into financial power and legacy and how they're breaking the molds I know you talk about money myths sometimes.

Speaker A:

Maybe you could share a little bit about that.

Speaker B:

So I think one is generational wealth that they have, like, if they inherited wealth as well.

Speaker B:

Right.

Speaker B:

They are taking it to the next level to make sure that what they have can grow and scale.

Speaker B:

I think their approach is very different compared to some of the other people.

Speaker B:

I see such a drastic shift.

Speaker B:

I was on a certain conference called Dealmakers a couple of years ago.

Speaker B:

I counted the number of women in that room, and there were no more than 10% in that room compared to, you know, and this year I think there was more than 40% to me.

Speaker B:

So, yeah, so that itself says.

Speaker B:

And they have a.

Speaker B:

They have a great way of showcasing.

Speaker B:

It's like one third practitioners, one third sponsors, and one third entrepreneurs and investors.

Speaker B:

So when you look at that pool and I'm like, okay, if I say in each category there was 30% more, that clearly showcases that women are in center stage.

Speaker B:

More.

Speaker B:

Right.

Speaker B:

In all categories, not just one area, because they're being providers, they're being, you know, you know, entrepreneurs.

Speaker B:

There's a whole rise in them as also investors and PE firms are, you know, have a lot more women.

Speaker B:

So I wouldn't say there's one area that they specialize in.

Speaker B:

I think they're in my, in my view, they require in all areas, because then you build that ecosystem like a trusted women network that they work with.

Speaker B:

It's like the buddy system, right?

Speaker B:

Like we like, oh, Coco, I need help.

Speaker B:

Like, you know, that's what we want to be able to build.

Speaker B:

And I think that only comes when they're in all areas, not just a few areas, because then it's.

Speaker B:

It's like, you know, you have a banker who's a woman, you know, you have the entrepreneur who can understand, and maybe they're all juggling their kids and stuff like that.

Speaker B:

They still can go for a walk and talk and close a deal instead of being on a golf course, for example.

Speaker B:

So I think you'll see a lot of those, A lot of, lot of people I hear about, like yoga classes, they do yoga together, you know, so you, you.

Speaker B:

You'll see the trend changing in var and not being, you know, in just a certain way.

Speaker A:

That's great.

Speaker A:

And so as.

Speaker A:

As you're seeing it, you know, or you and I are on the same page of promoting financial literacy and wealth creation for women.

Speaker A:

When you start working with entrepreneurs and they're getting their ducks in a row by using your services, what do you see as the big things that are holding them back because they don't have proper financial operations.

Speaker A:

What are the big things that you see they're glaring at?

Speaker A:

Boy, that's what we've got to help them with.

Speaker B:

I normally see they have this barrier in their mind about just accepting where they are financially.

Speaker B:

I always have to take a step back and say, okay, it doesn't matter.

Speaker B:

You just need to know where you are and where you want to go.

Speaker B:

That's how you can path away to scale up or be stagnant or whatever you want to do.

Speaker B:

But if you don't even know where you are, you know, you're kind of driving without knowing where the road takes you.

Speaker B:

You kind of want to be in charge when you're driving, right?

Speaker B:

Otherwise, that's when accidents happen.

Speaker B:

You had stress.

Speaker B:

You have all of these things.

Speaker B:

So I always say, think about your financial status.

Speaker B:

Whether it's personal or business, it's always know where you are and where you want to go, and always put in your guardrails, make sure your mirrors are working, make sure you can see the back and things like that.

Speaker B:

It's very simple.

Speaker B:

But I think people somehow, when it's finances, they are like, oh, my God, I don't know where I am.

Speaker B:

I've never done this.

Speaker B:

Like, I, you know, I think that's what I see most.

Speaker B:

Like, yeah, yeah, I think I see that most.

Speaker B:

And the other thing is they don't think it's worth their time to spend and do that.

Speaker B:

That's the other thing.

Speaker B:

I feel it.

Speaker B:

They're like, oh, no, no, no, it's not important.

Speaker B:

And I'm like, if you go to an investor, it's important.

Speaker B:

Everything you're going to tell is based on your finances.

Speaker B:

That's the story you need to spin all the time.

Speaker B:

So pay attention to it and spend the right amount of money.

Speaker B:

If you're anywhere between 3% to 7% of your cost is your finance and admin cost in order to manage your accounting operations.

Speaker B:

And you should constantly be evaluating.

Speaker B:

It doesn't matter if they're.

Speaker B:

They have someone like us do it.

Speaker B:

It's still an activity that needs to be done.

Speaker B:

Once you create an entity.

Speaker B:

Well, and I think it's for them to accept that.

Speaker A:

Well, and I think it's what you're saying is very deep, right?

Speaker A:

To accept where you are, to not live in denial to.

Speaker A:

To be when.

Speaker A:

When you're okay with where you are, whatever it is, you feel a lot better about taking a next step.

Speaker A:

But if you're totally resistant to where you Are right, you can't.

Speaker A:

Right, you really don't know.

Speaker A:

You really can't imagine what the right next step is because you don't even know where you are.

Speaker A:

And so how do you help companies get through what's the physical journey and what's the emotional journey for the team?

Speaker B:

The physical journey for the team is minimal.

Speaker B:

It's mostly the emotional.

Speaker B:

Trust me.

Speaker B:

It's really pulling teeth for them to give you information.

Speaker B:

The minute we sign a contract, you're our trusted partner.

Speaker B:

Like we are your trusted partner as well.

Speaker B:

So you need to give information in order for us to do our job better.

Speaker A:

Right.

Speaker A:

So you work with them and help them start getting a sense of where they are.

Speaker A:

And once you have a sense of where you are, how do you then help guide them on going somewhere new?

Speaker B:

So I never start.

Speaker B:

I always start them when I talk to them, even through the sales process.

Speaker B:

So I'm not going to be very proud of my sales process right now because it sucks.

Speaker B:

And I'll be honest, because I'm more emotionally vested for them to be successful versus how much can I take right now?

Speaker B:

So the way I approach it always is where do they want to be?

Speaker B:

And so to me, the numbers should tell us a story that how can they get there?

Speaker B:

When I see if the numbers are not able to say that story, that's when I start asking the questions.

Speaker B:

When we look at that with a holistic lens, then we are able to say, okay, we need to clean this.

Speaker B:

Sometimes there is a little bit of upfront investment for them to do because they've not done this for so long.

Speaker B:

Catching up and then putting in the right processes and tools for them.

Speaker B:

That takes a little bit of effort.

Speaker B:

Sometimes you'll see a lot of risk.

Speaker B:

Oh, we don't need that.

Speaker B:

We're too small.

Speaker B:

And I'm like, no, you do.

Speaker B:

Because if you want to go where you are, it's just like how people tell you when you're manifesting, right?

Speaker B:

Like they'll be like, oh, think you're already there and start acting like that.

Speaker B:

If you want to go there, you got to have everything structured and a framework in place so you can scale and grow.

Speaker B:

But if you don't invest and do it right, then you're going to grow and then you're going to have all this pain and you're going to be like, you know, I feel like the change management to me is the biggest thing when I talk to people.

Speaker B:

It's like hand holding, emotionally working with them and letting go of their bad Habits.

Speaker B:

They won't have receipts, they won't do stuff and say, okay, you know, write up a simple one pager and just say, everybody needs to follow this, or tell your vendors this is what you need to do.

Speaker B:

I just feel like people are not like, they're like, oh, that's my friend.

Speaker B:

I just work with them and it's fine.

Speaker B:

But you can still have a policy.

Speaker B:

It doesn't hurt to.

Speaker B:

So things like that, I find, especially smaller companies, but when you go home, it's a little bit better, but also quite challenging, I would say.

Speaker B:

Mostly it's because they've done certain things in a certain manner and they've probably plateaued and they want to go to the next level and they have to really invest.

Speaker B:

They have to assess first and then reevaluate and then, you know, go.

Speaker B:

And again, I always say, okay, where do you want to be?

Speaker B:

Because that really sets the stage of how do we get you there.

Speaker A:

Right, right.

Speaker A:

And so it's not bookkeeping.

Speaker A:

Right.

Speaker A:

You're helping.

Speaker A:

So you, you're helping them cast the idea of what that forecast might be.

Speaker B:

Exactly.

Speaker A:

So here's how we're going to grow.

Speaker A:

How much you're going to grow next year and how much is that next first quarter, second quarter, third quarter.

Speaker A:

Right, Exactly.

Speaker A:

You're going to spend more in marketing.

Speaker A:

Right.

Speaker A:

How are you going to do that?

Speaker A:

Or you need to add a salesperson.

Speaker A:

Right.

Speaker A:

To build that out.

Speaker B:

Exactly.

Speaker B:

So, for example, if they want to exit in five years and say, great, these are the things you need to have.

Speaker B:

There are five key things.

Speaker B:

Make sure your EBITDA is 15%, simple things, and say, okay, if we model that and if you want to exit, then let's go back and say, where are you today?

Speaker B:

And kind of build a map of how to get there.

Speaker B:

What do you need?

Speaker B:

Do you have excess baggage you need to cut off?

Speaker B:

What do you need to do?

Speaker B:

Look at the, the business risk overall and support them.

Speaker B:

Sometimes they're ready to hear it, and most of the time they're not.

Speaker B:

It's really looking at their key objective, saying, year one, this is what you want to do.

Speaker B:

Year two, you want to do this and kind of, you know, help them get there.

Speaker B:

Sometimes it's hard for especially entrepreneurs to hear it because they're so emotionally vested and they've always made decisions emotionally.

Speaker B:

They're like, I know, I know this is going to work.

Speaker B:

I'm like, I'm sure you know it's going to work.

Speaker B:

I'm just putting it in numbers and showing you how it works?

Speaker A:

Well, it is very powerful when you have the data in front of you and you can use it.

Speaker A:

It can be all sorts of numbers, whether it's your costs or your gross profit.

Speaker A:

Be able to compare it to what's happening in your industry and get a sense.

Speaker A:

So when you're talking with a founder, you're helping them grow, you're helping them increase their value.

Speaker A:

Right.

Speaker A:

As a, as a, as a company, you're helping them figure out to do with any equity, additional cash.

Speaker A:

Right.

Speaker A:

Whether they're going to reinvest it or pay them out.

Speaker A:

Talk through some of these things that you help people.

Speaker A:

Yes.

Speaker A:

Strategies through.

Speaker B:

So it really depends on like I always go, it's, it's not a one size fits all because it's such a personalized thing for a business.

Speaker B:

It has to be aligned with the business objective.

Speaker B:

Let's say they have debt, they want to pay down debt, then we say, okay, let's, that's an objective.

Speaker B:

Right?

Speaker B:

And let's say they want to, you know, get more equity, then that's an objective.

Speaker B:

There are different criteria we have to look at and then say, okay, what makes sense for you?

Speaker B:

What is realistic for us to achieve?

Speaker B:

What is our stretch goal that we want to do?

Speaker B:

How much do you want to really push?

Speaker B:

And I do love to work with companies that want to scale because that just puts me in this energy where I'm like, oh wow, this is what we want to do.

Speaker B:

Let's go do it.

Speaker B:

So I think that's where you get creative.

Speaker B:

You help them, them cautiously.

Speaker B:

You don't want them to take a huge risk where they have no return, but you want them to take cautiously risks where they do see return.

Speaker B:

But we mitigate the risks in certain ways.

Speaker B:

So I would say there are ways that every company we have to evaluate based on who's the equity partner.

Speaker B:

Are they planning to do an M and A, Are they planning to acquire a business?

Speaker B:

Are they planning to sell off their business or part of their business?

Speaker B:

Are they divesting their entire portfolio and really, you know, being more strategic in where they want to be.

Speaker B:

So there are so many different areas you, you can look at.

Speaker B:

And also some of the things I always look at when I look at companies is their service or product lines and look at, okay, can you do profitability by just certain segments?

Speaker B:

And then that way you can understand what that segment is really producing for you as a company.

Speaker B:

Like what's your gross margin?

Speaker B:

And do we have to calculate a net margin based on discounts?

Speaker B:

Just for that product and, and that way that gives them idea and saying, oh my God, like why am I spending so much on R and D when I'm getting nothing?

Speaker B:

You know, I product which is my most profitable product and I have a great go to market strategy for that.

Speaker B:

So things like that is where it adds value and it, it sometimes, you know, all of these things I say, I, I'm, I'm a total geeky geek and I love numbers and I will tell you that.

Speaker B:

But I also have realized that numbers only make sense when you're talking to the person.

Speaker B:

Like if you give me stuff and you ask me to read the trend, I will just glow and be my own glory.

Speaker B:

But that's not how everybody is.

Speaker B:

I have to work with leaders and owners and entrepreneurs who have a certain type of Persona and, and so it's always like, okay, understanding the personality behind it and then saying what is important for them, what is important for the company.

Speaker B:

There's a lot more emotional aspect we have to uncover and say, we understood you created this, it's your product.

Speaker B:

But if you break out the company into these segments, this is how the numbers would look.

Speaker B:

Where would you want to invest your time and energy in this?

Speaker B:

I really look at it in that way because it has to be personal to the leaders also.

Speaker B:

It should be for the company as well.

Speaker B:

We have to understand the dynamics of that in order to be a good.

Speaker B:

So I mean, think of me the way you would hire a finance person within your environment.

Speaker B:

Right.

Speaker B:

You look at your corporate culture and then say, okay, is this a right fit for us?

Speaker B:

I feel like that's what I do in order to address the problem for them and saying, okay, this is their corporate culture, this is their leader.

Speaker B:

What should we provide to them as a solution?

Speaker A:

Love it.

Speaker B:

It's a very reverse psychology mechanism that we are building.

Speaker A:

That's great.

Speaker A:

It makes sense that you have to meet people where they are.

Speaker A:

I've experienced that with where you start to with have any kind of dashboard.

Speaker A:

Teams that aren't used to numbers will start to feel a sense of judgment or blame or vulnerability when it comes to those numbers.

Speaker A:

I'm curious if you've ever had this experience maybe you could share where you finally get the team to look at numbers and collect numbers over time.

Speaker A:

And then there's this moment where what they assumed isn't true and suddenly the numbers tell a different story.

Speaker A:

And finally they can see it clearly.

Speaker A:

I used to see it all the time with our marketing and with our recruiting.

Speaker A:

Do you have any experiences like that.

Speaker B:

Absolutely.

Speaker B:

I think when they give you assumptions, for example, when you're trying to work with them and they have to give you some assumptions, they'll think that these assumptions won't push the needle that much.

Speaker B:

And I'm like, no, no, no, know, let's just have it.

Speaker B:

And then what would you want to rate it?

Speaker B:

How would you consider it?

Speaker B:

And then, you know, like it's just these smaller things that they don't think it's important will be big decision factors.

Speaker A:

Right.

Speaker B:

And they can see almost 30 to 40% swing in the way the numbers look.

Speaker A:

Yes.

Speaker B:

And it's sometimes quantitative, but most of the time if is these qualitative factors that they haven't really considered that move the needle drastically for them.

Speaker A:

Yes, yes, yes, yes.

Speaker B:

And it depends obviously for every industry we have to go in and it's a scenario based aspect.

Speaker B:

That's why I take a look at it more holistically for them and say, tell me more.

Speaker B:

And I'm a really curious person.

Speaker B:

That helps when I ask all these questions and I'm like, have you considered about this?

Speaker B:

How do you factor this in your business?

Speaker B:

What do you do here?

Speaker B:

When we look at all of that and add in criteria like let's say we're building a revenue model and then we're saying, okay, what about this product line?

Speaker B:

Do you think in two years you're going to have this?

Speaker B:

How much team capacity can your product?

Speaker B:

Are we going to add more resources here?

Speaker B:

And when you ask them those questions, sometimes they're like, oh, we're fine here, but I think we can do here.

Speaker B:

And that's when they haven't really thought through that.

Speaker B:

Sometimes you're asking them these questions when you're modeling and saying, okay, and they're like, oh, we need to figure it out, let me call this guy.

Speaker B:

And then there's another person who's on the call, you know, and so I think, and most of the time when they rely on other people's input for us to build a financial model, I really feel we've done a great job because that's really critical for us looking at the company holistically and all the factors we put in.

Speaker B:

And when, even if it's a assumption, the assumption can be bad.

Speaker B:

But even having an assumption, even if it's a bad assumption, is better for me than not having an assumption.

Speaker B:

Because that clearly articulates that we are considering criterias that are outside of the nodal area.

Speaker B:

And that really helps us to say, okay, you know what, it was a Bad assumption.

Speaker B:

Okay, let's take it out.

Speaker A:

So now we can improve the assumption.

Speaker B:

Exactly.

Speaker A:

And I think about it, I'm more in the marketing and sales.

Speaker A:

That side is where I also look at my financial.

Speaker A:

But you can see it in I think about it.

Speaker A:

I'll tell you a story.

Speaker A:

We were at Illume and early on, you know, we were not profitable.

Speaker A:

And so we had a certain amount of cash every month.

Speaker A:

You're making sure you don't spend more cash than you're planning for because you only have so much cash before you run out.

Speaker A:

And then you need to either be profitable or you need to find another source of cash.

Speaker A:

Right, right.

Speaker A:

The difference for us was it was complicated to bill in our healthcare system.

Speaker A:

You had to do a whole bunch of things before you could bill.

Speaker A:

And so you had to get doctor's orders signed and you had to get documentation done and you had to have these specific paperwork if you didn't have the system to get those doctor's orders signed, actually changed us from being able to get paid.

Speaker A:

We were getting paid in like 90 days versus we brought it down to like 28 days.

Speaker A:

It was by focusing on this one thing of how do we get the doctors to sign the orders faster?

Speaker A:

Is it the doctor that's slow or we're just not getting it out fast enough?

Speaker A:

Are we not checking it fast enough?

Speaker A:

So it's these little things that you wouldn't think would make such a difference.

Speaker A:

But then if I have a whole other 45 days of cash or 60 days of cash, I don't need cash as soon my Runway to break even.

Speaker A:

So these are the things that you must see all the time, right?

Speaker B:

Yeah.

Speaker B:

And you know, I know you talked about the doctors and stuff like that.

Speaker B:

So biotech, for example, most of them doing R and D.

Speaker B:

Yes.

Speaker B:

They're very cash intensive.

Speaker B:

A burn rate is very important for them because they are either funding it or they have investors or there's a grant or you know, there's multiple ways where they have the money and they're trying to get into their next phase.

Speaker B:

And so critical for them to understand what their, you know, what is really their burn rate every month, where can they reduce, how do they look at it in six months and evaluate a 13 week cash flow forecast?

Speaker B:

These are things they probably haven't disciplined to be able to manage that.

Speaker B:

But then, you know, you know that's where we add value right away for that them.

Speaker A:

Yes, yes.

Speaker A:

And also sometimes you, you kind of look at it and sometimes you need to, you, you need to finance, I need a cfo.

Speaker A:

When you're growing, have a certain amount of cash and a strategy that is working, but how much should you spend and how fast should you grow?

Speaker A:

And so these are just.

Speaker A:

My gut says one thing, but numbers tell a different story.

Speaker A:

Right?

Speaker B:

Yeah.

Speaker B:

And also I know people think CFOs are only there to restrict spending.

Speaker B:

That's not the case at all.

Speaker B:

Because a lot of them say, oh, our fractional CFO said this.

Speaker B:

And I'm like, no.

Speaker B:

Their job is one fiduciary responsibility to ensure that the company is performing at the best level financially as well.

Speaker B:

But also they are an amazing partner to the company.

Speaker B:

In order for them to scale, they're really that strategic partner to enable you to, to scale successfully on the financial front, to make investors, make you look great in front of investors, to have the right set of guardrails.

Speaker B:

What do they look for?

Speaker B:

How should we, you know, ensure they're really your, I would say like a financial marketer for your company, you know, because they're looking at every aspect of the organization before it goes external, cleaning up, supporting everyone in order for them to be able to go to external people to evaluate and ask the exact same questions again.

Speaker A:

Right, exactly.

Speaker A:

Well, I think that's such a distinction that you made, Priya, that if all they're doing is looking at the past and telling you what you can't spend, then you don't really have a cfo.

Speaker A:

A CFO is helping you solve your challenges of growth, cash flow, funding and you know, so that's a big distinction.

Speaker A:

There should be a person who can help you figure out how to get to where you know, not tell you what you can and cannot do.

Speaker B:

Exactly.

Speaker A:

So Priya, as we move towards close here, what is a final word of wisdom that you would like to offer to women founders leading and growing visionary companies?

Speaker A:

Race.

Speaker B:

For me, I would say like every company, every business, no matter how small or how big, they really deserve to have financial clarity.

Speaker B:

You always should have financial clarity no matter what.

Speaker B:

And I think having the financial clarity, strategic insight and the tools for you to scale.

Speaker B:

But whatever you decide as a company objective, you should be confident with that, not be stressed, oh, I'm going to do this or not.

Speaker B:

I think that's the message I want world to take away.

Speaker B:

When you create a company, you have a financial obligation.

Speaker B:

You have to think of that as an entrepreneur.

Speaker B:

When you think of creating a company, not an idea to a company, you take on that financial responsibility, the compliance responsibility of being an entity.

Speaker B:

So to Me at that stage wear this hat as well as a responsibility.

Speaker B:

And I think when you do that, that's really a key message for people.

Speaker B:

I really believe that finance is not just about numbers.

Speaker B:

It's really about empower you to tell your story in the right way.

Speaker A:

Yes, yes.

Speaker B:

Using numbers.

Speaker B:

It's giving entrepreneurs, especially women and minority founders, that empowerment to use their company and share the story financially.

Speaker A:

Beautiful.

Speaker A:

I love that.

Speaker B:

And, and, and I think that has so I mean I can go on and on and on but really my vision is to revolutionize the way we scale SMBs to bring them the gap between operational chaos and just strategy with clarity.

Speaker B:

And I think so many leaders, as you can see, they rise boldly and they have created lasting legacies.

Speaker B:

It's really through financial and accounting to be honest, one on one.

Speaker B:

Once you understand that and you know what you need to do, it just makes it super easy for you.

Speaker B:

That's really the core of what I want to leave behind.

Speaker B:

And even finteam won as a company.

Speaker A:

Oh, I love it.

Speaker A:

And I was looking at your website and you have a very inspiring description for your vision.

Speaker A:

Let's see talks about.

Speaker A:

I'm getting my notes here.

Speaker A:

Where is it?

Speaker A:

Finteam 1.

Speaker A:

Where is it?

Speaker A:

Vision is to transform the financial landscape for businesses of all sizes and bring the future of managed financial services to small to medium sized companies.

Speaker A:

Our mission is to empower businesses with the appropriate financial tools and expertise needed so they can perform wonders.

Speaker A:

Right.

Speaker A:

So that's what we're all here to do, is to perform wonders.

Speaker A:

And so how can listeners find your company?

Speaker A:

What's the best way to get in touch?

Speaker A:

How, how is the best way for them to experience the services of your company?

Speaker B:

So the best way to reach us is going on.

Speaker B:

Our website is www.finTeam.1.

Speaker B:

It is o n e not.com if you go to contact us and send us an email, it'll come to our team and we'll be happy to get in touch with you and support you guys.

Speaker A:

Wonderful.

Speaker A:

Wonderful.

Speaker A:

So helping you get your financial clarity in place so that you can work wonders.

Speaker A:

So thank you Priya.

Speaker A:

It's such a nice time to be with you.

Speaker A:

Thank you for joining us on the Wisdom of Women show and to all you trailblazing ladies and allies out there, please be sure to like, follow and share on the the Wisdom of Women show on whatever your favorite listening or viewing platform platform is.

Speaker A:

And don't forget to infuse more wisdom into your business.

Speaker A:

Take the Growth Readiness quiz at a Forceforgood biz quiz and uncover where your insight is needed most in your company.

Speaker A:

The world is made better by women led business.

Speaker A:

So let's all go make the world a better place.

Speaker B:

Thank you, thank you, thank you, Coco.