Our Guest Mentors:
Brad Eisenhuth is a genuine global thought-leader in the accounting and finance profession, continuing to attract world-class businesses to work with his team in raising the performance of their finance function. He is founder & CEO of The Outperformer, a multi-award winning performance advisory, training and consulting group dedicated to the accounting and finance profession. His business and team has developed innovative programs to reshape and raise the level of performance of finance teams, resulting in huge gains and benefits to the organisations that have partnered with them.
For their work with companies like PepsiCo, Mirvac, Subaru, The University of Sydney, GenesisCare, Westpac and others, they won Education & Training Program of the Year in 2018 at the Young Leaders in Finance Awards, and are currently Finalist for Professional Development Program of Year in the Australian Accounting Awards.
The Outperformer’s work typically focuses around the areas of innovation, business partnership & value creation, change leadership, financial & business modelling and visual influence. But unlike most businesses like theirs, they actually get in the trenches with their clients and to see the change they need happen, hence their success to date.
Brad is also is a published author of CFgrOw: Staying in the driver’s seat on the path to CFO where he’s analysed the career success and progression of ambitious accounting and finance professionals, discovering those factors that differentiate the best from the rest.
As you might expect, he is often quoted in publications on the Future of Work and the finance profession. Here are some examples that are worth reviewing: Humans are Irreplaceable: https://www.smh.com.au/business/workplace/humans-have-an-irreplaceable-role-in-business-20190513-p51mpr.html
The skills you need to survive in the workplace of the future: https://www.smartcompany.com.au/people-human-resources/robophobia-skills-workplace-future/
Key Quotes From the Episode:
“[On finance transformation] When it comes to Finance we can talk about data, we can talk about systems, we can talk about projects until the cows come home, but people are the instigators, the drivers and the architects of these solutions.” [06:28]
“[On mapping your stakeholder landscape] What are the strategic objectives or your stakeholders, and what are the more tactical and short term pressures that get in the way of them achieving those strategic goals.” [14:27]
“[On leader’s role] Whether supporting a large or small business the team needs the space to change and it is the leader’s job to clear it.” [32:19]
(Other resources and how to connect with Brad below).
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Key Points From the Episode:
Brad explores with Andy:
· The dynamics of performance change of a finance function, and the challenges of change.
· Navigating the challenge of being busy and under pressure, while attempting to innovate and raise the performance of your function.
· The misconception of the ‘band-aid’ education solutions that leaders are used to using, but not working in the modern and ever-changing business context
· Enablement vs Value Creation (where many accounting and finance professionals can get confused).
Time Stamped Show Notes
[03:10] – Brad shares what’s on the minds of finance leaders following the success of his profession’s first world virtual finance summit.
· Business partnering
· Accuracy & Timeliness
· Technology, Humanity & Talent
· Having a fantastic career in finance
[07:15] – The types of questions coming back from the summit’s audience and where the engagement is coming from, and the biggest challenge and question that kept coming up (belief system too busy timeframe).
[11:38] – The importance of having an awareness of culture and installing the infrastructure to achieve having a bigger seat at the table to help the business succeed. But little planning goes into this, ask what is your process and structure, or inputting an invoice, always a process, and no one puts in a process into how we impact our business and build that infrastructure.
[13:50] – 3 steps in building a stakeholder-centric approach.
· Knowing the stakeholder landscape
· Letting Go
[19:50] – The importance of measuring the value of what the finance team is contributing and how to do this.
[24:24] – Why some finance professionals are still fearful to move to engaging with stakeholders and are not quite ready.
[26:38] – The problem with the band-aid (two-day course) approach.
[31:04] – The skills that need to be imported into Finance (i.e. inserting data science).
[32:25] – Some recent work Brad has been doing with smaller practices that consult to small businesses and how they can step up the value change from transactional tax and accounting services to value added ones.
[35:25] – Brad’s parting thoughts on knowledge obesity, and as a leader, it’s not the challenge in knowing what we ‘must’ do, it’s more in the how and navigating the obstacles in the way of us achieving it.
Connect with today’s guest: · LinkedIn Profile: https://www.linkedin.com/in/bradeisenhuth/ · Email: firstname.lastname@example.org · Website: https://www.theoutperformer.co/
Free Download from The Outperformer:
A Non-Finance Lens – Finance Business Partnership Report: https://www.theoutperformer.co/download-2018-fbp-report-a-non-finance-lens Change Leadership Self-Audit Tool: https://www.theoutperformer.co/change-leadership-in-finance-self-audit-tool