Latest / The Diary of a CFO / Non-Traditional Pathways to the CFO Seat, with Axile Talout

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Non-Traditional Pathways to the CFO Seat, with Axile Talout · The Diary of a CFO

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Today's episode is brought to you by Inside Software,
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that's Insightsoftware .com slash reporting.
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I will drop the link in the show notes. Back
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to the episode. Welcome back to the Diary of
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a CFO podcast. The podcast where finance leaders
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share the lessons, challenges, and wins that
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shape their careers as well as their organizations.
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I'm your host, Waseea Kamane, and today I'm super
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delighted to have with me Axel Talou. Axel is
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a seasoned finance executive with nearly two
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decades of experience in banking, private equity,
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and finance. As a strategic CFO at a rapidly
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scaling e -commerce brand, Axel bridges the gap
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between vision and execution, helping companies
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think bigger and scale smarter. is also the founder
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of the CFO Effect, a vibrant community helping
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finance leaders position their finance team as
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a strategic partner. Welcome to the show, Axel.
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Thank you, Osea. Thank you for the invitation.
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I'm so excited to be part of this show. I am
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one of your listeners, so I'm glad that I get
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to be one of your guests today. Awesome. Awesome.
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I'm also excited to have you on because I love
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your challenging and sometimes controversial
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posts on LinkedIn. So before we get into that,
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why don't you tell us about your journey and
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the story that you find yourself now as CFO,
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knowing that you didn't start in corporate finance.
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So it all started when I watched an episode of
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Dragon's Den, which is the equivalent of Shark
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Tank here in Canada. and I saw the founders of
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Transformer Table pitch their product. So something
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immediately clicked. I felt inspired by their
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passion and vision. And at that time I was a
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banker and these were exactly the kind of entrepreneurs
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that I wanted to finance. So we met and we instantly
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connected. The good news is they were looking
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for financing. So they were looking to increase
2:25
their financing actually. So I crafted a tailored
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financing proposal that perfectly matched their
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needs. And I thought it was a done deal. But
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instead, they rejected my offer, surprising me
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with a counter offer to join their team as chief
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strategy officer, not a CFO at that point at
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that time. And to be honest, like I never seriously
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considered leaving banking, I had previous offers
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from clients, but It didn't excite me because
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those businesses were weren't growth oriented.
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They were lifestyle businesses focused mainly
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on dividends. But Transformer Table was different.
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Their ambition to scale to a billion dollar company
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deeply resonated with me. So I took the leap
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of faith and decided to join the company. And
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it was my first time working for a small business.
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I always worked for big corporations. So. two
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weeks in and they handed me the responsibility
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for the finance department and said hey do you
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want to build our finance department and at that
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time the business was pretty small so it was
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25 million dollar revenue and they had eight
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people in the finance department which in my
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opinion was far too many people especially given
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the inefficiency of that department it's crazy
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but it took 45 to 60 days to close the books
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And the data was unreliable and constantly changing.
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So it was like driving a car, but looking at
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the rear view mirror. On my side, I'd never been
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a CFO, and I knew that would be a big challenge,
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but I had a clear vision. And my vision was that
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the finest department should be the intelligence
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hub of the company where we gather data in the
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most accurate way and the most reliable way.
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And we transform that data into insights. So
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we help other departments take better decision
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or at least more informed decision. And to execute
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on that vision, I simplified my strategy around
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three levers. So people, skills and systems.
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First, I hired a corporate controller and The
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point of that was to anchor the team around a
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solid, seasoned professional and immediately
4:46
creating a talent flywheel, where when you hire
4:50
talent, it attracts other talent. The second
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lever was skills, upgrading skills, not just
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hiring data entry staff, but analytical thinkers
4:59
capable of spotting anomalies and driving real
5:02
value. Finally, we revamped our systems. And
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when I talk about system, most people think I
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am talking about the ERP system, but systems,
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in my view, is not only the ERP. Yes, we've implemented
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a new ERP system, a new FPNA tool so that we
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could... spend more time analyzing data instead
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of filtering and cleaning data, but it also processes
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and reviewing your chart of account and designing
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that into a strategic chart of account and having
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internal controls to make sure that the processes
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are followed by the rest of the company because
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your systems, I mean your software is only as
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good as the people using it. Fast forward three
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and a half years later, we have quadrupled in
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revenue. We have increased the number of products
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that we have. We have more channels. We're in
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multiple countries right now. So we've increased
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the. complexity of the business, but we kept
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the same number of people. So we still eight
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in the finance department and we close not in
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60 days like we used to, but in only five days.
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And that has been eight that and we have been
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able to do this and to absorb this growth and
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complexity just by improving the processes, bring
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the right kind of people and having automation
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embedded in the finance department. But Most
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importantly for me is that finance evolved from
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an overlooked back office function to the strategic
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core of our business, where now we have people
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proactively seeking our insights and asking us,
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what does finance think about this? Can we build
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a model to validate this? Which is something
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that never happened before. And this shows me
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that it is possible when finance plays a the
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role of the strategic partner that finance becomes
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an invaluable player at the heart of value creation.
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So when you started, you started as chief strategic
7:16
officer. So at which point did you become CFO?
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Was it after those two weeks? Was it after you
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actually revamped the team? When did you officially
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become a CFO and how were you still also handling
7:30
strategy? Yeah, so I'm still handling strategy
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and the CFO role. And what we did is that we
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mixed them together because the CFO role is also
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a strategic role or they have a role to play
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in the strategy. It was after two weeks, really
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after they said, yeah, they said, hey, by the
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way, like, we want to improve our finance department.
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Do you want a? build the finance department from
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scratch. And I was like, okay, I'm on to the
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challenge. Oh, wow. Okay. So when you came in
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at this high growth stage company, what made
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your investment banking and P background the
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right fit for them? Because initially, they had
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you a strategy. But what do you think helped
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them say you can also ramp up the finance department
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and take over that? Yeah, so You know, people
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often lump banking and private equity together,
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but the truth is they're fundamentally different
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lenses. When you look at the business from a
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banker perspective, you focus heavily on cash
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flows, which is great. OK, but your goal is to
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ensure that business generate enough cash to
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repay its debt. The mindset. is protective and
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risk focused. But private equity looks beyond
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just debt repayment. You're constantly thinking,
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how can we increase the value of this business
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so we can eventually exit at much higher multiple
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down the road? Bringing this dual perspective
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to Transformer Table was crucial in my opinion.
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Thank you, Glens, gave me discipline around cash
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flow management, working capital optimization
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and financial rigor to ensure that we maintain
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a strong, healthy balance sheet. But the private
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equity mindset pushed me and my team to consistently
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ask, how can finance proactively help other departments
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identify opportunities to capture more value?
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How can we enhance profitability, efficiency
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and strategic growth? So together, These two
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perspectives help transform a table, not just
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grow rapidly, but also sustainably, which today
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make like we have a clean balance sheet, healthy
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cash flows and the financial strength to fund
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our ambitions, future plan, because you might
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want to be a billion dollar company. And then
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we all want to go there. And I mean, me, some
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people are already there, but. That's where we
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want to go. But if you don't have the means for
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your ambitions, that becomes only a wishful thinking.
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Right. The balance between casual discipline
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and strategic value creation is exactly what
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I think that dual background was instrumental
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to our success as a company. And now now that
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you are in the role, you mentioned that the way
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you. organize your team was ve because you hired
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first a I think is brilliant becaus don't realize
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how much t important to the CFO. W for example,
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but if you're correct, there goes your that you
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were never a con You know, like a lot of people
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do the mistake that they want to hire people
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who, you know, are similar to them. The way I
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look at things is I wanted to hire people who
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would complement my skills. And as you said,
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I've never been a controller and I don't know,
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you know, what they do. But what I know is your
11:07
hand, right hand is the controller and everything
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starts at the data level. So if your accounting
11:14
is wrong, Everything else is wrong. Forget about
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your FPNA. Forget about anything else. Like it
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does not matter because garbage in, garbage out.
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And I know it's cliche to say that, but this
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is the most important rule of finance. You know,
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like if you start with the wrong data, your output
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is going to be wrong. Same thing with your model.
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You know, your financial model. How I identify
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the controller for me, it was important that
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first of all, What's important for me is leadership.
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Okay. So what kind of leadership do you bring
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to the team? I wanted somebody who is going to
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grow the team, nurture the team, and then have
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them go to the next level because we're bringing
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talented people, skilled people, and I don't
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want them to feel like they are numbers. You
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know, I want them to grow in their role and to
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learn from somebody who has been there, done
12:05
that, and has an experience that they want to
12:08
share. So that was the first and the most important
12:11
factor in my you know, research. And then obviously,
12:15
the second one, I wanted somebody who's been
12:17
there done that I didn't want to be the guinea
12:19
pig of somebody else, you know, and why I was
12:23
already a CFO trying, you know, so I didn't need
12:26
somebody else to do the same thing. And the person
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that I hired is still with us. And he did an
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amazing job. Seriously, he built a strong team.
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And he's very caring with his team. That was
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instrumental in how finance has been able to
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increase credibility because going back to that
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data, if your data is wrong, nothing would affect
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the credibility of finance department. If you
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bring in data and then the next day you come
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up with a different data and the next day you
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come up with another set of data, so that would
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ruin the credibility of finance and data is our
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gold in finance. Oh, yeah. Oh, yeah. Definitely.
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And I like how you said it's good to find people
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that are not just similar to you, but they can
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really complement you in making the whole function
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better. So my question for you now in how you
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bring your whole team together is, especially
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now that you guys still close in five days, how
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would you describe how you bring people in and
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get them into that culture? Because sometimes
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it can be repetitive, sometimes it can be overwhelming.
13:38
How do you keep your staff engaged and still
13:41
excited to do the work? There's no secret, to
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be honest. So it's intrinsic. So you pick the
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right kind of people. So people who have that
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passion, who have that willingness to learn and
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grow are the ones who are going to continue doing
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a good job over the long run. OK, that's the
14:03
first thing. So. Find the right kind of people
14:06
when it comes to the growth mindset. And this
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is the thing that I'm looking for when I, you
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know, interview people. I don't care, like if
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you did it before for some some roles like at
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the junior level, I don't care about your skills.
14:21
What I care about is your attitude and your growth
14:24
mindset. And are you willing, you know, to grow,
14:26
to evolve, especially in a fast growing company
14:29
in a fast growing environment? So that's the
14:31
first thing. The second thing is to understand
14:35
the goals of each and every person in your team.
14:38
These are not numbers. These are people with
14:41
aspirations, with goals. So how can we align
14:45
the goal of that person with the goal of the
14:49
company? And this is where you find the best
14:52
synergies, where one plus one does not create
14:54
two, but three, four, five, you know? So this
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is what I like to do with the people. want to
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know them. I want to know, you know, what makes
15:02
them thrive and what inspires them. So that's
15:07
on, you know, more of the leadership level and,
15:10
you know, hiring level, I would say. And what
15:13
we do every month, I have what I call the the
15:17
value pyramid. OK, the finest value pyramid.
15:20
I came up with this name. It's not a real name,
15:22
but what it is, it shows them. Like, how do we
15:26
go from reporting, which is the base of the pyramid,
15:30
again, going back to the data and the importance
15:32
of the accounting to the top of the pyramid,
15:35
which is influencing strategy. And there are
15:38
multiple layers. And we discussed this with the
15:41
team. How are we doing when it comes to the value
15:45
pyramid? Are we in the reporting? Are we in this
15:48
space? And it is an iterative circle where it's
15:52
not like, hey, you build that base and you're
15:55
good to go because even when you clean the data,
15:58
even when you have the right information coming
16:01
into your system, it's consistently you need
16:04
to protect that integrity. You need to make sure
16:08
that. You know, the new people coming in, in
16:11
the company, not only your department, because
16:14
the data is flowing from the different departments,
16:17
but you need to make sure that everybody is following
16:20
the processes, that you still understand the
16:23
data, you still understand where it's coming
16:24
from and its meaning, especially in a fast growing
16:28
company, because we're adding new products, new
16:31
channel, new market. So how are... our partners
16:35
internally, you know, bringing in the data and
16:38
how are we, you know, transforming, cleaning
16:40
this data and then converting it into insights
16:42
for the rest of the company. So this is something
16:46
that I spend a lot of time discussing with my
16:49
team and explaining to them what is the value
16:52
that finance brings to the table. So I make sure
16:55
that my vision is clear and that we're all rowing
16:58
in the same direction and at the same speed.
17:01
Now let's take a quick break to talk about a
17:03
problem most finance teams face. You spend hours
17:06
wrestling with data from different systems, building
17:08
reports manually, and by the time you are done,
17:11
the insights are already outdated. That's where
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October to register and transform how your finance
17:46
team operates. I'll also drop the link in the
17:49
show note. Love it. Now I want to hear all the
17:52
component of that pyramid. Like how did you came
17:54
up with it? What are the different components?
17:56
So, you know, for our listeners and viewers,
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how can I also bring it to their companies? Okay.
18:02
So that's a good question. I did not come up
18:04
with that pyramid. Okay. So I, I followed the
18:08
secret CFO or CFO secrets. I don't know. Secret
18:12
CFO. Yes. I want to pay tribute to the person
18:15
who shared this pyramid and it's Andrew Lynch.
18:18
on Twitter. So the base of the pyramid is transaction
18:22
processing. Okay, so how are you bringing your
18:25
APs and your AR? And then it's reporting, budgeting
18:29
and forecasting, analysis and insight and strategy
18:33
at the top of the pyramid. But you can't influence
18:37
strategy if you have, you know, a bad transaction
18:40
and processing because that means that your reporting
18:43
is wrong and you cannot have a good budgeting
18:45
and forecasting if your data is wrong. So it
18:48
all flows naturally towards the top of the pyramid
18:52
and it also helps the create a flywheel for the
18:57
finance department where you inspire trust because
19:02
your data is consistent and clean. I'm traumatized
19:07
by that because when I joined the data was not
19:10
clean and was not, you know, you cannot trust
19:12
the data. Oh, you're not the only one. Trust
19:15
me. One of my first episode on this podcast was
19:19
what they don't tell you about being a CFO, right?
19:22
So curious to hear from you. What are some of
19:25
the things besides, you know, coming in and having
19:28
challenged the data, what are the things that
19:30
caught you by surprise or that you had to figure
19:32
out very fast once you stepped in the CFO role?
19:35
When I stepped into the CFO seat, what I had
19:38
to learn fast was that finance isn't primarily
19:42
about numbers. And I know I spoke a lot about
19:44
numbers, but it's about people. I initially thought
19:48
my biggest priority would be cleaning up data,
19:51
setting processes and upgrading systems. But
19:54
what truly became clear was that the success
19:58
of these initiatives depended completely on the
20:01
people behind them. And also my ability to communicate
20:04
effectively with those people. So the first major
20:08
challenge was building trust. I came in full
20:11
of ambition, big ideas and a clear vision for
20:15
turning finance department into the intelligence
20:17
hub of the company. But I hadn't earned the internal
20:21
credibility yet. Naturally, you know, when you
20:24
join in a new organization, people feel threatened
20:27
by changes, especially when they don't understand
20:31
those changes. and they don't understand what
20:35
you're trying to achieve. So I faced a lot of
20:38
unexpected pushback, but in hindsight, I do understand
20:43
why there was a pushback at that time. I very
20:47
quickly realized that the only way forward was
20:50
to actively build relationship, generally listen
20:54
to people, and demonstrate that finance was not
20:57
there to be a watchdog, but we were there to
21:00
be a partner. And the second thing was the importance
21:06
of change management. Finance might seem like
21:09
a numbers game, but those numbers are just the
21:12
outcome of human actions and decisions. naturally
21:16
resist change, especially if it's unclear how
21:20
it benefits them directly. So I quickly learned
21:23
that every initiative needed clear, transparent
21:26
communication about why we were making changes
21:29
and specifically how these changes would positively
21:34
impact the day -to -day life of those people.
21:37
And I'm talking about the other departments.
21:39
It's easier to bring in changes to your team,
21:41
but it's harder to influence other departments.
21:45
And this is why influence is one of the most
21:49
important skills that you need to learn to become
21:51
an effective CFO. The third and last one is,
21:56
and maybe the most underestimated one, is you
22:00
truly need to understand your audience and craft
22:02
your message accordingly. Coming from a banking
22:06
background, I was used to speaking the language
22:08
of sophisticated financial professional, which
22:10
we call jargon, you know, and suddenly, I transfer
22:13
my table, I was working with talented people,
22:16
smart people, but who simply did not share the
22:19
same financial vocabulary or perspective. Initially,
22:23
I kept repeating myself and I'm like, why are
22:25
they not understanding what I'm saying? It's
22:27
so simple and clear, you know, the real breakthrough
22:30
came or happened when I shifted my message into
22:34
their own language and I started explaining finance
22:38
concepts in terms directly relevant to their
22:41
specific role, challenges and goals. I give you
22:43
an example. So for example, a lot of people don't
22:46
understand the balance sheet and it's hard for
22:48
them to visualize what's a balance sheet. But
22:51
when you bring it down at their level and tell
22:53
them, hey, do you have a house? Do you have a
22:55
mortgage? OK, your house is your asset and your
22:57
mortgage is the liability that you have on your
23:00
house. Then they can suddenly relate to what
23:03
you're saying. And it speaks to them in a different
23:06
level than just repeating your jargon and your
23:10
financial terms. So together. These lessons about
23:14
trust, change management, and tailored communication
23:17
were probably one of the most significant earlier
23:21
realizations, but also they are the realizations
23:24
that helped me turn the finance department into
23:28
a strategic partner. Awesome. Thank you so much
23:31
for sharing that. And I know you sometimes describe
23:34
yourself as a blended CFO, so operator, strategist,
23:39
and innovator, investor, sorry. What does it
23:42
look like in your day -to -day to be an operator,
23:45
strategist, and investor at the same time? So
23:47
it feels like you're blending all your experience
23:50
from private equity, from banking, all. How does
23:53
it look like in your day -to -day, all in your
23:54
week? Yeah, so when I describe myself as blended
23:59
CFO, operator, strategist, and investor, what
24:02
I'm really talking about is how I approach finance
24:05
beyond just numbers on a spreadsheet. So first,
24:09
As an operator, I strongly believe that the best
24:12
CFOs regularly leave their desk and go actively
24:16
discuss with the other departments. So it's not
24:19
about spreadsheets. As I said it earlier, it's
24:21
about humans. So members are merely the reflection
24:25
of the human actions and decision happening on
24:27
the ground. If you don't deeply understand the
24:32
context behind those actions, it's impossible
24:35
to translate number into meaningful insights
24:38
or into actionable strategies that are going
24:40
to help your internal clients or your internal
24:43
partners. So to be clear, I don't want people
24:47
to think that I'm saying you need to go and do
24:49
the job of the head of operations. What I'm saying,
24:54
it's about spending time with people from operations,
24:58
marketing, sales, and supply chain to understand
25:01
their challenges and the realities firsthand.
25:04
in on the ground, not just behind the spreadsheet.
25:09
And that's how finance, in my opinion, truly
25:13
becomes a trusted business partner. The second
25:17
one is strategist. So when I refer to strategist,
25:22
it's the responsibility of the CFO is not to
25:25
come up with a strategy. The CEO typically own
25:28
the vision, but our job is to provide clarity
25:32
around the path to achieving that vision. And
25:36
we use data to identify opportunities, anticipate
25:39
risks, and guide teams towards decisions that
25:43
align with the overall strategic objectives.
25:46
So we don't just deliver numbers, but we need
25:50
to be able to interpret these numbers and help
25:53
the business stay on course and adapt proactively
25:57
when needed. So the investor role is about capital
26:01
allocation and perhaps the single most critical
26:04
aspect of being an effective CFO. At its core,
26:09
this involves deciding how to best deploy limited
26:13
resources towards unlimited opportunities. And
26:17
this is where a lot of people miss the boat because
26:20
people get tend to be distracted by multiple
26:24
opportunities. But we could invest in different
26:28
channels and so on and so forth. But we don't
26:32
want to spread ourselves thin. What is the channel?
26:34
What is the opportunity that will bring the highest
26:37
ROI for our team, for our business? And we're
26:41
constantly asking, are these investments aligned
26:44
with our long -term goals? I often emphasize
26:49
that traditional budgeting is outdated because
26:52
it's too rigid, in my opinion. And today we live
26:57
in a rapidly changing business environment. We've
27:00
seen this recently with the tariffs. Nobody was
27:02
expecting that. And you have to take that into
27:05
account in your business. And you have to understand
27:08
rapidly how this is going to affect your business
27:11
and what kind of actions are you going to put
27:14
in place to keep your business profitable and
27:19
to keep generating sustainable cash flows in
27:22
the future. So instead of going with rigid budget,
27:27
effective CFO should think of budgeting as dynamic
27:30
capital allocation. You test, you measure, you
27:34
adjust, and you reallocate resources based on
27:37
evolving realities and emerging opportunities.
27:40
This is where flexibility is crucial. because
27:45
we live in a fast moving world. And if you're
27:49
locked in rigid plan, then you're guaranteed
27:51
to miss the ultimate destination. So this is
27:55
the three facets of the strategist, operator
27:59
and investor. Thank you for sharing that. And
28:03
you know, I'm glad you brought up the fact of
28:05
the change, the pace of change we're facing now
28:08
and how we have to be agile, how much we need
28:11
to be flexible and all that. When you look at
28:14
your amazing background in P .E. and in banking,
28:19
working at a growing company, what are some of
28:21
the things people often missed? Because you mentioned
28:24
sometimes you may be focused on the opportunities,
28:26
but you tend to forget all the things like the
28:29
bankers may look at or private equity or other
28:33
things could come into play. What are some of
28:36
the things that you think people often missed
28:38
and how can we overcome that? What do you mean
28:41
by people often miss and in which sense? Sure.
28:45
So let's say I'm a small company and I just want
28:49
to grow to a billion dollar. Right. So I may
28:52
be focused on, oh, let me get more customers.
28:54
For example, I may be focused on things other
28:57
than my capital stack, or I may be thinking about
29:01
my capital stack and be like, OK, maybe I don't
29:04
need to take that risk. How do you navigate those
29:07
kind of things in a in an environment that's
29:10
changing so fast. The most important thing is
29:13
to be flexible and have flexible models. A lot
29:17
of people think complexity when they build their
29:20
financial model, for example, and it's good.
29:24
It gives you a good perspective and it takes
29:27
all the different aspects of the business. But
29:30
how can you simplify that and take it into account?
29:34
What are the drivers of your revenue? What are
29:36
the drivers of your costs and how can you build
29:39
something that is agile and that can help you,
29:43
for example, when you have new tariffs, take
29:46
that into account and see what is the impact
29:48
on your business. So that flexibility is for
29:52
me very important to be able to take your business
29:55
to the next level in a fast growing environment.
29:57
The second thing is start with your goal. You
30:01
said, hey, I want to reach the billion dollar
30:04
mark and Keep that goal as your North Star. One
30:08
thing that I've noticed being a banker and working
30:10
with a lot of entrepreneurs and CFOs is they
30:13
keep changing. So today their strategy is this,
30:15
tomorrow their strategy is that. No, your strategy
30:18
should not change. So you have a goal, that's
30:21
your destination. Let's say we're going from
30:23
New York to Paris and The path could change,
30:27
you know, towards that destination based on what's
30:30
happening, but the destination stays the same.
30:33
And this is the piece that a lot of people miss.
30:37
And based on that, what are the resources that
30:39
I need to allocate to reach that destination?
30:43
Do I have the skills, the capital to be able
30:47
to reach that destination? And this is what a
30:49
good budgeting does, is you ask the right questions
30:53
you challenge the assumptions so that you rework
30:58
maybe your goal and then you know what like the
31:01
billion dollar is not this year but it's maybe
31:03
in three years and this year we could do 200
31:06
because this is what we need in terms of human
31:09
resources and we've seen it you know like in
31:12
the US and in Canada the unemployment rate is
31:15
so low that it's very hard to hire people and
31:18
what is the capital that I have access to? So
31:21
what are the cash flows that are coming in that
31:24
I can use to reinvest in my business and take
31:27
it to the next level? So this is what a good
31:31
CFO could bring to the table, asking the right
31:33
question, challenging the assumptions, and then
31:36
helping the rest of the executive team build
31:39
a plan that makes sense and making sure that
31:42
they follow the path towards the destination
31:45
and they don't forget about the destination.
31:47
I love it. And I think that's exactly what we
31:51
often miss is the destination. Because I feel
31:54
like even as human beings in social media, for
31:57
example, your goals change every day based on
32:00
what you may see. And it's so easy to get distracted.
32:04
You hear AI. You hear vacation in the Bahamas.
32:07
And you're like, OK, what is my goal again? But
32:10
your goal was Paris. So I love it. Thank you
32:12
so much for sharing that. Well, I'll do the Bahamas
32:14
anytime. I know, right? You're in Canada, so
32:19
I can see that for sure. So what would you say
32:24
is some advice you would give to someone with
32:27
a quote -unquote non -traditional background
32:30
that is aiming for the CFO seat? So my best advice
32:34
for someone with a non -traditional background
32:36
and quote unquote, you know, I don't think there's
32:38
a traditional or non -traditional, but we're
32:40
talking about somebody who's not been a controller
32:42
or an FPNA. So is really embrace your difference.
32:48
because your difference is your greatest advantage.
32:52
And when I joined Transformer Table, I came from
32:54
banking, not from traditional accounting or FP
32:57
&A background, even though I have a background
33:00
in finance, and I've studied accounting. But
33:03
initially, some people saw this as a gap, but
33:06
I saw it as a unique strength. And I immediately
33:09
leveraged my banking experience to negotiate
33:11
significantly larger and more flexible financing.
33:15
also introduced key strategic partners through
33:18
my network and I brought financial rigor and
33:21
discipline that only an experienced banker could
33:24
implement quickly. And I spent years observing
33:28
some of the best CFOs in action and I knew exactly
33:32
what worked and what didn't and what kind of
33:35
CFO I wanted to become. So I drew from those
33:38
lessons and rapidly applied best practices that
33:42
I knew would deliver results and quickly because
33:46
we were growing fast. But the key was really
33:50
aligning my distinct skills with specific goals
33:54
and ambitions of Transformer Table. And that's
33:56
what I mentioned earlier. How can we align the
33:58
goal of the person with the goal of the business
34:00
so that it creates synergies? So another thing
34:04
that is equally important and often overlooked
34:07
is How do you build your team? You must intentionally
34:11
surround yourself with people who complement
34:13
your skills. A lot of people, as I said earlier,
34:16
and I want to repeat myself, but they surround
34:20
themselves with people who look like them, who
34:22
think like them. And what it does, it creates
34:25
echo chambers where it does not cover your blind
34:29
spots. So I intentionally surrounded myself with
34:34
people who will bring different skills than I
34:38
had. And if you look at my team, we're so different
34:42
one from another, not only the corporate controller,
34:46
but also the rest of the team. They're very different,
34:49
but they complement each other and they have
34:52
personalities, obviously, that are good fit.
34:54
This is also a very important thing. So ultimately,
34:59
you need to remember that your team is your strength
35:01
and embrace your difference because that's your
35:05
strength. Thank you so much for sharing that
35:08
and now I'm curious, what is the best career
35:10
advice you ever received? The best career advice
35:15
I received came from a training program that
35:19
I attended. It was 2011, so a few years ago,
35:22
and I was working as a corporate banker in Dubai,
35:25
so not... not going through the Canadian harsh
35:28
winter, and my boss decided to send me to the
35:32
director's program in Hong Kong. And at that
35:34
time, I was not even a director, but he believed
35:37
in me and decided to invest in my growth. And
35:39
I truly thank him for that because this completely
35:44
changed my perspective and how I see the world.
35:47
And the key insight was simple, but very powerful.
35:52
So... The message was in a commoditized business
35:55
and banking was a highly commoditized business
35:57
and still is, the only true way to stand out
36:00
is to become a genuine strategic partner to your
36:03
clients. It made me realize something fundamental
36:07
and every role, every position, every business
36:11
has clients, internal or inter -external clients.
36:16
And the key to success is always the same. Focus
36:20
obsessively on making your clients successful.
36:23
Take the time to deeply understand their goals
36:25
and challenges. Identify what levers you can
36:29
pull and help them achieve those goals. And once
36:32
you deliver results consistently, it creates
36:36
a virtuous circle. It builds trust with your
36:40
partners. And finance becomes a strategic partner,
36:45
but it also plays a an active role in value creation
36:51
within the business. This advice really shaped
36:54
every step of my career, whether when I was in
36:57
banking or as a CFO, and it also defined how
37:01
I work with external clients and prospects. So
37:05
I don't position myself just as a financier,
37:09
but want to position myself as a strategic advisor
37:12
who understands the business and the goals of
37:16
people and help them achieve those goals. The
37:19
way I run the finance department today is also
37:23
inspired by this kind of philosophy where I look
37:27
at it not as a department, but as a business,
37:31
as a consulting business dedicated to making
37:34
my internal and external stakeholders successful.
37:38
And if there isn't a universal truth that I've
37:42
learned is that The only sustainable path to
37:46
your own success is helping others achieve their
37:49
own success. That is so true. And I love how
37:52
you said you said it because you learned it in
37:56
the banking world, somewhere in Hong Kong, Lord,
37:59
we have to talk about that. But it also applies
38:01
to where finance as a whole. corporate finance,
38:06
corporate accounting, even public accounting,
38:08
even in HR and IT, that notion of being a good
38:12
business partner. And you summarized it very
38:14
well of understanding what's going on so you
38:17
can really help them achieve that success. Now,
38:20
I'm curious with your international experience,
38:23
if you can please give us a snippet of all the
38:25
countries you've been to and how that probably
38:28
shaped your leadership style today. Yeah, I love
38:33
traveling. So I've been to so far 35 countries
38:38
and still counting. It's not enough. I know for
38:41
some people it's a lot, but for me it's not enough.
38:44
But meeting people, and what I like to do when
38:45
I go visit country, I don't like to sit in resorts.
38:49
Anyway, I'm too hyperactive for that. So what
38:52
I like to do is go meet local people, see how
38:55
they live. And what it does, it created this
38:59
open -minded mindset where if you see my team,
39:04
they're all different. I'm not saying they're
39:06
all different coming from different countries.
39:08
Yes, some of them do, but they're all different
39:11
in terms of personality, in terms of skills,
39:14
in terms of what they bring to the table. It's
39:17
the same thing with Transformer Table. The whole
39:19
company is so diverse. And this is what makes
39:22
our strength because when we face challenges,
39:27
we are so diverse that we think differently and
39:30
we tackle them from different perspectives. So
39:33
it becomes a strength. And this is what I think
39:38
makes us successful as a business today. So this,
39:42
you know, how do you say like traveling? And
39:46
meeting other people really developed a growth
39:49
mindset that is required when you're working
39:53
for a hyper growing company. Oh, that's awesome.
39:57
And what would you rate out of those 35 countries?
40:00
What would be your top five? I'm curious. This
40:03
is a question that people ask me is like, what
40:05
is the best country you've ever visited? And
40:08
I'm like, they're all different. You know, they
40:10
all have their charm and they all have, you know,
40:13
their pros and cons. But So if I had to retire
40:17
someday and live in a country other than Canada,
40:21
I would definitely go live in Spain. I love the
40:25
water, love the food, love the beaches, the nice
40:29
weather. So Spain is definitely in my top list,
40:34
but they're all unique, you know? So some countries
40:38
I love the food, some countries I met great people,
40:42
and even some countries I've been there. you
40:45
know, twice or three times. And each time is
40:47
different because it depends on the people you
40:50
meet. It depends on the traveling with. So that's
40:53
why I love about, you know, visiting different
40:55
countries and also I'm a foodie. So. Oh, me too.
41:00
Too much. But I still want to know your top five.
41:03
So number one in Spain. Yes. Number one in Spain.
41:06
What will be the other one? Barcelona in Spain.
41:09
Love that. Love the vibe. Istanbul was. a great
41:14
discovery, to be honest, in Turkey and love the
41:18
vibe. They're very open -minded. They have great
41:21
food. You want history, you have history. You
41:24
want to go, you have clothing. So whatever you
41:26
want, you have it there. I loved Singapore in
41:30
Asia. I love food. So, you know, Singapore was
41:33
great. So clean, so efficient. And, you know,
41:37
like people are nice. The food is good. The country
41:40
is clean. It's beautiful. It's small. but it
41:42
is beautiful and very green. I don't want to
41:45
hurt anybody's feeling, but Italy was great for
41:48
food, great for everything that you want, you
41:51
know, culture, beaches, history, whatever you
41:54
want, you have it in Italy. And then I would
41:57
close probably with Portugal, small, cute. Very
42:02
safe and close to Spain. So, you know, I could
42:07
visit when I moved to Spain for my retirement.
42:11
Oh, that is awesome. Thank you so much for sharing.
42:14
So my last question, what do you like to do outside
42:16
of work and traveling and traveling, eating food?
42:22
I'm very open minded, but I don't try weird things,
42:25
though. I remember I went to Mexico. and they
42:29
served us guacamole, you know, and I looked there
42:32
was some small stuff and I thought it was it
42:34
was bacon. And I get closer and it was crickets.
42:38
I was like, OK, I am adventurous, but I have
42:42
my limits. OK, so I like to try new things, but
42:46
I didn't eat the guacamole. So it was not not
42:49
not the crickets. I'm sure they were very crunchy.
42:52
You missed out. But I told you Anderson, I would
42:57
have done the same thing. So I'm not very adventurous
43:01
when it comes to trying weird things, but I love
43:04
trying different kinds of food. Yeah. So definitely
43:07
food outside of work, outside of traveling. How
43:10
about you? What do you like? Oh, food too much
43:14
food and food again. Yes. But I wish I could
43:17
balance it with something else like fitness.
43:19
But right now, yes, I'm all food and Netflix,
43:22
which is not a good combination. It's a good
43:26
mix, but it is not good long term. It's not sustainable.
43:32
Well, thank you. Thank you so much for being
43:35
on the show, Axel. This was so super, super,
43:38
super helpful. Thank you, Wessia. It was a pleasure
43:41
discussing with you and being part of this show.
43:44
And that's it for today's episode of the Diary
43:47
of a CFO. Thank you so much for tuning in. If
43:50
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