Mike Wyman - The CFO Role in Search Funds - Ep.205

Think Like an Owner

Ep.205: Alex (@aebridgeman) is joined by Mike Wyman (@michael-k-wyman).

My guest today, Mike Wyman, brings over 30 years of experience in various CFO roles to this episode where we dive into the CFO role, especially in newly acquired businesses with limited financial infrastructure. Today Mike advises CEOs throughout the search fund ecosystem on making critical CFO hires and brings his experience to several boards as well.

In our discussion, Mike outlines the CFO mentality and focus on constant improvement, what the various phases look like early in a new CEO’s tenure concerning finance, and advice for hiring your financial team.

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Links:

Mike on LinkedIn

Topics:

(00:00:00) - Intro

(00:04:02) - Mike’s favorite roles during his career

(00:12:31) - Developing the CFO Mentality framework

(00:16:19) - Early improvements to implement in a finance department post-acquisition

(00:18:38) - Phases and priorities in the finance of a search fund company

(00:30:27) - Hiring a CFO

(00:34:07) - Responsibilities of a strategic CFO

(00:36:25) - Personal discoveries about life as a CFO

(00:38:16) - Common mistakes from CFOs and CEOs post-acquisition

(00:39:57) - What makes an effective finance team?

(00:42:25) - Closing advice