![]() ![]() While the complete planning playbook, calendar template, and mock board agenda Sandy and Rob presented were distributed exclusively to Circle members ( apply to join here ), here are the high-level takeaways and their three-part planning framework: #1 Establishing a Strategy & Top-Down POVĪnnual planning is the opportune time for CFOs to step back and establish a clear top-down point of view of the business and forward-looking projections. To learn some of the secrets of effective annual planning, we convened The Circle for a conversation led by two former CFOs turned board members with ample experience in both sides of the boardroom table – Sandra Smith (former CFO of Segment) and Rob Krolik (former CFO of Yelp). In this gauntlet of planning, a CFO’s best friend is a well-crafted strategy and process framework. And, in times of volatility and austerity, CFOs often must be more meticulous in their approach to preserving and managing cash, including striking an ever-challenging balance between growth and profitability. The process can be grueling and requires the CFO to wear many hats, from a business partner and financial steward to”air traffic controller” managing a very complex cross-functional process. To establish next year’s budget, financial targets, and growth projections, CFOs must gather input from various sources, establish leadership alignment, and present a plan that the CEO and board of directors will approve. ![]() ![]() As year-end approaches, most CFOs are in the throes of annual planning. ![]()
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