While shining a bright light on Pricing and its impact on the component parts of the income statement, Mark Stiving teaches a bushel full of lessons finance leaders will appreciate. Share these important concepts with your team and colleagues to help grow your business.
Dave and Steve discuss how CFOs are leading their teams from an historical to future focused operation by using self-awareness, confidence gained by learning the language of our colleagues.
One of the first steps necessary by the CFO is to assess the financial well-being of the organization – which areas are doing well and which areas require intervention. Oftentimes, the first place to seek understanding of the financial well-being of the organization is to examine the organization’s financial statements.
Expectations associated with many C-level executives are related to their functional responsibilities. For example, the Chief Information Officer (CIO) has direct authority and responsibility over the informational needs of the organization. Similar to the CIO, the Chief Technical Officer (CTO) oversees the technical aspects of the organization while the Chief Marketing Officer provides leadership regarding marketing efforts and the results that those efforts have in promoting the organization’s outputs – all having both authority and responsibility. However, the expectations associated with the Chief Financial Officer (CFO) may not all be directly associated with their functional responsibilities – in some areas, they may have responsibility but little, if any, authority.
In this article Mark Stiving teaches how simple pricing is better, how to price to maximize the Customer Lifetime Value, which refers to how much value (or revenue) we could earn from a customer over their time with us as a customer.
