In the evolving landscape of business, the term “entrepreneurial spirit” is often romanticised as the territory of visionary founders and risk-loving disruptors. But the reality, especially for those in positions of financial leadership in high-growth organisations, is more nuanced, pragmatic and, above all, grounded in the day-to-day realities of building and scaling a business. Achieving sustained business growth in a volatile world is not merely a function of ambition; it requires a blend of diligent groundwork, acute self-awareness, and a relentless focus on customer experience.
Understanding the Growth-Minded CFO
It’s a common misconception that the role of the Chief Financial Officer (CFO) is a cloistered, spreadsheet-centric one, detached from the entrepreneurial thrust of a business. Today’s growth-minded CFO is on the ground, entangled in the operational, strategic, and cultural fabric of the organisation. Far from simply reporting numbers, they are actively shaping outcomes – partnering with founders, building teams, managing deals, and aligning cross-functional efforts towards a single, unifying goal.
This model is especially prevalent in founder-led, scale-up environments. Here, the CFO’s scope stretches far beyond finance: they are often tasked with everything from HR and compliance to legal and IT, frequently being the first executive hire after the founding team.
Experience Over Transactions: The Power of Product Excellence
Modern growth strategies are increasingly anchored in experience – not just as a buzzword, but as a core business tenet. Businesses that thrive are those who do more than deliver a product or a service; they create lasting memories, enrich lives, and become part of the stories their customers tell. Take the example of themed food tour businesses. The customer isn’t merely paying for a meal, but for knowledge, connection, discovery, and a slice of local culture, all interwoven into a singular, memorable event. For organisations keen to foster sustainable growth, obsessing about the customer’s experience is paramount.
The Two Ingredients: Hard Work and a Little Luck
There is no silver bullet in entrepreneurial growth. The formula is often clichéd because it is simply true: it’s down to consistent hard work, with a helping hand from serendipity. To succeed in the long run, businesses must be willing to put in the graft – to roll up their sleeves and repeatedly go the extra mile, particularly in times of uncertainty or adversity.
Building for Scale: Ambition and Systems
Ambition is the fuel, but systems are the engine. It’s not uncommon for growth-stage businesses to find themselves hamstrung by processes, systems or team structures that worked when headcount was small – but become an invisible ceiling as the business grows.
When planning for growth, there is a simple but vital question to ask: if demand exploded and you needed to 10x or even 100x output overnight, would your current infrastructure cope? If the answer is “no”, now is the moment to prioritise scalability.
The Strategic Value of Data: From Insight to Action
Modern businesses are awash with data, but few are truly unlocking its value. Too often, data sits isolated, badly structured or underutilised, serving as a record of past activity rather than a resource for insight and decision-making. Yet, at the core of effective growth strategies is the ability to transform raw data into actionable intelligence.
Sitting atop mountains of underexploited information can be a serious opportunity cost. As the scope of the CFO role expands, they are increasingly expected to be the “custodian of data” – marshalling not just financial but operational and customer data to enable swift, strategic course corrections.
People and Alignment: The Invisible Growth Lever
Businesses are ultimately made by people, for people. One of the most underrated levers for growth is the alignment, motivation, and capabilities of the people steering the business. Hierarchical divides, competing objectives or cultural mismatches can erode even the most promising growth story.
The key asks: is everyone – board, shareholders, management, staff and partners – aligned around a single, clear North Star? It’s not about negating individual ambitions, but ensuring all efforts are converging on a common objective.
The Role of Technology: Scaling Efficiency and Enhancing Experience
The digital revolution has made technology a defining factor in scale and customer experience. For high-growth businesses, in-house technology platforms that can handle multi-market operations, complex workforce management, booking, communications and analytics are invaluable. When built or selected well, the right technology enables:
- Rapid expansion into new markets with minimal incremental cost.
- Consolidation and automation of operational processes.
- Greater visibility and control over performance.
- Improved customer experience through digital touchpoints.
Growth Through Acquisition: A Double-Edged Sword
Acquisition is an attractive lever for turbocharging growth, supplementing organic momentum and securing market position. But it is no shortcut – and it comes with its own unique pitfalls. Successful acquisition demands not just identifying targets, but carefully integrating people, cultures, technology and processes over a period of months or years.
Key challenges include:
- Melding different working cultures and styles.
- Integrating operational and technical systems.
- Managing the complexity of multi-market or multi-product portfolios.
- Maintaining clear, aligned strategic objectives.
Done well, acquisition can add significant value, accelerating growth and bringing new talent and capabilities into the fold. But the larger the scale, and the more fragmented the industry, the greater the importance of being structurally and culturally ready to absorb new teams, revenue and customers. Alignment around core objectives – that North Star for the combined entity – is every bit as critical here as in organic growth.
Attracting Investment: Preparation, Clarity and Credibility
For those seeking external investment – whether from venture capital, private equity or debt providers – readiness is the name of the game. Sophisticated investors look beyond headline numbers: they are seeking businesses that have mitigated risk, are well governed, and offer clear pathways to sustainable value generation.
Preparation is twofold:
- Operational and financial discipline: Clean, credible accounts, sound processes, legal and tax compliance must all be watertight before due diligence begins.
- Narrative and alignment: Investors are buying into a team as much as a proposition. The leadership group must be credible, aligned, and able to communicate a compelling, coherent vision.
Bringing in experienced finance professionals – often a seasoned CFO – long before investment is sought pays dividends here. Not only does this ensure numbers stand up to scrutiny, it signals a level of professionalism and diligence that investors value highly.
Practical Tips for Growing Beyond Break-Even
Drawing these threads together, what are the practical, actionable tips for business owners and leaders seeking to power beyond break-even towards sustainable, long-term growth?
- Hire for Strength: Early investment in strong financial leadership pays off – don’t wait for problems to emerge before bringing in a CFO.
- Align, Align, Align: Establish – and relentlessly reinforce – a single, clear organisational goal. When in doubt, test all decisions against this North Star.
- Enjoy the Journey: Growth is demanding. If you and your team aren’t enjoying the work, it will be that much harder to overcome the inevitable challenges. Passion, curiosity, and continuous learning are key ingredients for resilience.
Building and scaling a high-growth business is neither formulaic nor easy. It requires the vision to set ambitious goals, the discipline to build scalable systems, the humility to learn from setbacks, and the stamina to keep going when the going gets tough. But with a focus on experience, investment in strong leadership, strategic use of data and technology, and total alignment of your people, you set a foundation not just for growth – but for enduring success.
—
This post was inspired by insights shared in the “Beyond Breakeven” podcast episode featuring Tannah Matus, CFO of Secret Food Tours. For further stories and actionable advice from business leaders at the growth coalface, subscribe to Beyond Breakeven, brought to you by Xeinadin.
