Interested in starting your own entrepreneurial journey but unsure what to expect? Then read up on our interview with Kirk W. McLaren, CEO of Foresight CFO, located in Bethesda, MD, USA.
What's your business, and who are your customers?
My business is Foresight CFO. We work with CEO business owners globally who want to have an impact and gain financial and time freedom. Most CEOs avoid building a world-class Financial Operation because it's not what they were born to do. As a result, they pay the price when making decisions and getting access to capital. The FIVE Habits of Profitability are proven financial management methods, not cookie cutter, adapted to your business. Stay one step ahead to have Clarity, Confidence, and follow-through.
Tell us about yourself
I was born to build businesses. After selling my first business in high school and attending Texas A&M, I served in the Army during the first Gulf War. This cultivated my DNA about being intentional, establishing clear objectives, building the right delivery teams, and achieving the required outcomes through perseverance globally.
Once discharged from military service, I completed my master’s work at Johns Hopkins and then devoted the next few decades to working mostly in privately held competitive growth companies. Our Growth CFO Impact Financial Management solution crystallized when I started teaching graduate school at Georgetown University. I had to figure out a way to teach non-financial managers how to use the numbers. After about a year of teaching, I realized that we had a framework that could be adapted to the needs of different CEOs. That’s when I decided to incorporate Foresight CFO. Since its inception, Foresight has been battle-tested with 100’s CEOs globally. I am motivated to establish the future of CFO Impact as Growth CFO three-person teams. This way, we go well beyond any person's expertise and comfort zone so that CEOs gain clarity and confidence while we protect the downside. Ultimately this means that our clients and their teams do even better. We do well by doing good.
What's your biggest accomplishment as a business owner?
Most successful CEO business owners describe getting frustrated with the numbers, particularly the financials. My biggest accomplishment is developing a global team of Growth CFOs who work alongside CEOs to do even better. Often times we help business owners achieve 2-3x revenue growth and accelerate profit even more. In doing so, they gain financial freedom and peace of mind. In addition, we build businesses that are not dependent on the business owner. This way, CEOs gain freedom with their time as well.
What's one of the hardest things that comes with being a business owner?
The hardest thing in business is leading people to go well beyond the limits of their comfort zone. This includes using the new skill and knowledge consistently until it becomes theirs.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
To be the best, my top three tips are:
- Set a clear destination objective. Then update it at least once a year when planning before starting the following year.
- Be bold to obliterate the obstacles to growth. Obstacles include winning new customers, building people capacity, and proactively gaining access to capital.
- Establish the Habits of Profitability. These are proven financial management methods to gain clarity, confidence, and the ability to follow through.
Where can people find you and your business?
Website: https://kirkwmclaren.com/book/
Facebook: https://www.facebook.com/ForesightCFO
Twitter: https://twitter.com/KirkWMcLaren
LinkedIn: https://www.linkedin.com/in/kirkwmclaren/
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
Turn your craft into recurring revenue with Subkit. Start your subscription offering in minutes and supercharge it with growth levers. Get early access here.
