Early-stage brands face a ton of challenges as they plan to scale their business and expand into...
CFOs, whether full-time or fractional, play a critical role in the growth and success of emerging CPG (Consumer Packaged Goods) brands. Their expertise in financial management, strategic planning, and risk assessment is indispensable, especially as these brands navigate the complexities of retail expansion. While much of this expertise is developed through hands-on experience, several books have been recommended by CFOs we work with, proving invaluable in equipping them with the knowledge and insights needed to thrive in the retail sector.
Books about Financial Strategy and Operations
The 80/20 CFO: How to Make Strategic Transformations in Your Company by Janice Berthold and Suzy Taherian
This book provides practical strategies for CFOs to drive change and improve company performance by focusing on the most impactful activities. It covers crucial aspects like establishing rapport with stakeholders, aligning the CFO’s role with company goals, and implementing strategic transformations efficiently. Berthold and Taherian's insights are particularly valuable for new CFOs looking to make a substantial impact in the early stages of their tenure.
Purchase here: https://www.amazon.com/80-20-CFO-Strategic-Transformations/dp/1790707870
The Chief Financial Officer: What CFOs Do, the Influence They Have, and Why it Matters by The Economist and Jason Karaian
This comprehensive guide explores the evolving role of the CFO, offering insights into how they can influence and drive organizational success. It includes perspectives from current and former CFOs, detailing how their roles have expanded from traditional number-crunching to strategic decision-making. The book emphasizes the importance of leadership, adaptability, and effective communication in the modern CFO role.
Purchase here: https://www.amazon.com/Chief-Financial-Officer-Influence-Economist/dp/1610393856
The Lean CFO: Architect of the Lean Management System by Nicholas S. Katko
This book is essential for CFOs who want to implement lean principles in their financial management practices. It covers lean accounting, performance measurement, strategic planning, and more. Katko’s insights help CFOs drive business success by eliminating waste, improving efficiency, and fostering a culture of continuous improvement. The practical tools and techniques provided make it a valuable resource for CFOs in any industry.
Purchase here: https://www.amazon.com/Lean-CFO-Architect-Management-System/dp/1466599405
Market Strategy and Growth Books for CFOs at Emerging CPG Brands
Ramping Your Brand: How to Ride the Killer CPG Growth Curve by James F. Richardson PhD
This book provides a deep dive into the growth strategies specific to the CPG industry. James F. Richardson offers a detailed analysis of how brands can achieve sustained growth by focusing on critical aspects such as market entry strategies, scaling operations, and optimizing brand positioning. It includes case studies and actionable insights that are particularly beneficial for CFOs looking to drive exponential growth in the CPG sector.
Purchase here: https://www.amazon.com/Ramping-Your-Brand-Killer-Growth-ebook/dp/B07XKB9BVC
High-Hanging Fruit: Build Something Great by Going Where No One Else Will by Mark Rampolla
Mark Rampolla shares his experiences and strategies for building a successful brand by targeting underserved markets and taking bold risks. This book is especially relevant for CFOs looking to innovate and differentiate their brands in a crowded marketplace. Rampolla's insights into identifying unique opportunities and executing unconventional strategies provide a valuable perspective for driving growth and profitability.
Purchase here: https://www.amazon.com/High-Hanging-Fruit-Build-Something-Great/dp/0399562125
Competitive Strategy: Techniques for Analyzing Industries and Competitors by Michael Porter
Michael Porter provides a clear and practical guide for understanding the competitive forces at play and how to develop strategies that take advantage of them. He discusses how competitive advantage can be defined in terms of relative cost and prices, linking it directly to profitability. This book is highly regarded for its framework on predicting competitor behavior and has transformed the way companies analyze and respond to their rivals.
Purchase here: https://www.amazon.com/Competitive-Strategy-Techniques-Industries-Competitors/dp/0684841487
CFO Books on Thought Leadership and Culture
Principles by Ray Dalio
Ray Dalio shares his unique approach to decision-making and leadership, which he calls "Principles." The book outlines fundamental truths that serve as the foundation for successful behavior and decision-making. Dalio’s principles on radical transparency and effective communication are particularly beneficial for CFOs aiming to foster a culture of openness and innovation within their organizations. His insights are based on his experiences in building one of the world’s most successful investment firms.
Purchase here: https://www.amazon.com/Principles-Life-Work-Ray-Dalio/dp/1501124021
No Rules Rules: Netflix and the Culture of Reinvention by Reed Hastings and Erin Meyer
This book explores Netflix’s unique corporate culture, providing lessons on flexibility and innovation that are crucial for CFOs in dynamic industries like retail. Hastings and Meyer discuss the radical management practices at Netflix, such as high levels of employee freedom and responsibility, which have driven the company’s success. The book is a valuable resource for CFOs looking to implement innovative strategies in their own organizations.
Purchase here: https://www.amazon.com/No-Rules-Netflix-Culture-Reinvention/dp/1984877860
Dare to Lead by Brené Brown
Focused on leadership and vulnerability, this book is valuable for CFOs looking to inspire and manage their teams effectively. Brené Brown provides a roadmap for developing the skills and mindset needed to lead with courage, authenticity, and resilience. The book covers essential topics such as building trust, managing difficult conversations, and creating a resilient mindset, all of which are crucial for CFOs navigating the challenges of retail expansion.
Purchase here: https://www.amazon.com/Dare-Lead-Brave-Conversations-Hearts/dp/0399592520
Atomic Habits by James Clear
Offering actionable advice on habit formation, this book helps CFOs build and maintain productive habits that can drive organizational success. James Clear shares scientifically-backed techniques for developing positive habits and breaking bad ones, emphasizing the power of small changes that lead to significant results. The book includes real-life examples and practical strategies that are particularly useful for CFOs looking to improve their personal and professional effectiveness.
Purchase here: https://www.amazon.com/Atomic-Habits-Proven-Build-Break/dp/0735211299
CPG Financing with Lunr Capital
Incorporating the best corporate finance books into your reading list can provide you with the insights and tools needed to excel in your role and drive your company's success.
At Lunr Capital, we understand the unique challenges that emerging CPG brands face in retail expansion. Our inventory financing solutions are designed to support these brands in their growth journey. If you're a CFO working with an emerging CPG brand and are looking for inventory financing or interested in retail expansion, reach out to us. We're here to provide tailored financing solutions and expert support, helping you navigate the financial landscape and achieve your business goals. Let us be your partner in success.
