He helped to navigate a violent and catastrophic economic crisis in Argentina. He helped shape the playbook for a Dominican Republic bank bailout, which nearly brought the country to its knees, and he was at the helm of this international bank during the financial crisis, which made money during that time period.

Howard Green's book, Gimme A Crisis, is a roadmap for becoming a CEO, understanding the differences between liquidity and capital, learning the essentials of risk management, and the role of people skills at the CEO level.

Howard is making his second appearance on the show, and if you like Railroader, you will not be disappointed with his newest book.

Over the past thirty years, Kevin Boehm has opened forty restaurants, been awarded the highest honor in his profession, and served everyone from Mick Jagger to President Obama. 

Kevin's new book is a memoir entitled The Bottomless Cup. During this conversation, we hear how Kevin endured a chaotic relationship with his surrogate father and what it was like to learn of his biological father when he was a college student. Despite many obstacles and hardships, Kevin was a successful restaurant flipper until he hit a snag in Nashville.

We learn what success looks like in the restaurant industry. More importantly, Kevin shares his insights about success beyond the kitchen.

Why has Taylor Swift trademarked her and her cats' names? And how does she protect the approximately three hundred trademarks she owns?

As Kary Oberbrunner tells us, we're just like Taylor in that we're all IP companies. In this engaging conversation about IP, we learn about Instant IPᴵᴾ, the role blockchain plays in IP, the reason good fences make good neighbors, and why you should consider an IP holding company.

The book title we're discussing is Kary's, You Are an IP Company, which was kickstarted by one of the triggering events he addresses in his TEDx presentation. 

Are you curious about the origin story of the CFO Bookshelf podcast? The great people at Oracle NetSuite wanted to know that about a year earlier when they asked that question during one of their webinars.

In this recording, the Head of Marketing at Netsuite, Ranga Bodla, asks the host of CFO Bookshelf why he started the show, who his favorite guests and been, and even some conversations that didn't turn out too well.

I enjoy reading books by transparent business founders who are not afraid to let their guard down in the stories they share.

Titles quickly coming to mind are Boss Life by Paul Downs, Anything You Want by Derek Sivers, and Wild Company by the founders of Banana Republic.

High on my list in this genre is What it Takes by Raegan Moya-Jones, the gritty and successful co-founder of aden + anais. Like many startup arcs, this book reveals many obstacles encountered by founders: necessary startup capital, constant cash constraints, people issues, supply chain inefficiencies, and other frustrations.

More importantly, Raegan gives us a firsthand look at the challenges of creating and building a business in a male-dominated space. Her research in the book and the advice provided in this conversation are inspiring and insightful.

Episode Highlights, Q&A with the Host, and Bookclub Starter Questions: Link

Do you know what a donor-advised fund (DAF) is?

Until this conversation, I knew very little about DAFs. Jake Wood founded Groundswell, whose mission is to democratize and revolutionize philanthropy for everyone. They do that through technology and DAFs.

In this conversation, we find out what DAFs are, how to set them up, who can sponsor a DAF, and why they offer tax advantages to donors.

Mad Men's Harry Crane has found that his colleague makes $100 a week more than he does. He believes he deserves a raise, and through some fear and trepidation, he gets an extra $25 more per week from his intimidating boss. But do you think he's happy?

How about you? Are you paid fairly? If not, how do you know?  What are your thoughts on minimum wage vs. a living wage? Do you believe in pay transparency and salary surveys?

In the compensation world, David Buckmaster probably needs to introduction. He's the author of Fair Pay.

In this conversation, we're going to hear about some of the challenges and solutions on the topic of fair pay.

CFO Bookshelf does not sit in the seat of judgment, nor does it play the role of pundit in the midst of the 2023 banking crisis we are witnessing. We'll let the regulators and the media handle those duties.

Instead, CFO Bookshelf is about old and revolutionary ideas that we can put to work right now in our organizations.

As I have been monitoring the news of the Silicon Valley Bank closure and similar banks that are failing, four mental models or frameworks have come to mind.

In this episode, I share 4 mental constructs that come from the banking industry playbook that we can apply in our own businesses. These ideas include:

1. CAMELs
2. Stress testing paired with resilience testing
3. The Texas Ratio
4. Reputation Risk

Show notes page - Read Here

I've heard some startup founders say that every graduate should spend a year or two working in government before embarking on their chosen career path.

For business students, I believe every new graduate should consider running or managing a restaurant for one to two years because of the people, financial, and entrepreneurial skills needed to keep the store afloat.

I'm thrilled to have Ken McGarrie on the show to talk shop about his industry and his book, The Surprise Restaurant Manager.

This conversation is especially geared toward those of us outside the food service industry, but those working in it will gain valuable insights from the COO of Fabio Viviani Hospitality.

Author and HBR contributor Peter Cappelli asserts that accounting and financial reporting are wreaking havoc on damaging HR decisions by corporate leaders.

In this conversation, Peter reveals that 90% of all company vacancies were filled internally prior to 1980. Today, that number is just over 20%. He adds that there were very few layoffs more than 40 years ago. Today, layoffs make headlines weekly.

Peter believes these results are being driven by accounting and financial reporting. In this episode, we'll also hear about financial reporting's impact on defined contribution plans, training and development, R&D, and layoffs.

Peter Cappelli's newest book is Our Least Important Asset (July 2023).

I'm periodically scouring the podcast universe for other shows focusing on business books. I recently found Business Books & Co. founded by three buddies who went to school together.  Within three weeks, I listened to their first three seasons of episodes.

As a fan of the show, I'm thrilled to hear the origin story of this podcast with their moderator David Kopec. In this show, we learn how a book club turned into a podcast, how books are selected, their favorite episodes, the books they didn't like, and an update on season four.

What is the best book on the story of Apple Computer? This week's guest states that Return to the Little Kingdom is the best of all of the Apple books on the history of this iconic growth story dating back to the pre-startup days thru the most successful sales years of the Apple II computer.

Our guest is David Kopec, the moderator of the podcast Business Books & Co. David is a history buff on the early days of Apple and on their journey to becoming a unicorn.  Expect to hear some stories you've never heard before.

Jeff Polovick started Canadian-based Driving Force with just $80,000 and just a few years of experience. That modest investment has been parlayed into $400 million in revenues with 675 employees.

Jeff's book is Why Can't We, and like many startup stories, there's drama, adversity, success, more adversity, and even an exit.

In this conversation, we talk about continuous and lifelong learning, family, adversity, and Jeff's value system.

We have read many stories about the magical growth of Starbucks. However, did you know that one of its first presidents had a background in furniture sales and did not hold a college degree?

Our guest is the author of It's Not About the Coffee, and Howard Behar saw store units grow from a small handful to more than 15,000 during his two stints as one of its presidents.

In this conversation, we'll learn why Mark's favorite line is, "If you grow people, the people grow the business. That’s it. That’s the number-one priority." Howard discusses the Monday night meetings, dealing with crises, and why he had to stop wearing his feelings on his sleeve.

He gained the world. He then lost the world and those who were the closest to him. But he never lost his soul while hitting the lowest of lows in a federal penitentiary that once housed John Gotti.

Shaun Hayes was once at the top of the banking world in St. Louis until he was in the wrong place at the wrong time during one of the worst recessions ever, which led to approving bank loans that violated state and federal laws.

 Shaun tells his story in his book, The Gray Choice, where we learn about a young man with entrepreneurial instincts as a teenager. After college, he worked for a larger-than-life legendary banker in Kansas City. That work took him to St. Louis to grow that bank's presence in that region.

A few years later, Shaun bought into his first bank, which would become a small $1 billion empire that went public. Shaun points out that his gray choices started well before he was arrested, which is the topic of this conversation.

We recently watched a video by the CEO of the UK-based retail chain, Timpson. We loved the material so much that we found a book by the company's chairman, Sir John Timpson. The title is based on how the business is run, Upside Down Management.

According to Business Sale Report, Timpson is now a 2,000-branch-strong business with turnover totaling £300m and profits of up to £20m. 

In this conversation, we break down John's book into three big ideas, which include the hiring of ex-offenders, putting money in the till and acting the part, and unconventional management tactics in a large organization.

Of the nearly two thousand books that the producer of CFO Bookshelf has read, there is one title he has gifted the most to CEOs than any other title. That book is Executive Toughness by Dr. Jason Selk.

In this episode, we learn three of Mark's favorite big ideas in Jason's short and fast-based book: 1) product and process goals, 2) written daily debriefs, and 3) relentless solutions focus.

Two other titles are also mentioned that are excellent companions to Jason's book.

Last year, one of our top episodes was our favorite books of 2021. We're at it again this year with our Top 10 books for 2022.

We also share our favorites in fiction along with a handful of honorable mentions. 

Rounding out the lists of favorites include unexpected surprises, books we didn't like, books that were worth rereading in 2022, and our heavy favorite for 2023.

The subscription economy is alive and well for products-based businesses and the software industry. But how about professional services firms? Does the subscription model apply to accountants, lawyers, consultants, marketers, and other professionals?

Ron Baker founded VeraSage Institute, the leading think tank dedicated to teaching value pricing to professionals worldwide. He's the co-host of The Soul of Enterprise podcast, and he's the author of numerous books, including his newest title, Times Up!

In this conversation, we talk about the necessary mindset needed for professional firms to shift to a subscription model. Outputs vs. transformations. Easing in or starting a brand new model? Technicians vs. professionals and the role of intellectual capital. And finally, we address one of the biggest questions every professional will ask, "How will we price this?"

What can any business or financial leader learn from a twenty-year vet in the fire service?

I'm now calling John Cuomo the John Maxwell for firefighters and other public safety officials based on his book, Leadership Refined by Fire.

John has always been interested in leadership and lifelong learning, and his book is full of stories, inspiration, and big ideas that can be applied to any playing field. He ends his book on mental health, specifically PTSD, the last topic we address in this conversation.

As a financial expert, could you estimate the cost savings in the U.S. alone through the country's use of daylight savings time?

Benjamin Franklin's estimates in 1784 yielded about $200 million in savings in today's dollars if people lived their days by making the best use of daylight.

David Prerau is the leading expert on daylight savings time, and his book, Seize the Daylight, explores not just the history of DST, but also the other two forms of artificial time--Greenwich Mean Time and the introduction of time zones.

I love investment books. It's a topic I could talk about for hours if allowed.

I also started listening to the podcast Investing by the Books produced by the Nordic investment banker Redeye. The hosts are Eddie Palmgren and Niklas Sävås, and they are great. Both are lifelong learners and they love books on investing.

In this show, we're going to talk about the best investment books that Eddie and Niklas have ever read. We'll find out their favorite book about Buffett. We'll also get more insights on Mr. Market, durable businesses with a competitive advantage, and the Ackman Paradox.

Important Links:
Investing by the Books podcast
Redeye

Gordon was an IT professional who took lifelong learning seriously. He joined a public utility district (PUD) because it stood for collaboration, communication, and support. Those core values at the PUD started deteriorating as a new leader focused on personal gain and power pushed for a new $8 million ERP solution without his most important team members to manage the implementation.

Gordon Graham is the author of The Intrepid Brotherhood, which provides the story leading up to the day he was pushed out of the organization. The final chapters reveal the jury's verdict on Gordon's termination.

This is a business book without trying to be like one. Readers will learn how not to manage an ERP implementation. We learn how easily corporate governance at the board level can fall apart. We also gain unique leadership and ethical insights from an IT professional's viewpoint.

Show Notes to Episode

John Seddon is the founder of The Vanguard Method and is the author of Beyond Command and Control.

In this conversation we find out which action is worse in business, commanding or controlling. John also explains demand failure, break-fix systems, and the destructive nature of budget management and arbitrary targets.

As my consulting practice started taking off about twenty years ago, I started reading everything I could by Fred Nickols, who blogged regularly for the software vendor, SmartDraw.

Fred's articles were short, to the point, and always included a simple visual framework that was easy to comprehend. I ultimately read every post on that blog.

Fred is a long-time consultant who calls himself a solutions engineer. In this conversation, we talk about his favorite frameworks and the origins of those mental models.

Devin Durrant is the author of The Values Delta - A Small and Simple Way to Make a Positive Difference in Your Personal and Professional Life.

Durrant's book is not about corporate values but personal core values, and it's a fast, easy-to-read guide that's instructive and inspiring with practical business applications too.

In this conversation, this former NBA player reveals three simple questions that can lead to transformation in our personal and professional lives.

Gaining media attention may not be an ongoing goal for many growing businesses. However, a former TV host and Emmy-award winner in consumer reporting explains that if we can pitch the media effectively, we can sell anything to anyone.

Katrina Cravy is the author of On Air: Insider Secrets to Attract the Media and Get Free Publicity. This easy-to-read book also has far-reaching applications, for presentations, pitches of any type, and YouTube videos.

This fast-paced conversation includes Katrina's impactful H.A.V.E. formula, the power pose, the seven-second rule, killer-filler words, and much more.

When we do our weekly shopping at the grocery store, finding products is relatively easy because of the way food items are grouped throughout the aisles. That's the starting point for understanding category design in any business setting.

The authors of Play Bigger did not invent category design, but these gifted marketers gave this term and its underlying disciplines a name by studying more than five thousand businesses.

In this conversation, co-author Al Ramadan explains what category design along with some of the book's biggest ideas: the 6-10 rule, points of view, and different vs. better.

You'll also hear why Mark believes this book can be a replacement for strategic planning and why he loves chapter 10 of Play Bigger.

Output, Outcomes, Impact. Those are three strong words that seemingly go well together in any context. But is there a clear difference in each term?

Josh Seiden is the author of Outcomes Over Output, and he provides one of the best definitions of outcomes I have ever heard--a change in customer behavior that leads to better business results.

In this conversation, we learn how to apply outcomes-based thinking in any business environment along with hearing about a case study that ended in positive results when applying the philosophies in this book.

I've always assumed that great financial modelers have deep backgrounds in either corporate finance or accounting. That's not the case for Lyndsey Weber who is the Senior Solutions Consultant at Quantrix.

Lyndsey's degree is in engineering management from one of the top engineering programs in the country. She started her career at ExxonMobil where she was a supply chain data analyst and an S&OP supervisor.

After some three years, she had an itch for pivoting her career into PreSales, a story I find unique, fascinating, and informative.

In this conversation, we learn the steps that Lyndsey took to prep, investigate, and apply for positions in PreSales.

Several years ago, I'll never forget when a tax partner with a Top 10 accounting firm started talking about one of his favorite books. He described the book's three pillars - marketing, production, and accounting.

I smiled because I knew the title he was talking about - In The Black by Allen Bostrom.

A few weeks prior to this episode the marketing team for this book's co-author reached out to ask if they could be on the show. The answer was a resounding yes.

Roger Knecht is the President of Universal Accounting. He's also the perfect person to explain why accounting is anything but boring. 

On Will Guidara's 12th birthday, he had the experience of a lifetime while dining with his family at Four Seasons. Less than thirty years later, Will and his co-partner of Eleven Madison Park were being lauded for the top spot of The World's 50 Best Restaurants in 2017.

Will's new book is Unreasonable Hospitality and I now call it one of the best books written on this topic. The book is part memoir and many parts of inspiration, encouragement, and instruction. 

In this conversation, Will explains the 95-5 rule, restaurant smart vs. corporate smart, pre-meal meetings, and the primary reason hospitality can be taught in any business. 

You probably know a little or a lot about a business practice called open book management. This podcast prefers the term, financial transparency.

During this episode, a CEO and co-founder of a physical therapy organization explains how he got started with financial transparency, why he did it, and how.

Dr. Arlan Alburo of Orthopedic and Balance Therapy based in rural Indiana near Chicago also explains that he shares non-financial metrics and how his team members can impact each of those critical numbers.

Think of this conversation as a mini MBA in financial and operational acumen that's practical and easy to understand.

Link to episode highlights on our website: What is Financial Transparency?

The Crazy Eddie stores of the 1980s are probably most remembered by the Jerry Carrell commercials that have been parodied in the movies, TV shows, and even by other CEOs in the past such as Steve Ballmer.

Gary Weiss is the author of Retail Gangster, The Insane, Real-Life Story of Crazy Eddie. Through Gary's research and captivating narrative, we learn the origin story of Eddie Antar and how he first started various skimming schemes to both undercut competitors and stash untaxed sales and profits in bed mattresses and overseas bank accounts.

We also learn about one of the masterminds of Crazy Eddie's IPO and the fraud that was required to support a high stock price following the public offering. Finally, we hear about how the house of cards crumbled and the family's failed attempt to take the company private in order to hide their misdoings.

Mark's Notes on Retail Gangster

As of the release date of this episode, the prime interest rate in the U.S. had surpassed six percent, nearly double the rate a few months earlier.

Are higher rates good or bad for the economy? What about lower rates? The answers may seem self-evident, but should we be over-confident with our opinions? What about the law of unintended consequences when rates are universally low for an extended period of time?

Additionally, how are rates determined? Why do they go up or down? What is the history of interest?

We learn the answers to all of these questions and more as we hear from Edward Chancellor, the author of The Price of Time.

We live in a small business world where the Chief Fractional Officer is becoming indispensable.

Before even considering hiring the Fractional Sales Manager, the Fractional Marketing Officer, or even the Fractional CFO, I'd start one hundred percent of the time with the Fractional Chief People Officer.

Susannah Robinson has worked in big-company HR for more than twenty years. Now, as the head of a fractional people agency called Partnership for Talent, she has written a simple and pragmatic guide on organizational design for small businesses. In this conversation, we discuss her new book, Beyond the Boxes and Lines.

Sophie Theen is the author of The Soul of Startups. Sophie states that there is a misconception that a company's people make its culture. Instead, that culture starts at the top and works its way down into other teams which is consistently changing. And that can lead to unplanned and unforeseen consequences for the staff working in these startups.

In this conversation, we learn about the three audiences this book is intended for. We learn that people do indeed leave bad companies, not necessarily bad bosses or managers. And we get some great advice for any person thinking about a role in a startup.

Dr. Sam Savage is the gifted teacher all of us would have loved having as our professor in stats classes.

Sam is the author of The Flaw of Averages and Chancification. During this conversation, we talk about the arithmetic of uncertainty, probability management,  and the limitations of risk matrixes. And we do it on a fifth-grade level.

Thomas Erikson is the author of Surrounded by Idiots, a book that simplifies four basic personality types using a coloring system and a two-by-two matrix.

In this conversation, we address:

• the difference between the four letters in DISC and the colors
• the purpose and role of personality assessments in the workplace
• the validity and reliability of such assessments
• the three parts of the human mind

Some people believe personality assessments are bogus. Others live and swear by them. Regardless of where you are on this spectrum, we address the questions you have about any type of personality assessment.

Can you think of a top business book exclusively for professional services firms? If so, your list is probably short and presumably headed by any title from David Maister. In this episode, a new book for this industry is introduced, The Boutique: How to Start, Scale, and Sell a Professional Services Firm by Greg Alexander.

In this conversation, we talk about elephant and rabbit hunters, the one-thirds of billings, the only three types of firms in existence, and two critical metrics that buyers of professional services firms are examining closely.

If we think the reasons for the fall of BlackBerry are an open and shut case, we need to think again. Sean Silcoff is the co-author of Losing the Signal. The book covers the rise of BlackBerry, how its foundation started cracking before Apple's iPhone came on the scene and the breakup of two iconic founders of a company that once topped $20 billion in revenues.

This interview explores some of the highs and lows in this story, a very readable narrative that also serves as a great business case study. Finally, we ask if there could have been a different ending. The ideas you hear might surprise you.

When I read a biography, I want the words to jump out by telling me something I never knew about the person that's both memorable and interesting. I want to read about the subject's impact they had on others. And, I want to be inspired.

Before reading Dirk Smillie's very readable and accessible biography on Harry Guggenheim entitled, The Business of Tomorrow, I knew nothing about this iconic family name.

While one business publication heralded Harry as the godfather of flight during his day, there is so much more about this larger-than-life historical figure of the 20th century warranting a closer look at what made him special. 

Should professionals like you and I be reading fiction and if so, why?

Dr. Christine Seifert is the author of a 2020 HBR article, The Case for Reading Fiction. While professionals typically read for knowledge, Christy provides numerous reasons and studies on how reading fiction can expand our analytical abilities along with understanding others better.

We explore terms such as cognitive agility and acuity, design fiction, openness to experience, and other big ideas revealing the power of reading fiction.

Who is Bill Gross?

Who is the guy who learned to take risks in college while scalping basketball tickets at Duke? Or who was the risk-taker who counted cards in Las Vegas?

Who exactly is the man once named the Morningstar Investment Manager of the Decade? And how was this lifelong investment professional able to see around corners during one of the country's greatest financial meltdowns during a time of bailouts and bank failures?

You may already know Mary Childs as a co-host at NPR's Planet Money, and she's also the author of The Bond King, the person answers each of these questions.

One of my favorite CFOs is Bob Lung. For the past 33 years, he's been chauffeuring players and dignitaries at the NFL's annual Hall of Fame weekend activities in Canton, Ohio.

In this fast-paced interview, we talk about Bob's favorite moments at the Hall of Fame ceremony, what it means to be a driver during this event, and a couple of special stories.

Should every business consider having its own hall of fame? We address that question along with the role of mentoring relationships in becoming a star in any field.

With the passing of the 20th anniversary of WorldCom filing bankruptcy in the aftermath of the whistle being blown on its reporting of fraudulent financial statements, I wanted to revisit Cynthia Cooper's page-turner, Extraordinary Circumstances.

Why was the fraud committed? How? What was internal audit's role in detecting the fraudulent entries created by the CFO and four members of his staff?

In this episode, Aaron Beam helps me to answer these questions as he draws on his experience in the financial statement fraud at HealthSouth. Aaron is an author and sought-after public speaker at major universities around the country.

I'm betting that over half the CFO Bookshelf listenership participate in an NCAA tournament basketball pool at the office. Accordingly, I thought I'd share a story from a basketball legend I don't think I've ever heard retold from a leadership expert during a speaking event.

I end this special episode on my three favorite basketball movies. What are yours?

What is the best book on negotiation you've ever read?

Many business readers who have read Never Split the Difference by Chris Voss would probably pick that title.

What if I said there is another title that's far more practical, ideas that you can put into practice right now? That book is Negotiation Simplified by Jim Reiman.
 
In this fast-paced conversation, we talk about the core four concepts of negotiating, the best discussion I've ever read about goals in the context of negotiating, and the 3 classes of people we have to consider in any negotiating process, Also, we hit on how to deal with bullies in the negotiating process.

The legendary Bill Campbell is called the trillion dollar coach by his biographers. Campbell coached and mentored larger-than-life business leaders Larry Page, Eric Schmidt, Steve Jobs, Marissa Mayer, and many others.

If Bill was the trillion dollar coach, then I'm not sure what to call Joe Ehrmann and his friend and fellow coach, Biff Poggi who are central pillars in the book Season of Life by Jeffrey Marx.

Little did Jeffrey Marx know that his life would be transformed forever once he stepped on a Baltimore Colts football field during training camp as an eleven-year-old. Years later, he would reconnect with Joe Ehrmann who took him under his wing during those earlier years. What was supposed to be a newspaper article about the demolition of a football field turned into a book about the building up of young men not just in football, but in the bigger game of life.

Season of Life is one of the best books I've read in years. Central themes include false masculinity, revolving integrity, the best definitions of coach and success, and a young football player's reflection on a huddle.

Can you name any recent descendants of Cornelius Vanderbilt who didn't build one but two massive fortunes during the Gilded Age? After the third and fourth generations, the money started evaporating quickly, but why?

Katherine Howe is the co-author of Vanderbilt: The Rise and Fall of an American Dynasty. During this conversation, we explore some of the fascinating stories she uncovered with her co-author, Anderson Cooper that spans six generations of the Vanderbilt family.