In this episode of Value Drivers, we welcome Dan Hilton, the CFO of BluMetric (Ticker: BLM), a Canadian environmental consulting and water technology company. Dan shares his extensive experience spanning over 30 years in both startup and established technology firms. He discusses his varied career, which includes serving on both public and private company boards, involvement in the Canadian artificial heart program, running the Conservative Party of Canada, and numerous successful M&A transactions. Dan delves into the role of a strategic CFO, emphasizing a balance between risk-taking and financial prudence, the importance of understanding and storytelling in finance, and managing organizational growth while maintaining culture. Additionally, Dan provides insights into BluMetric's business model and their work in water and wastewater solutions, as well as his thoughts on the future of work and the impact of AI in finance.
Key Takeaways
1. Risk Management and Strategic Boundaries: Understand the operational boundaries, assess risks, and understand potential outcomes to set a baseline for the organization.
2. Catalyst for Growth: A successful CFO should encourage calculated risk-taking and foster creativity within the organization to fuel growth.
3. Deep Business Understanding and Storytelling: Develop a deep understanding of the business to make informed decisions and communicate effectively with the market. Effective storytelling is rooted in a deep understanding of the business.
4. Prioritizing Culture and People in M&A: In M&A, prioritize culture and people over financial metrics. Forcing an acquisition without considering culture can lead to loss of talent and value destruction.
5. Building Trust in M&A: Building trust with the seller is important in M&A. Spend the time to get to know the people on the other side of the table .
6. Continuous Learning: Embrace continuous learning , and don't be afraid to explore opportunities outside your comfort zone .
Chapter Summary
(01:00) Introduction of Special Guest Dan Hilton
(05:30) The Role of a Strategic CFO
(12:16) Understanding BluMetric
(17:54) Managing Company Growth and Culture
(25:23) Insights on M&A Transactions
(34:22) Final Thoughts and Book Recommendations
Book Mentioned in this Episode
Thinking, Fast and Slow by Daniel Kahneman
https://www.amazon.com/Thinking-Fast-Slow-Daniel-Kahneman/dp/0374533555
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Please note that information provided in the podcast is for informational and educational purposes only and is not a recommendation to take any particular action, nor an offer or solicitation to buy or sell any securities or services presented. It is not investment advice. Brio360 does not provide legal or tax advice.
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