Investing in People And Build a Thriving Treasury Team

This is a YouTube video titled "Investing in People And Build a Thriving Treasury Team" containing a monologue or talk from May 30, 2023, discussing the role of independent business operators in franchising, the evolving strategic role of treasurers, and the importance of relationship-building and rigorous decision-making in organizational leadership. The speaker addresses topics related to franchise value creation and career development in treasury roles.
Foreign Chise are independent business operators. They make their own independent business decisions. There's some things that are mandated across the brand for consistency purposes, like, you know, the logo that's on the door and some food preparation procedures and things like that. But for the most part, they are independent business operators and we want them to be there. The question really becomes, can you offer them to do something for them that creates value for them that they elect to do with you? So you could offer them a service and say, well, of course I could go out and I could source that service or product, or I could negotiate on your behalf. Most of the time, almost all of the time, they would be asking for that or we would be offering that and they would be something they would elect to do. We don't hit them over the head and say, you have to go do that thing or that other thing. I think the secret sauce really is to be able to provide value to them in a way that they. That resonates for them and they want to accept that. That could be in a lot of different ways, negotiate contracts with vendors. It could be more creative things. And I think what's important is that we're always looking for those opportunities. Where could we do something that creates value for a franchise organization that they are going to want to come to us and have us help them with that? Because at the end of the day, you're right, Mike. If we help them be successful, ultimately we're all successful. I think the role of the treasurer in the organization, any organization, has become a lot more strategic over the last few decades. And big CFOs lean on the treasurer now for thought, leadership and strategic thinking in ways that I would not have predicted 25 years ago at the beginning of my career. So for me, again, I fell into this early on. I kind of just needed a job at that time and fell into a job that I liked and. But it turned into a career because like you said, the role is never boring. It's always interesting, it's always engaging. And it's continued to evolve quite substantially over the course of my career, which has always sort of kept the learning curve from flattening out, which is primarily what's kept me interested. I just keep learning stuff and being able to hopefully add value to my employer. And so at the end of, it has evolved a lot and that's really kept it super interesting. It's tough to get to know people through a short interview process. I would say that relationships and networking is an important part of how you find folks in the first place, but you also want to make sure that when you meet people that you spend the time, you give them access to multiple people with multiple perspectives in your organization, and you spend the time to hopefully make the right decision for them and for you. And, you know, I think at the end of the day, you'll never get those positions. All right. Or those decisions, rather. All right. I think you got to get them a lot more right than wrong, and you got to make sure there's rigor in your. In your process.
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