The Key Role CFOs Play in Making Profitable Pricing Decisions with Steve Rosvold

Steve Rosvold is the founder at CFO.University, a global professional development community dedicated to growing finance leaders by providing tools and learning opportunities suited to individual needs. Its focus is on delivering practical, convenient, performance enhancing learning, economically. Its community is made up of Member-Scholars, Companies, and Trusted Advisors committed to the development of finance leaders.  In this episode, Steve shares what CFO University hopes to help CFOs in terms of value-based pricing and not just setting the margin, and tapping its influence on the entire company to give more value to the organization.    Why you have to check out today’s podcast:  Find out about CFO University and the education they provide around value-based pricing for CFOs so they become more creative and innovative in providing a more positive influence on pricing to the company Learn how Sales, Marketing, and Finance can create a cooperative and collaborative dynamic that boosts value to the company Find out where CFOs can find opportunity to learn more value in discrete products and product portfolios that work   “Learn the language of your sales and marketing teams and use that to help define what they need, and go out and get the data for that.” - Steve Rosvold    Topics Covered:  02:17 - What do CFOs generally think about Pricing  03:30 - CFOs’ reaction to an article published about value-based pricing  04:53 - The hard work that goes into educating CFOs about value-based pricing  05:54 - The reason why CFOs don’t emphasize pricing  08:20 - Learning how to test the value rather than just setting the margin  09:32 - How the cost part is the CFOs domain in the past  11:04 - The whole strength of the CFO  13:16 - What CFOs do a really good job of  14:46 - Creating a collaborative effort among Sales, Marketing, and Finance  17:13 - Not doing it the way they should be doing it  18:32 - What scares people of the CFO  20:26 - Where CFOs have to learn more about value in pricing  21:56 - Steve’s pricing advice that will impact your business  23:27 - When do financial transformation takes place    Key Takeaways:  “We're frankly learning about how to test the value, rather than set the margin.” - Steve Rosvold  “I think that whole customer journey, the Finance teams can help a lot with the data they have, and help influence and really give insight to the marketing, the pricing, and marketing teams.” - Steve Rosvold  “There's been a kind of a contentious dynamic where it really should be very cooperative and collaborative. And then if we get to that point, now we've got this super power being created between Finance and Sales, and Marketing that boost value in companies.”  - Steve Rosvold  “The whole idea of looking at net present values and future cash flows, we're great at that, but that's the big picture, looking at other companies. When it comes to these discrete products that we're selling, and trying to put a portfolio of products together that works, I think CFOs aren't very strong in that generally. And there's an opportunity there.” - Steve Rosvold  “Transformation takes place when value goes up, and costs go down. It's two levers and both have to happen. So, we're really forcing Finance people to really get on the value side of things, whether that's products or their services or systems or whatever.” - Steve Rosvold    People/Resources Mentioned:  Andrew Codd   Connect with Steve Rosvold:  Website: https://cfo.university/  LinkedIn: https://www.linkedin.com/in/steverosvold/   Connect with Mark Stiving:  Email: [email protected] LinkedIn: https://www.linkedin.com/in/stiving/