Fifth Ridge Ventures

The Question Nobody Asked

I recently spent two weeks in Europe on a solo motorcycle trip, riding 2,725 kilometres and meeting a lot of people along the way.

Something interesting happened during those two weeks.

Almost nobody asked me what I do for a living. At first, I didn't really think much about it. But as the trip went on, I realized how refreshing it was.

At home, a lot of my conversations naturally involve business. I'm a Fractional CFO and accountant, so when people ask what I do, the conversation often turns to business, finance, accounting—and occasionally the inevitable tax question.

For two weeks, I got to disconnect from that title.

Conversations were about motorcycles, travel, places we'd been, where we were going, food, history and life. Nobody particularly cared what was written on my business card or LinkedIn profile.

I'm also a volunteer firefighter. When that came up, I genuinely enjoyed talking about it. I have stories to tell, experiences to share, and a lot of passion for that part of my life.

But what struck me wasn't that one title was more interesting than another. It was how nice it was not to need a title at all.

We spend a huge portion of our lives building careers and businesses. We introduce ourselves by what we do. LinkedIn itself is largely built around our professional identities. And there's nothing wrong with being proud of that—I certainly am.

I love the work I do as a Fractional CFO and the opportunity it gives me to work alongside business owners and help them make better decisions.

But stepping away from that identity for two weeks reminded me that our careers are only one part of who we are.

Sometimes it's good to be the accountant. Sometimes it's good to be the firefighter.

And sometimes it's good to just be the guy riding a motorcycle through Europe, meeting interesting people along the way.

If nobody asked what you did for a living, what would you want them to learn about you instead?

I'm Coming Home and Unsubscribing

After two weeks away on a solo motorcycle trip through Europe, I came home with a slightly unusual item on my to-do list:

Unsubscribe from a lot of emails.

Over the years, I've subscribed to countless newsletters, business updates, blogs, and mailing lists. Often it wasn't because I desperately wanted another email in my inbox. I knew the person, liked what they were doing, or simply wanted to support them.

But here's the reality.

Most of them I don't read.

They arrive. I glance at the subject line. Tell myself I might read it later. Eventually I delete it.

Then another one arrives next week.

At some point, supporting someone's newsletter by repeatedly deleting it isn't really accomplishing much for either of us. In fact, I've noticed that when there are enough of them, I actually start to resent seeing them—which certainly wasn't the intention when I subscribed.

Being mostly disconnected from email for two weeks made me realize just how much noise we've allowed into our working lives.

And it's not only newsletters.

Notifications. Updates. Meetings. Group chats. Reports. Social media. There is an almost unlimited number of things competing for a very limited amount of our attention.

As a Fractional CFO, I spend a lot of time talking with business owners about how they allocate scarce resources—cash, people, time and capital.

Maybe attention deserves to be on that list too.

I'm not suggesting newsletters are bad. There are several I genuinely enjoy and will continue reading. But I'm becoming much more deliberate about what earns a place in my inbox.

And when it comes to maintaining professional relationships, I'd increasingly rather have a real conversation. Maybe instead of sending each other another newsletter every week, we get a few people together once a quarter for a call, share what's happening in our businesses, exchange ideas, make introductions and see where we can help each other.

Less passive networking. More actual conversation.

So I'm doing some unsubscribing.

Not because the content is necessarily bad—but because everything we say yes to takes a little attention away from something else.

And just like money, I want to be more intentional about where I spend it.

What have you removed from your business or working life because it was creating more noise than value?

I Didn't Realize How Fast I Was Living Until I Slowed Down

I recently returned from two weeks in Europe on a solo motorcycle trip—2,725 kilometres of riding, exploring new places, and having very few places I actually needed to be.

Somewhere along the way, I realized something unexpected:

I had slowed down.

Which admittedly sounds a little strange considering some of the roads had speed limits of 140 km/h.

Apparently, you can slow your life down while still moving pretty quickly on a motorcycle.

At home—and especially in business—there is always something demanding our attention. A client needs something. An email comes in. There's another meeting, another decision, another deadline, another problem to solve.

It's very easy to spend an entire week working in the business without ever creating enough space to think about the business.

On this trip, that noise gradually disappeared.

I could sit a little longer over breakfast. Stop the motorcycle because something looked interesting. Change my route because I felt like it. Sit on a terrace with a book. Or just ride for a few hours with nothing on my agenda other than the road ahead.

And I started noticing more.

People. Conversations. Places. Ideas.

Even returning the motorcycle turned into an interesting conversation with the woman who runs the company with her husband. We discovered some overlap between their primary business and work I've been involved with back home. We exchanged information, and perhaps something comes from it—or perhaps it doesn't.

But it reminded me of something I see in business all the time.

When we're constantly reacting to what's immediately in front of us, we don't always leave ourselves enough room to see opportunities—or think about where we're actually going.

As a Fractional CFO, part of my job is helping business owners step outside the day-to-day numbers and look at the bigger picture: Where are we going? What's working? What isn't? And where should we be spending our time and resources?

This trip reminded me that sometimes we need to do the same thing with our own lives and businesses.

I'm certainly not planning to live at vacation speed now that I'm home. But I am going to try to protect a little more space to think.

Because being busy and moving forward aren't necessarily the same thing.

As a business owner or leader, when do you create the space to step away from the day-to-day and think about the bigger picture?

What Two Weeks Away From My Business Taught Me

For the first time in probably 15 years, I took two full weeks away from my business.

I headed to Europe for a solo motorcycle trip—two weeks, 2,725 kilometers on the bike, and a chance to explore at my own pace.

I'll admit, it took some work to make that happen. Before leaving, I spent a lot of time getting ahead on client work, making sure the important things were covered, and putting things in place so that very little would need my attention while I was gone.

And it worked.

I checked my email only a handful of times over the two weeks. There were things happening back home, of course, but nothing that couldn't wait. I've joked with clients and colleagues for years that “nobody dies in accounting.” Sometimes we need to remind ourselves that not everything is as urgent as it feels in the moment.

But one of the more interesting things happened when I wasn't working at all.

I spent a lot of time simply riding. When you're alone on a motorcycle for hours, you're focused on the road, but your mind also has room to wander. I wasn't trying to develop a new business strategy or solve a client problem, yet ideas kept coming to me.

Ideas about my business. Things I could do differently. Thoughts about where I was spending my time—and what deserved less of it. And some clarity about what I want the next chapter of my business and my life to look like.

Taking two weeks off wasn't some magical solution, and I'm certainly not coming home planning to stop working hard. I enjoy what I do.

But I did come home with a reminder that working harder isn't always where the next good idea comes from. Sometimes you need enough distance from the day-to-day work to see things differently.

As a Fractional CFO, I spend a lot of time helping business owners think about where they're going, not just where they've been. This trip reminded me that occasionally we need to create that same space for ourselves.

When was the last time you really stepped away from your business or career? Did the distance give you any unexpected clarity?

Here are the top 5 signs it might be time to bring in a fractional CFO:
• You’re growing fast—but flying blind on cash flow.
• You’re making big decisions without solid financial data.
• You’re spending too much time in the weeds of your finances.
• You’re preparing to raise capital, secure financing, or expand.
• Your financial reporting doesn’t tell you what you actually need to know.

A fractional CFO helps you move from reactive to proactive—bringing clarity, strategy, and leadership to your financial decisions, without the full-time cost.

If this sounds familiar (for your business or someone you know), feel free to reach out. Always happy to have a conversation.

Here are some quick and useful financial rations at your finger tips!

Starting the week with a little tax humor! Because sometimes, the only loophole we can find is the one leading straight to the coffee machine! ☕️

I’ve often been asked what the role of a CFO is and how I could help in various areas of the business. Here is a brief summary of specific areas of business and what the CFO role entails. I’m always happy to elaborate so feel free to contact me directly.

Human Resources

The CFO’s involvement in human resources (HR) typically centers on budgeting for compensation, benefits, and talent acquisition. The CFO works closely with the HR department to ensure that the company’s workforce strategy aligns with its financial capacity. They may also provide insights into cost-effective benefits and incentive structures.

By overseeing HR-related financial aspects, the CFO ensures that the organization can attract and retain top talent while maintaining a sustainable cost structure. Their role is a blend of strategic oversight and detailed financial analysis of workforce-related expenditures.

The Crucial Role of Regular Accurate Financial Reporting for Business Success

Wrote this article back two years, but the importance still stands: Accurate and regular financial reporting is the foundation of business success. From ensuring tax compliance to building trust with stakeholders, it’s a crucial element in securing financing, tracking trends, and making informed decisions. Stay transparent, stay informed, and stay ahead.

In today's dynamic business landscape, companies operate in a complex environment where accurate financial reporting plays a pivotal role in achieving sustainable growth and ensuring long-term success. Regular and precise financial reporting provides essential information that helps businesses comply with tax regulations, secure financing, understand trends, and make informed decisions for the future. It is important to consider the importance of maintaining consistent and accurate financial reporting practices.

Tax Compliance:
One of the primary reasons why regular accurate financial reporting is essential for any company is tax compliance. Tax authorities require businesses to submit accurate financial statements to determine their taxable income and assess their tax liabilities. Accurate reporting ensures that businesses fulfill their tax obligations and avoid potential penalties or legal consequences. By providing comprehensive financial records, companies can demonstrate transparency, build trust with tax authorities, and maintain a positive reputation within the regulatory framework.

Financing Opportunities:
Another significant advantage of regular accurate financial reporting is its impact on securing financing. Whether a company seeks loans, investments, or partnerships, lenders and investors rely heavily on financial statements to evaluate a business's creditworthiness and performance. Accurate financial reports provide an overview of a company's financial health, profitability, and solvency, enabling potential stakeholders to make informed decisions. Moreover, financial institutions often require up-to-date financial statements as a prerequisite for granting credit or funding, underscoring the importance of timely and accurate reporting.

Understanding Business Trends:
Accurate financial reporting serves as a compass, enabling companies to navigate their business environment effectively. By tracking key financial metrics over time, businesses gain insights into revenue patterns, expense trends, profitability ratios, and other critical indicators. These data points facilitate the identification of strengths and weaknesses, enabling management to make necessary adjustments and optimize operations. Regular analysis of financial reports aids in identifying market trends, customer preferences, and shifts in demand, allowing businesses to adapt proactively and stay competitive.

Informed Decision-Making:
The ability to make informed decisions is crucial for any business, and accurate financial reporting provides the foundation for such decision-making. Financial statements serve as a comprehensive record of a company's financial position, enabling management to evaluate performance, set realistic goals, and develop effective strategies. By analyzing accurate financial reports, companies can identify areas where costs can be reduced, investments can be made, or operational efficiencies can be improved. This information empowers management to make informed decisions that align with the company's long-term objectives, leading to improved profitability and growth.

Stakeholder Confidence and Transparency:
Accurate financial reporting enhances stakeholder confidence by demonstrating transparency and accountability. Shareholders, investors, and potential partners rely on financial statements to evaluate a company's financial performance and gauge its ability to generate returns. Regular and accurate reporting instills trust and credibility in the company's operations, fostering stronger relationships with stakeholders. Open and transparent financial reporting practices also contribute to maintaining a positive corporate image, attracting new investors and reinforcing existing partnerships.

Conclusion:
Regular accurate financial reporting is a fundamental pillar of successful business operations. It ensures compliance with tax regulations, enhances financing opportunities, provides insights into business trends, and enables informed decision-making. By maintaining accurate financial records, companies can navigate the complexities of the business landscape, make strategic choices, and build trust with stakeholders. Embracing robust financial reporting practices paves the way for sustainable growth and positions businesses for long-term success in an ever-evolving marketplace.

End of the week! Heading into the weekend with a little humor to wrap up the grind. Enjoy the weekend, folks!