Are you a Finance manager or Finance leader in a start-up or scale-up, wanting to take a course like Financial Leadership Fundamentals but unsure how to ask your founder to fund it?

This can be quite daunting, especially in the current economic climate where budgets are tight.

However, investing in your continuing professional development not only benefits you but also greatly aids the business and the founder.

The Importance of Investing in Finance Leaders

Investing in courses such as Financial Leadership Fundamentals is crucial for several reasons. Here are the top two:

1. Upskilling for Better Leadership

Whether you're a Finance Controller, Head of Finance, or Finance Director, upskilling is essential. Founders should support this as it ensures you have the skills needed to excel in your role. Transitioning from a management role to a leadership role is a significant step, and without the right training, it can be challenging.

In start-ups and scale-ups, there is often no experienced CFO to learn from, HR departments are lean, and founders are too busy scaling the business. Investing in professional development courses provides the necessary training without straining internal resources.

2. Cost-Effective Development

Upskilling a current team member to a leadership position is more cost-effective than hiring externally.

Recruitment can be expensive, and promoting from within saves on these costs.

By supporting good employees and giving them the skills needed for career development, you not only save on recruitment fees but also benefit from their existing knowledge of the company culture and operations.  Bringing someone external into a leadership role includes a significant amount of upskilling as far as business knowledge is concerned - which also takes additional time resources.

How to Approach Your Founder

Here are some strategies to help you present your case effectively:

Approach them face to face.  

It's much easier to say "no" via email than face to face.  Get the courage to ask in your next 1:1 and then follow up with links and a summary your ask.  You're more likely to get a yes.

Highlight the Business Benefits

Explain how upskilling will improve your performance and benefit the company. Show that you’ll be better equipped to handle financial challenges, support growth, assist the next fundraise and contribute to strategic decision-making.

Emphasise Cost Savings

Point out the financial savings compared to hiring externally. Mention the high costs of recruitment fees and the time required to onboard new hires. By investing in your development, the company saves money and gains a highly motivated and skilled finance leader.

Provide Evidence

Share articles and research that support your case. For example, articles from Entrepreneur and Forbes highlight the benefits of promoting from within, such as improved motivation, higher retention rates, and quicker adaptation to new roles.

What Courses to Consider

Courses like Financial Leadership Fundamentals are designed specifically for finance leaders in startups and scale-ups. They offer comprehensive training over about 90 days, with weekly group Q&A sessions to address specific challenges and provide practical solutions. This type of on-the-job training ensures you can apply what you learn directly to your role.

Conclusion

Investing in your education through continuing professional development is a win-win for both you and your company. It enhances your leadership skills, supports your career development, and provides significant benefits to the business. Approach your founder with confidence, highlighting the advantages and presenting a well-researched case. By doing so, you’ll demonstrate your commitment to your professional growth and the success of the company.

If you want to make your finance career progress easier & faster, follow the steps via our Framework below:

1. Sign up to our next workshop.
2. Work with me in the Financial Leadership Foundations course  that includes monthly Q&A sessions where we can discuss all of your questions and how to apply your learnings to your current role. 
3. Download the Upgrade your Management accounts course to showcase your skills as a finance leader to the Founder, leadership team and the Board.