November 21, 2011, 11:28 AM — -- Name: Jon Engman
-- Age: 47
-- Time with company: 3 ½ years
-- Education: BA, Business Administration/Accounting; Cum Laude and Phi Beta Kappa
-- Company headquarters: Seattle
-- Number of countries: U.S., Canada, Australia
-- Number of employees total: 85
-- Number of employees the CFO oversees: 7
-- About the company: Sesame Communications provides cloud-based patient connection systems for the dental industry, offering a suite of tools including website design, patient reminders and software. More than 5 million patients use Sesame services to communicate with dental providers. The company's website is http://http://www.sesamecommunications.com/
1. Where did you start in finance and what experiences led you to the job you have today?
Out of college, I started as a public accounting auditor at Arthur Andersen in Seattle in the mid-'80s. It wasn't too long that I knew I didn't want to stay around for partner, but it was an excellent training ground, since you "parachuted" into different companies every month or so and had to come up to speed on their business and accounting systems very quickly to be effective. A lot of people treated it like it was an MBA, without getting the formal educational distinction.
From there, I started working for early to middle-stage technology companies and found that I really liked that type of environment. You have a chance to set the rules and procedures and it's very dynamic. It is essential to venture out across business groups, within the company, to be an effective financial executive. You have a real good opportunity to have a large impact on the business. Sesame Communications fits the prototype of businesses I've worked for or sought out, so that's why I'm here.
2. Who was an influential boss for you and what lessons did they teach you about management and leadership?
There have been a number of people who have influenced me, but I must say that my first job out of public accounting and its CEO has had the most impact on my career to date, since I've been using those teachings the longest. I went to work for this country's first PC-based voicemail manufacturer in 1990, and two weeks later, a turnaround specialist, Dick LaPorte, took over as CEO. It wasn't long before we downsized from 110 to 65 people and he established very aggressive technology development and other key strategic and operational goals. Far more was being asked of the team in the coming 12 months than it had delivered in the past two years -- with much less people. Then, we went out and delivered. He had a great way of making the goals clear and establishing enthusiasm across the company to get the job done. The company went from an unprofitable $10 million a year company to a highly profitable $50 million a year company, with a successful IPO in four years.
The basic formula was: bring in a strong management team; set aggressive, but achievable goals; hold people accountable; build momentum (or "wins") from incremental progress; reward the personnel when they deliver; and stick to "the plan." It's easy to abandon a plan in a very dynamic environment, but it is absolutely critical to stay the course if you've done a solid job on the strategy.
Our new CEO, Diana Friedman, I think believes in this formula as well, and we're already seeing great positive changes at Sesame within a year of her taking over.
3. What are the biggest challenges facing CFOs today?
Before 2008, the financial markets were relatively consistent. Sure, you had your stock-market volatility, but the rest of the financial system and infrastructure was somewhat predictable. The rules were set on how to achieve financial success and how to leverage the system to help achieve that success. In the last couple years, a lot has changed. The same rules don't apply. CFOs have to be very creative and resourceful to ensure the enterprises for which they work remain viable operating entities.
4. What is a good day at work like for you?
I think everyone likes to "win." A good day for me is getting one of those wins. Usually that means something I've done or supported has turned out to be very successful -- we developed the right plan or solution, executed well and we are reaping the rewards. A good day for me can come from any win across my team or the company. Again, we all like to win and at the end of the day, we are all on the same team at Sesame, so the victories should be shared.
5. How would you characterize your management style?
