Carl was interviewed by AdvisoryCloud on 06/24/2019 as part of our Featured Advisor Interview series.
AC - Tell us more about your main areas of expertise for being an advisor?
CY - My experiences are uniquely different. My business experience started as Chief Accountant of a high growth technology-based business that prepared income tax returns for professional tax preparers with mainframe computers. I remained the company for 19 years and rose in rank from Chief Accountant to Chief Financial Officer. The company increased annual revenue from $10M to $275M. My staff increased from 6 to 135. I managed the design and development of finance & accounting systems, processes, procedures, controls for this high growth company. This provides my unique ability to assist other companies in these critical areas.
I have experience with a major consulting company as Senior Financial Associate, establishing major financial frameworks for major engagements up to $1B over five years. Most of this experience was in the energy and health industry
I am also a former business owner that turned around a small precision parts manufacturing company from a losing enterprise to one of productivity & profit.
I taught accounting on the University level for 15 years and noticed the fear and myths most possess about accounting. This experience propelled me to establish a tone of simplicity about accounting and focus on a brand of making finance & accounting simple, especially for non-financial professionals. I honed these skills in live seminars for national seminar companies to rave reviews by attendees. This simplicity brand continues in a series of financial webinars currently produced under the banner of Webinars Worth Watching Simplified!
All these unique experiences position me to provide high value to companies on an advisory level on a variety of fronts. They also have developed my customer service skills to recognize how to understand customer requirements and seek to meet and or exceed expectations. I am very customer focused.
AC - Describe your main motivation for being an advisor?
CY - I have substantial expertise and to share with others to help them become successful in their business venture or pursuit of their dreams. My experiences are wide-ranging and cover a variety of skills. I can touch most areas of an organization with value, adding advise, and assistance.
AC - Elaborate on the types of situations, challenges, or decisions, you feel you could add the most value to as an advisor?
CY - I like solving complex business & organizational problems involving finance & accounting systems, processes, procedures, controls. The tougher the problem, the more I am attracted to it. I thoroughly enjoy solving complex issues that may involve personnel & organizational matters. My graduate studies were in Organization & Management. I am particularly attracted to change management and helping non-financial personnel understand and apply simple tools, techniques methods, and models heretofore thought to be complex. This includes organized training efforts in finance & accounting topics specified by the organization.
AC - Do you see any disruptive trends on the horizon in your industry or position?
CY - The big elephant in the room in technology. It provides endless possibilities. We must learn to harvest and use it as enablers to processes & procedures. The keys are data analytics, information vs. reporting, dashboards, and focusing on the future impact of Key Business Drivers. There is a lot of data available that can be used to improve productivity & profits. We must learn to maximize these possibilities. This moves away from traditional tools & techniques to a new age of technologically driven methods.
AC - Tell me about the most impactful project or decision you’ve been involved in as an executive.
CY - As Controller/CFO of the computerized income tax return processing company, we have to be extremely flexible in the utilization and application of resources. We had pre-tax season expenses in Oct-Nov. We earned all our revenue during the final eight weeks of the tax season. We have to follow critical paths in our projections relative to the customer, units, prices, supplies, and labor, all key drivers, and success factors. We employed upwards of 7,000 temporary employees during the tax season.
The traditional financial statements were inadequate to manage this extremely dynamic environment in real time. We needed up to date information on Key Business Drivers on a frequent (weekly) basis. I created a Financial Information Management System (FIMS) that provided critical financial information on Key Business Drivers on a weekly basis. FIMS became the financial management tool of choice for our team and greatly assisted us to be profitable and productivy in this very dynamic ever-changing environment.
The growth of the company required us to add substantial sales force-Three regions & Twelve Divisions. I designed a Commission Entitlement & Payment System (CEPS) that interpreted the commission plan and provided accurate and timely payments to sales personnel.
I once gave a 4-hour seminar for a University to a group of visiting Chinese business people on Business Management. The presentation was given through an interpreter and won me a standing ovation from the attendees. I was convinced at that point of my unique ability to translate complex business, finance & accounting theories into platforms that can be easily understood by all.
If you are interested in speaking with Carl Young about this topic or others, you can book a meeting with him through his AdvisoryCloud profile here: I guarantee I will do all I can to meet and or exceed your expectations and be a viable value-adding resource to your company team. https://www.advisorycloud.com/profile/Carl-Young