If you don’t know who the Savannah Bananas are, you’re missing out. They are, after all, one of the most popular professional sports teams on just about every social media channel.

The Bananas showcase their unique brand of baseball to millions of followers on TikTok and Instagram — and they boast more followers than most MLB teams. From on-trend synchronized dances to “anything but a slide” demos on how to creatively reach a base, their brand and their business are anything but ordinary.

It makes sense, then, that their CFO would operate differently as well. A recent article in CFO Magazine looked at how the organization’s CFO, Tim Naddy, has adopted a unique approach to guiding the team’s financial operations. 

Though the Bananas are an unusual business, many aspects of their operations are just the same as any other company. In any business, it’s important to have a skilled, experienced CFO by your side as you tackle your challenges — or, if you don’t need a full-time leader, a Fractional CFO.

Navigating expansion

Though plans to expand the Bananas’ business model were in place before Naddy joined the organization, they wanted a financial leader in place for that process. And that’s a smart move, no matter what industry you’re in.

In your own business, having a Fractional CFO on board to help guide your expansion will smooth the way and help you avoid surprises. Having a financial leader on board to support your team can help you develop the right strategy to manage your growth. They can help you see every angle of your growth plans to make sure you always keep the big picture in mind. 

Tracking Key Metrics

In baseball, many teams track per capita spend per fan to measure success. When you’re including concessions in the ticket price, you need to bring in revenue in other ways. For the Bananas, that’s through merchandise, and tracking what fans spend is a good measure of success for their organization.

“At the end of the night, what do you want people leaving with, a hot dog or a hoodie that they’re going to wear around their friends, talk about, and share how awesome all this is?” Naddy said.

An experienced Fractional CFO can help you identify the best metrics to track in your specific business and look beyond traditional reports and KPIs. Every company is working toward its own goals — a Fractional CFO with deep, varied experience has seen different approaches and can help you find the right strategies for you.

Helping guide more than just finance

Naddy is the financial leader for the Bananas, but he doesn’t shy away from helping other areas of the organization with their concerns, according to CFO Magazine. A good CFO’s expertise extends beyond dollars and cents. 

A Fractional CFO can work in your business the same way, helping you make the right decisions regarding everything from mergers and acquisitions to aligning sales commission plans with your company goals. 

Deepen your bench for more wins

Like Naddy and the Bananas, it takes the right experience and mindset to take the lead on financial strategy. But you don’t have to have a full-time CFO to make it happen. 

Our Fractional CFOs are experienced in guiding Kansas City businesses and helping them navigate challenges that can be anything but typical. Whether you’re looking to grow or change strategies, contact Mike DeMaio at [email protected] to find out how we can contribute to your team.