A life-long learner, Robert Mitchom III now uses that learning to assist businesses with their financial planning and strategies.
What’s your story?
My journey started off working in banking when I was 18 years old, straight out of high school. I was there for 10 years before starting my career in accounting/finance. My career took me to California, where I worked for a couple of startups in tech and restaurants. Then I worked for a couple of PE companies and small- to mid-size organizations looking to grow their businesses,expand their footprints and exit. I also completed my Doctorate in Business Administration with a focus in accounting. I also started my own CFO consulting and advisory firm. My career spans over 25 years.
What excites you most about your industry?
Finance and management consulting are progressively merging with vital AI infrastructure. There is an increasing demand for fractional CFO and advisory services, attributed to a shortage of qualified accountants and the high costs associated with hiring a full-time CFO. Furthermore, the emergence of AI has intensified the need for robust leadership and highlighted the significance of thorough strategic planning.
What drives you in your career to push beyond what other people consider normal?
What drives me is wanting to be the best and make a difference in an organization. Also, I want to lead teams and be an important part of a company’s decision-making. I am passionate about helping people reach their goals and dreams through my knowledge and experiences. Another thing that motivates me most is the chance to take on new challenges and push myself out of my comfort zone. I will embrace being comfortable being uncomfortable.
What have been the most useful skills you have learnt and applied in your journey?
Learn as many different things as you possibly can. I learned not only financial accounting and M&A but also data analytics, AI, leadership, quantum computing, and more. This will make you someone people can’t say no to for certain positions and roles. Become a person who will make it hard for a hiring manager or someone of influence to say no to, or to say you are not qualified to do a certain career.
What’s the best piece of advice you ever received?
I am a Knicks fan who recently won an NBA title. During the finals, they were down 29 points in game four of a best-of-7 series. They came back to win the game on a last-second shot and eventually won the title. The team’s leader was asked whether he had thought about giving up during the game. He said he thought about it but didn’t let that thought win out. The lesson is that failure is not an option, and we can accomplish anything with time and effort. Don’t think about giving up on your dreams; there is still time.
Who inspires you?
My wife and three sons inspire me. My wife has been with me through the ups and downs of my career and moved across the country to support me. She has also taken a larger role in helping me complete my doctoral studies. My goal is to build a company for our family to help shape and leave them with a legacy.
What have you learnt recently that blew you away?
High-level achievers don’t listen to outside noise and work hard to accomplish their goals. There is a ton of failure on the road to success, and we should embrace the lows until we reach our goals. Also, don’t let failure define you; learn from it and grow into a better person. Being resilient is a critical component of success and how high-achievers win in the world today.
If you had your time again, what would you do differently?
I would enjoy the early-career process and not put so much pressure on myself to move up the ladder quickly. I would also try to connect with more people who could unlock opportunities that I could capitalize on today. I would not have been so content in my first job and would have leaped sooner to pursue other opportunities better suited to me. I think I missed out on opportunities to meet other people who could have better supported my career aspirations.
How do you unwind?
I was appointed an advocate with IBM Quantum to help develop and research new quantum computing techniques through Qiskit. I enjoy trying to learn difficult and impossible tasks that most people find impossible. I also like to take courses on Coursera in Python, QML, and SQL to learn to code. I also like to play sports, basketball, and to take up golf soon. I also love to play catch with my three sons.
What is a major mindset change, belief shift or ‘ah ha’ moment that you’ve experienced in relation to your career?
In the early stages of my career, while I was still acquiring knowledge, I encountered mistakes and faced challenges in various tasks. I came to understand that failure serves as a valuable learning opportunity that can be applied to future endeavors. My current position is a result of numerous failures along the way. Additionally, I experienced a sense of stagnation at my first job, where opportunities for advancement within the industry were limited. Recognizing that not everyone is inclined to support career progression was a pivotal moment that enabled me to advance.
Everyone in business should read this book:
The book that everyone in business should read is: The Hidden Habits of Genius by Craig M Wright – being a genius is more than work ethic and intellect.
The author identifies more than a dozen drivers of genius, as well as patterns of behavior common to great minds throughout history. Brilliant insights that change the world are never sudden, but rather, they are the result of unique modes of thinking. Also, the habits of mind that produce great thinking and discovery can be actively learned and cultivated. These insights are critical when it comes to boardrooms and executive level decision making.
Shameless plug for your business or career:
Mitchom Consulting Advisors has assisted numerous businesses in enhancing their cash flow by focusing on budgeting and strategic planning. We have improved relationships among the board, CEO, and CFO by facilitating a better understanding of the organization’s current financial position and the steps needed to advance its long-term strategic plan. We welcome the opportunity to discuss your business needs and support your company’s growth from early-stage to maturity.
How can people connect with you?
I can be reached at rmitchom@mitchomconsultinggroup.com for any consulting or board advisory inquiries.
Social Media Links?
www.linkedin.com/in/dr-robert-mitchom-iii-mstax
This interview is part of the CallumConnects series.