S1 E5 – Prescott Price – Cocaine, Culture, Charity #CFOchat

We meet Prescott Price, career CFO turned charity CEO of Lesson for Life Foundation. We talk about the heady nights of Media to heartfelt days of Charity. Sponsored by Vena Solutions

I am joined today by Prescott Price, career CFO turned charity CEO of Lesson for Life Foundation.

In this episode, we are going to talk about his journey as a CFO in the music industry then moving forward to his earnest passion for charity.

Remember what you are bringing to the table… you are there to help them make money…

It is a different arena being a finance professional in the music industry, and the key learning is how to present the data effectively.

As what Prescott mentioned, “When they do not understand what you are presenting, it is not their fault, it is your fault.” The best way is to keep it simple, or a narrative wherein people can relate.

Prescott’s move from telecom to charity was remarkable. There were lots of insights, he was able to do what he loves as well as give back to the community. Believing in the power of education to alleviate poverty, Lesson for Life Education focuses on education and is doing a big impact on the communities in Sub-Saharan Africa.

Listen and know more about the CFO’s role in the music industry, Prescott Price and his charity work.

Episode Quotes

“That ability to be logical and yet deal with somebody who is creative was the difference between being a good and a great finance person in music”

“You are not there to stop them spending money, you are there to help them make money”

“Remember what you are bringing in to the table, you tend to be better at working at data, it is not always about just the creativity”

“My worst ever career decision was pursuing the best promotion of my life”

“Do not do a job you do not like. You got to care about what you’re doing”

“Education is a proven way to address poverty”

“I am not sure the actual role is changing; the technology in the background has always been changing dramatically”

Listen to Learn
  • 00:14 Episode Intro, getting to know Prescott Price
  • 00:55 Quick word from sponsors (Vena Solutions)
  • 02:58 Prescott’s CFO journey in the music industry
  • 06:00 The CFO’s role in the music industry
  • 10:48 How to communicate the financial aspects with music creatives
  • 14:38 Why Prescott moved from telecom to charity
  • 18:16 “Leaving egos at the door”, Prescott’s advice for young accountants
  • 22:38 Digging deeper into the charity work, education in Sub-Saharan Africa
  • 28:17 Will CFOs still exist in the future?

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