You may not have heard of Cotopaxi. But you have likely heard of similar companies doing something different- Ben & Jerry’s, Allbird, Patagonia, and BrewDog.
What these companies have in common is B Corp certification. This is awarded to businesses for meeting the highest standards of accountability when it comes to social and environmental impact. Last year Cotopaxi also gave away $1.3million in donations as part of its pledges.
But how does an FP&A team work to advance this mission? How can FP&A work to achieve goals which are ultimately not about maximizing shareholder wealth.
Cole Dixon is FP&A Director at outdoor sports company Cotopaxi which has a tagline of Gear for Good on its high performance and eye-catching gear. For Dixon, the FP&A function at the company is central to “upholding a mission of our founders Davis Smith and Stephan [Jacob] that Cotopaxi can get us exploring and make a positive impact on other people’s lives. So we’re really truly committed that all of our products can be repurposed and that we prioritize human rights.” 
Every FP&A metric – units per transaction, average order value, average store volume, the inventory returns for stores – also incorporates the company-wide mission.
Listen to the fascinating story from Cole Dixon in this week’s FP&A with Cole Dixon and Paul Barnhurst.
In this episode Cole reveals:
The Ecommerce metrics and FP&A role that helped Cotopaxi to open stores during the pandemic
How FP&A partners with marketing to succeed in new ventures, such as the outdoor gatherings (Questival)
How Cotopaxi handled scenario planning and cash flow planning as stores closed during the pandemic
How he dealt with his biggest failure at Skullcandy, the lifestyle audio brand where he managed FP&A prior to Cotopaxi
How to build an FP&A team from scratch as he did at Cotopaxi
The importance of constantly “looking forward” to finding new values for in FP&A

Watch the full show on YouTube.
Read the full transcript and blog
Follow Cole Dixon on LinkedIn 
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