What's it like to take over from your boss

It's challenging enough being the finance director of a fast-growing company in the current business climate, but taking over from the company's founder, himself a fully qualified accountant, is nothing less than daunting.

Still, Dynshaw Italia, 36, rarely refuses a challenge, taking on that very challenge at UK-based Cobra Beer several years ago, and most recently overseeing the business's successful inroads into establishing the brand in one of the world's fastest-growing economies - India.

Like most successful FDs, he is a risk-taker in his personal life as well as work - calculated risks, of course, but risks nonetheless. They've paid off, although he puts a great deal of his success down to chance rather than strategy.

'I have been very lucky with my career over the years, and I'm fortunate to be where I am now,' says Italia. 'I absolutely love what I do at Cobra, with all its challenges and responsibilities.'

After qualifying at a small firm, Italia, backed by the sole practitioner who trained him, went on to work at KPMG. Then the same sole practitioner contacted him three years on with a job offer to work as financial controller of the then newly created internet travel site ebookers.

'Those are the times to take a risk,' he says. 'That was the best move I made.' Within six months, the business got all the content online, raised the money needed from Nasdaq and the German stock market, and turned a business with a turnover of $1m and five employees to one with a turnover of $300m and 1,000 employees.

Just as ebookers moved into the second phase of its business model, which included raising another $100m to fund expansion, the dotcom crash hit hard, resulting in the company raising only $40m due to jittery investors. It's worth noting that the online travel business surfed the choppy waters of the crash and is still around.

At that point, Italia was offered a role at Cobra Beer. Ready for a new challenge, and having known founder Karan Bilimoria for several years professionally, he decided to take up the job offer. In 2001 he became FD, and by 2004 was chief operating officer.

All the experience he had garnered in the early years of his career served him well for his new role at Cobra, particularly his expertise in raising money - something he's becoming particularly adept at given his recent record. Last year, in order to fund the company's expansion in India, he set about raising £27.5m.

Interestingly as an FD, Italia says he has learned the most from his responsibilities in HR. 'Today's FD role is much broader. It's a people business today. Over the years, that has been my biggest strength - my ability to deal with all types of people. Change causes disruption, so the ability to manage people is important.' And it is managing and attracting the right people that he cites as one of the main lessons he has learned during his time.

'The people you work with, both internally and externally, are the most important element of any business,' he says. 'You need to surround yourself with the right people and then manage, motivate and get the best out of them.

'You can't forget that everyone is different; their personalities are different, and their cultures are different. Understanding this makes dealing with people much easier, and understanding what motivates people is crucial to success in business.'

Career tips with bite

Despite putting some of his success down to luck, Dynshaw still has a few words of wisdom to pass on to the newer members of the accountancy profession.

First, continue to train and learn at every opportunity. Ask questions and be inquisitive. Don't be afraid to ask for help.

Second, work hard to develop your people skills. Talent can take you a long way, but with good people skills you'll go even farther.

And finally, try to understand all elements of business - finance is not an independent function, but more an integrated function that is vital to all areas of business. Understanding these areas of business is therefore critical to adding value to the organisation.

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