A Visionary Leader Committed to Empowering Startups and Driving Economic Growth!
Inspired by his father’s career in finance and his family’s property business, Louw developed a passion for finance and entrepreneurship early on. From a young age, he was driven by a strong entrepreneurial spirit. Armed with a concept plan, a simple logo, and a dedicated space for aspiring entrepreneurs, Louw Barnardt founded OCFO and embarked on its remarkable journey over a decade ago.
As Founder and Managing Director of Outsourced CFO (OCFO), his vision for the firm was born at a local Startup Grind event in Cape Town, where he recognized the need for finance professionals to support the growth of startups and small businesses.
His leadership is driven by a Big Hairy Audacious Goal (BHAG): to serve ten thousand entrepreneurial companies and impact the career paths of a thousand professionals. This north star guides the team’s efforts to provide exceptional CFO services, bookkeeping, cloud accounting, systems automation, and entrepreneurship programs.
Today, the company employs over a hundred specialists and assists over 1,100 clients, enabling businesses to achieve longevity by offering access to critical financial expertise.
By assisting entrepreneurs in developing solid financial functions for their businesses, OCFO accelerates their growth and enhances overall success, ultimately contributing to economic development, job creation, and societal transformation.
Let us explore his journey:
Louw Barnardt: A Passion for Entrepreneurship
Louw has been driven by an entrepreneurial spirit since childhood. Inspired by his father’s career as a Chartered Accountant and their family’s property business, he developed a passion for finance and entrepreneurship early on.
Finance and entrepreneurship were dinner-time conversations at his house, and he always loved them. This passion led him to pursue a Chartered Accountant designation at Stellenbosch University, where he formed lasting relationships, including with his future wife, some of his best friends, and co-founders.
He believes in the transformative power of business to impact lives and is committed to fostering sustainable growth through his leadership at OCFO.
Outsourced CFO: A Decade of Empowering Businesses
Outsourced CFO (OCFO), founded by Louw Barnardt and his co-founders, was born out of a chance encounter at a local Startup Grind event in Cape Town.
Recognizing the need for finance professionals to support the growth of startups and small businesses, the trio set out to create a company that would provide CFO services, bookkeeping, cloud accounting, systems automation, and entrepreneurship programs.
With a concept plan, a simple logo, and a spot in an incubator, OCFO began its journey over a decade ago. Today, the company boasts a team of over a hundred professionals and has served more than 1,100 clients, empowering businesses to achieve sustainable growth by providing access to crucial financial expertise. OCFO’s inception story exemplifies the power of identifying a market need and turning it into a successful venture through passion, dedication, and a commitment to supporting entrepreneurship.
Empowering Entrepreneurs, Transforming Lives
Louw has set an ambitious Big Hairy Audacious Goal (BHAG) for the company: to serve ten thousand entrepreneurial companies and impact the career paths of a thousand professionals.
This north star guides the team’s efforts to provide exceptional CFO services, bookkeeping, cloud accounting, systems automation, and entrepreneurship programs. By helping entrepreneurs build robust finance functions, OCFO aims to enable faster and more successful growth, ultimately contributing to economic development, job creation, and societal transformation. His leadership inspires his team to stay focused on the big picture and the profound impact they can make by staying true to their mission.
Strategies for Growth at Outsourced CFO
Outsourced CFO (OCFO) employs several key strategies to achieve consistent growth, doubling its organization every 12 to 15 months. Each year, the team reviews its Big Hairy Audacious Goal (BHAG) and sets a new one-year plan, supported by a three-year picture.
Quarterly, they engage in strategic off-site meetings to celebrate achievements and establish new goals. Weekly leadership meetings focus on reviewing performance metrics and addressing pressing issues, while daily standups ensure team alignment.
This structured approach keeps everyone focused on long-, medium-, and short-term objectives, enabling OCFO to maintain its impressive growth trajectory.
Innovation Drives Growth at Outsourced CFO
Louw and his team at Outsourced CFO (OCFO) prioritize innovation as a key driver of growth and success.
With “Switched On Thinking” as a core value, OCFO nurtures an innovative culture that permeates all aspects of the business, from the business model to the service offerings to internal processes.
A dedicated Innovation and AI Team supports each division in exploring and implementing new tools and technologies to make us better as a whole.
Balancing Growth and Positive Impact at Outsourced CFO
Louw embraces the philosophy that “Everything either grows or dies,” as articulated by Tony Robbins. He believes that continuous business growth enhances the company’s ability to contribute positively to the world.
“You’ve got to grow so that you can give,” he asserts. By prioritizing a people-first and impact-first culture, he ensures that OCFO’s expansion translates into meaningful benefits for employees, clients, and the community.
The company’s strong core values serve as a guiding framework, aligning the team with its mission and fostering a supportive environment that nurtures both growth and social responsibility.
Establishing the Founders’ Foundation
Louw and his team at Outsourced CFO (OCFO) have always prioritized giving back to the community. As OCFO grew and began serving larger clients, they recognized the importance of staying connected to their roots in startup entrepreneurship.
This led to the establishment of the Founders Foundation NPC, a non-profit organization dedicated to supporting young, previously disadvantaged entrepreneurs. The foundation provides essential resources, including financial guidance and fundraising assistance, to help these entrepreneurs build their businesses.
By owning a significant stake in OCFO, the Founders Foundation benefits directly from the dividends and equity generated by the company. Additionally, it receives millions in donations from corporate partners to further its mission.
To date, the Founders Foundation has played a crucial role in creating over 1,000 jobs, significantly impacting the entrepreneurial landscape and contributing to economic growth.
Strategic Leadership Council Drives Scaling at Outsourced CFO
As the business grew from a small startup to a thriving enterprise, Louw recognized the need to evolve the company’s leadership structure. When the team reached between thirty and fifty employees, the co-founders and board realized they required additional leaders to oversee the expanding divisions.
This led to the creation of the Strategic Council, comprising nine Heads of Department and the Board. The Strategic Council now serves as the driving force behind OCFO’s strategic direction and execution.
Approach to Professional Development
Louw feels fortunate to be deeply passionate about his work, which aligns perfectly with his skills and interests. To maintain motivation and foster personal growth, he conducts a quarterly assessment of his activities, identifying which tasks energize him and which ones drain his energy.
By eliminating 20% of the energy-draining tasks, either through delegation or hiring individuals who excel in those areas, he ensures that his role evolves in line with his passions.
Additionally, he actively seeks learning opportunities, such as joining the Entrepreneurs’ Organization and participating in various volunteer roles, including Accelerator Coaching, Forum moderation, and Board membership. He also prioritizes regular breaks and family holidays to prevent burnout, allowing him to stay refreshed and focused.
Journey with Entrepreneurs’ Organization
Louw is an active member of the Entrepreneurs’ Organization (EO), a global community of 19,000 entrepreneurs in over 220 cities worldwide. The purpose of EO is to move the world forward by unlocking the full potential of entrepreneurs.
As a member, he has benefited from the trust-based relationships and bonds formed with peers across the globe. Currently serving as the Strategic Alliances Chair of the Cape Town chapter board, he credits EO for its pivotal role in his life as well as the success of his business.
Lessons from Crisis
Louw has faced significant challenges during the onset of COVID-19, particularly as many clients in Cape Town’s tourism and events sectors were severely impacted.
Within weeks, the company lost a substantial portion of its client base. In response, he and his team had to quickly adapt their strategies to acquire new clients, retain existing ones, and adjust spending to align with the new economic reality. This crisis taught him valuable lessons about leadership and resilience during challenging times.
Balancing Work and Life
He emphasizes the importance of maintaining a healthy work-life balance. He views training as a foundational habit that enhances his overall well-being.
When his exercise routine is consistent, he finds it easier to engage in meditation and prayer, work with focus, and maintain better eating and sleeping habits. He avoids long hours, typically wrapping up his workday by 5 or 6 PM, and he refrains from working on weekends.
His dedicated time is spent with family and friends, allowing him to reset and recharge away from the demands of work.
Future Aspirations for Outsourced CFO and the Entrepreneurial Ecosystem
Louw envisions a bright future for the company and the broader entrepreneurial ecosystem. Following the COVID-19 pandemic, he recognizes the potential for international expansion, with OCFO having served over 1,100 clients across more than 30 countries.
The United States is a primary focus, where Outsourced CFO, Inc. has been established as a subsidiary, alongside Trigger CAAS as a sister company.
He aims for OCFO to become a dominant global player, expanding into key business hubs and serving an increasing number of clients. Additionally, he aspires to empower more entrepreneurs within the community to pursue similar growth trajectories.
Trigger CAAS: Expanding into the US Market
Louw, alongside Miami-based entrepreneur Ilan Bernstein, co-founded Trigger CAAS (Client Accounting and Advisory Services) to provide outsourcing solutions for US CPA firms facing talent shortages.
With only 1% of US accounting firms able to find sufficient talent, Trigger CAAS addresses this challenge by offering bespoke talent solutions and outsourcing bookkeeping, accounting, tax, and CFO services to a robust South African talent pool.
Trigger CAAS has been recognized as one of three finalists for the Xero Bookkeeping Partner of the Year 2024, further solidifying its role in supporting the growth of accounting firms in the US market.
Advice for Aspiring Entrepreneurs
Louw advises aspiring entrepreneurs to pursue their passions, as building a business can be challenging. He emphasizes the importance of embracing discomfort, managing failure, and surrounding oneself with supportive individuals who share a vision. Persistence is key; while the journey is tough, it is incredibly fulfilling.
