Becoming a Chief Financial Officer (CFO) is often the ultimate executive goal for those who have made finance their career. The position offers challenges, variety, and opportunities for growth. A good income is frosting on the cake.
by Kevin Briscoe, on May 23, 2019
Becoming a Chief Financial Officer (CFO) is often the ultimate executive goal for those who have made finance their career. The position offers challenges, variety, and opportunities for growth. A good income is frosting on the cake.
by CFO Selections Team, on May 13, 2019
Large, established companies usually have a full-time Chief Financial Officer (CFO) as an integral member of their executive team. Your business might not be in a position yet to add a CFO to your executive suite. Or you might be ready but finding just the right person takes time. Perhaps you’re not quite sure what to expect from a CFO, and you need to learn more about what they do before hiring one.
by Larry Breitbarth, on Apr 9, 2019
For business owners and executives working toward an exit from their company, a CFO who is skilled in the entire lifecycle of a business transaction is invaluable. An experienced CFO will take the steps needed to increase the value of the company. By focusing on the drivers that increase value today, the business will become worth more to a buyer in the long-run. As a result, the owners will be able to exit with more profits than those who take a short term or last-minute approach.
by CFO Selections Team, on Mar 25, 2019
If you're a business owner or CEO, you need some kind of financial guidance. Maybe you create addicting video games for smartphones, run a local real estate agency, or are a health services provider. No matter what your trade involves, being in business can be a challenge.
But unless you run a CPA firm, you probably didn't go into business to stare at numbers and comply with financial regulations. These are often perceived as a pain, but they are a necessary piece of any successful endeavor. Hopefully, you already have some help in this regard.
Unfortunately, hiring financial help is often either an afterthought or a hastily made decision, and you don't get the guidance you need and deserve. Even worse, your business meanders down the wrong path and ends up being just another scary statistic.
A successful business needs not only financial assistance but also guidance that is effective. On the one hand, you might just have the wrong accountant in your corner, but there's also a chance that your company needs something more.
by Alex de Soto, on Dec 5, 2018
Ever wonder why your CFO spends more time in their office than anywhere else? Or maybe you have a CFO who is always out meeting with people outside your business when you are trying to talk with them about an issue? Do you have a Controller who feels ignored by your CFO? Do you have a CFO who is great at talking about the needs of your business, but can’t seem to answer a detailed question about the financial statements?
In my years as a CPA/auditor, an employee within companies in finance management roles, and as a recruiter focusing on senior finance positions, it is very apparent one can put a CFO in three categories.
Of course, not everyone is a single variety grape wine, most people are a blend, but I have found these three categories quickly summarize the most common types of CFO in the eyes of the CEO and others in an organization.
The question as a CEO or business owner is, do you have the right type for your organization?
by Alex de Soto, on Nov 25, 2018
The holidays are here. Letters are pouring in to Santa and to our editor. Here is one such letter and the editor's response.
“DEAR EDITOR: I am a CEO.
Some of my friends say there are no good CFO’s.
Papa says, ‘If you see it in THE SUN it’s so.’
Please tell me the truth; are there any good CFO’s?”
----- From Virginia, CEO
by CFO Selections Team, on Jul 25, 2018
The thought of needing to hire a CFO often doesn't come before there is some sign of trouble. Most companies try to operate using the “bank account formula” for as long as possible and then make a change only when the pain becomes too great. “Let me look at my bank account… if I have money, I must be OK!”
Fortunately, this no longer a black and white choice. The most successful businesses are built on a collaborative foundation, and a growing number of companies are embracing the concept of hiring a part-time CFO. Instead of being just a sunk operating cost, this move is now widely viewed as a smart business investment that is delivering positive returns.
by CFO Selections Team, on Jun 28, 2018
The Chief Financial Officer (CFO) position is an important component in the success of any company. A capable CFO takes the time to understand the financial operations of his/her own company, as well as the company’s position in the industry. That knowledge informs vital strategic financial decisions that are often the primary drivers of business growth.
However, the costs associated with a CFO role typically put it out of the reach of many small businesses and startups. Some companies choose to forgo a CFO altogether, opting to let the head of the business make the financial decisions with the help of a CPA, accountant, or other less experienced financial professional. Much like taking a road trip without turn-by-turn GPS directions, this route may result in poor financial management that leads the company astray.
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