This is Part 2 of a 3-part series on Why Hire a Part-time CFO. Part 1 was about deciding that the status quo is simply intolerable and finding the ideal CFO to enable change.
In this part, we dive into the all-important CEO/CFO relationship. Beyond finding the most qualified candidate, business owners and CEOs need to find someone that they can fully trust. The CEO to CFO relationship must be based on mutual trust, as no one sees more than the CFO. CEOs need an experienced CFO, who has proven competency at large, small and start-up companies. Most important, the CFO must be a high-integrity person who puts the business above everything else.
Everything said must stay in confidence and the CFO cannot have any secret agendas.
Getting to Yes. The CFO’s job is not to say “no” all day, it is the opposite. A good CFO can say yes to new opportunities, adjusting plans and timelines to develop alternate approaches to get the same result. The CEO is the aggressive visionary, and the CFO is entrusted in making sure the CEO’s path to achieve their goals is realistic.
Assessing the character traits of any CFO hired is important. Are they able to apply the focus and work ethic to see your great initiatives followed through to completion? Is their mantra along the lines of working hard, getting things done, efficiently executing on projects assigned?
If you hire the right person as your CFO, they will be your greatest ally and asset. They can connect with you at a deeply productive level. They understand the roles and parameters the CEO prefers. They are professional and represent the company in the best light possible.
CFO management consultants always make the best partner for
Business Owners, CEOs, and Entrepreneurs.
To learn more about our affordable, flexible, part-time consulting services, or to get a free CFO review of your financials, call Arima Business Solutions today.