CFO Australia Blog

Ever been given feedback that you disagree with? What was your response?

If you are like most, then your response was probably along the lines of:

Anger; “Where does he/she get off telling me that."

Denial; “That’s not how it happened."

Deflection; “He/she should concentrate on their own problems."

Righteousness; “What would he/she know? I know more about this than them."

There is a common misconception out there that a Chief Financial Officer (CFO) is a role only available to the large corporate. However, if you continue to hold this view you could be doing your business a critical injustice. Having the commercial guidance that a CFO can provide to get your business from where you are now to where you want to be is one of the best investments a business owner can make. Nowadays the CFO offering is incredibly flexible and affordable with options ranging from an full time CFO right through to a Virtual CFO off site.

Effectively managed accounting teams invariably make a significant difference to the general performance of a business. With integrity of the accounting function comes reliable and timely financial and management information.

A functional Board contributes to the overall productivity of the organisation and staff often look to the Board of Directors for guidance, regulations, support, and the tools and resources to do the work that is expected of them.

When a Board is lax or negligent, or does not take care of tasks and responsibilities, it doesn’t take long before staff and the daily operations of the organisation are affected.

Organisations normally engage in developing a robust CFO Profile when they need to recruit, however conducting the same process within your organisation when recruitment is not the focus can have great benefits for aligning business strategy with the individual and team.