6 Things Real CFOs Do Not Do

Real CFOs Don’t…

Apply to job postings – If I have one pet peeve, it is when a company puts a job posting up for a CFO. The reason it’s my pet peeve is that the only reason a Real CFO will apply to a job posting would be because he or she is not working. This is because Real CFOs are too busy to send their resume, and because Real CFOs know that any CFO job that is posted is not really a CFO job, it’s really a Controller job.

Do the accounting – They don’t manage the books, they do not do accounting research, they do not make journal entries, they do not cut cheques. Real CFOs are helping manage a business, not run an accounting department.

Assume – Real CFOs have learned over time, often before becoming a CFO, that there is a big difference between assuming they know something and actually knowing something. Real CFOs have learned from the mistakes of assumption.

Deal with audit staff– If you are a CFO and you are dealing with the manager or senior on the audit of your financial statements, you are not a Real CFO. You deal with the partner on the file. And tell him or her that the fee is too high.

Stand in the Shadow of the CEO – You give the presentations. You go on the road. You shake hands. You negotiate and you close the deal. If you are watching the CEO do this from the sidelines, you are not a Real CFO.

Melt into the crowd – A Real CFO has presence. You walk into the room, and people know you are a person with responsibility and power. People want to speak with you, want to know you and want to shake your hand.

So, are you a Real CFO?

Thank you to my partner Paul Landry for his important input in preparing this blog.

Want to become a successful CFO? Quit your job...

I have always believed that when one has a career that they love, it will never seem like work. I have tried to live this principle throughout my career. It was a key driver for starting CFO2Grow. It is a key driver in pushing and continuing its growth and success.

One of the best things I love about my role is the trust people put in me. I get to be a repository of a lot of confidential information. People trust me with very important personal and corporate information that they won't share with many, if not another soul.

I'm grateful for that confidence. It allows me to do my job, and do it well.

Another thing that I love about what I do is that I get to follow businesses. What I enjoyed so much about the first few years of my career when I was an auditor at Ernst & Young was getting to see and learn from diverse businesses and understanding what made a successful business, as well as unsuccessful. Getting insights into profitability drivers and seeing economic activity in a microcosm was wonderful to observe. Seeing different management styles and ownership roles fascinated me. It still does today.

But as much as I have a job as Senior Partner and Practice Leader of our CFO Search practice, it's not my job. It's my passion. Well, one of my passions anyway.

I sometimes speak with senior finance executives who don't love their job. They don't because they haven't found anything in their career to be passionate about. Which is a shame.

I do however have the opportunity to connect with CFOs (present and future) who LOVE their job. They love their work so much, that if you ask them how many hours they put in last week, they would have to look at their agenda and start counting the hours.

I can tell within minutes of meeting a CFO whether they have a job or a passion. It's obvious. Truly successful CFOs don't have a job.

Want to become a successful CFO? Quit your job and find your passion.