CFO's - Are you ready for 2017 ?

With 2017 well underway, its perfect timing to consider some of the priorities for CFO's this year. As the CFO role is expanding further we must focus on building capabilities that aid the sustainability of the CFO role and our businesses.

So are you ready for 2017 ?

I recommend that CFO's focus on these six areas (in no particular order)

1. Continue to invest in yourself
2. Put "Strategy" on the Agenda
3. Focus on early wins to gain momentum
4. Start looking at "Talent" differently
5. Communicate "Up, Across & Down"
6. Always challenge the "Status Quo"

Continue to invest in yourself

As leaders in our businesses take a moment to review where we are at both personally and professionally. What skills & capabilities will be required in my role this year and in the future and importantly do I have a plan to start developing these capabilities. Our work in the “Business Acumen” area is a great start. (see link to post below)

Put "Strategy" on the Agenda

CFO’s usually have a seat at the table when it comes to set setting the company’s strategic agenda. As a strategic leader we need to step outside our functional comfort zone and “own” the business strategy.

Focus on early wins to gain momentum

As 2017 begins its important that with our teams we focus on some early wins. This builds confidence and credibility within the business and allows you build momentum for larger projects and change management initiatives.

Start looking at "Talent" differently

Talent is your number one asset and its time you starting looking at “Talent” differently. Schedule time for conversations with key team members, invest in some development linked to priorities and key projects, deal with underperformers now and above all else treat people with honesty and respect (as you would like to be treated).

Communicate "Up, Across & Down"

Communication is vital at all levels. Ensure channels of communication are always open. Clarify objective, remove barriers, understand blockages for success. Put an objective in place to increase your communication on key projects with peers and downwards to not just your direct reports (but their direct reports also) understand what’s really happening on the factory floor. Take time to speak with both internal and external customers – only with this information can you really add value to ‘Strategic” decisions.

Always challenge the "Status Quo"

As CFO you should always take the lead in “Challenging the Status Quo”. Don’t on face value accept the information that lands on your desk – you must ask question, seek clarification and look for supporting arguments. Don’t ask questions just for the sake of it – you need to be asking the “most intelligent questions” You need to be asking the questions that no one else can.

Other Recent Articles:

When is it time to hire a CFO ?

The One Skill that every CFO needs ?

CFO's need to develop "Business Acumen" to be a great Business Leader

 James O'Brien is the  Founder of CFO Accelerator which offers exclusive mentoring and coaching to CFO’s across Asia Pacific. Book a FREE CFO Power Up Session to see how the CFO Accelerator can assist you and your teams leadership journey. If you require specialist advice around the search for your new CFO please contact us for a confidential discussion.

www.cfoaccelerator.com.au

Ph 1300 082 000

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James is accredited in the Business Acumen Gauge from Quad Assessments