Real Life Stories of What Makes The Difference for CFO Readiness

Last August, I got together with Steve Rosvold , founder of CFO.University , on a LinkedIn Live event called How to Become CFO Ready .

The aim was to compare notes on our experiences of how we got our first Finance Director or CFO jobs. And what we were trying to drive out from the discussion was what makes the difference.

What makes the difference between those who coast along in a Finance career, not getting very far forwards, and those who make it all the way to the top?

What made us CFO ready – ready for when the opportunity came along to step up into that top role?

You may have heard the saying, “luck is where preparation meets opportunity”.

I guess what that’s saying is that opportunities are something that you don’t have a lot of control over. But preparation is something you can have almost total control over.

If you go about your personal and professional development on the basis that opportunities are never going to come your way, then you’ll never be prepared. And when an opportunity comes along, you probably won’t even notice it, because you’re not ready.

But if you approach your development with the mindset that anything is possible, then you can make yourself ready.

The key thing is, when that CFO/FD opportunity comes along, do you already look like someone who would be a good CFO/FD?

That’s what you’re aiming at. Then at least you’ll have a fighting chance!

So, what does make you CFO ready?

You can find the replay of that LinkedIn Live event on Steve’s profile: https://www.dhirubhai.net/events/howtobecomecfoready7092379664840626176/about/

Steve gave some great specific examples, but he summarised the things that made him stand out as CFO ready in five points:

1. Know the fundamentals (have deep knowledge of the income statement, balance sheet and cashflow, and how they fit together)
2. Have insatiable curiosity (investigate things you don’t understand or don’t look right until you know exactly what’s going on)
3. Learn to speak the language of the business (communicate about performance in a way that non-Finance people understand it)
4. Get big things done (don’t shy away from getting involved and making your mark in big, risky, projects)
5. Lead in a way that adapts to the current situation of the team (be sensitive and empathetic, and focus on helping the team to grow and perform)

The five points that came out of my own story were very similar:

1. Deliver great work (do everything to a high standard, if possible exceeding expectations based on what the business is trying to achieve)
2. Collaborate with the business (don’t just produce your output, let your non-Finance colleagues help you, so it becomes more use for the benefit of the business)
3. Be hungry to learn (ask LOTS of questions, get feedback and improve)
4. Understand the business (know how the numbers come from business processes and value drivers)
5. Lead people well (see your leadership role as to make the team more than the sum of the parts)

If you can carve out an hour to watch the video, I highly recommend it. I think you will find it both challenging and inspiring for your own career. Here’s the link again:

https://www.dhirubhai.net/events/howtobecomecfoready7092379664840626176/about/

Finance Pro to CFO Video Series

I’ve just finished recording my new free video series, which takes a more structured look at how to develop yourself so that you reach CFO readiness.

It’s called Finance Pro to CFO - The Priorities for Personal and Professional Development for a Successful Finance Career.

I’ll be releasing details of how to register for that very soon. Currently my plan is to make the videos available from 14 March 2024, for two weeks. And you’ll be able to register for it some time before then.

That’s all in the runup to opening enrolment for CFO Readiness Builder again in the last week of March.

If you want to make sure you don’t miss Finance Pro to CFO, I’d suggest you either keep checking my profile or get on my mailing list by registering your interest in CFO Readiness Builder .

The Purpose-Driven CFO Newsletter

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About the Author – Andy Burrows

I’m Andy Burrows , and I’m Founder and CEO of Supercharged Finance , a provider of online learning and coaching, aimed at helping Finance professionals get better at helping the businesses they work for.

I qualified as a chartered accountant in the UK, and have worked for more than 25 years as a senior Finance professional in a variety of businesses of different sizes and sectors.

I’m now a popular writer in Finance and Accounting. In 2019 Anders Liu-Lindberg described me as one of the "Top voices on LinkedIn for Finance, accounting and FP&A". And in 2024 I was given official LinkedIn Top Voice status (see the little blue badge on my profile !)

If you’d like to hear even more from me, go to my profile and click the follow button!

CFO Readiness Builder

If you are keen to progress quickly in your Finance career, you need to focus on the skills and capabilities that make the difference.

Our CFO Readiness Builder program is designed to help you to do that. CLICK HERE to find out more and register your interest, either for you or for your team.