As a CFO, Are You Always Playing Defense?

 

It is hard to always be on defense, but that is the position many CFOs are in.  They are waiting for “the other shoe to drop.” They are constantly defending the numbers they show to management.

But you can play offense, too, if you are proactive and have a deep knowledge of the business you work in.

The more knowledgeable you are of your organization’s business – its products, customers, operations, marketing, and management philosophy – the sooner you can become aware of potential shortfalls and go on the offensive to make corrections.

While the finance function is often viewed as a cost center, you can play a huge role in adding to the bottom line.

As a CFO, you can hope things won’t go wrong, which is a defensive strategy, or hire people who can increase the bottom-line giving your finance the respect it deserves.

Here are two examples:

  • An individual we helped our client recruit and retain, came up with a new plant location methodology that helped double sales and avoid millions in unnecessary capital expenditures.
  • A newly recruited pricing professional developed a process that allowed a packaging company to increase prices by over one percent a year, which resulted in a tripling of the stock price.

Please reach out to me if you want to talk about how I can help you hire and retain proactive financial professionals who will add to the bottom line and help finance move out of a strictly defensive role.

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