Control Versus Contribution

By Rich Bond

When I talk to business owners and corporate executives, I get the impression that they see the primary responsibility of finance to be control.

I agree that control is important, but it is less so than contribution.

By contribution I mean doing things that will help the company growth faster and make more money.

Most managers dislike control, and it makes them have a negative attitude toward finance. But financial people who make contributions are looked on favorably.

For example:

  • I placed a Controller at a company with sales of $30 million.
  • In his first year on the job, this person reduced inventories by $1 million, while increasing the on-time order fill rate from 85% to over 90%.
  • Previously, the company not only had too much inventory, but they also didn’t have enough inventory of some critical parts.
  • With the new Controller, company sales, which had been stagnant, grew to $50 million over the next five years.

If your finance function is not contributing to your company’s profitable growth, we should talk.

I have many other examples of how the individuals we have helped our clients hire and retain have boosted the hiring company’s bottom lines.

Furthermore, we have developed a 5-step process – Smarter Search – that identifies finance people who have made significant contributions in the past and could do the same for your company in the future.

Other Posts

  • “If it weren’t for bad luck, I wouldn’t have any luck at all.”

    “If it weren’t for bad luck, I wouldn’t have any luck at all.”

    21st February 2024
    Read More
  • CAREER ADVICE – Don’t Be a Lemming!

    CAREER ADVICE – Don’t Be a Lemming!

    19th February 2024
    Read More
  • Is Treasury More Important Now than It Was Pre-Covid?

    Is Treasury More Important Now than It Was Pre-Covid?

    7th February 2024
    Read More