- Struggling? Here’s What Should Be in Your Plan
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- Turning around, launching or restarting a business takes time and careful planning. It’s a venture fraught with challenges, often leaving leaders facing these characteristic challenges: I need to set some financial targets and work hard to reach them. My financial statements are inaccurate; what can we do to achieve greater transparency? Our business plan is developed, but it needs fine-tuning. The books are always closed late; how can we improve efficiency? Our current systems aren’t meeting our needs; what are our options? We thought we had enough working capital but are short on cash to meet daily expenses. The CFO is lacking the skills and training required for our new vision.
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Take Assessment Watch Video- CFO Success Series: For Best Results, Business Development Should Be Symmetrical
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- The majority of middle market companies started as small, conservative enterprises. As they grew many employees continued to wear several hats and perform multiple tasks within the organization. It may be just fine for a small business to have their receptionist double as their accounts payable clerk.
- Why Your KPIs Are Mush
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- Enjoy this series of shorts on Metrics from Jim. KPIs may be the most quoted lousy leadership tool in the book. They are lousy because they’re used the wrong way. The concept is powerful, both for redirecting company effort and to test new initiatives, among many benefits. Stand this checklist alongside your KPIs and see how you score. Answer yes or no.
Governance & Controls – structure and controls.
Transaction Recording – systems, transaction processing and closing the books.
Reporting - efficient, timely and accurate information for decision making and meeting compliance requirements.
Accounting
Business Planning - provide the financial roadmap for the company with supporting analytics.
Financial Forecasting - integrate the company’s current performance relative to budget with the real-time business environment.
Investment Analysis - the framework to analyze new opportunities as they present themselves.
Finance
Cash Management - the discipline to ensure cash is available to operate the business normally.
Funding - Planning for and raising funds to meet the needs of the business.
Risk Management – Identification and mitigation of key business risks.
Treasury
Self-Awareness - Internal.
Team Building - External.
Strategy & Culture – Motivate people to follow you.
Leadership
Four Pillars of Executive Expertise
CFO.University is built around the Four Pillars of CFO Success. These Pillars are supported with Core Competencies. Our framework allows you to master your role as a senior financial officer. The Four Pillars are made up of:
Accounting – Governance & Controls, Transaction Recording and Reporting
Finance – Business Planning, Financial Forecasting and Investment Analysis
Treasury – Cash Management, Funding (Capital Raising) and Risk Management
Leadership – Self Awareness, Team Building and Strategy & Culture
