Guide to CFO Success: Leadership Strategies for Corporate Financial Professionals

Praise for Guide to CFO Success: Leadership Strategies for Corporate Financial Professionals Samuel Dergels book is the best–ever guide to building a successful and meaningful CFO career. The book bursts with insights and cautions grounded by practical experiences of the many CFOs Sam tapped for input. It is a must–read for anyone interested in the evolving role of the CFOand everyone who hopes to catch the next wave. Mary Driscoll, Senior Research Fellow for Financial Management, APQC, a business research and benchmarking firm Moving beyond the technical acumen required for the job, Guide to CFO Success: Leadership Strategies for Corporate Financial Professionals teaches Chief Financial Officers the specific leadership skills they need to contribute positively to an organization while also maintaining an awareness of their role in a global economy. It discusses not only how to build and navigate a successful career path, but also how to effectively build teams and manage relationships. It was written as a strategic blueprint for CFOs to help them learn the skills they need to maximize their career success. Written by Samuel Dergel, widely known as The CFO Expert, this book teaches current and aspiring CFOs to: Recognize the non–technical skills they need to become a thriving leader Plan a winning career roadmap while avoiding occupational dangers Transition effectively to a new CFO role or organization Properly manage all internal and external business relationships Build and develop a winning finance team, including succession planning With numerous real–world examples of successful and not–so–successful CFO relationship management strategies, Guide to CFO Success is the only book on the market dedicated exclusively to the leadership management skills of the CFO.

Preface xi Acknowledgments xv CFO Advisors xix Chapter 1: Chief Financial Officer 1 What Is a Chief FInancial Officer? 2 Personal Attributes of a Successful CFO 4 Skills Required for CFO Success 6 CFOs Are Different 8 Work–Life Balance 11 The Other Important Thing to Balance 12 Career versus Employer: A Question of Ethics? 13 Focusing on Your Career Helps Your Employer 15 Conclusion 16 Part One Successful Career Strategies for the CFO 19 Chapter 2: Planning for Career Success 21 Playing to Your Strengths 23 Personal Brand 25 Networking 27 Social Media for the CFO 31 Skills Development 36 Career Coaching 38 Conclusion 39 Chapter 3: Career Danger Signs 41 Career Danger Signs 42 Conclusion 48 Chapter 4: Should a CFO Moonlight? 51 Perception Is Reality 52 Acceptable Moonlighting Methods 52 Conclusion 58 Chapter 5: The CFO in Transition 61 The Grieving Process 62 Welcome to Your New Job 63 Ideal State 64 Catching Up From Behind 65 How CFOs Find Their Next Opportunity 69 Accepting Your Next CFO Role 69 Negotiating Your Next Employment Contract 71 Conclusion 78 Chapter 6: Starting Your New CFO Role 81 Onboarding 82 Onboarding Experiences of Real CFOs 87 Conclusion 95 Part Two Successful Employment Strategies for the CFO 97 Chapter 7: Planning for Success at Your Employer 99 The Case for a Formal Plan for Success 100 Executive Coaching for the CFO 110 Conclusion 112 Chapter 8: Relationship Management for the CFO 113 The CFO Relationship Map 114 Elements of Relationship Management 115 Examples of Successful CFO Relationship Management 118 Examples of Failed CFO Relationships 120 Why Do CFO Relationships Fail? 121 Conclusion 123 Chapter 9: Relationships with the CEO, Board, and Investors 125 The CEO Relationship 125 Relationship with Your Board of Directors 131 Relationship with Investors 141 Other Situations 146 Conclusion 149 Chapter 10: Relationships with Fellow Executives 151 Human Resources 152 Information Technology 156 Marketing 160 Sales 165 Production 168 Conclusion 172 Chapter 11: Relationships with Outsiders 175 Auditors 176 Lenders 178 Lawyers 182 Other Outside Relationships 184 Conclusion 185 Chapter 12: Building and Developing Your Finance Team 187 Elements of a Great Finance Team 188 The Cost of a Great Finance Team 191 Plan for a Great Finance Team 192 Building Your Finance Team 197 Superstars 199 Develop Your Team 201 Methods to Develop Your Team 204 CFO Succession 206 How Do I Become a CFO? 207 Your First CFO Role 208 Conclusion 209 Bibliography 211 About the Author 213 Index 215

Samuel Dergel, CPA, CA, CPC (San Francisco, CA and Montreal, Canada) has been successfully involved with executive search and consulting for over 13 years. He is an active CPA, Chartered Accountant (Canada), a Certified Personnel Consultant, and is a graduate of McGill University in Montreal, Canada. Samuel is known as The CFO Expert and is an active blogger, social media leader, and speaker on the topic of the role of the Chief Financial Officer