The Basics

Create Intense Job Description For This Position

Though it may sound like we are possibly overdoing it in our assessment and description of a good CFO thus far, make no mistake, we are most definitely not in the slightest. In fact if anything it's been played down, and I will demonstrate how. Think about the responsibilities of the CFO from the owner of a successful business's perspective. This person is responsible for the profit margin of your entire company, and whether or not it has steadily but unmistakably increased since the time they were hired. They are responsible for the current reputation and brand awareness of your business, as well. Your past, current and future marketing strategy is dependent upon this person's knowledge and judgment. What people think about your products' quality and effectiveness not only directly impacts your business and its growth potential, but can also be attributed to an effective, active CFO's efforts in the community and through his or her business relationships and contacts. Are you beginning to see why it is so crucial to the success of a business to have a top quality CFO yet-?

Here's an example of a great CFO in action. At a self-designed and inspired business-sponsored event in the community, Chad (CFO of the business doing the hosting and sponsoring of said event) decides to improvise when the turnout is initially a small number. He does this by getting up on the stage and announcing a "surprise impromptu talent show" with a great irresistible prize, starting in 2 hours. Go tell your friends and family members about it, and if you want to perform, come back and sign up in exactly 1 hour! He is already extremely well liked and respected within the community, and his enthusiasm and excitement is contagious. In the ensuing hour, he isolates himself in a quiet room with a pen and paper, brainstorming ways to benefit the business and boost brand awareness, especially among the younger generation of people who represent the current popular opinion. In the end, his overall contribution to your business is absolutely priceless, because the lasting impressions from the event that day are immeasurable, just from that aspect.

Obviously, not every CFO is going to measure up to "Chad", but hopefully by now you get the idea. When you think "CFO", you should have very high expectations, because this person is definitely going to be earning their salary. Don't settle for less than a superb, above-average over-achiever who will literally take your business to new heights! And here's another tip to remember: if you want to make a really smart business decision, hire a professional CFO from a unique company such as Boyd Group Services. The owner will be able to help you with your CFO position, as well as to assist your business with new growth opportunities, excellent financial advice, and new strategies for growing your business and increasing its future level of success. It's wealth management plus so much more. Running a business in today's uncertain economy is tough enough, without having to learn a bunch of financial strategies too. Besides, who has the time for anything but the hundreds of tasks you try and accomplish every single day? It is because of this, that we have been attempting to shed some light on the question 'what is a CFO', as well as what their responsibilities are and what an excellent one can do for you and your business. So, take good advice and hire a terrific CFO for your business!