Being a chief financial officer of a company means being a leader. Although you have superiors when you’re working as a CFO, take note that you’ve got subordinates as well. In fact, as CFO, you have lots of people to handle and responsibilities. That’s why, from time to time, there are some things that you should remind yourself so that you’d be able to carry on with your duties, improve as head of different branches of a company and also avoid troubles. What are these, you ask? In order for you to find out some of the essential matters that chief financial officers have to think about periodically, please read on or check some of the wise words of chief financial officer of Scholastic Publishing, Maureen O’Connell.
As CFO, you have to think about how to “balance” things within the company that you’re working for. You have to handle matters between managers and first line workers and between the work that has to be done and the people who are handling the tasks that have to be taken care of. If you wish to be a good financial officer, you have to remind yourself every so often that you should check up on the staff members of the company where you’re at. That’s so you would know if there are things that need to be fixed or enhanced. You have to know issues within and between branches so that you could resolve them and get important things dealt with accordingly. Basically, you have to talk to managers so that you would have reports that you could compile and then report to the chief executive officer of the company. You also have to visit departments from time to time to establish rapport and also possibly be informed of some things that aren’t typically written in reports. Also, you have to make sure that your staff don’t become too comfortable with accomplishments and overly pessimistic because of failures.
“Growth” is also something that you should concentrate on as CFO because the company that you’re a part of won’t exist for a long time and may be gone right away when you won’t think about it. Whether you like it or not, you have to focus on how to constantly improve the company where you hold a high position so that you would not only keep your job but also prevent troubles. When you’re chief financial officer, you have to ask yourself a few things related to production, workforce, financial management and things associated with decision making. That’s because you’re considered as boss and you make decisions as a financial officer.
As said, because your responsibility covers money matters when you’re chief financial officer, you also have to think of “investment” or “investing”. Because the company has limited resources and you have to make some serious decisions, you have to bear in mind how you’re going to spend money and what things you should really spend on. Related to growth, you have to invest so that you would be able to boost your company’s status and make use of money wisely. After all, keeping earnings alone is unwise and dangerous because the value of money relies on economy.