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As a Co-Founder at Zanda, I've had the privilege of observing and mentoring many finance leaders on their journey to becoming CFOs. From my experience, certain characteristics and strategies help ambitious finance leaders stand out and successfully navigate their career trajectories. Here’s what I’ve learned about charting a path to CFO and excelling in the role.
How to be a stand-out finance leader
What stands out most in successful finance leaders is their proactive approach to personal and professional development. They don't sit back and wait for opportunities to come knocking—they actively seek out areas where they can improve and commit to addressing them. Tools like the T-shaped CFO diagram and resources such as the CFO toolkit from GrowCFO are fantastic for self-assessment and refining the skills needed to excel in CFO roles.
While reliability and efficiency are foundational for roles like Head of Finance or Finance Director, transitioning to CFO requires a shift in focus towards leadership, strategic thinking, and innovation. These soft skills are what really elevate a finance professional from managing numbers to driving company-wide strategies for growth and success.
Navigating your way to the top
In terms of career paths, there's no one-size-fits-all approach to becoming a CFO. Traditionally, many finance leaders start with foundational qualifications such as ACA, ACCA, or CIMA, often gaining experience in audit or corporate finance before transitioning into industry roles. As you progress, opportunities in smaller, high-growth companies often become stepping stones to securing that coveted CFO position.
Alternatively, finance leaders with backgrounds in investment banking or top-tier strategy are highly sought after by fast-growing startups or scale-ups backed by venture capital or private equity. These roles emphasise strategic thinking and the ability to navigate complex financial landscapes, setting the stage for CFO roles in dynamic environments.
Avoiding the pitfalls
One big risk I've seen is finance leaders getting bogged down in day-to-day operational tasks, leaving little time for strategic initiatives. To mitigate this, advocating for finance technology adoption to streamline processes and building strong, specialised teams for reporting and planning are crucial steps. This frees up time to focus on critical areas like capital allocation, investor relations, and competitive analysis—key responsibilities that define the CFO role.
The key to staying ahead
Continuous learning is absolutely essential for any finance leader looking to advance their career. Connecting with peers facing similar challenges and seeking mentorship from experienced CFOs provides invaluable insights and support. It’s also vital to have candid conversations with CEOs and founders about your career goals and aspirations, ensuring alignment between personal development goals and organisational objectives.
Thriving through challenges
Finance leadership requires resilience and adaptability, particularly during challenging times or setbacks. Effective communication with stakeholders and a proactive approach to problem-solving are essential for maintaining motivation and steering the organisation through uncertainties. Balancing responsibilities and setting boundaries helps sustain energy and passion for the role, even amidst the pressures that come with it.
Building your circle
Building a robust professional network isn’t just about collecting business cards—it’s about forming meaningful connections that support your growth. Platforms like LinkedIn are fantastic for networking but don’t underestimate the power of face-to-face meetings and personal connections. Reach out to CFOs who have achieved milestones you aspire to, and consider joining CFO communities or seeking coaching to enhance your leadership skills and expand your network.
Taking action
Ready to take action? Start by leveraging your strengths and building a capable team around you. Focus on delivering high-quality work that showcases your expertise and commitment. Be proactive in identifying opportunities for improvement within your organisation, whether it’s implementing new technologies, driving efficiency initiatives, or taking on strategic projects. These actions not only demonstrate your readiness for senior roles but also pave the way for long-term career growth and success.
Charting a successful career trajectory as an in-house finance leader requires a strategic blend of continuous learning, proactive career management, and the development of both hard and soft skills essential for senior financial leadership. By embracing these principles, you’ll be well-equipped to navigate the complexities of finance leadership and achieve your career aspirations.
Remember, it’s not just about where you are now, but where you’re headed and focusing on the proactive evolution of your personal brand. Keep pushing boundaries, seizing opportunities, and leading with passion and integrity in every decision you make.
Catch Andrew at Stacked in September!
Don't miss the chance to hear more from Andrew in our panel discussion Charting a Successful Career Trajectory.
Join this discussion at Stacked in September to gain confidence and insight in navigating your career path. Dive deep into strategies for maximising your trajectory and gain practical advice on advancing your career.
See you there! 👋
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