Last month marked a year since I decided to move on from my previous CFO role, and 6 months since I actually left that business. As I reflected on all that happened over those 4 years, I decided to write down some of the more significant events which made for some interesting reading.
CFO journey
While there were some challenges, as all companies have, I really enjoyed this role as there was never a dull moment. Throughout all these changes, challenges, and milestones, the finance team continued to serve the business, drive operational improvements, prioritise investor relations, and many other day-to-day tasks.
Now, 6 months into a new venture providing support to finance teams on their journey, I reflect on some key lessons learned in my new and previous roles:
Growth from Challenges: You learn 10x more in a challenging environment than a smooth one. Experiences in tougher environments throughout my career so far are where I’ve grown and enjoyed the most.
It’s all about the people: In challenging environments, having great people around you, whether internal hires or external support, is even more crucial.
CFO Experience: I’m now learning that terms like CFO advisory and Fractional CFO can mean different things and are offered by people with varied backgrounds. If you're considering these services, know what you’re looking for and research the experiences of those offering them. I’m biased, but I believe that actual CFO experience counts for a lot when offering these services.
Broad Remit of Finance Teams: Finance teams today have a broad remit, but retaining all skills in-house can be challenging. Some skills are not needed all the time, and some are hard to find and retain. Sometimes, it’s more efficient not to hire full-time.
Healthy mind & body: Now that I’m not regularly working across multiple global time zones, I truly see the value of proper sleep!
Past experiences have shaped the way I approach CFO support and fractional CFO services today. cdFirst was started to support CEO’s, CFO’s and finance teams with a fully integrated finance team support offering to help you grow and scale your business. If that’s something your business needs assistance with, we’d love to chat.