KOREA PROFESSIONAL CFO HUMAN

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HOW TO BECOME A PROFESSIONAL FINANCE DIRECTOR

The financial system in an enterprise is like the blood circulation system in the body that feeds all organs and the whole. Finance can be in the form of money, materials, raw materials, assets generated at the time of capital formation or during the operation process such as receivables and payables.

So the role of the Chief Financial Officer (CFO) can be said to be quite important. According to Keith Ferrazzi (founder, CEO of Ferrazzi Greenlight), he shared in the Harvard Business Review magazine about tips for the CFO.

1. Be aware of your responsibilities

Of course, in addition to the responsibilities of his work and duties. The Chief Financial Officer himself must ensure everything is run fully and smoothly, but it is not necessary to complete it all by hand.

Instead, be clear in how you coordinate and provide timely solutions to each member of your department. This may sound "theoretical" but according to Keith, every director himself knows this but few do it well!

"It's like playing golf, no one cares about the number of clubs you calculate to put the ball in the hole, because it doesn't matter how you get to the destination, it's important that you get to the destination," he said.

2. Building a complementary team

As a modern CFO, your team should include your production manager, sales manager, strategy manager, data processing, data analysis staff, as well as the most creative individuals in the company and have corporate financial awareness. And of course, it is indispensable for executives. The true success of an executive does not come from the reports, but based on the ability to build a team and the ability to lead other members through soft power.

Keith said: “I have many friends who are CFOs facing the risk of being fired. One of them is very good at financial forecasting as well as good ability to turn capital but lack the ability to cooperate in strategy development and creative product development. Not only financial executives but even many executives fall into the same situation but they rarely realize that because what they lack is not the skill, but the cooperation with skill owners. can make up for their shortcomings. "

3. Accept the differences of other members

Keith commented: “I often witnessed many CFO failures, then blamed the way other members worked. Becoming a reluctant mediator between a business manager, a financial director and a marketing director is something that happens to me often. It can be said that it does not matter who is leading the business growth; It is important that you do your job to promote your growth. Whether the leader is the chief executive, the sales manager, or the chief financial officer, your responsibilities remain the same and your job does not change. In addition, they are still your teammates. Learn to accept and be familiar with the differences of the organization members who need different levels of training, encouragement and encouragement. And, your task is to know how to interact with them. It is very simple for people to criticize and blame, but to be honest, it is a harsh act towards others, but easy on themselves. Learn to accept and not improve yourself; instead, always think about what you can do. Ask yourself, how do you build relationships and please other members, so that bring the best results for businesses? How can I really lead my team? ”