I have been privy to viewing (from near and far) many successful entrepreneurial businesses over the last 20 years. I have always been fascinated by how one person (or a small group of people) can create an amazing business out of nothing. It takes a certain type of individual to have the motivation, drive and skills to be a successful entrepreneur.
I have also seen many entrepreneurial companies reach a ceiling on their growth potential. The management structure and style that has made them the success they have become can no longer support continued growth without a radical change in how the company is run.
This inflection point is where it can continue its growth and success.
Or it can all fall apart.
It is at this time that the Entrepreneurial CEO, driven by his or her own logic or by outside forces (usually external investors), understands that he or she needs to hire a Real CFO.
I have been called in to situations like this to help with the CFO Search. The biggest challenge CEOs face at this inflection point is emotional, not logical.
From my vantage point, the challenge for CFOs as they assess new and exciting opportunities is more than just avoiding difficult situations. The challenge is: How does a new CFO “make it work” with an Entrepreneurial CEO on the cusp of major change?
In essence, the company needs to be ready for a Real CFO. For an outside CFO candidate on the verge of accepting an offer from a growing company, this is difficult to assess.
The Question for the incoming CFO is: Are they ready for a Real CFO?
The Question for the Entrepreneurial CEO is: Are we ready for a Real CFO?
For companies facing this important point in their growth, I always recommend our CFO Readiness Program.
You can learn more about our CFO Readiness Program by reading our blog – CEO and Investors: Are you ready for your First CFO?
If you are a New CFO getting ready for (or having just started) a new role in a growth company with an Entrepreneurial CEO at the helm, you need to learn more about how this CFO Readiness Program will help you help your new company.
If you are an Entrepreneurial CEO that knows you will be facing an uphill battle in the move towards a more corporate structure, our CFO Readiness Program will equip you and your entire team to make the shift with more impact and less pain.
If you are an Investor in (or on the Board of) an Entrepreneurial Growth Company on the cusp of change, investing in CFO Readiness will take the guessing out of making the shift to the more corporate environment that will make you sleep better at night.
So, how does a New CFO “make it work” with an Entrepreneurial CEO on the cusp of major change? With the CFO Readiness Program.