Archives for February 2012

February 23, 2012 By Samuel Dergel 1 Comment

Confidence: A key to CFO Success

When identifying CFOs who are successful, you’ll notice that they are:

Passionate
Very good at managing relationships

You’ll also notice that CFOs have another key ingredient for success: Confidence.

Where does CFO Confidence come from?

Experience: Having been through situations before that were tough, that looked difficult to get through and having the fortitude to make it work is the hallmark of an experienced CFO. When the going gets tough, if your CFO believes in the abilities of him or herself and her or his team, the chances for success are greatly increased.

Do you need confidence to become a CFO?

I speak with many people who are on the Road to CFO. A CFO is not born; they are groomed – by themselves together with mentors and coaches. When I speak with someone who wants to become a CFO, within 15 minutes I can tell if they have what it takes. One of the secrets is that they have the confidence in their abilities without sounding like they are full of baloney.

Can confidence be learned?

Yes, it can. But confidence building needs to come early in a career. It needs to come from a combination of coaching and mentoring, building on innate personal abilities. It is difficult for a professional working for 20 years to start finding the confidence in their abilities. Not everyone has the confidence necessary to become a CFO. Nor should every finance professional become a CFO. (Which is another blog topic altogether).

Can you be a successful CFO without confidence?

I haven’t seen one yet. Have you?

++++++++++++++++++++++++++++++++++++++++++++++++++++

Would you like to receive Samuel’s CFO Blog directly in your email when he has a new blog? Click the SIGN ME UP! button on the right.

February 14, 2012 By Samuel Dergel 2 Comments

Why work with Stanton Chase to hire your next CFO?

CFO Search is a topic that I am passionate about, and have written about before touching on topics such as:

4 Reasons you should use an Executive Search Firm when hiring your CFO

When hiring a CFO, is LinkedIn the place to look?

How do you replace your CFO?

New CFOs and the Entrepreneurial CEO – How to make it work

CEO and Investors: Are you ready for your First CFO?

(You can read all my CFO Search related topics by clicking on this link.)

You will notice that in these blogs I discuss why you should be using an executive search firm to hire your Chief Financial Officer. I have not, to date, written about why you should work with Stanton Chase to hire your next CFO.

I could list generic reasons here, but the reality is that as a company looking for your next Chief Financial Officer, you have challenges in your search that are specific to your situation.

This is where the CFO Search Team at Stanton Chase can help.

If you are looking to hire your next CFO, before you make your decision on an executive search firm, you should consider Stanton Chase.

For more information on Stanton Chase’s CFO Executive Search Practice, Process and Team, complete the form below to receive a copy of our brochure.

[contact-form subject=”Brochure Requested: CFO Search” to=”[email protected]”] [contact-field label=”Name” type=”name” required=”true” /] [contact-field label=”Company” type=”text” required=”true” /] [contact-field label=”Position” type=”text” /] [contact-field label=”Email” type=”email” required=”true” /] [contact-field label=”Phone Number” type=”text” required=”true” /] [/contact-form]

February 10, 2012 By Samuel Dergel 3 Comments

Ask Samuel: Industry Experience Required?

Dear Samuel,

I have come across many companies over my career that, when looking to hire their CFO, require that they have not only CFO experience, but experience as a Chief Financial Officer in their industry.

How would you recommend that I position myself to be hired into an industry that I do not have direct experience as a CFO?

Denied in Denver

Dear Denied,

When decision makers hire (or make any decision) they choose the path of least resistance. This usually includes making decisions based on their belief system.

Many people making these hiring decisions have the belief that their industry is so specialized and unique that no one coming from outside the industry will be able to learn quickly enough about their industry and will therefore be at a disadvantage.

From what I have seen, decision makers that are able to hire key people from outside their industries usually do so because they have a more convincing factor in making the decision – trust. In these cases, the one making the hiring decision knows and trusts the person that will be coming into the role, even if they don’t have the industry experience.

When companies face ‘change management’ considerations, they are more open to hiring executives from outside their industry to shake things up.

So how do you get hired into an industry you don’t have direct experience in? Use your connections. People that trust you know what you are capable of and will overlook your lack of industry experience.

Thanks for writing,

Samuel

++++++++++++++++++++

If you’d like to ask Samuel a question, click here.

Would you like to receive Samuel’s CFO Blog directly in your email when he has a new blog? Click the SIGN ME UP! button on the right.

February 1, 2012 By Samuel Dergel 6 Comments

CFOs & Recruiters, Redux

My friend Cindy Kraft wrote a blog yesterday called “Recruiter Relationships“. The topic is near and dear to me, so I had to comment as I couldn’t help myself. You can read my comments on Cindy’s blog and add to it if you’d like.

The topic of CFOs and their relationships with recruiters is not a new one for me. I’ve written about it before here, here, here, here and here.

This paragraph of Cindy’s got my attention:

What a waste of time for all concerned when recruiters contact CFOs for opportunities that are obviously not a good fit. Which begs the question, who is responsible for ensuring that recruiters can make an assessment based on a crystal clear value proposition and fit for culture?

So who is responsible?

Companies hire recruiters. Recruiters are working a search for a CFO using what they believe is the best approach to help the company hire. If the wrong approach is used for hiring a CFO, it is the company that hires the recruiter that bears the responsibility. If they chose the wrong type of firm for their CFO Search, then it shows that the company may be more interested in factors other than the right CFO for their needs.

Who do you think is responsible?

++++++++++++++++++++++++++++++++++++++++++++++++++++

Would you like to receive Samuel’s CFO Blog directly in your email when he has a new blog? Click the SIGN ME UP! button on the right.

Archives for February 2012

Contact Information