Confidence - Samuel's CFO Website

The Chief Financial Officer is always concerned about what their Chief Executive Officer thinks. And too often, they believe that their CEO does not take their input as seriously as they would like them to.

Well, CFO, here is some research that shows you should have more confidence in yourself.

According to recent research from American Express and CFO Research, “CEO-level executives in the survey tend to give more weight to their CFOs’ input than even their CFOs themselves recognize.”

To summarize, 92% of CEOs believe that you (the CFO) are either an influential or determining factor in helping them come to strategic and operational decisions, while only 77% of CFOs feel that they have that same impact on their CEOs.

As I have discussed before in this blog and in my book, the relationship between the CFO and CEO is a significant key to the success of a CFO.

You may be more successful than you think.

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?

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CFOs should be more confident when dealing with their CEO

Confidence: A key to CFO Success

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