Being the go-to person

The role of the CFO is changing. You are no longer just responsible for the financials of a company, but are expected to take on a more strategic role. This shift has led to many CFOs becoming more involved in day-to-day operations and delivering the business plan, which puts you in the perfect position to become the co-pilot to your CEO.

This means that you need to be able to provide insights and recommendations on a variety of strategic issues and become the first person that others go to when they need help with important matters. To do this, CFOs need to have a strong understanding of your company’s business model and operations. You also need to be able to develop trusted relationships with other key members of the executive team.

In this lesson, we discuss why CFOs need to be the go-to person for key decisions throughout your organization to become the co-pilot to your CEO. We also provide practical suggestions for how to achieve this.

CFOs need to be adaptable and always willing to learn. You need to have a strong understanding of the business and be able to provide insights on a variety of strategic issues. Furthermore, CFOs need to develop trusted relationships with other key members of the executive team to be truly effective.

Being the go-to person means that you are the one who your peers turn to when they need help identifying and implementing solutions to their problems. You carry a reputation towards staying calm under pressure and taking responsibility for helping to put things right. For example, dealing with difficult customers, solving an employee dispute and hitting tight deadlines.

The go-to person never sits back and watches things go wrong. They rise up to the occasion when needed and take whatever action is required to help other people put things right. This encourages other people to consult you before others and keep you informed of the matters that require your urgent attention.

To become the go-to person, you need to generate authority and respect during your interactions with other people. Here are three ways that you can achieve this:

1. Be clear and concise when you communicate. When you are communicating with others, it is important that you are clear and concise. This will help to ensure that your message is understood and that you are respected as a knowledgeable source of information.
2. Make sure that your body language conveys confidence. Your body language is just as important as the words that you use when you are communicating with others. Make sure that you stand up straight, make eye contact, and use gestures to emphasize your points. These nonverbal cues will help to convey confidence and authority.
3. Be prepared to back up your opinions with data. Whenever possible, try to support your opinions with data. This will show others that you have done your research and that you know what you are talking about. Having data to back up your claims will also make it more likely that people will take you seriously and respect your opinion.

Part of your role requires you to hold challenging conversations with others and make unpopular decisions. When doing so, you need to carefully explain why your suggestions are in the best interest of your company and avoid anything becoming personal. This approach will help you preserve trusted relationships.

Leaders often receive criticism and pressurized situations may cause you to act out of character. Avoid making excuses or blaming other factors. Take responsibility for positive or negative outcomes and lift yourself back up by continuing to set high standards.

Summary

CFOs are ideally placed to become the go-to person for key decisions in your organization. You can use your position to help your company succeed by providing insights on a variety of strategic issues and helping to solve other people’s biggest challenges. This will position you as a vital member of your leadership team and demonstrate your role as the co-pilot to your CEO.