Can a Fractional CFO Return to Corporate?

Last week I posted a Q&A with Todd Serulneck on his decision to take a career path as a fractional CFO. At the end of our conversation, he flipped the table and asked me a futuristic question.

Is it possible to move back into a corporate role
after several years as a fractional CFO?

It is a great question, and I’m sure he isn’t alone in wondering whether it can be done and how challenging such a move would be. Here are a few of my thoughts.

Yes, I believe it is possible.

When you bring problem-solving value to the table, anything is possible for a company who needs your skill set … which today, includes soft skills. If anything, communication, relationship management, work ethic, creative problem-solving skills may even be enhanced during time as a “business-builder.”

What can happen with a fractional CFO is akin to those of a consultant … you don’t always get to see the results of your actions. Therefore, it is critically important that you …

Keep track of your measurable wins.

Words like “improving,” “increasing,” “decreasing,” and “reducing” are meaningless without context. This challenge isn’t exclusive to fractional CFOs. In fact, it is widespread among corporate CFO candidates. Keeping track of metrics matters, and using them in personal marketing documents matters greatly.In fact, it is almost impossible to compete without them.

While your financial acumen got you to the CFO seat, it is your ability to solve problems and deliver value that is most appealing to a prospective company who is facing seemingly insurmountable obstacles, dismal growth, and/or declining profits.

Don’t lose your sweet spot.

Companies rarely hire “jack-of-all-trades, masters-of-none,” these days. Rather, they are focused on specific skill sets and experience that a CFO brings and which it needs. Even as a fractional CFO, it is important to play from your strengths.

As paradoxical as it may seem, operating from your sweet spot and taking advantage of the ripple effect that niched positioning affords only improves a candidate’s compelling value proposition.

Be visible.

Whether building a book of business or conducting a job search, it is incumbent upon each CFO to create and maintain visibility among his targeted audience. That visibility and resulting relationships could be the difference between an easier – or – more challenging move back to corporate.

Let me know if I can help!

 

Copyright CFO-Coach 2018

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Cindy Kraft is the CFO-Coach and America’s leading Career & Personal Brand Strategist for Corporate Finance Executives helping clients understand their marketability, articulate their value, and position themselves as the clear and compelling choice. She is a Certified Reach Personal Brand Strategist, Certified Reach Online Identity Strategist, Certified Career Management Coach, Certified Professional Resume Writer, and Job & Career Transition Coach. Cindy can be reached via email Cindy@CFO-Coach.com, by phone 813-727-3037, or through her website at www.CFO-Coach.com.

The CFO of Today and Tomorrow

Although this article from Laura Miles at Bain & Company was written a year ago, I think it quite accurately address the challenges CFOs face in maximizing value for their companies.

These points also translate pretty well to a Finance Chief’s secret weapon in marketable positioning when he decides it is time to move on to a new opportunity. This summation by Ms. Miles …

Only after you determine where to excel, understand your starting point and lay plans for closing the gap can the finance function be the strategic partner it needs to be.

… lays the groundwork for compelling C-A-R+SI stories for value positioning. Challenge – Action – Result + Strategic Impact. What challenges, problems, situations, issues can / have you solved; how; what are the measurable impacts to the bottom-line; and how have your efforts strategically positioned the company?

Understanding what you love doing, do well, and want to do more of in your next role fosters the self-awareness of your unique problem-solving abilities within your sweet spot. You can then articulate your value through the lens of solving problems and adding value to the executive team of prospective companies.

Oh, there are shortcuts …

— focusing on duties and responsibilities because that is a comfortable paradigm requiring zero effort;

–  using impacts, even measurable impacts, but with no context for the reader to understand the associated problem-solving capabilities; or

– creating marketing documents (resume, Linkedin profile, cover letters) that are so superficial in nature that any true ability to add value is not readily apparent.

However, when competing for those coveted, and limited, Chief Finance Officer roles, making sure you understand your value increases …

– your opportunity to win that strategic partner position in a right-fitting company; and

– that company hiring the exact, right candidate because it clearly understood – and needed – your problem-solving skills.

It’s a win for all sides!

 

Copyright CFO-Coach 2018

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Cindy Kraft is the CFO-Coach and America’s leading Career & Personal Brand Strategist for Corporate Finance Executives helping clients understand their marketability, articulate their value, and position themselves as the clear and compelling choice. She is a Certified Reach Personal Brand Strategist, Certified Reach Online Identity Strategist, Certified Career Management Coach, Certified Professional Resume Writer, and Job & Career Transition Coach. Cindy can be reached via email Cindy@CFO-Coach.com, by phone 813-727-3037, or through her website at www.CFO-Coach.com.

What is Your Status?

During job search coaching sessions with clients, we always talk about the importance of Linkedin as a critical piece of a balanced search strategy. What is vital to remember, though, is that merely “building” a compelling profile is only the first step when your goal is to create visibility and attract opportunities.

When I did a search using “CFO” today, I got 443,837 results. That … is a lot of Finance Chiefs! Clearly key words are important to your profile, but I would also suggest that using the status update bar is a gold nugget strategy most Chief Finance Officers do not fully utilize.

Look at this stat on the impact of posting a status update …

One status update can occupy up to 80% of the feed screen, pretty impressive real estate. With the right kind of LinkedIn status updates, you can make a huge difference in the amount of visibility and attention that you receive.

I recognize that my CFOs are busy people. Most are barely engaged on Linkedin and a big fear is that using any social media requires an inordinate amount of time and energy. My philosophy is that consistency and constancy really rule the day; meaning, be constantly consistent in utilizing the status update bar howeverthat fits into your schedule. If posting once a week is something to which you can commit, then be constantly consistent about your weekly posting.

In social media, “build it and they will come” just does not apply … because there are always new players coming to the table. By strategically using the status update function, you can separate yourself from the competition with updates that showcase your thought leadership and your branded positioning.

If you want to boost your visibility on Linkedin, give me a call. I would be delighted to help you!

 

Copyright CFO-Coach 2018

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Cindy Kraft is the CFO-Coach and America’s leading Career & Personal Brand Strategist for Corporate Finance Executives helping clients understand their marketability, articulate their value, and position themselves as the clear and compelling choice. She is a Certified Reach Personal Brand Strategist, Certified Reach Online Identity Strategist, Certified Career Management Coach, Certified Professional Resume Writer, and Job & Career Transition Coach. Cindy can be reached via email Cindy@CFO-Coach.com, by phone 813-727-3037, or through her website at www.CFO-Coach.com.

3 Career Questions for CFOs

Recently Forbes published an article on the 10 biggest changes expected in finance this year. The author asked the question …

“Can your business evolve with the trends shaping the industry
or will it lag behind and suffer the consequences?”

Perhaps the same could be asked for you professionally in your role as a Chief Financial Officer.

– Can you remain solely focused on numbers and be competitive with those CFOs who are also intimately engaged with operational functions?

– Can you rely on duties and responsibilities to move you to your next role to the exclusion of clearly illustrating and articulating your track record of solving problems and delivering tangible impacts?

And finally,

– Can you afford to wait until you need a job before you begin thinking about your next (or first) CFO role?

My professional opinion is that the answer to each of those questions is a resounding “no.” At least, not without suffering consequences … perhaps extending an already agonizingly long job search.

While the average tenure of a Finance Chief is roughly 5 years, the reality is that nothing is guaranteed. Companies come and companies go; they are sold and acquired; and for the most part, the Finance Leader is only loved, and retained, as long as the bottom-line is showing a healthy profit.

With Finance Executive tenure trends in mind, I would encourage you to …

-identify and leverage your differentiating niche,
-hone your problem-solving messaging, and
-get on the radar screen of those organizations who need to know about you.

And, consider doing all three sooner rather than later.

 

Copyright CFO-Coach 2018

***********************

Cindy Kraft is the CFO-Coach and America’s leading Career & Personal Brand Strategist for Corporate Finance Executives helping clients understand their marketability, articulate their value, and position themselves as the clear and compelling choice. She is a Certified Reach Personal Brand Strategist, Certified Reach Online Identity Strategist, Certified Career Management Coach, Certified Professional Resume Writer, and Job & Career Transition Coach. Cindy can be reached via email Cindy@CFO-Coach.com, by phone 813-727-3037, or through her website at www.CFO-Coach.com.

3 Keys for Navigating the Job Search Maze

Have you ever been, or even felt, utterly lost?

A few years ago, 2011 to be exact, I was headed to Phil Campbell, Alabama to help following the E5 tornado that devastated that town. Having never been there before and being incredibly directionally challenged, I was completely dependent on my GPS to get me there. Unbeknownst to me AND apparently my GPS, I was following the path the tornado took and several of the roads I needed to travel were blocked by downed trees. I was horribly lost. A gas tank that seemed to be leaking fuel only enhanced my feelings of panic. I was alone and I was lost and I was panicked – not a good combination when faced with trying to resolve a perceived threatening situation.

I know, because my CFOs tell me, that sometimes the job search can evoke the same sorts of feelings. Maybe not all three and maybe not to the extreme, but especially men who hold the breadwinner perspective and have families to support can and do struggle when it comes to participating in the ugly and confusing world of job searching that is often full of either rejection or silence.

Here are 3 keys for combating those negative feelings should any of them rear their ugly heads.

Alone

Navigating the job search maze alone can be overwhelming, especially when there is no objective voice bringing balance to a challenging journey. Even a supportive spouse or family member, when faced with a longer-than-anticipated search, can begin to doubt the wisdom of searching.

The truth is, especially at the C-level, the search is almost always longer than it could/should be. There are only so many Chief Financial Officer positions and companies are terrified of making a costly wrong hire.

Be sure your support system is solidly in place for the long haul.

Lost

How to actually conduct an effective job search is often a mystery to my Finance Executives. They have spent years immersed in doing their jobs with great loyalty to the companies and teams they have helped lead, so when it comes to identifying their next opportunity, they can be at a loss.

At the senior level, the job board black hole is not your friend. Despite how easy the boards seem, the posted position game is neither easy nor particularly effective.

Navigating the job search maze requires a balanced plan that is both proactive and passive … networking and creating visibility among your target audience.

Panicked

My panic was born of having a plan that did not allow for contingencies. A paper map, while maybe not being extremely helpful, would have helped me get my bearings.

Panic (or worry or fear or anxiety) can set in when we don’t have a plan, or a plan that is flexible. If your sole strategy is playing the posted position game or posting something like this on Linkedin …

“looking for my next meaningful CFO role”

… something akin to panic is a likely outcome when weeks turn into months and you find yourself lost in the silence that is too often a big part of the job search process.

Create a balanced, flexible plan that plays to the things you do well and will commit to doing, and then execute that plan consistently and constantly … and start well in advance of when you would like to make a move.

I did, finally, get to Phil Campbell, and it was an experience I am not likely to ever forget! Sometimes the best thing we can say about a difficult journey is … there is often great room for growth in the midst of it.

 

Copyright CFO-Coach 2017

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Cindy Kraft is the CFO-Coach and America’s leading Career & Personal Brand Strategist for Corporate Finance Executives helping clients understand their marketability, articulate their value, and position themselves as the clear and compelling choice. She is a Certified Reach Personal Brand Strategist, Certified Reach Online Identity Strategist, Certified Career Management Coach, Certified Professional Resume Writer, and Job & Career Transition Coach. Cindy can be reached via email Cindy@CFO-Coach.com, by phone 813-727-3037, or through her website at www.CFO-Coach.com.

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Always Lead with Your Value

I saw some really bad advice given this morning, and it was sent to a very large audience of Senior Finance Executives. In good conscience, I cannot let this flawed advice stand unchallenged.

Don't Date Yourself
Don’t Date Yourself

Here’s what I believe to be very bad advice for Chief Finance Officers or other Senior Executives …

I strongly believe in putting the academic background at the top of the resume with graduation date(s), especially if it is impressive. 

Don’t do it. Unless you graduated five or less years ago, your academic background does not matter [nearly as much] as your career impacts. And let’s face it, CFOs and Finance Leaders weren’t born yesterday, nor did they graduate yesterday.

Please don’t do it. Don’t lead with something that can only set up age discrimination, particularly for those looking to exclude you. Don’t sabotage, negate, or diminish your solid value positioning by focusing on something that happened 20 or 30 years ago.

Always … lead with your value. Always!

If you are a Finance Executive and want to know how to create a marketing message that ensures you lead with value, contact me. It’s my passion!

Recorded Interviews

I posted an article on Linkedin Pulse about the new, and rapidly expanding, trend of recording candidate interviews. There is much we don’t know about the ramifications to a candidate when his interview is recorded, but this practice begs the question … does an interviewer’s demand / requirement to record an interview trump a candidate’s rights to refuse? What about questioning what happens to that recording? Or, asking how it will be used post-interview?

After I posted my article, I received an email from someone who was happy to share their story and for me to share it without attribution. To maintain confidentiality, here is my summary of that email.

I had a company ask me to not go see candidates but instead to conduct Skype interviews and record each one so that they could see them as well. Yes, that made me uncomfortable and also as a veteran recruiter it made me think they didn’t trust my judgment.

In my state, you are required to tell the candidate that they are being recorded, which I did. The quality was not always great. The company said that if anyone doesn’t want to be recorded, then we don’t want them. In all if was uncomfortable and the idea that a professional would be giving the yah or nay based on a video tape was not in the best interest of the client.

What do you think? Would you go along with a recorded interview regardless of the unknowns?

Interviewing & Technology
Interviewing & Technology

Techology … the Next CFO Responsibility?

Should CFOs yield the technology responsibilities that come with making faster data-driven decisions to a new C-suite officer? Or, does the Finance Leader need to own that decision-making process? Is there room at the executive table for another C-suite executive … and enough financial bandwidth to cover another executive compensation package?

I’ve been writing about the trend I’m noticing among Chief Financial Officers and the new breed of CFOs who possess strong technology acumen. Here’s my latest article on Linkedin Pulse.

But, in polling Finance Chiefs in the SmartBrief for CFOs, the results of two polling questions are … interesting.

Last week’s question was around how technology is driving the current evolution of the CFO role, and asked how many CFOs held responsibility for the IT function. While 44% said IT was a separate department, 42% said they currently oversee IT and another 3% will be adding that function to their ever-evolving responsibilities this year. So, pretty much a 50/50 split among those who responded.

With 50% saying IT was a separate department, it begged a follow-up question in this week’s SmartBrief for CFOs …

Is there room at the executive table for a Chief Analytics Officer to manage and analyze data?

At the time this blog was posted, almost 50% said no to another C-suite executive role.

What do you think … will the finance role evolve to absorb this increasingly critical technology function, or will it require yet another C-suite table mate? Feel free to vote in this week’s poll and/or leave your thoughts below.

Chief Analytics Officer
Chief Analytics Officer

A Thankful Heart

As we in America pause this week to give thanks for all the blessings bestowed on us, I am thankful for all of you – my faithful readers. This is my 20th year in business and I’ve been writing my blog since 2005. I hope that something, even one seemingly small thing, I’ve written over the last almost 10 years has proved helpful as you’ve moved through your career.

Happy Thanksgiving! May your hearts be overflowing with gratitude this week and throughout the coming year, for we truly are a richly blessed people.

Happy Thanksgiving!
Happy Thanksgiving!

Online Anonymity

Am I the only one who feels like “Online Anonymity” might be today’s ultimate oxymoron? Is there any reason to be online if you want to be anonymous? And if you want to be anonymous, why send a contrary message by being, sort of, online? Riding the fence is not a good option when we are talking about the importance of a digital footprint.

Perhaps I’m feeling just a bit beleaguered as I work through a very, very long list of CFOs who have requested to join my CFO-only careers group on Linkedin. In a list that I have finally pared down from about 600+ requests, I can maybe – maybe – find 50% with profiles that include credible evidence the person is who s/he says he is. If your Linkedin profile is so scaled back that I – a mere career coach who works with Chief Financial Officers – can’t determine that you really are a Finance Chief, what do you think your target market is thinking? My guess would be that much like me, they doubt your credibility. Not that you aren’t credible and accomplished, but there is nothing to support that positioning.

Here’s some advice, which is really only valuable if you actually take it.

Decide whether you want to be online or you want to be anonymous, and if it is the former, then show up fully, completely, and compellingly. It does not help your messaging to have one foot online and the other foot firmly planted in in your desire to be anonymous.

My most recent post on Linkedin Pulse supports my belief that when you show up online, with a value message that resonates with your target audience, you will reap the rewards.

An Authentically Branded CFO
An Authentically Branded CFO