Secret CFO

Hi 👋 I’m The Secret CFO. I just crossed 50k followers on here, so it’s a good time to re-introduce myself. Here’s my story👇 I’m a career corporate CFO for ($bn+ P&Ls) I’ve been in the finance profession (starting in the Big 4) for over 2 decades. With almost half of that time as CFO, in big multinational businesses. Through a combination of luck and hard work I got up the ladder quickly. I had a few mentors along the way, but I mostly worked it out myself. The path to CFO felt a bit like a mystery. Even after I’d walked it. Being one of the lucky ones, I feel a responsibility to make it simpler and clearer for others to climb the ladder. In August 2022 I started sharing my thoughts on Twitter about how you might do that. I assumed no-one would read it. I was wrong. Very wrong. It blew up. I grew to over 100k followers in less than 12 months. And decided to start posting on LinkedIn too. My goal is to get real life insights to as many current and future CFOs as possible. Most content written on the CFO role is sh*t. Based on textbook theory, written by people who have never done the job. Often by those with software, consultancy or advisory to sell. I promise to be different to that. I bring my decade of experience in the top finance job, and a willingness to share. Writing is a hobby for me, and this is my way of sharing it. I have specialized in complex situations; turnarounds, refinances, exits, M&A, transformations, etc. I’ve been lucky to work with super-entrepreneurs, outstanding public company CEOs, and experienced boards. Not to mention all of the accounting and finance pros I’ve worked with and for along the way. I love writing about finance - it's become a hobby. I can document my ever changing views on what I’ve learnt through my career. And by writing under a pseudonym, I can share more, and be more interesting and helpful to more people. You can expect content on: - simple summaries of finance concepts - the every day practical realities of the CFO role - skills leading large teams - broader business skills relevant for CFO - how to make great finance career decisions - hot takes on finance news and topics - silly jokes and memes Make sure you follow my page now, so you never miss a beat. PS - tell me what part of the CFO role you'd like to learn more about. Just drop a comment below.

"Ok, Secret CFO, but how do I land my first CFO job?" That's probably the question I get most. Well, right after "am I going to get fired for this...?" (followed by a long rambling scenario that will likely get the emailer fired). Making the leap from VP of Finance to CFO is not an easy one. But did you really expect it to be? In this week's newsletter, I break down the 7 strategies for hunting down your first CFO role: 1) Be specific about your search 2) Look inside first 3) Level up by leveling down 4) Cold emails 5) Get a chair mentor 6) Make recruiter friends 7) Use your advisors Join 43,000 other CFOs and aspiring CFOs who will get the full deep dive in their inboxes tomorrow morning. Subscribe for free now. Sign up here --> https://www.cfosecrets.io/

Did Santa miss anyone?

Time for a reader question ... Rhamey from Atlanta, GA asked: "How did you balance getting a CFO job at a smaller company (eg $500M) vs staying longer in a VP of Finance role at a larger company?" Here's my answer ... what would you add?

You’ve heard of fantasy football. But what about fantasy CFO? It’s a little game I liked to play coming up through the ranks… Stay with me here… First, hop on a publicly traded company’s earnings call. Good news… they happen almost every day. Then, start playing along. Write down the analysts’ questions during the call and think about how you would answer them. Think about what you would have said instead of the CFO, especially when on the hot seat. This may sound silly, but it’s a great way to get reps in and “be in the room” without actually being in the room. Why do this? So much of what you’ll do as CFO (when that time comes) is tough to prepare for. Impossible in most cases. But that doesn’t mean you can’t spend time seeing how other CFOs frame the company’s story. Or how they navigate difficult or uncomfortable questions. Especially keep an eye on what happens when analysts smell blood in the water and dig into a weak spot. In this week’s CFO Secrets newsletter, I shared 7 tactics every aspiring CFO needs to know to be prepared for the leap to the big leagues when that call comes. Click here to read it now ---> https://lnkd.in/d286fU3e

Are you a 'nearly CFO'? Or an 'almost-nearly CFO'? OR maybe even 'not-quite-on-the-CFO-path yet'? Well, in addition to all the skills you need to GET there, there's a whole lot of skills you'll need once you're there. And, unfortunately, they're different than what you'll need to succeed as an analyst or VP. But there are 7 ways to fast-track your readiness for the C-Suite... 1: Get in the room where the action happens before you're a CFO. Soak up everything you see and hear. 2: Write the CFO update for your boss. They'll appreciate it and the experience and feedback will be invaluable. 3: Practice being on stage. Get in front of people early and often. 4: Get on the front line. Learn how your business works. Sit on sales call. Spend time on the factory floor. 5: Lead a business wide project. You'll become more visible and it'll open doors (see #1) 6: Spend more time with CFOs. Surround yourself with the people you want to become. 7: Join investor calls and play along. Role-play the situation as if you were the one in the hot seat. It's ALL about repetitions. Get them whenever you can. You can get access to all my tactics in tomorrow's CFO Secret's newsletter. Subscribe now for free ---> https://www.cfosecrets.io/

This week's reader Q&A... Operational CFO from Ohio, USA asked: "I recently started my 4th MM PE CFO role. I walked into a company that's distressed but will feel an additional equity injection shortly. In the first week, I've come to realize the current finance/accounting department is incredibly compliance and accounting-driven rather than business or data-driven. I want and need a good controller and accounting team to lean on so I can focus on driving the business. That said, I need to move their focus out of that mindset while maintaining their quality work, not steam-rolling them or turning them off during a time of change. I've typically inherited incompetent teams in prior roles, which isn't the case here. It's a matter of moving focus and tweaking the culture. Any suggested approaches to enact this change?" Would you add anything else?

"What got you here, won't get you there" New CFOs have to watch out for their Intangible Liabilities. These are the skills that are essential the minute you hit the CFO seat, but you have had VERY little opportunity to practice on the way there. You have to grow from beginner to expert overnight. In my first CFO role it shocked me how little my career so far had prepared me for some parts of the role. The mission with my newsletter is to make this clearer, and help new CFOs feel better prepared. Based on my own experience I have seen six areas new CFOs have struggled; the 'Intangible Liabilities'. In the last newsletter post we broke each of these six down, what they mean and why they are important. If you missed the post, you can read it here --> https://lnkd.in/ecCeZ2wG

Secret CFO just wrote a post that will save you pain when hiring a CFO. The #1 mistake companies make? Focusing only on technical skills. 🎯 After 15+ years in finance leadership, he has learned there are 6 "intangible skills" that separate great CFOs from good ones: 1. Board Management ———————————————- ✅ Most CFOs can present to a board. ⭐️ Great CFOs influence the board's strategic direction. 🏆 Elite CFOs shape the conversation before it even happens. 2. Number Ownership ———————————————- ✅ Most CFOs report the numbers. ⭐️ Great CFOs own the numbers. 🏆 Elite CFOs feel the numbers in their bones. 3. Forward Vision ———————————————- ✅ Most CFOs analyze the past. ⭐️ Great CFOs predict the future. 🏆 Elite CFOs shape the future. 4. Deal Leadership ———————————————- ✅ Most CFOs support negotiations. ⭐️ Great CFOs lead negotiations. 🏆 Elite CFOs close deals others can't see. 5. Public Face ———————————————- ✅ Most CFOs speak finance. ⭐️ Great CFOs translate finance. 🏆 Elite CFOs inspire confidence. 6. Pattern Recognition ———————————————- ✅ Most CFOs see department problems ⭐️ Great CFOs see connections between departments 🏆 Elite CFOs create synergies. 💡 Key Takeaway: When hiring your next fractional CFO, dig deeper than the resume. 👏🏽Ask 👏🏽 for 👏🏽specific 👏🏽 examples - of these skills in action. CFOs like Stuart, Seamus, Duke, Alex, Sid, Sam, Jon, Tyler and Jason will ALL be able to give you examples (me too). They were all Directors, VPs and CFOs in prior roles. Your business deserves more than just a numbers person. It needs a strategic partner. And actually - sometimes it doesn’t. Sometimes a controller or analyst is what you need. But make sure you get what you need! Agree? Disagree? What other intangible skills would you add to this list? #CFO #Finance #Leadership #BusinessStrategy #ExecutiveHiring --- 👉 Like or comment if this was helpful! 💌 Follow me for more insights on financial leadership

New month means a new CFO Secrets series... In December we'll be diving into how exactly to make the leap to CFO. I found bridging the chasm between business unit CFO and Group CFO to be the biggest challenge of my career. It was daunting in ways that I couldn't understand until I was in the seat. Along the way, I developed and picked up the skills and frameworks I needed to succeed (or at least survive, in the beginning). With the December series I'm hoping to help make your transition to CFO a little smoother than mine. In this three-part series, we'll tackle: Week 1 (Tomorrow) - The hidden skills you need to be a CFO Week 2 - Hacks to acquire those skills Week 3 - How to find your first CFO role I invite you to sign up for the free newsletter and join me and 40k other financial professionals as we try to figure this out together. Sign up here ---> https://www.cfosecrets.io/