- Jan 15, 2020
- 3 min
- Jul 16, 2019
- 2 min
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CFO Coaching & Mentoring
What are the benefits of our CFO mentoring and coaching services to your current finance team?.
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Knowledge that you are providing your team the greatest opportunity for improvement
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Business improvement as the strategic capability of your CFO or financial controller grows
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Additional experience across a broad range of challenges and issues
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Through our CFO coaching and mentoring program, your finance team gain skills to grow personally and professionally
COACHING & MENTORING OF YOUR FINANCE TEAM
Your financial controller has been in the business for a long time. They have done a great job and you are looking to promote them or have recently promoted them to be the CFO.
The transition from financial controller to CFO can sometimes be more of a leap than a step. Especially in a smaller enterprise there is no-one to provide guidance on what needs to be done and no-one to ask how to do it. Given the strategic significance of a CFO, getting this piece right will provide the organisation with the greatest opportunity of success.
It is important for them, the CEO and the board that your newly promoted CFO has a robust appreciation of what is involved, how to think and act strategically and what it takes to drive the necessary behaviours through the business to reach the milestones and objectives. CFO coaching and mentoring might be the next step to build the skills of your team and grow your business.
The Problem
Quite simply there is no guide-book on how a CFO can use the combination of finance and strategy to drive change through the organisation. Indeed, covering the breadth of the requirement from strategy to forecasting to risk analysis to capital raising activities can be a daunting development and requires a steady pair of hands.
How CFO Evolve can help your business
CFOs typically enjoy to teach and they love to help build team, skill sets and overall, the business. CFO Evolve offer their highly experienced CFOs for CFO coaching and mentoring purposes to financial teams that have incurred rapid growth, undergoing inorganic growth such as via a merger, acquisition or strategic partnership and require extra assistance and guidance from a strategic financial perspective.
Utilising the senior experience of a part-time CFO for CFO coaching and mentoring purposes, they can be a helping hand and instructor in the initial stages and over the longer term provide more of a sounding board as new challenges arise.
What are the benefits of our CFO mentoring and coaching services to your current finance team?
-
Knowledge that you are providing your team the greatest opportunity for improvement
-
Business improvement as the strategic capability of your CFO or financial controller grows
-
Additional experience across a broad range of challenges and issues
-
Through our CFO coaching and mentoring program, your finance team gain skills to grow personally and professionally.
If you think that a part-time CFO could assist you and your business with CFO coaching and mentoring please use the quick contact button below.
Case Studies & Opinion Pieces
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Our highly strategic part-time and virtual CFOs have experience across a broad range of C-suite services. We are highly capable part-time and virtual CFOs that can guide your business through cash flow management and forecasting through to developing a strategic plan or an acquisition strategy.
Below details some of our core services, but for a more in depth conversation about how we can help you, please contact us for a confidential conversation.
If you are looking for business growth in your business a dedicated part-time CFO could grow your business with a combined approach of strategy and financial insights across process improvement, business efficiencies and business growth through inorganic means such as acquisition or partnerships.
Cash flow is critical to your business' success and survival. If you don’t take care of your business' cash flow, you could end up not having enough to continue running the business.
A part-time CFO could guide you through a cash flow restriction to ensure your business remains cash flow positive.
If you need to provide robust forecasting for one-off funding purposes or wish to use a forecasting model in an ongoing manner that incorporates your profit and loss, balance sheet and cash flow to have full understanding on where your business is going and its challenges, engaging a part-time CFO may assist evolve your business to the next level.
Having a clear strategy, strategic plan or business plan are fundamental building blocks to achieve growth. Your business plan needs to expressly state where the business is going, the strategies to achieve those outcomes, who is accountable for the strategy and the timeframes and measures to ensure they are on-track.
At CFO Evolve; our part-time CFOs build your company a strategic plan or business plan that works.
There are risks associated with many parts of business. Anticipating a business risk and uncertainties before they occur and ensuring the mitigation strategies are incorporated in the strategic plan goes a long way to taking the fluctuations out of your business and ensuring you are on a steady growth curve.
If your business requires a business risk review, a part-time CFO can begin the process much quicker than if you hire an internal CFO.
Whether through debt or equity, a bank, venture capitalist or private equity, it is important to make your organisation ready as a solid business with a strong profit & loss and balance sheet and as an attractive investment to optimise the result.
Our part-time CFO services prepare your company through 3-way forecasting, business planning and process improvement to enable your business is prepared for funding, investment and capital raising.
If you are looking to maximise business profit, CFO Evolve could grow your business with process improvement, business efficiencies and focus on the areas of your business to maximise profits, turn wasted hours into productive ones, saving time, frustration and money.
As the business grows and becomes more complex, even if you have the capability to effectively monitor your financial controller and accountant in particular, it becomes questionable whether you have the capacity or if this is taking you away from growing the business. A part-time CFO can provide this oversight of your accounting functions, providing guidance and an expert skill set to ensure the delivery of this department.
One of the milestone developments of your business will be the creation of an advisory board. It could be the next step in reporting and governance or a pre-cursor to a board of directors. Whilst it is important to have an industry specialist and someone strong in governance such as a lawyer, having a part-time CFO member to provide strategic financial advice in the team is key to the success of the advisory board.
Different from classic business planning, the strategic variety (incorporating acquisition, exit and other strategic activities) involves a long term horizon and out-of-the-box thinking. A strategic acquisition plan helps to provide direction and focus. It points to specific and rapid growth plans with results that are to be achieved and establishes a course of action for achieving them.
A good business coaching provider will not only review your business for growth areas but review the ability of the senior team and the leadership. Business coaching provides developmental ideas that can increase performance from the top down and can provide a sounding board for the CEO and Managing Director on business pain points to be addressed.
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