As the potential CFO of a company, it’s important to make the most of the time you get to sit down with the CEO. Not only is this a valuable conversation that needs to occur simply for the success of the company, but it also gives you the opportunity to step outside of simply being the company’s go-to financial person. After all, a CFO brings much more to the table than just their knowledge of numbers. Here are a few questions you should be prepared to answer and create a new dialogue with your CEO.
What is the status of long-term goals?
You must be prepared to answer this question fully. After all, you are the key player in the financial goals of the company. Of course, the CEO likely has his finger on the pulse of the situation, but you should come prepared to provide current financials and data to support it. This is a great time to evaluate your company’s reporting system. Is it outdated? If so, bring this up as a caveat to this question. CEOs appreciate the efficiency and this is a great way to make your job easier while helping reach the long-term goals of the company.
What are the investment opportunities you are exploring?
This is the time to shine your skills. You know why certain investments aren’t strong enough or why you should be exploring other avenues that perhaps the CEO has been hesitant to explore. Speak up! Let the CEO know exactly why certain investments are stronger than others and be prepared to showcase how each investment opportunity compares. Keep in mind, this isn’t just about the CEO’s success, but the stakeholders are also counting on you to pull through here.
What is our funding and cash status?
Make sure you share this answer fully—even if it’s a difficult one. This question is not only asking about the current cash flow of the company, but also how spending and expenses are expected to change over time. This is one of the most important roles of a CFO, so make sure that you are fully prepared with all of the appropriate information to provide a thorough answer. Projects will depend on it.
If you have relevant experience in a Fortune 1000 company and are a Big 4 CPA and/or an MBA from a Top 25 Business School, we want to hear from you! We are always interested in speaking with qualified candidates about our accounting and finance consulting opportunities. DLC’s focused service offerings generally fall under the purview of the CFO.