In the 21st century business world, CFOs are being tasked with defining and leading company growth strategies like never before. Delivering consistent, sustainable, and measurably growth is a tough task made harder by the fact that most competitors are attempting to do the same thing, often by using similar tools.
How can CFOs deliver the growth their companies need in a way that best suits their organization’s particular talents, strengths, and market position? Consider the following tips for seizing growth opportunities and making them work for your company:
- Build trust. A CFO who is trusted across the company to provide sound advice has built the relationships necessary to lead a successful companywide growth initiative. These CFOs also have access to the information and advice they need to create and implement a growth initiative that works. Building and maintaining relationships is key to company growth.
- Know your company’s strengths and weaknesses. Any successful plan for growth depends on a clear-sighted view of your company’s strengths, weaknesses, and opportunities. Identify your organization’s strengths and leverage them while simultaneously pinpointing weaknesses and addressing them constructively – whether by filling a “talent gap” to eliminate a particular weakness or by pivoting your growth strategies so as to avoid weaknesses.
- Understand your addressable markets. CFOs who manage growth effectively have a clear definition in mind of their company’s addressable markets. They understand the competitive landscapes they currently face and anticipate the most likely challenges they will confront in the near future.
- Put the right players on your team. Leveraging your human resources and hiring activities can be a powerful tool for developing and maintaining growth strategies. Start by assessing your management team’s strengths and capabilities to ensure you have the right people in place to implement the company’s growth initiatives. Remember to assess the management teams at any companies that are the targets of potential acquisitions.
- Address skills gaps. Having the right people and the right skills available to complete projects successfully is key to sustained growth. Your staffing partner can help you identify “skills gaps” among your management team and find the talent needed to fill those gaps and implement your organization’s short- and long-term growth strategies.
At Daley and Associates, our experienced financial recruiters serve companies in Boston and throughout the Northeast. We’ll help you find the top talent you need to sustain company growth. Contact us today to learn more.