I work with a team of 10 high calibre Finance Directors across the North of England.
Each of them is accredited by one of the major chartered Institutes and each of them used to work for successful companies as ‘traditional’ Finance Directors.
By traditional, I mean that each of them used to work as the sole Finance Director within a corporation, working Monday through to Friday (and weekends), usually from about 8am to 6pm.
Rolling Back The Years…
The comedian Barry Cryer tells a story about a Finance Director walking down the street. The FD is approached by a homeless man. “Excuse me, mate” says the man “can you spare me a few quid, I haven’t eaten for two weeks”? “ I see” says the FD “And how does that compare with the same period last year”?
Of course, no FD would be that heartless but the story also hides a deeper truth – most of us think in fixed periods of time,
You might well know how to grow (i.e. do more of the things that are working for you, and do them better) but as a seasoned entrepreneur, you tend to instinctively want to hold back a bit…
Why?
It’s chiefly a case of paranoia…
Business owners tend to be more paranoid than they let on. They don’t like to be regarded as paranoid so they often hide it.
What are the causes of success?
Colin Mills – Founder & CEO, The FD Centre Limited (www.thefdcentre.co.uk)
So, to be a highly effective FD in your business, you have to be up to date on all the latest accounting standards, be really up to speed on the latest developments in tax legislation and spend long hours in your office reviewing reconciliations and signing off VAT returns. That’s right isn’t it?
NO.
Our experience over ten years suggests that highly effective FDs need a rather different set of skills to be effective and “make a difference” in the businesses they work for.
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