3 new years resolutions for the modern cfo
TRANSCRIPT
3 NEW YEAR'SRESOLUTIONS FORTHE MODERN CFO
IN 2015
H E N R I S T E E N K A M PC F O , S A R A T O G A I N V E S T M E N T C O R P
H E N R I O N L I N K E D I N
Take a look at your business.
Take a look at your business.
The beginning of year is a great time to reflect on where yourcompany has struggled and where it has succeeded over thelast twelve months.
Take a look at your business.
The beginning of year is a great time to reflect on where yourcompany has struggled and where it has succeeded over thelast twelve months.
This is the right time to set company resolutions to begingrowing and impacting your numbers in 2015.
Take a look at your business.
Take a look at your business.
What are your current top priorities as a CFO?
Take a look at your business.
What are your current top priorities as a CFO?
Revenue drivers.
Take a look at your business.
What are your current top priorities as a CFO?
Revenue drivers.
Expense drivers.
Take a look at your business.
What are your current top priorities as a CFO?
Revenue drivers.
Expense drivers.
Financial relationships.
Revenue drivers
Revenue driversDevising revenue drivers can be difficult for CFOs thatsee themselves in more of a scorekeeper role than astrategic role.
Revenue driversDevising revenue drivers can be difficult for CFOs thatsee themselves in more of a scorekeeper role than astrategic role.
However, this brainstorming initiative is onecharacteristic that separates the most successfulCFOs from the rest. The CFO must ask himself whatthe company could be doing to improve and which“night and weekend projects” would be mostprofitable as fully-fledged departments with funding.
Expense drivers
Expense driversIf one side of the CFO’s coin is growing revenue, theother side is cutting expenses. But, as any CFO knows,challenging your company’s expenses is not as easyas crossing things off a shopping list.
Expense driversIf one side of the CFO’s coin is growing revenue, theother side is cutting expenses. But, as any CFO knows,challenging your company’s expenses is not as easyas crossing things off a shopping list.
The most effective way is to use zero-based budgetplanning. Rather than taking last year’s numbers forgranted, the CFO starts from 0 and mindfully goesover every expense as he works his way to the top.
Financial relationships
Financial relationshipsAside from keeping an eagle eye on the expense andrevenue buckets, the CFO must cultivate relationshipswith the institutions and investors who hold financialinfluence over the company.
Financial relationshipsAside from keeping an eagle eye on the expense andrevenue buckets, the CFO must cultivate relationshipswith the institutions and investors who hold financialinfluence over the company.
There are lots of ways that these relationships canbenefit the company, but those advantages are onlyavailable to CFOs who have spent the time attendingto those relationships.
