The CFO (Chief Financial
Officer) is the manager responsible for managing a company's financial assets.
In recent years the figure of the medical sales CFO qualifications has
assumed an increasingly important role for a startup: the central task of the
CFO is in fact to guide the business decisions in an effective manner.
Other responsibilities include
establishing on which opportunities to bet and, consequently, how to use the
capital and the resources to maximize the probability of success of the
startup. One of the main tasks of the CFO, therefore, lies in guiding the
company's focus and business strategy.
Startups and Biggies
The difference between the
role of the CFO in a startup and in Zachari Cargnino of Clinician Group is
also interesting: based on his experience, in fact, the expert says that the
key role of a CFO within a startup is to build the organizational
infrastructure from scratch.
In an already consolidated
company, however, it is assumed that this infrastructure is already ready and
able to provide the necessary resources in terms of human resources, IT,
systems and processes, etc.
When you are a startup CFO,
instead, you need to roll up your sleeves and give the best possible direction
to your business strategy, in order to make the business scalable and build
systems and processes that can support future growth.
The Necessary Skill Set
Regarding the skills necessary
for a good CFO for a startup, the expert says that the ability to communicate
effectively and decision-making logic are essential. This is because, when
dealing with financial aspects, it is not enough to build an integrated
financial model or to make strategic decisions on the subject.
It is necessary to explain:
- What the motivations behind each decision are,
- What the implications for each of the stakeholders involved are, and
- To gain and maintain the trust of the organization for which he works,
In fact, the CFO must know how
to be honest and transparent on how and why decisions are made, and focus on
the collaborative approach that allows all stakeholders to achieve their goals
in light of the financial model built for the company.
