By Colin Mills, CEO, The FD Centre
Have you got a modern FD ( Financial Director) in your business? If you have, you’re probably thinking this article isn’t too helpful, if you haven’t, you should be thinking about getting one, not only because “Modern” FD’s are the only ones we ask to join us at the FD Centre (By the way — our experience shows that “Modern FD’s represent ONLY about 4% of all the FD’s on the market!), that’s irrelevant. The point is, your business will benefit significantly from having a “Modern” FD on board, and YOU deserve it! The benefit will exceed the cost many times.
So what does a “Modern FD” or “Bean Grower” actually look like?
Here’s my “short list” (there’s a longer one to!) of the main things to look for (my editor said I needed to share a list!). I’ve called it “My Top 10 Tips to Spotting a “Bean Grower”:-
1. Do you like them? Check all the other items on the list, but at the end — make sure you “feel” comfortable with your FD. You will probably go through a lot together. Best to do this with someone you feel you can get along with!
2. He/she should come with a set of business, commercial and strategic skills that is “super strong”.
3. They will have “been there, seen it a done it” a number of times over. Possible in your industry and definitely in others.
4. Does their track record show they’ve “done things” as opposed to just do a job. There’s a big difference! You want them to “do things” for you!
5. They will bring with them relationships that will get you speaking to the right people immediately at the right cost. This will include the obvious contacts like finance providers, legal professionals, Accountants and the like, but also marketing experts, IT experts, recruitment firms, and all the other sources of support you will need to grow your business.
6. They should come with a set of “contacts” that can help your business grow.
7. If you know you have specific issues (e.g — need to raise funds), have they got the demonstrable experience to fix them?
8. They should be able to speak your “language”. They need to know what makes your industry tick. Look for the relevant experience.
9. When you speak to them about your business — do they “Get It”. Can you speak freely and are you at ease? Can you see they understand what you mean? Do they show empathy around the big picture in your business? Have they got insight on the profit drivers that will help you grow your business.
10. Finally, the pre-requisite “Bean Counter” items:-
a. Qualified from one of the major Chartered Institutes.
b. Been a real life FD once, twice or several times over.
c. Able to talk to. Note: Some “Bean Counters” find difficulty communicating!
If you want to grow your business, you now have no excuse!
You now know what type of FD can really make a difference, what you should be looking for in the modern FD and of course where to go to get one. Don’t wait, click here now and get your growth moving!
At the FD Centre we only employ “Bean Growers”! By considering anyone else you have a 96% chance of failure! Get in touch with us today to see how we can improve your business for the future.
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