🗺️ CFO’s First 90-Day Blueprint

So you’ve stepped into your first role as a CFO! Congrats!

Now take a step back.

Yes, a CFO is expected to lead a company’s finance function and spearhead financial reporting. Yes, a CFO is also responsible for providing insights and strategies that move the business forward.

But you don’t need to dive straight into the long-term in the first 90 days.

Your first 90 days are crucial to your efficiency and efficacy and will set the tone for the rest of your career in regards to listening, learning and building relationships. Only once you’ve ticked those three boxes can you start making big changes and building a roadmap for the future — both yours and your company’s.

How You Should Spend Those First 90 Days

Make no mistake: Just because you’re spending your first 90 days getting up to speed on the company, its finances, and its teams doesn’t mean you can’t secure some quick wins. 

Here’s the 90-day checklist Tom Seegmiller, CFO of Texada Software, followed to set himself (and his team) up for success when he first stepped into his role:

1. Listen to every member of every team you encounter: Focus on asking questions that empower you to understand where and how you can help them.

2. Focus on building relationships: There will be plenty of time to dig into OKRs and develop action items –– but this time is for meeting people, getting to know them, and understanding how you can work together.

3. Find immediate wins for others: Whether large or small, identifying the wins that can make employee lives easier and bring the company additional revenue will earn you brownie points right off the bat.

4. Create a killer team: CFOs are leaders –– and mentors. Dig into your team’s strengths and weaknesses and design workflows around what everyone does best.

5. Start thinking about your long-term vision: Based on your conversations, what needs to change, and what should stay the same?

The Roadmap for Your Roadmap

When it comes time to create that all-important success roadmap for your finance function and your organization, it can feel a bit like drinking from a fire hose –– especially for those brand-new to the CFO role.

The good news? You’re probably not starting from scratch. In fact, don’t assume that you are.

By having all those conversations with members of your organization, you’ll likely come away with a solid understanding of what the company’s current long-term vision looks like. Leverage that and your understanding of the current strategy to build your vision.

By digging into the current organizational vision and proposing tweaks or changes based on what’s already there, you’ll get a great perspective of how the company is building the things that matter. It’s rare to get such an opportunity, so savor it — you’ll be the one setting the tone in the future!

Our conversation with Tom touched on so many more topics relevant to new CFOs, from the power of mentorship to the importance of making mindful connections. The latest episode of The CFO Show is a must-listen.

In case you missed it…

When you think of professional sports teams, you probably don’t think about the CFO… but they’re essential to the strategic success of the franchise. What’s more, what happens on the books can impact what happens during the game, as James Suh, CFO of the Florida Panthers, shares in his conversation with The CFO Show. 

What’s next…

Small businesses often face a challenge when building out the finance function. They need someone to help with the day-to-day (payroll, accounting, and taxes) and also with their business strategy, financial planning, and fundraising. Often, these skills are hard to find in one or two individuals—and that’s where Kendra James-Anderson, founder of The Finance Femme, comes in.