Why I Will Always Be a CFO: Passion, Innovation, and Purpose
Introduction
Most believe that my role as Chief Financial Officer (CFO) has been replaced by computerized accounting systems. While those systems have undoubtedly transformed the accounting landscape, they have not diminished my passion for the profession that I love. Over the years, I have encountered numerous challenges, but my commitment to CFOing remains unwavering. In this article, I will explore the reasons for why I will always be a CFO, despite the advancements in technology and the changes in the job market.
The Evolution of Accounting and My Career Journey
Lack of Appreciation and Career Growth
One of the primary reasons why CFOs may find themselves looking for new opportunities is a lack of appreciation for their efforts and skills. With over 20 years of experience, including 8 years at my last firm, I had significantly contributed to the success of various business areas. However, I constantly faced the same excuses about the IPO market and slower-than-anticipated business growth. Despite my best efforts, I was asked to give more and more, while my compensation and recognition did not keep pace. It became evident that jobs outside of public accounting offered better compensation and significantly less effort, leading to a shift in my career path.
The Choice to Remain a CFO
I Will Always Be a CFO for Multiple Clients
While I have never truly stopped being a CFO for other clients, it is important to address the question of why I, personally, will remain a CFO. My favorite part of serving clients is helping them with marketing, sales, management, and operational strategies and initiatives. If I were to switch to a full-time COO role or focus solely on these disciplines, I would no longer identify as a CFO. However, being a CFO for multiple businesses allows me to work across all areas of the business, providing a holistic view and a deeper understanding of how financial strategies impact other aspects of the enterprise.
Other Career Opportunities
Should an opportunity arise that is too good to pass up, such as a CEO or President's position, my role as a CFO would come to an end. Financial leadership is a crucial part of running a business, and if given the chance to lead an entire organization, I would be more than ready to take on that role. Additionally, I have interests in media that, if pursued full-time, could squeeze out my CFO work. Despite this, I would still strive to maintain at least one client to ensure that my ideas continue to flourish, as helping others succeed is the driving force behind my work.
Passion, Learning, and Never Retiring
Passion for CFOing and Never Retiring
While some may see retirement as a natural progression, I have no plans to retire and see no end to my commitment to CFOing. Drawing inspiration from Warren Buffet, the legendary investor who maintains a work ethic without ever retiring, I believe that CFOing is not just a job, but a lifelong passion. My purpose lies in financial leadership and helping businesses achieve success. I will continue to embrace challenges and learn new technologies, viewing each opportunity as a stepping stone to greater knowledge and success.
Lifelong Learning and Technological Adaptation
For me, learning is an ongoing process, and I am always striving to stay ahead in the technology and methods that drive the modern business environment. I believe that technology will never replace the need for a skilled and experienced CFO, but will instead enhance their role and capabilities. I remain committed to embracing new tools and techniques to add value to my clients and continue to grow in my profession.
In conclusion, the choice to remain a CFO is driven by passion, a desire for continuous learning, and a deep-seated belief in the value of my role. Whether it's helping clients with financial strategies, leading a major corporation, or simply continuing to push the boundaries of what a CFO can achieve, my commitment to this profession will never wane.