Can I Really Be a CFO?
Am I qualified to be a CFO?
Don’t I need years of experience to reach the rank of CFO?
I’m just a [bookkeeper/CPA/accountant/enrolled agent], do I have what it takes to be a CFO?
We get asked questions like this all the time from accountants, CPAs, bookkeepers and Enrolled Agents.
What they’re really wondering is “Can I really be a CFO”?
It makes sense why they’re asking it. It sounds ridiculous to the outside observer that someone who's been practicing accounting or bookkeeping can suddenly call themselves a CFO.
To the outside world, a CFO is someone with years of experience, training, and wears three-piece suits.
To the outside world, a CFO is someone that works for mega companies like Coca-Cola, Microsoft or Apple.
To the outside world, a CFO is several rungs higher on the ladder than that of a CPA, accountant or bookkeeper.
Well, they’re right. Most accountants, CPAs, bookkeepers and Enrolled Agents are not qualified to be Coca-Cola’s CFO, Microsoft’s CFO or Apple’s CFO.
Why? You do need years of experience and specialized training in understanding how to move complex multi-billion dollar businesses forward.
If you think about it, a CFO has two main jobs:
Job #1: Understand the entire business from a strategic and financial standpoint.
Job #2: Guide the business towards being a growing and successful business.
Big businesses need someone to do these two jobs – which is why they have CFOs.
However, all businesses (regardless of size) need someone to do these same two jobs.
You see, for every 1 big business, there’s 10 small businesses.
For every Microsoft, there’s 10 roofing companies, dentist offices, and restaurants.
For every Coca-Cola, there’s 10 hair salons, eCommerce stores, and architecture firms.
For every Apple, there’s 10 niche manufacturing plants, day care centers, and construction companies.
In fact, 99% of all businesses are considered small.
Most of these small businesses do not have the luxury of having a big business CFO guiding them, because, well, they’re expensive.
Yet, these small businesses still need someone to do the same two jobs so they can have a thriving and profitable business and, of course, a business that stays in business.
So, small businesses don’t need a big business CFO. But they still need a CFO.
They still need someone who can:
Understand the entire business from a strategic and financial standpoint.
Guide the business towards being a growing and successful business.
This is what a CFO does – regardless of the size of the business.
So, can you really be a CFO?
Well, you can be a CFO for the - literally - thousands of small businesses that are desperate for someone to help them
.
But…in order to be qualified, you need three things:
Qualification #1: The desire to help business owners.
Qualification #2: An understanding of business financials.
Qualification #3: A system for guiding business owners on having a growing and successful business.
You see, you must have a real, burning desire to help business owners. You must care about them and their business.
You must also have a solid financial background and be able to understand the financials of a small business. Almost all financial professionals that we talk to (bookkeepers, CPAs, accountants or Enrolled Agents meet this requirement).
And, you must have a system, so you’ll know how to guide your client towards having a growing and successful business. This comes from training and experience.
And, this is exactly why The CFO Project exists.
We are a community made up of only financial professionals where we provide practical training, real support and helpful resources to start, build, and grow a CFO/advisory practice.
All so that our members can help the thousands of stressed out, overwhelmed and struggling business owners that are desperate for a CFO to guide them.
These are business owners, that without someone like you in their lives, may end up closing their doors and be left with nothing but a ton of debt and a ton of regret.
These are business owners who don’t care about qualifications as long as you can help them.
These are business owners who would welcome your help with open arms.
And if these business owners are people you'd like to help, then the answer is yes, you can become qualified to be a CFO.
Don’t I need years of experience to reach the rank of CFO?
I’m just a [bookkeeper/CPA/accountant/enrolled agent], do I have what it takes to be a CFO?
We get asked questions like this all the time from accountants, CPAs, bookkeepers and Enrolled Agents.
What they’re really wondering is “Can I really be a CFO”?
It makes sense why they’re asking it. It sounds ridiculous to the outside observer that someone who's been practicing accounting or bookkeeping can suddenly call themselves a CFO.
To the outside world, a CFO is someone with years of experience, training, and wears three-piece suits.
To the outside world, a CFO is someone that works for mega companies like Coca-Cola, Microsoft or Apple.
To the outside world, a CFO is several rungs higher on the ladder than that of a CPA, accountant or bookkeeper.
Well, they’re right. Most accountants, CPAs, bookkeepers and Enrolled Agents are not qualified to be Coca-Cola’s CFO, Microsoft’s CFO or Apple’s CFO.
Why? You do need years of experience and specialized training in understanding how to move complex multi-billion dollar businesses forward.
If you think about it, a CFO has two main jobs:
Job #1: Understand the entire business from a strategic and financial standpoint.
Job #2: Guide the business towards being a growing and successful business.
Big businesses need someone to do these two jobs – which is why they have CFOs.
However, all businesses (regardless of size) need someone to do these same two jobs.
You see, for every 1 big business, there’s 10 small businesses.
For every Microsoft, there’s 10 roofing companies, dentist offices, and restaurants.
For every Coca-Cola, there’s 10 hair salons, eCommerce stores, and architecture firms.
For every Apple, there’s 10 niche manufacturing plants, day care centers, and construction companies.
In fact, 99% of all businesses are considered small.
Most of these small businesses do not have the luxury of having a big business CFO guiding them, because, well, they’re expensive.
Yet, these small businesses still need someone to do the same two jobs so they can have a thriving and profitable business and, of course, a business that stays in business.
So, small businesses don’t need a big business CFO. But they still need a CFO.
They still need someone who can:
Understand the entire business from a strategic and financial standpoint.
Guide the business towards being a growing and successful business.
This is what a CFO does – regardless of the size of the business.
So, can you really be a CFO?
Well, you can be a CFO for the - literally - thousands of small businesses that are desperate for someone to help them
.
But…in order to be qualified, you need three things:
Qualification #1: The desire to help business owners.
Qualification #2: An understanding of business financials.
Qualification #3: A system for guiding business owners on having a growing and successful business.
You see, you must have a real, burning desire to help business owners. You must care about them and their business.
You must also have a solid financial background and be able to understand the financials of a small business. Almost all financial professionals that we talk to (bookkeepers, CPAs, accountants or Enrolled Agents meet this requirement).
And, you must have a system, so you’ll know how to guide your client towards having a growing and successful business. This comes from training and experience.
And, this is exactly why The CFO Project exists.
We are a community made up of only financial professionals where we provide practical training, real support and helpful resources to start, build, and grow a CFO/advisory practice.
All so that our members can help the thousands of stressed out, overwhelmed and struggling business owners that are desperate for a CFO to guide them.
These are business owners, that without someone like you in their lives, may end up closing their doors and be left with nothing but a ton of debt and a ton of regret.
These are business owners who don’t care about qualifications as long as you can help them.
These are business owners who would welcome your help with open arms.
And if these business owners are people you'd like to help, then the answer is yes, you can become qualified to be a CFO.
Related Advice
Live Training this Wednesday for Accountants, Bookkeepers & Tax Professionals
Escape the accountant's trap and create a business that works for you!
Escape the accountant's trap and create a business that works for you!
Discover how to grow your practice this year through CFO Advisory services.
Discover how to grow your practice this year through CFO Advisory services.
Finally escape the accountant's trap (of trading time for money) and join the hundreds of other financial professionals who have made the transition to offering high-ticket CFO Advisory services.
In this training you'll discover the proven system for getting clients and providing an effective (and efficient!) CFO Advisory service.
This training is eligible to receive CPE credit.
In this training you'll discover the proven system for getting clients and providing an effective (and efficient!) CFO Advisory service.
This training is eligible to receive CPE credit.
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