Michael Goss, Managing Director of Bain Capital, provided details about how a chief financial officer can be indispensable to an organization during his presentation at the 2013 Chief Financial Officer Leadership Forum: Fall Event in New York on Nov. 13. During his presentation, “The Essential CFO: Six Rules for Becoming Indispensable,” Goss offered tips to help attendees understand the importance of becoming a top-notch contributor within a successful organization.
Goss acknowledged that an indispensable CFO must surround himself or herself with great people. It takes a team effort to be successful, Goss said, and a CFO who understands the value of teamwork can help his or her organization grow quickly. In addition, Goss stated that CFOs should consider the people they hire, and whether job candidates can become valuable contributors within an organization: “If you hire good people, it just elevates your own game to work on things that really matter and are much more interesting.”
According to Goss, an indispensable CFO must also strive to constantly improve. The business world is constantly changing, Goss added, and a CFO who devotes the necessary time and resources to become a better worker can help his or her organization for years to come: “I really believe every CFO ought to wake up that day and spend 20% of his time or her time and energy thinking about how to make these people better and what to do to make their jobs easier. If you’re able to follow that simple rule, I think you become indispensable as a CFO.”