| The foundation of the permanent part-time CFO | | | | decisions of others will have very little impact on my |
| industry is delivering high impact results to start-up, | | | | income and values. |
| emerging, and medium-sized companies with sales up | | | | OBJECTIVITY |
| to $50 million. Most of these companies cannot afford | | | | Income from many clients, not just one employer, |
| a full-time CFO, but they could benefit significantly from | | | | increases my objectivity. My personal agenda and |
| the perspective of and value-added from a senior | | | | priorities take a back seat to the best interest of my |
| level executive like a CFO. Here are a few of the | | | | clients and I work to serve their interests above my |
| benefits I have discovered since joining this industry: | | | | own. I am more willing to have a "tough" conversation |
| GREATER STABILITY THAN FULL-TIME CFO AND | | | | with the CEO or owner of one of my clients because |
| EXECUTIVE ROLES | | | | it is the right thing to do, regardless of how it might |
| The statistics on C-level job turnover and time | | | | impact me personally. |
| between jobs are staggering. With slightly varying | | | | I have found that my clients appreciate this about my |
| results, most would agree that the average tenure of | | | | ability to approach them in this manner, and they often |
| a CFO is less than 3-4 years with an average of 6 | | | | look to use and implement more of my advice than |
| months between CFO roles. One thing is certain - | | | | some prior full-time employers. One of our CFOs was |
| gone are the days of loyal and diligent service to one | | | | recently in a board meeting with a new client when the |
| employer for an entire career. | | | | chairman of the board looked past all of the other |
| With so much uncertainty in the job market, the stability | | | | executives and managers and asked our partner: |
| and security that traditionally came from one paycheck | | | | "You work for many companies in many industries and |
| have become uncommon. Even if you are the best | | | | have an objective opinion of things. What do you think |
| CFO, turnover and time between jobs will come from | | | | we need to be doing to improve this company?" |
| mergers, acquisitions, and a host of other unpredictable | | | | FLEXIBILITY |
| and unforeseen reasons. | | | | No matter their personal and professional priorities, |
| Stability and security have found a new structure, one | | | | those committed to this industry enjoy more time |
| that our industry personifies. You see, with | | | | flexibility than most other one-employer jobs afford. I |
| "paychecks" coming from five to twelve different and | | | | control my schedule and can easily include as much or |
| un-related companies (that's about how many clients I | | | | as little vacation, personal, civic, religious, and other time |
| serve concurrently), my concerns about the financial | | | | as I want to complement my professional |
| impact of job turnover and time between jobs has | | | | responsibilities. |
| quickly dwindled. I now enjoy greater stability and job | | | | RESPECTABLE CAREER IN A GROWING |
| security than I did when I held full-time executive | | | | INDUSTRY |
| positions earlier in my career. | | | | The part-time CFO industry has grown and developed |
| HIGH AND SUSTAINABLE EARNINGS | | | | tremendously in the last twenty years. This is no longer |
| Depending on my own efforts and commitment, this | | | | an industry defined by CFOs who try to get a few |
| industry can afford me a level of earnings equal to or | | | | clients until they find a full-time job. There are many |
| potentially in excess of one full-time executive job. I | | | | professionals in North America that have dedicated |
| have been able to build trust-based and long-term | | | | their entire CFO careers to this industry and who have |
| working relationships with my clients, many of whom | | | | established or are in the process of establishing a |
| have been with me for almost as long as I have been | | | | long-term clientele. |
| in this industry. Hence, my earnings potential is | | | | Bankers, attorneys, CPAs, investors, and other |
| sustainable. | | | | professionals respect this industry and the value-added |
| PROFESSIONAL FULFILLMENT AND | | | | to businesses. In fact, they are often a major source |
| SATISFACTION | | | | of our referrals. Knowing that the future of the |
| The entrepreneurs, CEOs, business owners, and | | | | economy is primarily based on innovation and |
| founders of most businesses often do not know what | | | | entrepreneurs who commercialize that innovation into |
| they are missing until they hire a part-time CFO. Once | | | | thriving organizations, I know that our impact is |
| they do and their CFO does a respectable job for | | | | significant and that we have the respect of all who |
| them, they often value their background more than a | | | | understand what we do. |
| full-time employer. There is nothing like knowing that I | | | | POTENTIAL RISKS |
| have been able to make a significantly positive impact | | | | This industry is not without potential risks, which include |
| for my clients, and then having those clients thank me | | | | professional liability and lost time and resources learning |
| for my knowledge, wisdom, expertise, and skill. Adding | | | | how to best market, sell, and service clients. An |
| value far beyond my cost in a market that has so | | | | additional risk is the tendency most in this industry have |
| many un-served needs provides me with a | | | | to base their entire income only on their own billable |
| tremendous amount of fulfillment and satisfaction. | | | | time without opportunities to leverage their efforts into |
| COMMAND OF FUTURE | | | | additional income. |
| The decisions and practices of others can negatively | | | | Joining the part-time CFO industry has been a |
| impact anyone at any time, often without warning. In | | | | rewarding career choice for me in accomplishing my |
| addition, many may be tempted to do things with which | | | | goals and objectives. I encourage anyone who is |
| they disagree or that are contrary to their values | | | | interested in this industry to learn more and consider |
| when they feel financial pressure. The diversification of | | | | these benefits and risks along with the additional |
| my sources of income have empowered me know I | | | | benefits that part-time CFO firms offer. |
| control my future more than anyone else, and the | | | | |