Many of you reading this are likely Financial Controllers, and you’re probably already eyeing that Chief Financial Officer role as the next step in your career. You know it’s possible to make the leap, but the question is: how do I actually get there?
Well, let me tell you—becoming a CFO isn’t some magic trick. It’s not about waiting for the “CFO fairy” to come sprinkle some gold dust on you and suddenly poof—you’re the boss. If you’re stuck in the rut of cost-cutting, focusing on the same old numbers that, while important, don’t drive the bigger picture or strategic decisions, or sitting quietly in meetings, then you’re not making the progress needed to actually make the necessary leap.
Here’s the reality—Chief Financial Officers don’t just manage the books. They steer the entire financial ship of a company. If you’re still thinking of yourself as a Financial Controller who just checks the numbers, you’re miles away from the big leagues. Let’s look at a few key steps which could change your trajectory and get to that executive leadership role:
Step 1: Shift Your Focus—Revenue, Not Costs
Look, you can be really good at cutting costs, and we appreciate people like you. You can look at a P&L and chop expenses like a butcher at a meat counter. But here’s the thing, if you’re aiming for an executive leadership role, the reality is that you’re going to have to start thinking differently. Chief Financial Officers don’t just worry about cutting costs; they need to look for opportunities to grow the business and steer the company toward greater profitability. It’s not just about making sure every penny is accounted for; it’s about driving revenue.
Step 2: Develop a Strategic Mindset
In an executive leadership role, strategic thinking is paramount. While being detail-oriented is important, it’s not going to take you from Financial Controller to CFO. As a Chief Financial Officer, you’re expected to see the bigger picture, analyse data in context, and guide your team toward long-term success. Shifting your mindset from focusing on day-to-day operational issues to broader strategic decisions is the key to moving into a leadership role.
It’s time to step away from the day-to-day firefighting and start thinking strategically. As a Financial Controller, your main focus is usually about getting the numbers right—ensuring reports are accurate, making sure things balance. But as a CFO, your job becomes about interpreting those numbers and making big decisions based on that interpretation.
In my experience, what will get you to the CFO role is not just knowing the numbers; it’s being able to translate those numbers into a clear, actionable plan for the company’s financial growth. I’ve spent years in the trenches, building businesses, managing finance teams, and seeing firsthand how financial decisions shape the future of a company. A Chief Financial Officer needs to be a strategic decision-maker, someone who can forecast, interpret data, and push the business forward.
Step 3: Start Speaking Up in Meetings
Here’s the truth about a lot of “FC folk”—they’re quiet in meetings. They’re the ones who take the notes, agree with what the other execs are saying, keep their heads down and consume the most caffeine.
But here’s the thing, if you’re not speaking up, you’re already behind.
Start showing up with confidence. Start contributing your thoughts on business strategy. Present data in a way that tells a story and influences decision-making. Don’t just sit there and nod in agreement; speak your mind; challenge your peers. Your leadership potential is measured by your ability to influence others. If you’re not doing that already, it’s time to start.
Now, I’m not saying you should be the loudest person in the room. But you do need to be heard. Whether it’s offering a suggestion or asking tough questions, your ability to engage in executive-level discussions is what will set you apart from the pack. People want to see a leader, not a number-cruncher.
Step 4: Build Strong Relationships with Internal and External Stakeholders
To truly succeed in an executive leadership role, you need to connect with people outside of your immediate team. As CFO, you’ll be expected to form relationships with key internal stakeholders, but also to be someone who can communicate with external parties such as investors, auditors, bankers and industry leaders. You need to be the bridge between different departments and ensure everyone is aligned toward a common business goal. Build a strong network because a great CFO doesn’t work in a vacuum. They understand the market, the competition, and the external factors that could impact the company’s financial strategy.
Step 5: Demonstrate Leadership Beyond Numbers
One of the biggest mistakes that Financial Controllers make is thinking that to get to leadership, it’s all about the technical side of finance, and if you know numbers, then you don’t need to know people. But that could not be further from the truth. The Chief Financial Officer role is about much more than just balancing the books. It’s about leading your finance team, building trust, guiding them through complex decisions, and being the voice of reason in high-pressure situations.
To be considered for any executive leadership role you need to demonstrate leadership qualities that go beyond just your expertise. Here are a few key take outs from my book “Let’s Get Real” which I always come back to:
- Self-awareness as a Foundational Skill
One of the big themes I talk about is the importance of self-awareness. Understanding your strengths, weaknesses, and core values is absolutely critical for any leader. As you become more self-aware, you’ll find that you’re better equipped to handle challenges, manage your team more effectively, and make smarter, more informed decisions.
So as you move away from focusing on the technical side of finance, self-awareness becomes the bridge between your expertise and your leadership potential. It helps you shift your mindset—from simply crunching numbers to strategically leading your team toward success.
- Be Decisive
As a Financial Controller, you’ve probably been indecisive at times, held back by risk or uncertainty. But in a senior leadership position that won’t fly, you need to be decisive, quick-thinking, and unafraid to take calculated risks that will move the business forward.
- Align with Company Values
When you can show that you not only understand the company’s financial goals but also the culture and vision, you’ll begin to inspire others. Being a CFO isn’t just about managing finances—it’s about aligning the company’s financial strategy with its core values.
- Managing Yourself
This is something you’ve heard me say countless times… One of the things I’ve learned over the years is that too many people are sleepwalking through their careers, letting things happen to them rather than taking charge of their own journey. I realised that if I wanted to reach the next level, I had to start managing my career with intention, setting clear goals, and taking ownership of my growth. It’s about asking the right questions: How can I contribute to the bigger picture? Where can I step up and add value? The answers to those questions should push you out of your comfort zone, shape your approach and make you stand out in the crowd.
- Learn to Deal with Difficult People
You can be the smartest person in the room, but if you can’t deal with people, you won’t make it far, especially in senior executive roles. I learned early on that being a great leader means not just understanding people but having the ability to manage them, even when they’re tough to deal with. You’ve got to be strategic, and you’ve got to be calm. Don’t let egos or emotions derail you; instead, focus on how to solve problems and work through the conflict in a way that’s constructive for the business and the team.
- Embracing Change & Overcoming Limiting Beliefs
One of the toughest things I’ve ever done was let go of the old, limiting beliefs I had about myself and my career. I used to think I had to stick with what I knew, and that stepping outside of those boundaries was a risk I wasn’t willing to take. But to move forward, I had to recognize that my mindset was holding me back. It wasn’t just about acquiring more knowledge; it was about changing how I saw myself, my role, and my future.As you look to move from FC to CFO, you need to say goodbye to limiting beliefs, whether it’s about what you think you’re capable of, or about the role itself. You’ll need to embrace change, be open to learning new things, and have the mental flexibility to adapt. That’s how you transform your career—and your life.
- The Importance of Mentorship & Coaching
Looking back, I can tell you that coaching was one of the most valuable things that helped me reach where I am today. I’ve had coaches who challenged me, pushed me, and called me out when I needed it. Those experiences taught me more than any textbook ever could. A good coach can see things from a perspective you might miss. They help you understand your strengths, identify your blind spots, and make sure you’re moving in the right direction.For anyone embracing the journey transitioning to a senior leadership role, getting the right mentorship is crucial. Surround yourself with people who have been where you want to go, and learn from their experience. Whether it’s a coach, a mentor, or an experienced colleague, their insights will be invaluable as you step up to the challenge.
Conclusion: The Path to Chief Financial Officer
So, how do you make the leap? It’s all about changing your mindset. Start thinking like you already have the responsibility: Focus on revenue, not just cost. Think strategically. Speak up. Build strong relationships with stakeholders. Demonstrate leadership. Be decisive. Align with company values.
And always remember—be the leader you want to be, not the person you’ve always been. The CFO role is yours for the taking, but you’ve got to prove you can handle the responsibilities and challenges that come with it. As you work towards this position, keep pushing your boundaries. It won’t happen overnight, but with the right mindset and approach, you’ll get there.
So, if you want to take that leap, I’m here to help. Let’s talk and Let’s Get Real.
