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7 reasons why networking can be invaluable to finance directors and CFOs

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7 reasons why networking can be invaluable to finance directors and CFOs

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Networking is one of the most effective ways to develop your professional career as a finance director or chief financial officer.

Those that are at, or near, the top of the their respective organisations can find it difficult to connect with professionals in similar positions in order to gain valuable career advice.

Through networking, finance directors (FDs) and chief financial officers (CFOs) can gain valuable knowledge and insights about specific finance-related topics that only those in their profession would understand. Attending networking events can provide access to experts in a wide variety of industries, so you are bound to find insight from those in a similar position to you or an outsider perspective a peer from those outside industry outside with a different knowledge base.

But there are lots of other reasons to network and being proactive about it will, undoubtedly, make you become a better finance professional and director. Here are the top reasons FDs and CFOs should network more with their peers…

1. Gain new knowledge and insight

There’s no better place to learn, in a non-judgemental environment, than from your peers.

Whether this is through a full networking event full of your peers, social media groups or through contacts, chatting to people in similar positions will help you to find out their plights and whether it relates to you.

Some networking events include discussion groups where you can discuss specific set topics as well as keynote speakers to learn about related subjects you might not otherwise be aware of, which can be invaluable in becoming a great FD or CFO.

2. Get fresh perspectives

Networking can become a source of fresh new ideas and creative approaches, which you can utilise in your current job role as well as for alternative career paths.

By posing questions to FDs and CFOs in your network, you can find out how to improve your skills, discover ways of thinking about different scenarios and shape a better career path for yourself.

3. Get to know other professionals in your field

You can learn a lot from your peers and getting to know them better is likely to reap future benefits.

Through networking, you could end up exchanging contact information and get in touch later regarding sharing information, work collaboration, future employment prospects or anything else so don’t forget to hand out business cards and make an effort stay in touch with key contacts.

4. Attract new business

If you require help from your peers in attracting new business, you can use the opportunity to make informal business pitches and gather potentially beneficial new leads for your business/company.

In particular, if you work for or run a small or medium-sized business, then you may indirectly find potential new clients.

5. Enhance your interpersonal skills and confidence

The more you communicate, the better director you will become, gaining more confidence each time. Communicating your views is key as a director and when you are confident, you will be able to communicate all your views and ideas with clarity.

6. Access future job opportunities

Professional networking can help recruiters and recruitment agencies in finding the right candidates for many important vacancies for their clients.

Fostering good relationships with them could mean they will contact you in the future when attemptinf to fill future roles.

7. Personal development and career enhancement

If you want to grow and develop in your field, then it is very important that you know how to network well. Not only will you learn many new things by interacting with different professionals, but this can also help you in finding good employment opportunities.

Good communication, as well as excellent skills in your field, will often be reflected in the kind of professional network that you are able to build. Furthermore, the people in your network can also push you to work harder on the job and become better or even inspire you to follow your dreams and do what you always wanted to do.

Having a rich network of finance professionals to be able to call on can be very beneficial irrespective of what career stage you are in. Not only will you be able to benefit greatly in your own career by applying valuable tips and advice from others, but you can also help others to develop their careers by providing important guidance.

If you are interested in our finance dirrector and CFO networking events, held across the country, don’t forget to register with us to receive updates.

Date Posted: August 14th 2019

Posted By: Phil Scott