How to choose the right FD to grow your business
If you have decided to recruit a new Finance Director in order to grow your business, you’re probably wondering what kind of person would do the best job for you.
To help you with this, we’ve put together some qualities to look out for when choosing a new FD...
Don’t assume that if your potential FD has lots of experience with big companies they have the qualities you need.
It’s important to find someone with a genuine passion for growth. Look out for how animated they are during the interview when they are talking about this topic.
It’s pointless paying for advice from an experienced FD if they aren’t motivated.
You need to look for someone with bags of energy to ensure they are able to grow your business.
Obviously, for such an important position, you need your new FD to hit the ground running straight away.
They must have the experience you need to support your financial and back office needs. Ask probing questions in order to get specific examples of when they have supported entrepreneurs or business leaders, in your sector if possible.
4. Good decision maker
You aren’t hiring someone just to process transactions. You need an FD so you can execute your vision and be your voice of reason.
Although the final decision falls with you, it’s their job to give you a reality check on proposals and projects based on analysis of the numbers.
Your FD should be confident in overseeing your HR, IT, and Facilities, as well as the overall financials. Picking up these back-office functions will let you focus on sales, marketing and business development.
You'll obviously need to pay if this takes up more time, but it will save you valuable time to make more money for your business, it's it will be worth it overall.
6. Easy to get along with
You’ll be spending a lot of time with your FD, so make sure you like them as people. If you don’t like them, they will be difficult to work with.
Want to find out more about hiring the perfect FD? Take a look at our FREE resources.
Date Posted: October 3rd 2018
Posted By: Phil Scott