What If You Don’t Look the Part?


ImagesAh, December!  The month of office parties and corporate gatherings.  Small or large, every company feels obligated to do something: sandwiches from a nearby deli with soda in plastic cups, or formal cocktails and fancy dinners – whatever fits the budget (frequently, way over budget).

On Monday I had to take part in my client's festivities.  The company is small, but has a lot of external relations (bankers, financiers, big-time suppliers, shippers, brokers, lawyers, consultants).  So, the gathering turned out to be pretty significant.  As their acting CFO I am viewed as an insider and, therefore, was placed at the head of the "finance and legal" table.  Funny!  Other tables – operations, logistics, etc. were vividly mixed-gendered.  At my table – I was the only woman.

"But no matter, no matter!"  As all of us – females of corporate finance, I've been working in the predominantly testosterone environment my entire career.  I know how men operate and expect them eventually, after obligatory discussions of each other's success, politics, economy, and the stock market, to fall into a football patter.  And even though I myself find basketball and tennis far more exciting (and, as my readers know, prefer arts altogether), I am ready.  It's not really that difficult – here, in NYC, they are predominantly Giants' fans.  All it takes is to remember few key names and events, and they feel like you are "one of the boys." 

So, here we are, in the third hour of the event, with enough liquor in all of them to knock a team of stevedores to the ground (ever since the martini lunches have become their industry's long-gone past, the thirsty bankers make up for them in the evenings), when the Giants sneak their way into the conversation.  Only this time around, there is a twist – a politely contained and quiet tiff erupts over Eli Manning. 

You see, there is this guy, second from me on the left, in his early sixties, who looks like the Nazi who got the scepter's head burnt into his palm in "Raiders of the Lost Ark."  Only 30 minutes ago he said that the best presidential candidate right now was Michele Bachmann, which made me bit my tongue so hard to prevent a spontaneous response, I bled a little in my mouth.  Now he is arguing with other neighboring boys, telling them how much he hates Eli, and the way he sits on the side, and his smile, and his hat, etc., etc.  The fact that he is one of the only three Giants' players ever to be named a Super Bowl MVP apparently means nothing.

Let me tell you, I don't really give a rat's ass about either of the Manning brothers.  It's the underlying principle that's important to me.  So, I look the man in the eyes through his round glasses and say, "Many conservative men don't like Eli Manning, because he looks like a goofy high-schooler."  "Yes, and that stupid grin of his," says the man.  And I say, "But that look, and that grin, and that hat – they have nothing to do with his performance on the field."  The conversation ended right then and there.

More than a year ago, I finished my post "He Looks Like an Accountant…" by saying that young crowd at rock concerts don't believe that I am a career CFO.  The truth is that, unless I am introduced as one, nobody ever guesses it.  Moreover, there is always an element of surprise in people's reaction, when they learn about my profession.  It doesn't matter that I am very good at it and have a book on the subject coming out, I don't come off as "corporate finance," at least not by American standards.  I am not tall, not skinny; I don't have the fake gloss all over me.  And that crazy hair I could never tame!  I am acutely aware of this discrepancy with people's expectations.  That's why "CFO Techniques" doesn't have my picture on the back cover – I don't want to confuse people.

Ten Reasons Why “CFO Techniques” Is a Must-Read for Entrepreneurs


GI_98327_CFO TechniquesReason #1.

You are a part of a proud cohort of just a few millions of people who summoned their courage and said, "I will not work for the Man anymore! I will be my own boss!"

While your company is growing, it will need to keep its overhead lean. Meanwhile, you can use "CFO Techniques" as a surrogate for a seasoned executive that will provide you with clear guidelines for financial and administrative management.

Reason #2.

Don't let the title fool you. "CFO Techniques" is not a bean-counting manual. It's written with a view to achieving commercial success and places business considerations ahead of everything else.

ImagesReason #3.

It will arm you with a flexible framework for structuring your business in a logical and sensible way.

Figure 5-1
Reason #4.

"CFO Techniques" is not an academic textbook either. It manages to shed new light on various aspects of finance and business in a fun and easy language. The book is organized into a bite-sized chapters sprinkled with familiar cultural references and illustrations from the author's professional life.

10 reasons ent collage

Reason #5.

Yet, it's packed with practical advice,

Adviceinstructive suggestions, step-by-step guidelines,

Step-by=stepchecklists,

Checklist
and visual examples.

Figure 22-2

Reason #6.

"CFO Techniques" will provide you with a comprehensive breakdown on acquisition of capital resources necessary to sustain and grow your business.

Reason #7.

An entire section of the book is devoted to assessment, reduction, and transfer of the internal and external risks your company may encounter in a normal course of business and in extraordinary circumstances.

Reason #8.

"CFO Techniques" will show you that one of the most critical determinants of whether your company will fail or prosper is the active attention to its performance. The book rejects the rigidity of the uniform approach to business intelligence and underscores the importance of selecting specific indicators that will have the most significant impact on your decision-making process.

KPIs

Reason #9.

Anticipating your furture needs, the book describes the fundamental steps of strategic planning and basic techniques for explorting opportunities as well as diminishing external threats.

Strategy

Reason #10.

And when you are looking to hire a CFO, a valuable member of your executive team, the book may serve you as a benchmark in evaluating the candidates' breadth of expertise and depth of knowledge.

Response to a Reader’s Question: Take a Position Abroad or Stay Home?


One of my readers, a fellow female CFO, have sent me an email asking for an advice on the following dilemma she is trying to resolve for herself:

"Hi Frustrated CFO

Please advice.

I'm at a crossroad between choosing to work as a group cfo in overseas subsidiary in US or stay in home country (malaysia) and becomes a group cfo of a division.

Both has its merits and demerits but i'm a woman and study shows that most women do not end at top spot without sacrifice. My family and I would have to sacrifice more if i choose to go overseas. My husband need to put his business on hold and becomes a house husband for a while until we settle down. Its good for the kids as they will go to international school and gain mastery in english language.

Staying in home country is not bad either. I will be in a familiar condition, i will gain new exposure, nothing need to change and i can send my kids to good schools at a higher fee.

Most people will say that experience abroad will change how people perceive you as a leader and thus this will give you greater opportunities within or outside the group.

What do you reckon?

Thank you.

Rgds
Anonymous"

Honestly, it is apparent to me that deep in her heart Anonymous knows very well that, professionally speaking, the best thing to do is to take the job overseas. I always said that a career CFO or a Controller needs to view every job as a line on her resume. Nothing more and nothing less. And what can make a better resume entry than a position showing that your knowledge and expertise are viewed to be unmatchable by a local talent pool in a foreign location? This is a great stepping stone in anyone's career development.

Men don't even think twice about opportunities like that, family or not. But women are naturally more considerate creatures. Many of us try to achieve an impossible balance between professional careers and personal lives. This requires a lot of trade-offs – you cannot possibly have everything. You want spend more time with your kids than you can. You don't want to be too tired for your husband. But, at the same time, your career is a source of income and, more importantly, social independence. The last thing a strong woman wants is to give that up.

I am also a strong believer in exposing children to foreign cultures. It broadens their horizons and sets them apart. Most professional parents do it through traveling and student-exchange programs, but here is a fortunate opportunity of a complete immersion. It would be a shame to pass on that.

So, the only real difficulty is the husband. Is it fair to ask someone to put their business endeavors on hold for the sake of perpetuating your own career? It's really a very private issue that depends on individual personalities, and it can be blown into a very complex problem. However, in my opinion, at the end of the day, it comes down to two major considerations:

1. What will guarantee better financial future for your family as a whole? We are financial professionals – we know how to count. Estimate the future values of each possibility.

2. What will secure the psychological stability of your family? If you are excited about the overseas opportunity, but decide to stay home for the sake of your husband, will you subconsciously hold it against him? Will you let the resentment corrode your marriage?

If you can honestly answer these questions, it will ease your decision-making process. I promise.

I invite other readers to express their opinions on this subject in their comments.

Quote of the Week: Eclecticism


5From a text-message exchange (Friday, February 24):

"YZ – Andrew Bird secret show tomorrow night at a small venue in Brooklyn… Got two tickets. R u down?

The Frustrated CFO – Always. I will crawl to secret shows if I cannot walk."

Quote of the Week: “Horrible Bosses”


I still think that this is a silly, phantasmagorical flick.  But that doesn’t prevent me from objectively acknowledging the mastery of Colin Farrell’s acting. He delivers there his most farcical performance to date in his pitch-perfect American accent.  His Bobby Pellitt is a caricature of those real people I frequently describe here—those who think that GAAP and GAP are the same things. 

Huffington Post nominated the following exchange as one of the funniest movie quotes of the year. It’s both funny and quite probable—believe me.

(Written by Michael Markowitz and John Francis Daley.)

Bobby:  We need to trim some of the fat.

Kurt:  What do you mean by trim the fat?

Bobby:  I want you to fire the fat people. They’re lazy and they’re slow and they make me sad to look at.

You can watch the whole clip here: Horrible Bosses