The Mid-Market CFO

The mid-market CFO is a different breed.

The role of the CFO is as diverse as the various companies that employ them. The role of finance chief is by no means “one-size-fits-all”.  Large companies have the staff to allow for daily activities to be covered and the CFO can be very hands-off on details and solely focused on the big picture.  Small companies don’t have the staff and are usually at a level of complication that does not necessitate the CFO being involved in anything but accounting. The mid-market CFO, however, is a different breed altogether. There is staff support but still a lot of hands-on involvement in the details. The business has reached a complication level that the expertise of the CFO is needed at the strategic level. The mid-market CFO has to learn the art of balancing the details with the big picture. Many can’t do this and are ineffective in the role.  Those that learn this balancing act, will be very effective and highly sought.

What is needed in a CFO of a mid-market company is dictated, to a large degree, on the skills and personality of the CEO.  Because of the size and agility of the company, it is very important that the CFO compliment the CEO.  They shouldn’t be just alike or have the same skill set. Companies run on skills so the more variety in skills in the company the better it can be managed. The job of the CFO is to balance the CEO.  As Rocky Balboa would say, the CFO should “fill the gaps” of the CEO.  A good CFO makes the CEO better.