Of course, not many aspirants will be fortunate enough to land a CFO position through a personal connection. But ultimately, maintaining a vision of where you want to be in the long term will help you put opportunities, and potential liabilities, in the proper context. Just remember that every rule can be bent, if not broken, and that a failure or inability to tick off a given box on a career checklist does not have to be a deal-breaker. With CFO turnover at an all-time high, there will be plenty of openings awaiting you.

Alix Stuart is a senior writer at CFO. Additional reporting was provided by Josh Hyatt and Kate Plourd.

Looking in the Mirror

There are at least two schools of thought when it comes to developing one's skills and career: identify and address your weaknesses or concentrate on improving your strengths. Whichever way you go, CFOs say regular self-assessment is essential to attaining the top finance spot.

"It's important to understand the bigger picture," says SPS Commerce CFO Kim Nelson. "I've always been pretty critical of myself and continue to look for ways I can make the company and myself better."

Not many people enjoy talking about their weaknesses, but knowing what you lack can often shine light on competencies you may need to develop, says Pam Lassiter, a principal at Lassiter Consulting. To those who want to become CFOs, she suggests finding out which skills and expertise are in demand — say, by scoping out job listings in an industry of interest. "As you consider how you want to grow professionally, it's vital to know what the marketplace is looking for," says Lassiter.

Then keep an eye out for assignments or in-house development programs that can help you fill gaps. There are also external options, such as college programs. Nelson enrolled in a specialized leadership and management MBA program because "I needed something that would keep me motivated and help me grow." That same attitude guided her career choices as well. At age 40, she became a CFO. — Kate Plourd

When Help Isn't Just Wanted, but Needed

When Karen Cambray was interviewing to become CFO at Zeemote, she met with every member of the senior management team — except the CEO. That's because the company, which makes wireless controllers for mobile games, didn't have one. The venture-capital firm backing the company decided a CFO was the more urgent need. That's a far cry from the days of the dot-com boom, when companies resisted adding a CFO to the payroll until they had reached a critical juncture, whether readying for an initial public offering or ramping up for big orders.

These days CFOs get in the game early, helping out on everything from pricing strategies to compliance. "I can make sure the financial house is in order," says Cambray, "but I'm also very operationally focused."

It's nice to be needed, but why wait for someone to notice? Ali Riaz, founder and CEO of software firm Attivio, received an E-mail last May from Alan Cooke, an equity research analyst at Merrill Lynch. "He had taken the time to understand what we do and had targeted us," says Riaz. "He told me what he thought he could do for us. He actually created our need for him." Says Cooke: "I tried to convey to Ali that the missing piece in his team was a well-rounded CFO — one with my operational and strategic skills — to help him grow the business." You know how this ends: Cooke became CFO in September. — Josh Hyatt

Five Boxes You Must Check

While it's true that there are many routes to the top, if you can't make a strong case for yourself in these five areas, the C-suite will almost certainly elude you.

☐ Operational experience
☐ Leadership ability
☐ Communication skills
☐ Compatibility with (and respect for) the CEO
☐ Integrity and trustworthiness

• « previous
• 1
• 2
• 3
• 4