Today, The Northern Virginia Technology Council (NVTC) holds its annual CFO Awards. The event recognizes CFOs for outstanding achievement and excellence in promoting the Greater Washington Region’s technology community. Receiving the Hall of Fame Award, in recognition of a lifetime of achievements and contributions to the technology business community, is Ron Kaiser. Read more
What is a CFO? What does a CFO do?
These are questions CEOs, COOs and business owners ask me all the time. Recently, a COO I worked with left his company and became COO at another company. He wasn’t extremely happy with the CFO at the new company. He told me, “I get a lot of data and no analysis…and there is no one to tell us we are doing a good job.” That’s when it hit me. At the simplest level, that is what CFO does…tells you if you are doing a good job! The CEOs, and owners are the chief story tellers, the ones with a vision. Their main job is to tell the story of the business; over and over, to everyone, all the time. If the business is large enough to have a COO, well, he helps run with the vision. He puts all the parts in place to make the machine go. And then, there is the CFO. The CFO helps tell the story of the business, measures progress against the vision AND THEN TELLS YOU WHEN YOU ARE DOING A GOOD JOB. Read more
Startup businesses need cash to operate. At the very least, an entrepreneur needs sufficient cash to pay bills, and buy some equipment or server space while things get up and running. For entrepreneurs, available capital, aka money, can be broken into two broad categories: Your money and other people’s money. Read more