Part 1: Driving growth beyond numbers
When most people think about the role of a Chief Financial Officer (CFO), traditional images of number crunching, financial reporting, and compliance often come to mind. Those basics remain crucial, but in a scale-up the CFO’s role goes far beyond those typical tasks. The CFO must be a strategic partner who actively shapes growth plans and guides disciplined execution.
In a fast-growing business, things change quickly, and complexity doesn’t just grow, it multiplies. Rapid expansion creates intense demands on cash flow, resource management, and operational infrastructure. CFOs who see their job as more than spreadsheets become key players in strategic decisions. Instead of just monitoring growth, he or she helps steer and facilitate it.
Scale-up CFOs operate in a unique spot compared to their corporate peers. They face shifting scenarios that demand quick pivots, accurate forecasting, and strategic agility. CFOs in this environment must balance the ambitious vision of energetic founders with the financial discipline needed for sustainable growth. The most effective CFOs manage this tension, aligning aggressive plans with financial realities to ensure the company remains bold, yet stable.
Setting clear goals is essential for CFOs in these roles. Vague or poorly defined objectives quickly make finance a bottleneck instead of a support. Clear, strategic goals act as a lens for making decisions. With clarity, CFOs can confidently allocate resources and say no to projects that distract, waste resources, or risk long-term success.
Simply put: “Focus isn’t about doing more, it’s about saying no more often.”
The modern scale-up CFO takes on a strategic role, influencing key decisions about market entry, investments, technology, and hiring, all vital for growth. Scale-up CFOs anticipate problems early, whether operational or financial, and handle them before they become serious threats.
Additionally, effective scale-up CFOs promote financial understanding across the entire organization. And help other teams see the financial impacts of their decisions, creating a culture where everyone is financially aware and accountable. Teams become active partners in achieving strategic outcomes, not just recipients of budgets.
Making the shift from traditional finance management to strategic leadership doesn’t happen instantly. CFOs must deliberately step outside their comfort zone, keep learning, and proactively engage in wider business discussions. This leads to finance teams that don’t just document the company’s journey but actively shape it.
Ultimately, CFOs who move beyond numbers become essential drivers of growth. The idea is to position finance as a key strategic force, directly influencing how effectively and rapidly a business scales.
Rethink your role today: Define clear, strategic goals for you and your finance team.
- This blog, part of the “From numbers to Impact” series is adapted from the book “The Scale-Up CFO” by Richard Veffer, a seasoned Greyt CFO & partner.
With over 12 years of experience guiding scale-ups and working alongside CFOs, founders and investors, Richard has outlined the key capabilities modern CFOs need to lead in high-growth environments. These 12 chapters provide the structure of this blog series, diving into the most critical areas of modern finance leadership.
