Many small businesses in the FedGovCon space have a CFO, who is accountable for a litany of activities in the business – Accounting and Finance, Treasury Management, Banking, Risk Management, Contracts, Legal, and more. Here at ICS, I have the luxury of not only having a CFO on my leadership team, but, as I fondly call him, our CF “No”. My CFNo’s role goes beyond traditional fiscal oversight; he is the architect of a culture where every spending decision contributes to our health as a business.
My CFNo is our Fiscal Steward
Our CFNo has masterfully balanced the fine line between stifling innovation and enabling reckless spending. It’s not just about saying “No” – it’s about fostering a mindset where each expense is an investment in our company’s future. His approach ensures that each proposed spending aligns with our long-term strategic vision, driving us towards more thoughtful and impactful financial decisions. And yes, this includes investing in culture and team-building activities across the company.
My CFNo Develops Others
For instance, my CFNo enhances our organization’s knowledge, skills, and abilities by sharing robust models that weave together cost, performance, and risk factors. This modeling is not just a spreadsheet exercise; it’s a comprehensive decision-making framework that has become central to our operations. Through this, he guides divisions and programs to understand the true impact of their spending, encouraging a deeper analysis and appreciation for the trade-offs involved. His mentorship has been instrumental in allowing us to direct funds toward opportunities with the highest potential for sustainable growth, balancing employee, customer, partner, and shareholder needs.
My CFNo Creates Healthy Tension
This insistence on rigorous justification for expenditures has instilled a constructive tension within ICS. Our teams have learned to build compelling, data-driven cases for their spending and investment requests, knowing that a casual approach won’t suffice. It provides a robust analytical framework that underpins our decision-making and has become a cornerstone of our corporate culture. At all levels of the organization, our people understand the “business” side of the business.
Maybe my CFNo is a CF “Yes…but”?
Our CFNo is more than a financial gatekeeper; he is a strategic partner whose influence is felt throughout our entire organization. His approach has taught us that saying “No” is not a limitation but an opportunity to delve deeper, challenge assumptions, and ultimately make decisions that steer us towards a prosperous future. Sometimes he actually doesn’t say “No,” but rather says “Yes… but” to help us achieve our goals.
How does your organization benefit from the expertise of a CFNo? How has it shaped your financial strategies and business outcomes?
PS: Yes, he knows I call him my CFNo, so no need to report me!
