Inside A CFO Mind with Gary Bender

Join me as in this episode, I talk to my client and good friend Gary Bender. Gary is a CFO for many years, probably more than he wants to admit to, but he's been around the block and back. He understands the world the CFO’s live in.

Unlike most CFO's, he's actually an owner of a company as well, so he knows the ownership side. He also runs a group called CFO Solutions, that meets on a monthly basis to talk about best practices.

We talk about what is the best way to convey a message from a marketing standpoint to a CFO and he shares exactly how we can get in front of the elusive CFO.⁣

“I'd say to any broker: Find somebody that understands the CFO world and get in front of their groups. We do have CFO groups, they're rare. CFO’s are generally introverted. They’d rather be in the office and be out with 10 or 20 peers,” he explains.

“They don't want to be in the spotlight, but they don't have egos. They have power and control, but they don't have egos,” Gary adds responding to an interjection.

If you've been out there prospecting CFO's, then this is a must-listen so you understand...

• What are the different types of CFO’s?
• What’s their actual role? How do you get these guys in a room?
• What are brokers doing wrong in those meetings?
• How can you use their facts and history when you communicate with CFO’s?

These are some of the key questions answered in this episode, so stay tuned.

Key Points of Discussion:

• In 15 years, mean tenure of a private firm CFO down to 28 months from 84 (1:10)
• CEO’s realize they need a trusted adviser as CFO (1:44)
• The different types of CFO’s; the actual role of a CFO (2:18)
• Most of the top financial execs in private firms are controllers (3:01)
• Most firms need a strong controller and a super-strong CFO (3:19)
• Communicating with a controller vs communicating with a CFO (6:01)
• Change is a positive word and the CFO's going to understand that… (13:54)
• CFO’s know healthcare benefits are probably their third largest expense on their cost stack and they can't change pricing in the marketplace; their job is to manage the cost stack (16:01)
• Why are they not involved in managing the healthcare budget? (17:19)
• Most people in controllership or finance are not ‘people’ people (24:46)
• How do we prospect the CFO’s? (26:33)
• Getting these guys in a room: Don’t make it a selling event (30:16)
• Tips for brokers: Use their facts… (31:30)
• Understanding your information and defining your goals (34:39)

Additional Resources:

• TheCFOSolution.org