The role of the Chief Financial Officer (CFO) has transformed significantly. CFOs are no longer limited to traditional financial stewardship; instead, they have become central figures in driving strategic growth and innovation within organizations.
Historically, CFOs were primarily responsible for financial reporting and risk management. Today, they play a critical role in strategic decision-making. According to Gartner, CFOs are increasingly expected to align their organization's cost structure with unique capabilities and to act as executive champions in enterprise-wide data and analytics governance.
This shift is further illustrated by the rising number of CFOs transitioning into CEO roles. A 2023 survey by Heidrick & Struggles revealed that nearly one-third of FTSE 100 CEOs were former CFOs, an increase from 21% in 2019.
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CFO,
Chief financial Officer,
finance,
decision-making,
innovation,
small business,
Technology,
organizations,
corporate,
economic,
financial,
investments
Neglecting mental health in the workplace can have considerable financial consequences. According to the National Institutes of Health in the United States, untreated mental illness costs businesses up to $193.2 billion annually due to absenteeism, reduced productivity, and increased healthcare expenses. Likewise, according to Deloitte in the United Kingdom, poor mental health among employees costs employers approximately £51 billion each year, with presenteeism—when employees work while unwell—accounting for around £24 billion of this total.
For businesses, strong leadership is one of the defining factors in achieving success. While leadership can be cultivated through various experiences, military training can provide effective and time-tested principles that, in some cases, can beseamlessly transition into the corporate environment. According to the United States Census Bureau, Veterans own about 5.4% of the nation’s employer businesses, generating approximately $922 billion in revenue, which underscores the significant impact of military-honed leadership skills in business.
Military leaders engage in rigorous strategic planning before executing any mission. Similarly, business leaders must anticipate market trends, assess risks, and devise long-term strategies to remain competitive. According to a study by Harvard Business Review, 70% of organizations that execute strategic planning report higher revenue growth compared to those that don’t. By adopting military-style scenario planning, businesses can prepare for uncertainties and pivot effectively when challenges arise.
As Artificial intelligence advances, and one of its most concerning applications is deepfake technology. According to Cyber Defense Magazine, the number of deepfake videos online has surged at an alarming annual rate of 900%. Originally a novelty for entertainment, deepfake voices are now being weaponized for fraud. Criminals are using AI to replicate voices with stunning accuracy, allowing them to impersonate real people and deceive unsuspecting victims.
TAGS:
Deepfake,
Cyber Security,
cybercriminals,
Small Business,
Fraud,
artificial intelligence,
cyber attacks,
Scams,
AI,
Cyber Defense,
Deepfake Scams,
Exiting a business is one of the most significant milestones in an entrepreneur’s journey, yet many owners reach this point unprepared, often paying a steep emotional and financial price. Research from the Exit Planning Institute reveals that 76% of business owners who sell their companies experience profound regret within 12 months of their exit. Even more concerning, between 70 to 80% of businesses listed for sale will never sell, according to Buy Then Build. This underscores the importance of planning not only for the sale itself but also for the legacy, personal identity, and lifestyle changes that follow.
Neglecting to design an exit strategy from the very start can jeopardize both your company’s long-term value and your financial future. According to a report from Cassandra Smalley Wealth Management, 76% of business owners who sold their business last year regretted not planning their exit earlier. This statistic highlights a crucial point: exit strategy development is not a reactive exercise but a proactive strategy essential for sustainable business success.
TAGS:
Exit Strategy,
Small Business,
Business Owner,
CEO,
entrepreneurs,
economic,
exit plan,
business plan,
business exits,
succession planning,
Protecting yourself from ATM and POS terminal skimming is more crucial now than ever. Criminals have found increasingly sophisticated ways to steal personal and financial information by installing covert devices at ATMs and point-of-sale terminals. These skimming devices capture sensitive card data that can later be used to create counterfeit cards or make unauthorized purchases. According to the FBI, skimming costs financial institutions and consumers more than $1 billion each year fbi.gov, and according to Coin Law, global ATM fraud has surged by 18% in 2023, with losses estimated at $2.4 billion.
TAGS:
Finances,
financial crimes,
skimming,
Scams,
ATM,
POS Terminal,
small business,
fraudulent,
Fraud,
credit cards,
payment cards,
transactions,
According to the National Institute of Mental Health (NIMH), 72% of entrepreneurs report experiencing mental health concerns, compared to 48% of non-entrepreneurs. Additionally, research published by Detroit Regional Chamber, startup business owners report the highest stress levels (72%) compared to owners who have been in business for more than 6 years (58%). Given these challenges, entrepreneurs should take into consideration to prioritize mental health not only for personal well-being but also for long-term business success.
Being a role model means showing, not just telling. When you succeed in your own life, it builds credibility with those who look up to you. People are much more likely to trust and follow someone who has "been there, done that." According to a study by the Journal of Business and Psychology, mentees not only report higher job satisfaction but also demonstrate a 90% chance of being promoted compared to their peers without mentors. Your success story serves as proof that the journey is possible, and by demonstrating what can be achieved, you inspire others to believe in themselves.