Former U.S. President Harry S. Truman once said, "Not all readers are leaders, but all leaders are readers". While that quote was attributed to him more than half a century ago, it remains as accurate today as the day he said it.
Great business leaders know that reading gives them the knowledge they need to stay one step ahead in today's fast-changing business landscape. So, if you are an aspiring or experienced CFO, here are 7 of the best books on finance you need to read.
1. Reinventing the CFO - Jeremy Hope
The role of tomorrow's CFOs will be focused as much on helping managers achieve their goals and improve their performance as it does crunching numbers and preparing reports. This book, written by Jeremy Hope, is based on intensive research and outlines seven critical roles CFOs will need to excel at in the future.
2. Guide to CFO Success - Samuel Dergel
All current and aspiring CFOs need to read this book by Samuel Dergel. It is generally accepted that CFOs have the technical skills to do their job. It is the interpersonal and leadership skills they are lacking. In this book, Dergel shares several strategies CFOs can use to develop their leadership skills to manage relationships at all levels in the company.
3. Good to Great - James C. Collins
Why do some companies become great while others stay ordinary? In this book, James C. Collins examines 28 of the most significant companies to identify what they did differently. There are some excellent examples in this book that can be applied to almost any industry.
4. The Perfect Corporate Board - Adam J. Epstein
This book is a must-read for any CFO in a small-cap company. Written by the corporate director and former hedge fund manager, Adam J. Epstein, the book examines what the perfect small-cap company board looks like. The challenges faced by small-cap CFOs, particularly those in a pre-IPO stage, are very different from larger companies.
5. The Situational Leader - Dr Paul Hersey
This popular book, written by the behavioural scientist Dr Paul Hersey, focuses on developing strategies to manage people in an organisation better. The book is short and easy to follow and provides the reader with a ready-made leadership model applicable to any situation.
6. The Advantage - Patrick Lencioni
A company can only succeed if its organisation, operation, and culture are unified. This book by Patrick Lencioni provides a model for conducting business to maximize human potential while aligning the organisation around a common set of goals and principles.
7. The End of Accounting and The Path Forward for Investors and Managers - Baruch Lev and Feng Gu
Traditional financial reports have become bloated and are losing relevance in today's capital markets. This book puts forward an innovative valuation framework that better serves the interests of both investors and managers. It is a must-read for any small/mid-cap company directors looking to attract new investors.
At Becksford Group we’ve noticed that today more than ever before, executives need to be focused on delivering growth and fostering an environment where employees and managers can excel. If you don't deliver, you can be sure that someone else will.
The books we’ve mentioned above can help our CFO network stay ahead of the curve when developing successful management strategies, raising capital from new investors, and building relationships with employees. So, if you haven't already, make sure you add them to your reading list this summer.