Building the world’s best finance team for high-growth SMEs means bringing together a group of professionals who are more than just number crunchers. These team members need to be the next generation of finance superheroes.
At CCFO, we’re on a mission to build the world’s best finance team for SMEs. We asked our team of finance professionals to vote for the most important characteristics required for building a great finance team. Below are their top seven traits.
7 Key Traits of Great Finance Teams
1. Have a Growth Mindset
Having a Growth Mindset means you’re continuously evolving and enhancing. The best finance teams keep getting better by finding faster and more innovative ways to do things. By spotting patterns and cutting out waste, they save time and boost efficiency.
It’s like levelling up in a game and getting stronger and faster with each challenge. Our team voted this as the top priority, reflecting our commitment to constant improvement and staying ahead of the curve.
2. Build Genuine Connections
In business, trust is key. Your finance team should check in regularly, not just about numbers but about where the people and business are and where they want to go. It shows they care. It creates the space to move forward, take risks, own mistakes and push forward. This honesty makes the relationship stronger.
This is extremely important for us when working with SMEs who may not be so familiar with the financial side of things. Building a genuine connection makes it easier for them to trust us with their business.
3. Leverage Cutting-Edge Technology
The right tools make a big difference. Using the latest financial software and analytics tools means your team can spot trends and give better advice. The world’s best finance team has to use the world’s best technology.
On top of using the world’s best technology, we also want to develop it further so we can automate processes, reduce risk, and improve clarity for our clients.
4. Promote Team Collaboration
Great finance teams don’t work in isolation; they’re part of the bigger picture. They collaborate with everyone in the business to understand different perspectives and contribute to shared goals.
This requires proper check-in rounds and space for everyone to flag what they see and where they need a hand. Collaborating effectively combines individual performances into a winning team effort.
5. Recognise the Client’s Valuable Role
Remember, it’s a partnership. Your finance team and the business owner each have important roles to play. The team brings professional experience, but the owner knows their business inside and out. By working together, you can create magic and make the business stronger and more successful.
6. Acknowledge What You Don’t Know
Nobody knows everything, and that’s okay. A great team admits when they’re unsure and starts looking for an answer. It’s our job to use our skills and experience to work out the answer, confident that we can keep ahead of the deadline.
7. Don’t Over-Promise
It’s tempting to say yes to everything, but real pros know their limits. They make realistic promises and then deliver on them. This builds trust and respect. It’s better to be honest about what can be done than to disappoint later.
We’re Building the World’s Best Finance Team
Creating a finance team that hits all these notes means business owners can focus on their passion, knowing the financial side of things is in good hands. At Creative CFO, we build teams with the perfect mix of the above traits. Do you want to work with the world’s best finance team? Contact us here.
