5 must-read books for CFOs in 2023
By Rachit Yadav | July 31st, 2023
Being a CFO is both challenging and rewarding, as these top executives bear the responsibility of ensuring their companies’ success. Navigating through tough decisions and fostering strong teams are essential aspects of their role.
For CFOs seeking to enhance their skills and knowledge, reading books is an invaluable approach. Countless books offer valuable insights into effective leadership and management.
Picking the right books is important as it will save you time and energy. This saved time can be widely utilized in implementing the knowledge gained.
1. Intelligent Investor by Benjamin Graham
Benjamin Graham (Who Was Benjamin Graham? The Father of Value Investing) is a renowned investor and professor of finance. Graham’s investing philosophy is that stock prices do not move with the value of the company. This can create opportunities for investors to buy stocks at a discount and sell them at a profit later.
The Intelligent Investor is a classic book on long term investing. It teaches the principles of buying stocks and investing for the long term. The book is a must-read for anyone who wants to learn how to invest.
Some of the key lessons from the book include trying not to time the market, and being patient. The book has two parts: One on long-term investing and the other on value investing. Warren Buffett says that The Intelligent Investor is “the best book ever written on investing”.
The book has been in print for over 70 years, and it continues to be a valuable resource for investors today. If you are serious about investing in company resources, this book is recommended. Find the Intelligent Investor here (Intelligent Investor: The Definitive Book On Value Investing – A Book Of Practical Counsel by Graham, Benjamin – Amazon.ae)
2. Guide to CFO Success
The CFO’s Guide to Strategy is a guide to the role of the CFO in strategy development and execution. The book covers the topics, including the role of the CFO in strategy. The financial way of building strategy and how to translate strategy into action, as well as measuring the success of strategy.
The book has a tone of clear and concise style, and practical advice. It is a valuable resource for CFOs who want to be more involved in the strategic process . One of the key takeaways from the book is that the CFO is not a “numbers guy”. The CFO is also a partner who can help the CFO and other senior executives make better decisions. The CFO ensures that the organization’s finance goes with its strategic goals.
Another key takeaway from the book is that the CFO needs to be able to translate strategy into action. This means being able to communicate the strategy to the rest of the organization. They also help to develop plans and processes to the strategy. The CFO also needs to be able to measure the success of the strategy, and make adjustments as needed.
Find the Guide to CFO success here – https://www.oreilly.com/library/view/guide-to-cfo/9781118674994/
3. The Little Book of Common Sense Investing
Authored by John C. Bogle (Who Was John Bogle? Vanguard Founder, Father of Indexing), the founder of Vanguard Group. It is a book about index investing and talks about passive investment strategy and involves investing in a basket of stocks that tracks a particular market index, such as the S&P 500. It is one of the most popular books on investing ever written.
The book says that index investing is the best way for most investors to achieve their goals. Bogle says that active investing is where you have to pick stock. It is not for everyone. He says that the vast majority of professional investors fail to beat the market. The fees charged by active managed funds eat into returns. Bogle’s advice is simple: invest in a low-cost index fund and hold it for the long term. He says this strategy helps investors to achieve their financial goals with less risk.
Find The Little Book of Common Sense Investing here (The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Little Books, Big Profits): Bogle, John C. )
4. The 80/20 CFO
Want to make a big impact on your company’s strategic transformation? Then read The 80/20 CFO! This book will show you how to focus on the 20% of activities that will deliver 80% of the results. You’ll learn how to think, manage risk, communicate and drive change.
The 80/20 CFO is a book that says that CFOs can make a significant impact on their company. Focusing on the 20% of activities that will deliver 80% of the results. The book provides tools and techniques that CFOs can use to drive transformation. Tools such as prioritization, risk management, communication, and change managenent.
The book is full of practical advice and examples. The authors provide clear and concise explanations of complex financial concepts. They use real-world examples to illustrate their points. The book is an essential resource for any CFO who wants to make a significant impact on their company.
Buy The 80/20 CFO here (The 80/20 CFO: How to Make Strategic Transformations in Your Company)
5. Personal Finance For Dummies
Personal Finance for Dummies is a full guide of finance. The book covers budgeting, saving, investing, and retirement planning. As a CFO you need to make sure people around you make good financial decisions. This book has clear and easy-to-understand explanations, helpful illustrations, and real-world examples.
Personal Finance for Dummies is the resource for anyone who wants to learn the basics of finance. The CFO should build a good healthy financial culture in the organization. Personal Finance for Dummies has something for everyone. The book starts with the basics of personal finance. It covers topics like getting out of debt and estate planning too.
Personal Finance for Dummies is a clear and easy-to-understand format. Eric Tyson (Eric Tyson), the author, uses simple language to explain financial concepts. He also includes real-world examples to illustrate his points. This makes the book a valuable resource for people of all financial backgrounds.
It is for the people who want to take control of finance. We recommend Personal Finance for Dummies. It is an informative resource that can help you reach your financial goals.
Find Personal Finance for Dummies here: https://www.amazon.com/Personal-Finance-Dummies-Lifestyles-Audio/dp/0061153257
● The importance of communication: CFOs need to be able to communicate with other stakeholders in the organization. They need to be able to explain the financial implications of strategic decisions. They need to be able to get buy-in from key stakeholders.
● The importance of change management: Strategic transformation is a change process. CFOs need to be able to manage the change process . They need to be able to identify and address resistance to change . They need to be able to create a sense of urgency for the change.
● The importance of measurement: CFOs need to be able to measure the results of growth. They need to be able to track progress and to make adjustments as needed.
● If you’re serious about making a difference in your company, then you need to read The 80/20 CFO. This book is the key to unlocking your full potential as a CFO and helping your company achieve its goals.
Here are a few tips for choosing books for CFOs:
● Read books that challenge you. Don’t only read books that confirm your existing beliefs. Look for books that will challenge you to this and see the world in a new way.
● Read books that are relevant to your current role. If you’re a new CFO, you’ll need to learn the basics of financial management. If you’re a more experienced CFO, you’ll need to stay up-to-date on the latest trends and best practices.
● Read books that experts write. Look for books and see who wrote it . Books by experienced CFOs or financial experts will help you more. These books will give you the most accurate and up-to-date information.