Well rounded experience over several decades, is a must when hiring an outsourced CFO. Someone who has been ‘knee deep’ in the financial dealings in business, rather than someone fresh out of university with no experience, will deliver great value to a business.
Good communication to be able to explain the financial position and work out what you need to do about it is a must. The true value of a CFO is helping you to change the ‘status quo’… not accepting it. They are there to help you change and they can only do that with lots of ‘real live’ commercial experience.