We are coming upon the one-year anniversary of the economic meltdown.  None of us predicted this, or at least none of us prepared for this, but we’ve survived almost a year and need to start preparing for greater prosperity.  What have we learned, and what are the things CFOs should be doing now to strengthen their organizations to be best positioned when things improve? Please note, I don’t want to say get back to normal…what we thought of as normal was an illusion. We weren’t as wealthy as we were living, but we’re not as poor as we feel now.  Any way, these are the things I think we should do:

1.)  Buy, buy, buy!  What an amazing buying opportunity we were presented with!  Did it make sense to expand to Asia a year ago.  It probably still does…but it’s 40% cheaper today than it was then.  Can your firm benefit from an infusion of world class talent?  It’s out there - and you can get it without recruiting fees and for less than ever.  Go get ‘em!  Remember the startup who was as annoying as a pimple on your butt as they seduced your customers?   Well their valuation fell dramatically, if they survived at all.   Snap them up while the price is good.   Don’t wait…the time is now…or perhaps was six months ago.  Fortunte to the bold or something like that.

2.)  Sell, sell, sell.  That underperforming division - hasta la vista baby.  You have to think of survival of the entire enterprise.  Find somebody dumber than you (a great challenge for an over-weight, under-privledge bald-headed guy like me), and sell that division…this is not the time for sentimentality.   Want to go on a global expansion expansion?  Need money just to to survive?  Raise some capital.  Don’t obsess over valuation…get what you can at the best price you can.  You’ll be glad you did eventually.  Finally - come up with an intelligent, coherent plan (or at least one that you can trick others into thinking is intelligent and coherent) and sell it to everyone - investors, emloyees, customers, suppliers, the business communtiy.

3.)  Smile, smile, smile. The soft skills -leadership and communication - are the difference between the competent CFOs and the great ones. You need to project a sense of credible confidence in all of your plans.  If you don’t believe in yourself and your vision - nobody else will, and nobody will follow.  If you don’t believe in the vision you have formulated….maybe you should step aside.  In the words of Marky Mark, “If you ain’t in to win, then get the hell out.”