Incidentally, with many CFOs I know, they either micromanage or they delegate everything and completely remove themselves from a project. To be successful as a CFO you need that middle ground so that you're neither micromanaging nor taking yourself completely out of the loop.

In the book I talk about the five areas [where you should focus] 95% of your time. Determine those five areas to fit your vision for finance, together with the CEO so that you're both on the same page. It's tremendously helpful in keeping sight of your vision and in making the tough decisions not to do things that don't support your vision.

A structured to-do list is a simple solution to this. It organizes your to-do list in categories based on the areas of focus we just discussed. When your areas of focus are transparent within finance, you can make sure your employees are focused on the right five things.