It’s simple: Give me a CFO who has owned a business before over anyone with a lot of practical experience and diplomas. The reason is the Chief Financial Officer who has owned businesses better understands the risk because they too have been there. Not only do they understand and feel the risks, they can identify the risks faster because they have an owner's perspective.

Until you feel what it is like to have an unsuccessful sale in retail, to not be able to fill manufacturing orders because you did not have the right inventory, not having enough cash flow to make payroll, or the pressure of employees underperforming, you do not really understand. These are just a few of the issues that only business owners stay up nights thinking about.

Employees and vendors do not worry about these issues nor do they have the owners perspective of these issues. A CFO who owned a business before not only has the financial and business acumen to be productive, but also has a mind set that only a business owner has and can perform like a business partner without owning stock. In short, it gives the business owner another set of business owner eyes and that is invaluable.