Most finance professionals think they’re doing the right things to get promoted.

• They work hard. 
• They improve reporting. 
• They fix processes.
• They keep everything running.

And then they get stuck.

Not because they’re not capable. But because they’re focused on the wrong thing.

The biggest career mistake I see in finance leaders is this: They become too valuable in their current role.

The “Too Good to Promote” Problem

If you are:

• the person who owns month-end
• the one who fixes every issue
• the one everyone relies on to keep things running

Thenb you are absolutley too difficult to replace.  And that creates a problem.

Because from a founder or CEO’s perspective:

• promoting you creates a gap
• that gap is risky
• and there’s no clear backfill

So instead of moving you up, they keep you where you are.  Not because you’re not good enough.  Because you’re too important where you are.  Especially in a fast moving environment where sometims things can look a little shaky.

What This Looks Like in Practice

You’ll recognise this if:

• You’re still heavily involved in month-end
• You’re reviewing everything before it goes out
• You’re the go-to person for every finance question
• You struggle to step away without things slowing down

You might also hear things like:

• “We really need you where you are right now”
• “We just need to stabilise things first”

That can go on for years.  I'm not over-exaggerating when I say this, it can literally go on for years!

Why This Stops You Becoming a CFO

A CFO is not the person holding everything together day to day.

We focused on this in last weeks post, Why Some Finance Directors Never Become CFOs, that a CFO is focused on

• decisions
• strategy
• direction
• communication with founders, board and investors

If you are still deep in the detail,  responsible for execution and solving operational problems, then you’re not operating at CFO level.

Even if you’re capable of it.

The Shift You Need to Make

To move forward, you need to actively make yourself replaceable.

That sounds counterintuitive, but it’s critical to get out of the same role you have been doing for years.

1. Build a Structure That Works Without You

This basically means:

• clear ownership across the team
• documented processes
• consistent reporting

So that:

• month-end runs without you
• issues are handled without escalation
• information flows without you chasing it

If everything still depends on you, you can’t step up.  (and let's be honest, you can't also have a proper holiday and as a start, you need a proper holiday!)

2. Delegate Properly (Not Half Delegate)

A lot of finance leaders say they delegate, but they don’t fully let go.  Instead, they:

• still review everything
• still make final decisions
• still get pulled back in

Proper delegation means:

• clear ownership
• clear expectations
• letting people run with it

Yes, mistakes might happen.  But that’s how the team improves.

3. Start Operating at the Next Level Early

Don’t wait for the title.  Start:

• joining commercial conversations
• contributing to strategy
• working closely with founders
• focusing on cash runway and growth decisions

This is how people start to see you differently. 

4. Be Clear on What You Want

Sometimes the issue is simply that no one knows you want the role.  Does the founder know about your ambition?  Does the HR department (if there is one?!), know?

Have the conversation with both your founder and HR:

• “I want to move into a CFO role”
• “This is what I’m working towards”

Then align on:

• what needs to change
• what gaps need to be filled

Without that getting that clarity, then assumptions get made.  It honestly might just be that your founder never knew that you wanted to step up.

5. Shift Your Identity

This is the harder part.  You want to move away from the person who delivers to “I’m the person who leads and decides”.  This can take months.

That means:

• letting go of control
• being comfortable not knowing every detail
• focusing on outcomes, not tasks

If you’re not getting promoted, it’s worth asking, are you too valuable where you are?

Because that’s one of the most common reasons finance leaders get stuck.

The goal is not to be indispensable in execution.  The goal is to be trusted at a higher level.

If you want to become a CFO, your job is to:

• build a team that can run without you
• step into strategic conversations
• and start operating at that level before the title comes

This is part of my series on becoming a CFO in a startup. You might also find these useful:

• The 5 Skills Every Future CFO Must Learn
• Why Some Finance Directors Never Become CFOs

Want to become a confident, strategic finance leader in a startup within the next 12 months? 

Here’s your plan:

1. Subscribe to my YouTube channel and Newsletter for weekly practical tips and real talk about startup finance leadership.
2. Read my book Financial Leadership Fundamentals to get clear on what’s expected of you and how to show up as a leader.
3. Join the Financial Leadership Fundamentals course to fast-track your growth with structure, support, and strategy that works in the real world.