Baptism by Fire: A First Day

I still remember the first morning of my first CFO role—my first step into an industry I had never worked in before. I knew going in that the previous CFO had been gone for about six months, which I assumed meant there would be cleanup to do. What I didn’t yet understand was just how much of the foundation was missing.

During my very first meeting with the CEO, the picture came into focus—quickly and uncomfortably. The Controller had been gone for nearly four months. Before leaving, he had hired away the general accountant. That left me with just two people in the department and three open positions.

Then came the detail that made me pause. The CEO mentioned that the biller—one of the two remaining staff—was currently on vacation. What concerned him was that she had cleaned out her desk before she left. Not papers. Everything. Personal items included.

As if that weren’t enough, I learned that the company’s financial statements were six months behind. The CEO told me, candidly, that he felt like he was flying the airplane blind—making decisions without instruments.

It was still Day One. That afternoon, the interim CFO arrived. He sat down and explained that he had been tracking cash on a spreadsheet. According to his numbers, the company should have had about $200,000 in the bank. Then he paused. On his way to the office, the bank had called. The account had overdrafted that day. The line of credit was maxed out. And the bank wanted to know the plan.

This was not how I had imagined beginning my career as a CFO. And yet, this moment—unplanned, uncomfortable, and completely unscripted—became one of the most formative leadership experiences of my life.

Over time, we stabilized. I hired a Controller I had worked with previously and began rebuilding the team, eventually restoring the department to five positions. We worked relentlessly—closing two accounting months for every calendar month—until the books were fully caught up six months later. The CEO finally had timely, reliable information to run the business with confidence.

The bank, once wary, became a partner. As we communicated clearly and executed against a credible plan, they increased our line of credit—first temporarily, then permanently. Looking back six months later, I felt something new: pride.

I learned that leadership is often lonely at the beginning. That credibility is built fastest in moments of transparency. That most people—banks, boards, teams—will walk with you through a crisis if you acknowledge reality and present a thoughtful plan for moving forward.

I learned the power of relationships, particularly with your banker, long before things go wrong. I learned that awareness without action creates panic, but awareness paired with a plan creates trust.

And perhaps most importantly, I learned that someone else’s mismanagement can become your opportunity—not to criticize, but to rebuild, to lead, and to redefine what’s possible. That first day forced me to confront uncertainty head-on. It taught me that confidence is not something you start with; it is something you earn by surviving what you once feared.

~ Reed Vanderslik

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