Latest / The Diary of a CFO / What it takes to move from strong performer to executive
Transcript
- 0:02Welcome back to Daria the CFO. Today's episode
- 0:05is a recap of a recording I did of a webinar
- 0:10on December 19th. The title of the webinar was
- 0:14the number one mistake keeping you from executive
- 0:16roles and how to fix it was really about how
- 0:19to unlock your potential when it comes to reaching
- 0:23and thriving in executive roles. Take a listen.
- 0:26I spent about 15 years in accounting and FP &A.
- 0:30So even though it wasn't all smooth toward the
- 0:33end, it was quite fast getting to where I am
- 0:36now as a CFO of ACE. And so I've seen many talented
- 0:40professionals stay stuck in middle management
- 0:43because of how they approach your lead to executive
- 0:46leadership. And that's what I really want to
- 0:47focus. Today, I really want our conversation
- 0:51to be focused on and my purpose for you today
- 0:54is to get clarity. Once you have clarity, you
- 0:57can then have focus so you can do the right thing
- 1:01and actually get the right results. And yes,
- 1:04results also mean money and impact because clarity
- 1:07drives focus and focus drives action and action
- 1:10drives results. So as we are thinking about how
- 1:13do we make that leap? into executive leadership.
- 1:17It's good to have clarity about what executive
- 1:20leadership is in the first place. Business executive
- 1:24is a senior leader that drives overall strategy.
- 1:28So strategy, keyword number one and success of
- 1:31the organization. So not just the department
- 1:34because they are making decision that impact
- 1:37the entire organization. That was a first learning
- 1:42experience for me when I started because you
- 1:44start working and you often focused about how
- 1:47is this one thing going to impact me? It's going
- 1:50to make more work or oh, marketing is creating
- 1:53more havoc. So I used to hate sales and marketing
- 1:56team, but they're driving the business. It takes
- 1:58a bit of a change in mindset to start making
- 2:02your way. through executive leadership. And one
- 2:06thing to realize is that regardless of your company
- 2:09size, executives account for no more than 1 %
- 2:13of all employees, which means if you want to
- 2:16be part of the 1%, you cannot think and act like
- 2:20the 99%. I know that could be some harsh truth
- 2:23here, but it's true. You can take As today, wherever
- 2:27you're working, if your company has 50 employees,
- 2:30how many employees are in the SLT, the executive
- 2:33leadership team? How many employees? You'll likely
- 2:36find it's probably 1 % or less. When you start
- 2:40thinking that way, because again, it all starts
- 2:43with the way you think, you cannot be comfortable
- 2:46saying things that that's the way we've always
- 2:48done it or getting generic advice from anybody.
- 2:52You see things here and you go for it. And you
- 2:56have to start thinking of your career as a business,
- 2:59really. You're the CEO of Me Inc. I'm the CEO
- 3:02of my career. Who else is thinking the same way?
- 3:05Like we have to start thinking about us, about
- 3:09our career, like it's a business. Because a lot
- 3:14of time we're not willing maybe to invest a little
- 3:17more and we're only going to invest. or pay for
- 3:20what the company is covering. We cannot think
- 3:22that way. If you want to be part of 1%, I like
- 3:26to say that your career is almost like a venture
- 3:30or startup. You often have to put your money
- 3:32first before other investors show up. So there's
- 3:35a lot of things that you have to be willing to
- 3:37do differently. And the earlier you know about
- 3:40it, the easier it gets. Because as we go through
- 3:44our career, We usually think about four keys,
- 3:48right? What is going to open doors for us in
- 3:50our career? Key number one, education. Number
- 3:53two, technical skills. Number three, soft skills,
- 3:56or others would say human skills. Number four,
- 3:59experience. And we could even add a fifth key,
- 4:03which is hard work. So it's almost like you get
- 4:06to a point in your career and you are faced with
- 4:08different doors. I'm sharing here a graphic with
- 4:10four white doors and one yellow doors. And let's
- 4:12pretend that the four white doors are the doors
- 4:15from like your first job, then your first manager
- 4:18job, then some other before you get to the yellow
- 4:21door, which is the executive door. Let's say
- 4:24this first door here, you probably opened it
- 4:27with the key of education. And then maybe the
- 4:31other door, you are able to open because of your
- 4:34technical skills. Maybe it was because you were
- 4:36the best person in using Excel, the one who better
- 4:39understood the ERP system or any other things
- 4:43that really helped you be that technical go -to
- 4:46person. And then as you grow, you get experience,
- 4:50you get soft skills, you realize, oh, leadership,
- 4:53this is all good. And then you get to that yellow
- 4:56door, you get to that executive door and you
- 4:58try all your keys. And that's where I was stuck
- 5:00a couple of years ago. I was a controller for
- 5:02about five years. At some point, our CFO left
- 5:06and I was like, oh, I'm a controller. I'm a CPA.
- 5:09They're definitely going to pick me to be the
- 5:11next CFO. No. So I was like, okay. I went back
- 5:15to my education key, right? I went back and I
- 5:17went for my CMA. So maybe I had the experience,
- 5:21but I didn't have the CMA, even though I was
- 5:24already a CPA. I'm going to do this and it's
- 5:27going to help me open that door. Didn't work
- 5:30out. I quickly saw that I could stay there more
- 5:33years, nothing was going to happen. I shift,
- 5:36I look online and they say, hey, FPNA is a new
- 5:39thing. So I'm like, okay, I'm going to go into
- 5:41FPNA. I went from being a controller managing.
- 5:45a 15 people department to being an individual
- 5:47contributor, taking a pay cut to be an FPNA.
- 5:50I wanted to be an FPNA manager. That's what people
- 5:53said. That's what I went for. And that's what
- 5:55my LinkedIn post, I think last week was about
- 5:57people thinking that FPNA is the only way to
- 6:00do it. But anyway, I'm like, yeah, I'm going
- 6:02to follow the generic advice. I go for it. And
- 6:05there, there was still nothing, not much growth.
- 6:10I learned valuable skills. I learned more about
- 6:12being a business partner. And then COVID hit.
- 6:15When COVID hit, I think it all reset how we're
- 6:19thinking about our careers. Who else was in the
- 6:22COVID? Yes, let me reset. Let me think through
- 6:25some of the things that I'm doing. And I could
- 6:28clearly see that I was missing something because
- 6:31I tried education. I tried all the keys. I tried
- 6:35hard work. I tried all the keys. By that time,
- 6:38I was almost done with my MBA. So I was CPA,
- 6:41CMA, MBA. No sign of executive leadership role
- 6:45in sight. I had all these years. You want accounting?
- 6:47I can do it. You got treasury? I could. What
- 6:49else? You want Excel formulas? What do you want?
- 6:53Managing people? Yes, I told you, I had managed
- 6:55a bunch of people before, people that were actually
- 6:57sometimes twice my age. I had hired, I had fired,
- 7:01I had planned layoffs, I had done a lot of things.
- 7:04And you get to this door, this yellow door here,
- 7:07and you're like, what is going on? What is it
- 7:11that I am missing? And that's when I started
- 7:15spending time researching online. branching out,
- 7:20observing other people. Because there was this
- 7:22one lady at my workplace that I will never forget.
- 7:25Her name was Avera. And it felt like almost every
- 7:28year, I was there for almost four years, she
- 7:30was getting promoted to something. Even sometimes
- 7:32during the same year, she got like two promotions.
- 7:34And I was like, okay, how does that work? Because
- 7:38the only time somebody talked to me about a promotion
- 7:40was because somebody left. It wasn't because...
- 7:44Mmm, you're great. Let's create a job for you.
- 7:47But that didn't happen quite often in my career.
- 7:49It was because we did work done. Here's somebody
- 7:52that can do it. Slide in. But I was wondering
- 7:55what was the difference between those who seem
- 7:57to just crack through every door and where I
- 8:01was at the time. So I spent time on coaching.
- 8:04I took a personal branding course. I took any
- 8:07course, any coach you can think of. And that's
- 8:10when I realized that we struggled a lot. And
- 8:14I think that's the number one mistake we do when
- 8:16we're trying to get into executive leadership.
- 8:20It is that when you want to reach a higher level,
- 8:24that door may look the same, but the locking
- 8:27system has changed. Okay? When you think about
- 8:32a VP role, VP of Finance and Accounting, when
- 8:35I applied for that role, and it was actually
- 8:37through a recruiter, He told me, he said, well,
- 8:41they requested that the only candidate we present
- 8:44only have CPAs. I had a CPA, but I'm competing
- 8:48with other folks, right? They wanted people who
- 8:50had at least 10 years of experience, great. I
- 8:53was competing with people having 20 years of
- 8:55experience applying for the same job. They wanted
- 8:58people with those technical skills, those same
- 9:00soft skills, those same leadership skill. Why?
- 9:04Would my case be different? How would I position
- 9:08myself to be different? Because again, the door
- 9:13looks the same, but the locking system has changed.
- 9:17It almost feels like you're stuck and you're
- 9:20not sure what you're missing. You may be spending
- 9:24money like I did on different courses, different
- 9:27things, trying to go to different events. And
- 9:30it's very frustrating. And that is because the
- 9:33locking system has changed and a lot of us don't
- 9:35realize it. It's almost like you go to the door
- 9:38and you think you need a key, but now you need
- 9:42to crack a code. You actually need a pin code,
- 9:47a three digit code to get you through a fingerprint.
- 9:50It's almost as if because now again, you're thinking
- 9:53about the 1%. And the 1 % are not like everybody
- 9:58else. If every door was this way, there will
- 10:00be more, but there can only be a few leading
- 10:03organizations at this level. So once you get
- 10:07to the executive level, whether it's going from
- 10:09director to VP to SVP, there is a couple of things
- 10:14that you will want to consider. And that's why
- 10:15I framed it as PN, PIN, so that it's easy to
- 10:19remember. Because so far you realize you have
- 10:22management skills. You see probably your CFO
- 10:24and you're like, I could do this too. So it's
- 10:29because you have approached your career by unlocking
- 10:31those with familiar keys, your degrees, your
- 10:33experience, your hard work. And these keys fit
- 10:36the locks and open doors up to a certain point.
- 10:39Now you need to accelerate and you realize you
- 10:43don't need those keys anymore. And yes, if you
- 10:47realize sooner, you could have gotten faster,
- 10:49but it's not too late. Okay, I'm going to share
- 10:53with you what that PIN code is. The PIN code.
- 10:57Presence, influence, and networking. You need
- 11:00executive presence, which is how you show up.
- 11:03You need influence, strategic influence, influence
- 11:06to go from one idea all the way to the execution
- 11:09and people who don't report to you will buy in
- 11:12and be willing to do it because it came from
- 11:15you. And you need networking. Ever since my first
- 11:20VP role till now, I have not applied for a job
- 11:24online. And that is because a lot of the roles
- 11:29that are VP and up are only done through recruiters.
- 11:33They are only done for recruiters. A lot of the
- 11:36positions you may see on LinkedIn, they're just
- 11:38like an HR process they have to do to say, yes,
- 11:41we kind of check a box and we advertise the role.
- 11:44So let's think about presence. For you to show
- 11:47up as leadership material, there were a lot of
- 11:50things you were doing. For you to show up as
- 11:53executive leadership material, it is very different.
- 11:59It's how you show up. It's how you project your
- 12:02confidence and your authority. You cannot be
- 12:06executive material if when you walk into a boardroom,
- 12:09you feel intimidated and you can't even utter
- 12:11a word. You can't even say something because
- 12:14you feel out of place. You get into an interview
- 12:17talking to CEO and you like shaking. Well, that
- 12:20person will be your boss. If you're shaking just
- 12:22because they're here, you're probably not ready
- 12:24because if you're not ready in your head, it
- 12:27will translate. So when you think about your
- 12:29presence, you want to think about, are you seen
- 12:32as a doer or as a leader? That one was hurtful
- 12:38for me when I did my own, if I can say 360 degree
- 12:42review of how people saw me. And you can do your
- 12:46own audit too, because you can pretty much see
- 12:48what kind of requests come through your email,
- 12:52through your inbox. Do people ask you to do things
- 12:55or to lead things? Because if you are a doer,
- 12:59you will notice that on your performance review,
- 13:01you get a lot of, oh, great work. Exceed expectation.
- 13:05She was so good. He was so good. But then nobody
- 13:08talks about promotion. You get all these great
- 13:11comments. She's doing good. She's helping. This
- 13:13person is a bomb. Go to them. She's a go -to
- 13:16for this. He's a go -to for that. You have a
- 13:19great, glorious performance reviews, but there
- 13:21is no promotion. There is no increase. That's
- 13:23how you start noticing if you are seen more as
- 13:26a doer than as a leader. It also comes to how
- 13:29you communicate in meetings. Because if you have
- 13:32imposter syndrome, like I said earlier, preventing
- 13:35you from clearly articulating your thoughts,
- 13:37you will not come out confident. So that's the
- 13:40area of presence. Then we get into influence.
- 13:44Do you get buy -in easily from the people you
- 13:47needed the most? How often do you struggle to
- 13:51get your point across? How often do you make
- 13:54a suggestion and it doesn't even reach somewhere?
- 13:57You feel like you had a great idea, it went nowhere.
- 14:01That's your influence. That's how you want to
- 14:03align like with power players. Who do you know
- 14:07in the company? Do you have a sponsor? Do you
- 14:10have people who speak about you? when you're
- 14:14not in the room, who are advocating for you.
- 14:16What is your influence? How do you get things
- 14:19moving, even when people don't report to you?
- 14:22And then networking. That's a big one. Because
- 14:26it wasn't until, I think it was 2022, that that
- 14:30one hit me. I was working on cracking that code
- 14:32for you. Say, you're welcome. You are welcome.
- 14:36Because I'm giving it to you right now. Someone
- 14:39told me... You want to be a CFO, great. How many
- 14:43CFO mentors do you have? Do you know? Do you
- 14:46keep in touch with? Because your network impact
- 14:51where you go is what helps you extend your reach,
- 14:57not just the recruiters, right? Because again,
- 15:00you want to be recruited for executive roles.
- 15:02How many executive recruiters do you know? Do
- 15:05you regularly contact? For me, Very personal
- 15:09because back in 2022, 2021, I started a little
- 15:12bit posting on LinkedIn here and there. 2022,
- 15:15my audience grew bigger and I started making
- 15:17connections with people in the DMs because I
- 15:19realized it's not just what you see on the surface,
- 15:22it's what happened off -lifting or on the DMs,
- 15:24not just with things in your feed. That's what
- 15:26really makes a difference. And so I started connecting
- 15:30with people and I was invited to a AICPA conference.
- 15:35So I go there and there is like fortune 1000
- 15:38fortune 500 people. I'm like, whoa I get to meet
- 15:42like the one of the VP at Lowe's VP of Finance
- 15:47at Amazon I was impressed. I was like, whoa,
- 15:50this is so good. And one thing I realized is
- 15:55I didn't have enough people like this in my daily
- 15:57life To help me stretch my thinking I didn't
- 16:01have enough So now that you know the PIN drop
- 16:06in the chat, which letter do you think you need
- 16:08to work most on? Is it your presence? Is it your
- 16:12influence? Is it your networking? I will see
- 16:15how many I get and I can dive right now. Okay,
- 16:18so I'll start with presence. So when we think
- 16:21about presence, You probably have an executive
- 16:24you worked with and you realize when they enter
- 16:27the room, it almost felt like all eyes went to
- 16:30them. Or when there is a decision to be made
- 16:33and they say, what do you think? It's almost
- 16:36like the room goes quiet and all the eyes go
- 16:38to them. Even in virtual, there is a pause because
- 16:41people are waiting for that person to speak.
- 16:44The reason they're waiting is not just necessarily
- 16:46because of the title. It's because when an executive
- 16:50speaks, they... elevate the conversation. The
- 16:53next time you're in a meeting, think about how
- 16:55you are elevating the conversation. For example,
- 16:59for me, I told you, I was accounting manager.
- 17:01Every time I step into a meeting, I was like,
- 17:03no, no, no, this is not a good idea. Oh, he's
- 17:05going to mess up the system. I wasn't thinking
- 17:08about the company as a whole. I wasn't seeing
- 17:11the bigger picture. I was so focused on my department.
- 17:16I was so working in silos. that I couldn't see
- 17:20what really mattered. So I wasn't invited in
- 17:24too many rooms. I didn't realize that at the
- 17:26executive level, you need to think bigger than
- 17:28your title and your department. You need to think
- 17:31about the company. Where is the company going?
- 17:34And if you're not able to think that way, it
- 17:36means you probably need to spend more time with
- 17:39either your sales and marketing team. Ask them,
- 17:41what is a SWOT analysis of our company? What
- 17:45are our strengths? What are our weaknesses? What
- 17:46are the opportunities out there? What are we
- 17:49trying to do? Try to understand that to open
- 17:52up your mind and see the bigger picture, so you're
- 17:55able to come back and be in conversation where
- 17:58you elevate the conversation, before you dive
- 18:00into the weeds. What are we even here for? Now,
- 18:03back to I, for influence, okay? In a company,
- 18:07there is always what I like to call power players.
- 18:10It could be an admin. It's not even a title.
- 18:13It's the people that get you the meetings, the
- 18:15people that know who you should talk to, the
- 18:17people whose name comes every now and then. You
- 18:20need to align with them because if one of these
- 18:23people don't like you, your career at that company
- 18:25probably not going to go further. So you have
- 18:28to think in those terms too when it comes to
- 18:30your influence. How are people taking what you
- 18:34say into consideration? Moving on to N, networking.
- 18:40This is for thoughtful networking, not just networking
- 18:43for networking. I want to be a CFO. I need CFO
- 18:46friends. I need CFO mentor. And I will tell you
- 18:49that in 2022, I met my first CFO friend. Two
- 18:52years later, I'm a CFO. This stuff is real. Because
- 18:55when I was just talking to her, just when she
- 18:57was venting, she was dropping things like, oh,
- 18:59the board. I was like, board? Hmm, I have to
- 19:02worry about board management. The things she
- 19:04was talking about, how she was thinking about
- 19:07treasury money, she taught me so much. I asked
- 19:11the former CFO Caterpillar, I want a mentor.
- 19:14I just met you, I know, but will you mentor me?
- 19:16I started having CFO friends who taught me what
- 19:21it was like to be a CFO. For PIN, so presence,
- 19:25influence, and networking, you have to remember
- 19:28that it happens on three levels, all right? So
- 19:31it starts with yourself, your mindset. Then you
- 19:34move to what you need to do at work and then
- 19:37to what you need to do beyond work Okay, start
- 19:41with your mindset then what you're doing at work
- 19:43You cannot be in the day -to -day staying in
- 19:46the weed and not thinking strategically to try
- 19:49to elevate those conversation and be executive
- 19:51material because then You are able to realize
- 19:54okay when I look at my calendar What time am
- 19:57I dedicating to invest in me one hour 30 minutes
- 20:01or when I have time? There's only 52 weeks in
- 20:04a year. What is the spot on your calendar to
- 20:07meet a different person? Do you have a 30 -minute
- 20:09block somewhere to have a virtual coffee chat
- 20:11with somebody every week? There is only 52 weeks,
- 20:15guys. The year is ending soon, and years will
- 20:17go by, and that's why I want you guys to have
- 20:20that clarity so you can be more intentional about
- 20:23doing things at your level. at work, but also
- 20:27beyond work, how you show up. Your LinkedIn profile
- 20:30should scream executives. Mine was screaming
- 20:33executive, I was not even a VP yet, and that's
- 20:36how I was contacted to become a VP for the first
- 20:39time. Eventually, you want to fill out this chart.
- 20:43So the chart I'm sharing is a nine box grid.
- 20:46It has three columns and three rows. Across the
- 20:51columns, you have presence, influence, networking,
- 20:53and then the rows is what I should do at myself,
- 20:56the individual level, then at work, then beyond
- 20:59work. So a couple resources I want to share with
- 21:03you is one, the email guide. So I have an email
- 21:07guide called unlock your potential. And it's
- 21:10a 14 -day free email course. Every day for 14
- 21:13days, you'll be getting emails that are really
- 21:15breaking down the concept of PIN, the PIN code.
- 21:20So presence, influence, networking with much
- 21:23more details and some personal stories as well
- 21:26to help you go through that. In addition, I created
- 21:30an assessment called the strategic influence
- 21:33quiz that you can take to walk you through any
- 21:38misalignment you may have between how you think
- 21:40you are in terms of your personal brand and how
- 21:43people actually see you. It's an assessment.
- 21:46You can access all of that on my website, wassiacommand
- 21:49.com. And then last but not least, I have a cohort
- 21:53program coming up called the Office of the CFO
- 21:56Bootcamp. It's a three -week cohort program,
- 21:59very hands -on with weekly meetings that we're
- 22:03going to do live and have Q &A. Again, Tons of
- 22:07resources out there. Of course, you can always
- 22:08grab a spot on my calendar. It is quite packed,
- 22:11but I'm always trying to make sure I have room
- 22:14to answer all of your questions. Again, all this
- 22:17information you can find on my website at wassia
- 22:20.common .com. W -A -S -S -I -A -K -A -M -O -N
- 22:24.com. I see your question about... any future
- 22:28events to share with the community. My next event
- 22:31will be for the diary of the CFO podcast. I want
- 22:34to do a live Q &A, so it will be all Q &A. You'll
- 22:37be on camera so I get to see you and not just
- 22:39see the chat. And yes, so that one will definitely
- 22:43be in January. I'll post it on LinkedIn. Good
- 22:46question. Thank you. Any other questions? I see
- 22:50many. Thank you. Thank you. Thank you. The pin
- 22:52is awesome. Yes, I'm telling you, if you just
- 22:55work on these three letters consistently next
- 22:58year, there is no way your career will be at
- 23:01the same space. There is no way you'll be at
- 23:04the same spot in the career. Next question was,
- 23:07how does AI help you go in your journey? I don't
- 23:10think AI helped me much. I think I had already
- 23:13figured out a lot of those things before AI came.
- 23:17AI comes to help with productivity. For example,
- 23:20if I need to polish an email before I send out.
- 23:24Now, the very thought of knowing I need to polish
- 23:27or write a certain way comes from that experience
- 23:30of hanging out with other people or seeing how
- 23:33other leaders are interacting. So to even start
- 23:37that prompt, you still need that experience and
- 23:40that big picture mindset to know what to ask
- 23:43AI. Otherwise, by itself, it's going to sound
- 23:47very generic. Thank you so much for joining today.
- 23:50It was such a joy to share this with you. Definitely
- 23:53get the guide. You will get more detailed information.
- 23:56You should actually try to do it with somebody
- 23:58else. So if you download, ask somebody else to
- 24:00download on the same day. So every day you can
- 24:02have an accountability partner with you through
- 24:05this journey. That's it for today's episode of
- 24:09The Diary of the CFO. I hope you enjoyed it.
- 24:12If you have any topic you would like me to cover
- 24:15in the future, please send it to ask at thediaryofthecfo
- 24:19.com. Again, send an email to ask at thediaryofthecfo
- 24:23.com. If you connect me on LinkedIn, you can
- 24:25just send me a DM. The reason I need it is because
- 24:28I want to make sure I bring you the insight you
- 24:30need to be a better leader and be better at life.
- 24:33If you enjoyed this episode, don't forget to
- 24:36leave a review, subscribe, and share it. And
- 24:38I will see you next in another episode of the
- 24:41Diary of the CFO. Cheers.