Leadership: How To Turn 2015 Into A Year Of Career Success…“A Goal Without a Plan is Just a Wish.”

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In my last blog, I discussed the importance of doing things differently during 2015. One of the tips I mentioned was creating a career strategic plan – to get you from where you are today, to where you want to be. That sounds difficult, you’re probably thinking. Actually, it’s not.

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Antoine de Saint-Exupery, a famous French writer, once said, “A goal without a plan is just a wish.” Achieving success requires more than luck, more than hard work — it requires a plan. And the great part is that your plan doesn’t have to be difficult to create or complex. Here is my (simple) advice for creating your very own career strategic plan:

Look in the mirror. Begin by seeing yourself as a competitive product. Take inventory of your strengths, weaknesses and differentiators, and then challenge yourself by facing any weaknesses and making improvements. What books can you read or seminars can you attend to improve your professional skills?

 

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Define your career aspirations. If you don’t know where you want to go, how will you get there? Take time to clearly define your aspirations. Where do you want to be in your career in three years, five years, 10 years?

Get to know the competition. Competition is a fact of life. How do your skills stack up against others? Understanding your competition will help you determine your advantages and shortcomings, and help you decide on the actions you need to take to better compete by improving yourself.

Identify your goals and create your plan. Goals reflect what you want to accomplish to improve yourself and to continue moving forward in your career. They ensure you are headed in the right direction and will achieve your aspirations quickly and efficiently. They are the steppingstones to your career aspirations.

Don’t wait to get started. There’s no time like the present. Don’t let fear of the unknown hold you back. Career strategic plans, like ideas, are effective only if you implement them.

Celebrate your successes. Don’t wait for others to shine a light on your accomplishments. Give yourself encouragement and rewards (new shoes, a movie night, a special dinner) to help provide motivation and inspiration as you continue on your path to accomplish your career dreams.

As the old saying goes: “If you always do what you’ve always done, you will always be where you’ve always been.” Make 2015 the year to change what you’ve been doing by daring to dream, and then creating a plan of action that will help you achieve your career dreams. You can do it!

~ Lisa Quast, author of the recently released book, Secrets of a Hiring Manager Turned Career Coach: A Foolproof Guide to Getting the Job You Want. Every Time.   Join me on Twitter @careerwomaninc

 

Forbes.com | January 5, 2014 | Lisa Quast 

Leadership: The Future of the CFO…CEOs say Their CFOs don’t Understand/Assist Them With the Challenges that They Face With Running Their Organizations

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The title of chief financial officer may be a bit of a misnomer in the modern enterprise. For one thing, finance only begins to describe what the C-suite, shareholders and the rest of the business expects of a finance chief. CFOs are expected to play a more strategic role in the C-suite at the same time that technology and globalization are adding layers of complexity—and overwhelming opportunity—to the corporate finance function in the Asia-Pacific region in particular. Perhaps chief technology evangelizer, chief strategic engineer or chief operations partner should share the billing with the finance title. CFOs today are expected to fill all of these roles.

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To gauge these expectations, Forbes Insights and KPMG surveyed 178 chief executives, business owners and chairmen of large companies to understand their changing views. The survey spanned 13 countries and territories in the Asia-Pacific region. CEOs from ANZ Australia, Pactera, Minor Hotel Group and other companies in the region also shared their views during in-depth one-on-one interviews.

What we found is that CEOs want to see more big-picture, strategic thinking from their CFOs. The greatest opportunity for a CFO to impact the value of an organization: contributing to performance and growth, say six out of ten CEOs. Yet many CFOs remain lost in the numbers, mired in regulatory minutiae, distracted by the daily demands of different compliance, tax and financial reporting regimes.

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One thing is clear: something has to change if CFOs are going to close the gap between the expectations of their CEOs and the reality on the ground. Are CFOs up to the challenge? Are CEOs expectations even realistic? What is the best course for CFOs who see the potential of becoming a more strategic business partner—or for the many CFOs who have set their sights on becoming a CEO?

“Most CFOs would love to do more on the strategic side,” says Egidio Zarrella, Clients and Innovation Partner and Data & Analytics Head at KPMG in China. “But they’re buried under regulation. They can’t get past theoperational and tactical aspects of their jobs,” he says. “But if you’re a C-class executive, you’ve got to put some time aside for strategic thinking or how are you ever going to be a business partner?”
Key findings include:

CEOs have set a high bar for CFOs. Almost three quarters of CEOs from high-performing companies—those with Ebitda growth of more than 10% in recent years—believe that the CFO’s role will increase in importance more than any other C-suite roles.

But, a third of CEOs feel their CFOs are not up to the challenge. Thirty-two percent of CEOs say their CFOs don’t understand and assist them with the challenges that they face with running their organizations.

CEOs value growth-oriented initiatives the most, and traditional areas of the finance function the least. Big-picture thinking and strategic approach are the most important attributes for a CFO, say 49% of CEOs.

CFOs need to transform the regulatory burden into an opportunity—or at least avoid getting mired in it to the detriment of big-picture thinking. Forty-three percent believe that the stringent regulatory environment is impeding the CFO’s ability to focus on other areas while 42% see the regulatory environment as an opportunity to derive competitive advantage.

Technology will be a make-or-break test for CFOs. Sixty-three percent of CEOs from high-performing organizations believe that technology will have the greatest effect on the future role of the CFO. CEOs expect their CFOs to do a much better job of leveraging the increasing wealth of financial information so as to play a more strategic role in assessing new markets, improving performance and meeting the regulatory burden.

CEOs put a huge value on people skills and see their CFOs as lacking in them. Eighty percent of CEOs from high-performing organizations say that nothing is more important than talent management but many also believe their CFOs can and should do a better job of managing their teams.

Forbes.com | January 5, 2014  |  Forbes Insights

Leadership: Business New Year’s Resolutions Every Manager/CEO Should Make…Most are Personal Resolutions as 2015 begins ,but What About our Professional Ones?

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The act of setting new goals and resolutions permeates everyday culture during the year-end holiday season. Television and radio commercials, not to mention social media posts, remind us to make our personal resolutions as 2015 begins – but what about our professional ones?

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The New Year can offer Managers/CEOs a powerful catalyst for business growth. The only question is which goals to set. For Managers/ CEOs who are unsure, here are three New Year’s resolutions that I have selected for my company in previous years that can benefit any business regardless of age and industry:

1. Work with key company data throughout the year

It may be tempting to only review all of your startup’s key operating metrics a few times per year, but this can make it difficult to foresee what changes might be needed before it is too late. Try to implement systems that will help you detect issues as they arise so that you can take action before a small spark becomes a wildfire. Consider:

  • Investing in data analytics and IT. This way, you can view daily, weekly, and monthly reports on those metrics that affect your business most. Ask yourself, “Is there a way I can tell how my company is performing – at this very moment – with just the click of a button?” What programs and strategies come to mind? How can you begin using them?
  • Developing your analytical and quantitative skills. You may not comprehend every mathematical formula involved in the creation of your business projections – but you should. Aim to understand the projections themselves and what action items can be taken, as well as the mathematical formulas behind them that led you to those projections. For example, how could you increase your client conversion rate? What are typical conversion rates for companies in your industry? Challenge yourself with exercises such as taking your product/service and determining the total costs that go into producing that item. Then, look line item by line item and ask yourself if there are any inputs that you can acquire at a lower cost, thereby increasing your margins.
  • Identifying milestones for the year ahead. For example, if your goal in 2015 is to double your 2014 revenue, what milestones does your startup need to reach each month or each week? Once you have identified the milestones, put systems in place to help you track progress toward those goals. Breaking down a big lofty goal into smaller milestones will also help your team members achieve a sense of progress along the way as each milestone is reached. These are often called “departmental goals” and they allow each team member to take ownership of a particular area of the business. If you hit most of your departmental goals, the annual high-level company goals are almost always achieved.

Like this Article ??.…First Sun Consulting, LLC- Outplacement/Executive Coaching Services,  is Proud to sponsor/provide our ‘FSC Career Blog’  Article Below.  Over 600 current articles like these are on our website in our FSC Career Blog (https://www.firstsun.com/fsc-career-blog/)  with the most updated/current articles on the web for new management trends, employment updates along with career branding techniques  .

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2. Get to better know your customers

Understanding your clients is one of the best ways to improve your product or service. Personal touches, like remembering subtle nuances of an individual’s preferences, can be an effective way to set yourself apart from others in your industry. But there are also more general client aspects to pinpoint, including:

  • Pain points. A customer’s pain point is the problem that he or she hopes to solve. Once you identify your client’s pain point, you can build a product or service that effectively addresses it. Think about additional pain points that your customers may be facing, beyond what your current services/products address. Consider, for example, the increase in usage of mobile check deposits. This feature lets you take a picture of a check using your smartphone and then directly deposit it into your bank account. For customers, this saves them the time and hassle of having to drive to a bank location – and for banks, this lets them have the deposit into their accounts much quicker. Features like these increase the “stickiness” of your product and make it less likely that a customer will leave you for a competitor.
  • Needs. What are your customer’s specific needs? For instance, does your client consider cost the most important pain point? Or is it speed? If it is speed, it may be advantageous for your company to offer on-demand services. In my business, for instance, we can deliver online tutoring faster than we can in-home tutoring, and so an online tutoring platform helps us meet better meet our clients’ urgent / last-minute needs. Every business likely has some consumers that will highly value the time to receiving service and make it a key aspect of their purchase decision (see Uber, TaskRabbit, Porch, etc. as examples of companies that have benefited from addressing this need for their clients). If you understand the extent to which your customers value different product attributes, you can enhance and change your product to better address their particular needs. Surveys and focus groups (even informal ones) can greatly enhance your understanding of your customers and what they want.
  • Objectives. You can think of your customer’s objectives as his or her goals. A client’s objectives may extend beyond solving a pain point – for example, a customer’s pain point might be that his or her car’s transmission is broken. The objective is therefore to have a reliable car for daily commuting and travel. Helping your customer achieve that objective can differentiate you from your competitors. For instance, you could help to identify a rental vehicle while the car is undergoing repairs, or you could decide that the car is not worth repairing and recommend that your customer purchase another vehicle as soon as possible and then assist in that transaction.

3. Focus on what truly matters to the growth and sustainability of your company

If you often find yourself mired in paperwork or other tasks that are not directly related to leading your company, consider delegating some of those tasks more frequently. As the CEO, how can you maximize the return on each hour you invest in your business? In other words, how can you best spend your limited time? You might periodically ask yourself, “Is my company ready for someone other than me to do X?”

With that question in mind, try to keep an eye out for those candidates who can assume the responsibility of key tasks, both externally and internally. One possible idea is to create an internal system that allows your team members to take on additional responsibilities as they develop. As your staff grows in experience and skill level, your business will grow as well. Engage your team members’ abilities and align their efforts, and they will likely help you achieve a level of success well beyond what you could have reached by yourself or without leveraging their full skill sets.

The New Year is the perfect opportunity to recommit to those factors that matter most to your business success. Whether you choose to emphasize data-driven analysis, knowledge of your customer, a focus on growth and sustainability, or all three, good luck with your 2015 resolutions!

Chuck Cohn is the CEO and founder of Varsity Tutors, a technology platform for private academic tutoring and test prep designed to help students at all levels of education achieve academic excellence

 

Forbes.com |  January 2, 2015  |  Chuck Cohn