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Tips for CFOs to survive the transition to value
- Give up clinging to the illusion of certainty, said executive coach Tony Mayo. Accounting is a black and white world and as such attracts people who like certainty. However, once you move from being a bookkeeper to being a CFO, you are dealing with the future rather than keeping track of the past. “We think we can control the outcomes, but we can’t, so trade certainty for confidence,” Mayo said. “Confidence that you can handle what is coming next. Rather than trying to control and constrain, let’s learn how to respond and create.”
- Understand your purpose. “If you identify yourself with a particular number occurring on a particular day, you can’t win,” said Mayo, so get clear about your purpose as a human, as an executive and as an organization.