October 3, 2023 • 13 mins
What if you, as a finance professional, had the power to shape the future of your organization and influence more positive outcomes? Imagine being the driving force that transforms your team into better versions of themselves! We're going to explore these possibilities in today's episode. With our unique perspective in assessing and measuring key data, we discuss how our daily tasks are not just about crunching numbers but are pivotal in making strategic decisions. Our role is to inspire and guide our team to appreciate how their work is making a real impact on the organization's success.
Episode outline:
- How Finance and Accounting professionals impact the organization,
- Show your team members how they make a difference, and
- A true Finance Leader will transform the people around them into a better version of themselves.
Please connect with me on:
1. Instagram: stephen.mclain
2. Twitter: smclainiii
3. Facebook: stephenmclainconsultant
4. LinkedIn: stephenjmclainiii
For more resources, please visit Finance Leader Academy: financeleaderacademy.com.
- On the website, you can download the Become a Finance Leader Guide. You can use this guide to build your Finance Leadership skills so you can help senior leaders develop and execute the strategy.
- I also offer a course, Advance Your Finance and Accounting Career: Developing a Promotion Strategy that Sets You Apart.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Stephen McLain (00:05):
I talk often about how finance and accounting
professionals can have apositive impact on their
organizations.
This week, I want to encourageyou to communicate how your team
members, through their dailytasks, can help shape better
decisions and influence morepositive outcomes.
It will be part of theirjourney in becoming more
(00:26):
effective finance leaders in thefuture.
I expect you, as leaders, togrow the next set of leaders we
must become finance leaders andto help shape better decisions,
so please share with your teamwhat they do every day matters.
Please enjoy the episode.
Welcome to the Finance LeaderPodcast, where leadership is
bigger than the numbers.
(00:47):
I am your host, Stephen McLain.
This is the podcast fordeveloping leaders in finance
and accounting.
Please consider following me onTwitter, facebook, instagram
and LinkedIn.
My usernames and the links arein this episode's show notes.
This is episode number 112, andI will be talking about showing
your team members the impactthey have on the organization,
(01:11):
and I will highlight thefollowing topics Number 1.
How Finance and AccountingProfessionals Impact the
Organization.
Number 2.
Show your team members how theymake a difference.
And 3.
A true finance leader willtransform the people around them
into a better version ofthemselves.
Legend and great leader JackieRobinson said a life is not
(01:33):
important except in the impactit has in other lives.
Welcome to another episode ofthe podcast.
I hope your week is going wellas always.
I am curious about whatvictories and wins have come to
you recently, so please share byemailing me at comment at
stevenmclaincom, or you canconnect with me on social media
(01:53):
and send a DM or, better yet,join my weekly email list.
I want to hear all the greatthings you are doing as finance
and accounting professionals andI want to hear the challenges
too.
What is giving you trouble andwhat do you need more help with?
I want to hear it all.
This week I am talking aboutsharing with your team the
impact they have in their dailytasks and duties.
(02:16):
Some of your team members areonly going through the motions
every day and they have no ideawhat their work means to the
stakeholders or the organization.
But what if they did know theirimpact?
Would that change anything?
I have talked about impact manytimes.
In episode 100, I talked aboutthe impact of finance and
accounting leadership.
(02:37):
I believe that we all have thepotential to be leaders in these
fields.
If you take numbers and turnthem into vital analysis and
then you talk over that analysisor share that in some way with
a department lead or a seniorleader, and that leader makes a
better decision, then you are afinance leader.
That is what we want to striveto do.
(02:57):
Grow to be positively impactfulfinance leaders and I know you
who are listening to thispodcast right now.
You can do it, you are doing italready every day, and
everything you are doing A truefinance leader goes the extra
mile to help make others better.
We set up our team for successand we ensure they get the
(03:19):
training and developmentopportunities to excel in their
career.
Finance leaders build teams andthey build organizations.
Every one of our team memberscan make a positive difference
and have an incredible impact onhow the organization does its
daily operations.
This is both as an individualand as part of a team.
(03:40):
They might not know what theydo makes a difference, so let's
show them, and it may, in fact,inspire many to do even better
in their tasks.
An organization survives andgrows because of leaders who
understand and develop afeasible strategy.
Strategy is always about thechoices you make with the
resources you have and how youserve your market best.
(04:02):
It's not necessarily about aproduct or a service, but how
you communicate best, how thatproduct and service can make a
difference with your customer.
It's about the offer you makeand how you help your customer
overcome their biggest problemor challenge.
When you think about strategy,think about critical choices
that must be made.
As finance leaders, we can helpmake better choices.
(04:25):
You and your team contribute tothat solution in a variety of
ways.
For example, you can help adecision maker to find
efficiencies so that theorganization's limited resources
are used in the best waypossible.
Often, a senior leader doesn'tknow where resources are
misaligned or wasted becausethey don't have a system set up
to evaluate it.
(04:45):
You and your team can help withthis.
You can help impact the seniorleader's ability to make a
better decision.
This is the major impact Ibelieve you are having, and you
can help your team know howimportant they are in this
process.
I love being a finance leader,which is when technical
expertise combines with a desireand passion to lead others and
(05:08):
the organization to somethingbetter.
Finance leaders dedicatethemselves to strengthening
their technical knowledge, theirbusiness acumen, communication
skills and leadership ability,so they use key data to help
senior leaders make betterdecisions.
Finance leaders bridge gaps incommunication and bridge gaps
between teams when they becomestyled.
(05:29):
We help to focus theorganization on what really is
important.
A manager becomes a leader whenthey know and embrace what they
can do beyond the daily tasklist that they have to
accomplish.
Leadership is aboutaccomplishing the impossible.
Especially when your team doesnot believe in the impossible,
where they are stuck by even thesimplest obstacles, we get to
(05:53):
instill belief again and toremove hard to go around
obstacles.
We inspire and we show that webelieve in our team.
We help overcome the impossible.
Now let's talk about showingyour team members the impact
they have in their organizations.
Number one how finance andaccounting professionals impact
the organization.
The greatest way we get toimpact an organization is
(06:16):
through our leadership.
We get to lead with the numbers.
We can measure just aboutanything, but what do those
numbers really mean and how canthey be best used to assess and
make better decisions?
Through our leadership, we canhelp shape and focus how senior
leaders look at the results andthen associate those numbers
with actions, the right actions.
(06:36):
A key phrase to adopt to helpsenior leaders understand better
, and that phrase is let's helpthem see it.
This phrase can inspire us toimprove our own communication
skills and influencing ability.
Let's help them see.
It allows us to partner withthem to show how the numbers,
the results, affect their KPIsand goal accomplishment.
(06:59):
We also get to bridge gaps incommunication.
Without even trying, teams canbecome siloed and separate,
often acting independentlywithout coordination from other
teams and departments.
As finance and accountingprofessionals, we can bring
teams and leaders of teamstogether because we often see
how each team is affecting eachother and how their separate
(07:20):
efforts affect the overalloutcome.
We can bridge those gaps andhelp teams to work better
together.
Number two show your teammembers how they make a
difference.
Our team members have a routinetask list and reports that they
accomplish every day, everyweek and every month.
When we only think in routine,we may start to believe that
(07:43):
what we do does not matter.
We start to believe that whatwe do is being ignored because
it has become so routine.
We need to show our team thatevery task matters, that every
analysis and report is used tomake better decisions and
assessments.
What your team does in the formof reports, analysis,
month-in-close and many otherways can help shape strategy, a
(08:07):
decision, confirm or currentdecision, show progress toward a
KPI, highlight our financialpicture and many other key
leader actions.
What I really want you and yourteam to do is to develop the
skills to tell a story and howtheir portfolio affects the
company.
A story helps to understand thesituation beyond the numbers.
A story gives context to theanalysis.
(08:31):
We are not just producingnumbers or reports.
Our numbers facilitateimportant discussions and
decisions, and that is why weshow up every day to make a huge
difference in how the companygrows, not just survives.
Number three a true financeleader will transform the people
around them into a betterversion of themselves.
(08:53):
Our role is not just about thenumbers.
It's about leading necessarychange and making the company
better.
It's about investing in ourpeople and letting people move
on who are not a fit.
We need leaders who put othersfirst, not just themselves.
We need selfless leaders whobring the team along with them
as they grow.
I don't appreciate selfishleadership, because it is not
(09:16):
leadership, it's selfishness.
Leaders make others around thembetter.
Leaders take radicalaccountability to transform
their organization into one thatexcels at their key
competencies.
A leader's primary role is tomake the people around them
better, which will make theorganization better.
Learn to hire great in thefirst place and and to terminate
(09:39):
employment when it no longermakes sense for those team
members to continue.
I want you to takeaccountability for growing your
team members and accountabilityfor shaping your team into one
that is productive and getsbetter always.
I encourage you to talk abouthow big of an impact your team
has on the overall success ofthe organization.
(09:59):
Now for action today.
Have you recently shared withyour team how they make an
impact?
Many may not even realize whatthey do helps to shape key
decisions or how the companyeven operates.
For example, when your accountsreceivable coordinator works to
improve the receivables rateand to eliminate late accounts,
(10:20):
that improves the cash flow andimproves the company's ability
to pay its bills on time andwhat option it has for future
investments.
They have a huge positiveimpact.
Please share this across theteam.
Also, please check outfinanceleaderacademycom when you
get a chance.
We want to help you with yourgoal planning and career
(10:42):
advancement.
You can find all the previousepisodes of the Finance Leader
podcast and a free guide onfinance leadership.
Please sign up for the weeklyemails so I can share a short
suggestion each week.
I promise that my emails areshort and can be easily
understood quickly.
Today I talked about how we, asleaders can show our team
members the impact we have inour organizations, and I
(11:05):
highlighted the following pointsNumber one, how finance and
accounting professionals impactthe organization.
Number two show your teammembers how they make a
difference.
And three, a true financeleader will transform the people
around them into a betterversion of themselves.
One last thought I want toshare before ending this episode
today.
(11:25):
I want to briefly talk aboutfocus.
Do you have trouble with focus?
Do you feel overwhelmed or notknowing where to direct your
effort or energy?
I deal with this often also.
I believe focus begins with onebig goal and your vision.
What is your one big goal?
Next is to break up that goalinto smaller pieces.
(11:46):
After that, relook at yourpriorities and your tasks.
Are you doing the right tasksand are you spending your time
in the right areas?
I want you to also look at whatyou can take on from your
supervisor's task list and, inturn, what tasks that you have
that you can delegate to yourteam.
This is about focusing on theright big goal and realigning
(12:10):
tasks and priorities to includeeliminating tasks and meetings
and other requirements that takeyou away from your big goal.
Focus More on this later.
I hope you enjoyed the FinanceLeader podcast.
I am dedicated to helping yougrow your leadership skills, to
change your mindset and toclarify your goals so you
advance your career.
You can find this episodewherever you listen to the
(12:32):
podcast.
If this episode helps you today, please share and leave a quick
review so that others may findthe podcast.
Until next time you can checkout more resources at
financeleaderacademycom and signup for my weekly updates so you
don't miss an episode of thepodcast.
And now go lead your team andI'll see you next time.
Thank you.
I talk often about how finance and accounting
professionals can have apositive impact on their
organizations.
This week, I want to encourageyou to communicate how your team
members, through their dailytasks, can help shape better
decisions and influence morepositive outcomes.
It will be part of theirjourney in becoming more
(00:26):
effective finance leaders in thefuture.
I expect you, as leaders, togrow the next set of leaders we
must become finance leaders andto help shape better decisions,
so please share with your teamwhat they do every day matters.
Please enjoy the episode.
Welcome to the Finance LeaderPodcast, where leadership is
bigger than the numbers.
(00:47):
I am your host, Stephen McLain.
This is the podcast fordeveloping leaders in finance
and accounting.
Please consider following me onTwitter, facebook, instagram
and LinkedIn.
My usernames and the links arein this episode's show notes.
This is episode number 112, andI will be talking about showing
your team members the impactthey have on the organization,
(01:11):
and I will highlight thefollowing topics Number 1.
How Finance and AccountingProfessionals Impact the
Organization.
Number 2.
Show your team members how theymake a difference.
And 3.
A true finance leader willtransform the people around them
into a better version ofthemselves.
Legend and great leader JackieRobinson said a life is not
(01:33):
important except in the impactit has in other lives.
Welcome to another episode ofthe podcast.
I hope your week is going wellas always.
I am curious about whatvictories and wins have come to
you recently, so please share byemailing me at comment at
stevenmclaincom, or you canconnect with me on social media
(01:53):
and send a DM or, better yet,join my weekly email list.
I want to hear all the greatthings you are doing as finance
and accounting professionals andI want to hear the challenges
too.
What is giving you trouble andwhat do you need more help with?
I want to hear it all.
This week I am talking aboutsharing with your team the
impact they have in their dailytasks and duties.
(02:16):
Some of your team members areonly going through the motions
every day and they have no ideawhat their work means to the
stakeholders or the organization.
But what if they did know theirimpact?
Would that change anything?
I have talked about impact manytimes.
In episode 100, I talked aboutthe impact of finance and
accounting leadership.
(02:37):
I believe that we all have thepotential to be leaders in these
fields.
If you take numbers and turnthem into vital analysis and
then you talk over that analysisor share that in some way with
a department lead or a seniorleader, and that leader makes a
better decision, then you are afinance leader.
That is what we want to striveto do.
(02:57):
Grow to be positively impactfulfinance leaders and I know you
who are listening to thispodcast right now.
You can do it, you are doing italready every day, and
everything you are doing A truefinance leader goes the extra
mile to help make others better.
We set up our team for successand we ensure they get the
(03:19):
training and developmentopportunities to excel in their
career.
Finance leaders build teams andthey build organizations.
Every one of our team memberscan make a positive difference
and have an incredible impact onhow the organization does its
daily operations.
This is both as an individualand as part of a team.
(03:40):
They might not know what theydo makes a difference, so let's
show them, and it may, in fact,inspire many to do even better
in their tasks.
An organization survives andgrows because of leaders who
understand and develop afeasible strategy.
Strategy is always about thechoices you make with the
resources you have and how youserve your market best.
(04:02):
It's not necessarily about aproduct or a service, but how
you communicate best, how thatproduct and service can make a
difference with your customer.
It's about the offer you makeand how you help your customer
overcome their biggest problemor challenge.
When you think about strategy,think about critical choices
that must be made.
As finance leaders, we can helpmake better choices.
(04:25):
You and your team contribute tothat solution in a variety of
ways.
For example, you can help adecision maker to find
efficiencies so that theorganization's limited resources
are used in the best waypossible.
Often, a senior leader doesn'tknow where resources are
misaligned or wasted becausethey don't have a system set up
to evaluate it.
(04:45):
You and your team can help withthis.
You can help impact the seniorleader's ability to make a
better decision.
This is the major impact Ibelieve you are having, and you
can help your team know howimportant they are in this
process.
I love being a finance leader,which is when technical
expertise combines with a desireand passion to lead others and
(05:08):
the organization to somethingbetter.
Finance leaders dedicatethemselves to strengthening
their technical knowledge, theirbusiness acumen, communication
skills and leadership ability,so they use key data to help
senior leaders make betterdecisions.
Finance leaders bridge gaps incommunication and bridge gaps
between teams when they becomestyled.
(05:29):
We help to focus theorganization on what really is
important.
A manager becomes a leader whenthey know and embrace what they
can do beyond the daily tasklist that they have to
accomplish.
Leadership is aboutaccomplishing the impossible.
Especially when your team doesnot believe in the impossible,
where they are stuck by even thesimplest obstacles, we get to
(05:53):
instill belief again and toremove hard to go around
obstacles.
We inspire and we show that webelieve in our team.
We help overcome the impossible.
Now let's talk about showingyour team members the impact
they have in their organizations.
Number one how finance andaccounting professionals impact
the organization.
The greatest way we get toimpact an organization is
(06:16):
through our leadership.
We get to lead with the numbers.
We can measure just aboutanything, but what do those
numbers really mean and how canthey be best used to assess and
make better decisions?
Through our leadership, we canhelp shape and focus how senior
leaders look at the results andthen associate those numbers
with actions, the right actions.
(06:36):
A key phrase to adopt to helpsenior leaders understand better
, and that phrase is let's helpthem see it.
This phrase can inspire us toimprove our own communication
skills and influencing ability.
Let's help them see.
It allows us to partner withthem to show how the numbers,
the results, affect their KPIsand goal accomplishment.
(06:59):
We also get to bridge gaps incommunication.
Without even trying, teams canbecome siloed and separate,
often acting independentlywithout coordination from other
teams and departments.
As finance and accountingprofessionals, we can bring
teams and leaders of teamstogether because we often see
how each team is affecting eachother and how their separate
(07:20):
efforts affect the overalloutcome.
We can bridge those gaps andhelp teams to work better
together.
Number two show your teammembers how they make a
difference.
Our team members have a routinetask list and reports that they
accomplish every day, everyweek and every month.
When we only think in routine,we may start to believe that
(07:43):
what we do does not matter.
We start to believe that whatwe do is being ignored because
it has become so routine.
We need to show our team thatevery task matters, that every
analysis and report is used tomake better decisions and
assessments.
What your team does in the formof reports, analysis,
month-in-close and many otherways can help shape strategy, a
(08:07):
decision, confirm or currentdecision, show progress toward a
KPI, highlight our financialpicture and many other key
leader actions.
What I really want you and yourteam to do is to develop the
skills to tell a story and howtheir portfolio affects the
company.
A story helps to understand thesituation beyond the numbers.
A story gives context to theanalysis.
(08:31):
We are not just producingnumbers or reports.
Our numbers facilitateimportant discussions and
decisions, and that is why weshow up every day to make a huge
difference in how the companygrows, not just survives.
Number three a true financeleader will transform the people
around them into a betterversion of themselves.
(08:53):
Our role is not just about thenumbers.
It's about leading necessarychange and making the company
better.
It's about investing in ourpeople and letting people move
on who are not a fit.
We need leaders who put othersfirst, not just themselves.
We need selfless leaders whobring the team along with them
as they grow.
I don't appreciate selfishleadership, because it is not
(09:16):
leadership, it's selfishness.
Leaders make others around thembetter.
Leaders take radicalaccountability to transform
their organization into one thatexcels at their key
competencies.
A leader's primary role is tomake the people around them
better, which will make theorganization better.
Learn to hire great in thefirst place and and to terminate
(09:39):
employment when it no longermakes sense for those team
members to continue.
I want you to takeaccountability for growing your
team members and accountabilityfor shaping your team into one
that is productive and getsbetter always.
I encourage you to talk abouthow big of an impact your team
has on the overall success ofthe organization.
(09:59):
Now for action today.
Have you recently shared withyour team how they make an
impact?
Many may not even realize whatthey do helps to shape key
decisions or how the companyeven operates.
For example, when your accountsreceivable coordinator works to
improve the receivables rateand to eliminate late accounts,
(10:20):
that improves the cash flow andimproves the company's ability
to pay its bills on time andwhat option it has for future
investments.
They have a huge positiveimpact.
Please share this across theteam.
Also, please check outfinanceleaderacademycom when you
get a chance.
We want to help you with yourgoal planning and career
(10:42):
advancement.
You can find all the previousepisodes of the Finance Leader
podcast and a free guide onfinance leadership.
Please sign up for the weeklyemails so I can share a short
suggestion each week.
I promise that my emails areshort and can be easily
understood quickly.
Today I talked about how we, asleaders can show our team
members the impact we have inour organizations, and I
(11:05):
highlighted the following pointsNumber one, how finance and
accounting professionals impactthe organization.
Number two show your teammembers how they make a
difference.
And three, a true financeleader will transform the people
around them into a betterversion of themselves.
One last thought I want toshare before ending this episode
today.
(11:25):
I want to briefly talk aboutfocus.
Do you have trouble with focus?
Do you feel overwhelmed or notknowing where to direct your
effort or energy?
I deal with this often also.
I believe focus begins with onebig goal and your vision.
What is your one big goal?
Next is to break up that goalinto smaller pieces.
(11:46):
After that, relook at yourpriorities and your tasks.
Are you doing the right tasksand are you spending your time
in the right areas?
I want you to also look at whatyou can take on from your
supervisor's task list and, inturn, what tasks that you have
that you can delegate to yourteam.
This is about focusing on theright big goal and realigning
(12:10):
tasks and priorities to includeeliminating tasks and meetings
and other requirements that takeyou away from your big goal.
Focus More on this later.
I hope you enjoyed the FinanceLeader podcast.
I am dedicated to helping yougrow your leadership skills, to
change your mindset and toclarify your goals so you
advance your career.
You can find this episodewherever you listen to the
(12:32):
podcast.
If this episode helps you today, please share and leave a quick
review so that others may findthe podcast.
Until next time you can checkout more resources at
financeleaderacademycom and signup for my weekly updates so you
don't miss an episode of thepodcast.
And now go lead your team andI'll see you next time.
Thank you.
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