In today's rapidly evolving business landscape, finance professionals and CFOs find themselves at the forefront of the strategic decisions that shape the future of their organizations.
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Whatever our reason is/was for starting out under own steam how many of us have thought about what is involved and more importantly how much money will I need to be able to maintain my living costs whilst being able to grow my business. I call this our financial runway.
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What had gone wrong? I believe the business had lost sight of the basics. There was a lack of effective leadership, little strategic direction and a dearth of reporting capabilities. Not only had business plateaued, the company had lost direction and stalled. It was missing clarity and a strategic plan.
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I have been consolidating my thinking this year – being forced to stay home tends to sharpen your focus on the important things, I’ve discovered – and have calibrated my internal compass. This has given me a clear direction for the next decade in terms of what I want to deliver to the world.
I guess you could call this my ‘how’ stage of thinking. I’ve always been very good at the ‘what’ – that is, working out what I want to achieve – but it was time I pushed myself into the ‘how’ – that is, how I will go about achieving those goals.
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I often talk about you being your own CEO. In that case, you should have a plan for where you’re heading and a strategy for getting there. How often you do you assess where you sit in the strategy of ‘you’ and how you are going to own your success? The first thing you should consider (and it’s another principle I often repeat) is what got you here won’t get you there. That is, you can’t rest on your laurels, because things keep changing and so should you.
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Do you ever get the feeling the word value is used so liberally these days that it has lost its value? We’re constantly being told what ‘value for money’ we’re getting when we make purchases; that a service provided is ‘good value’; or that we need to ‘value add’ in our own workplaces.
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Conventional wisdom says we each make 35,000 conscious, sub-conscious and unconscious decisions a day.
These decisions might crop up in a business or professional environment, in our personal life, in our circle of family and friends, or in a community/public context. Some are far more important than others, of course, and sometimes a seemingly minor decision can flow on to major consequences.
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How do you feel about the future, right now? Hmmm…. It’s OK, be honest. But I bet a high percentage of you haven’t really thought about how changes in your industry are already affecting you and your work. The future, however, happens regardless of our industry, background, experience, role, age or culture. Historian Yuval Harari’s opinion is that anyone, any person, falling behind in today’s digital revolution will not be able to catch up. So what does this really mean for you, your work, team, roles and responsibilities? Should you be worried?
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