Strengthening Your Business and Financial Acumen is Easy!

The phrase for the week is "Financially Speaking”

When I’m coaching a senior manager or executive who wants a seat at important C-Suite meetings, I ask one question--How’s your business and financial acumen? If it’s a face-to-face meeting, I usually get a cold stare. If I'm coaching by phone, the silence can be deafening.

Here’s the deal, reading a profit and loss or any other financial statement is important. What’s more important, however, is understanding what it means in relation to the company as a whole. It is no secret, employees with business and financial acumen are better at thinking strategically, see the bigger picture relative to the company’s success and clearly understand how their function impacts that success. Also important is understanding how the company makes money.

This knowledge will accelerate your opportunities to be included in important discussions. I choose to purse an MBA to shore up this area of weakness in my toolkit. You can build your business and financial acumen through self-study, a certificate program or like me, pursue an additional degree. If you are currently in college, challenge yourself by taking courses or studying topics outside your core area of study. If you're in a company, invite financial and operational executives for coffee or lunch. You don't have to be an accountant or operations expert to understand the basics. If you aren't already doing so, begin reading the Wall Street Journal. Devise a plan to strengthen these areas today for your future success!

I am developing my business and financial acumen.

Comments

What Are Your Expectations?

The word for the week is "Expectations." Expect the best in all you do this week. I know, It is hard work. Working at a high level each and every day can be exhausting, especially when no one seems to notice. Or if they do notice, they don’t seem to care. Consider what you can achieve if each day for one week, you pushed yourself to maintain a high level of excellence in everything you do. What would that feel like? What if you start small? What if you start big? · When driving, come to a complete stop at every stop sign · Cross the street within the cross walk, no shortcuts--for anything. · No multitasking. Give 100% of yourself to every single task, big or small. · Expect that every encounter with a human will make you smile. ...

Check Yourself, Check Your Values!

The word for the week is "Values” We all strive to work in today’s dynamic times without compromising our values. When the way we want to live your lives is aligned with our actions, we are happy. When they are in conflict, unhappiness sets in and conflict ensues. This conflict destroys your ability to be creative, to innovate and grow personally and professionally. This week complete this awareness exercise to discover the behaviors that tell the world what you feel is important, what guides your life, your values. List your top five values. Next to each value, state your behaviors that are evidence to you and the world that these are your values. For example: My number one value is family. Everyone will know this because I rarely work evenings and weekends so I can spend time with my family. When you have completed the five values and evidence, put this in a safe place. Next, identify five people to help you with this awarene...

Communicate for Outcomes!

The word for the week is "Communication” Communication is central to all aspects of life. It’s a critical skill for maintaining your personal as well as professional relationships. · Builds trust · Establishes credibility · Lays the foundation for great leadership Be aware of the nonverbal cues you receive when speaking your mind. Silence does not automatically mean agreement. When communicating, ask don’t tell . Being asked lights up “positive visioning areas” in the brain, associated with greater cognitive and perceptual openness. Being told can activate “negative emotional attractor” areas of the brain, causing defensiveness. I communicate clearly and listen for clarity and understanding.

Your Leadership Coach

Search This Blog