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There is a huge gulf in knowledge and expertise between the so-called "bean counters", ie finance trained people, and those who have little, if any, finance training. However, everyone must still "count their beans" at regular points in time, eg, end of financial year for tax purposes, applying for loans, grocery shopping, paying your bills, etc, to better understand the state of their respective business and personal financial health. Being able to successfully bridge that huge knowledge and expertise gulf can be extremely daunting for anyone unfamiliar with the art of financial wizardry. The bridge and its structural strength analogy here, represents your level of financial literacy, competence in financial management, and the gulf is the consequential "black hole" into which you may potentially fall due to errant financial management, or even worse, intentional or unintentional financial mismanagement. When you hear terms like - budgets, balance sheets, profit and loss statements, cashflow forecasts, bookkeeping, assets, liabilities, working capital, operating capital, gross sales, cost of sales, gross profit, operating costs, net profit, return on investment, depreciation, amortization, compounding interest, taxable income, and the list goes on ... do you nod wisely because you know what those terms mean, or are you confused and then nod off in ensuing boredom? If you nodded wisely, you probably already possess a reasonable to higher level of financial literacy. If you are in the other camp, then you have much to learn to attain a competent level of financial literacy. Summing up, the key to "Monetary Figures Making Sense" is "Financial Literacy" and the key to astute "Financial Management" is "Financial Literacy". We are proudly affiliated with "The FIQ Project" which is on a mission to improve and enhance "Financial Literacy" within the general community, especially the sectors encompassing the disadvantaged. They are actively developing educational pathways and creating opportunities in association with both public and private sector organizations to foster their "Financial Literacy" for all mission. To find out more and potentially add your supportive voice, you can contact the author directly on MD-Dakeyras@bigpond.com and also click on the following links: https://fiq.net.au/our-offering/
Does that headline and the following strongly resonate with you? You are a relatively seasoned, established professional, currently engaged in an influential, corporate role, but self-reflecting with increasing frequency over your ambition to extend your professional career into the Boardroom world and speculating on how to successfully do it? If so, then you will need to transform yourself from being a “Corporate Hired Gun (CHG)” into a “Gunslinger of Choice (GoC)", as the two roles while respectively important, influence change and outcomes in different ways. Here are three questions will likely manifest repeatedly in your transformation journey with a contextually, simplistic view on each for your consideration – What’s the difference between a CHG and GoC? The CHG is a member of the organization’s executive team and is tasked to find viable answers to questions posed by others The GoC is a Board member and is the one asking the questions How does each role influence change and outcomes? The CHG’s role is a combination of being primarily operationally focused with a strategic overlay The GoC’s role is primarily strategically focused with minimal, if any, operational overlay Why does it matter to your Boardroom aspirations? As an operational executive, the CHG is engaged by only one organization at any given time and provides their operational value-add accordingly As a strategic Board member, the GoC may be concurrently engaged by a number of organizations and provides their strategic value-add accordingly. Everyone has an inherent quantum of unique talent, with great ambitions to realixde its full potential. However, those who continuously strive with unwavering focus, dedication and leverage to advantage the collective wisdom of our earlier pioneers, will be the ones best positioned to successfully achieve their goals. In closing, trust this helps you to clarify whether you are, at the start, end or somewhere in between, of the “Gunslinger of Choice or Corporate Hired Gun” continuum. If you would like to further explore how to transform yourself from a "Corporate Hired Gun" into a "Gunslinger of Choice" in the Boardroom, please reach out to me MD-Dakeyras@bigpond.com .