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Linked In, Facebook, and Finance Executives

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Are there any synergies created for CFOs and other Finance Executives by using both Linked In and Facebook? I’ve actually blogged about this several times in the past, but the question was raised again … so I’m happy to respond again.

I believe there are synergies. The traditional view, and one that is held by many Chief Financial Officers and Senior Finance Executives is, draw a line in the sand and never the two shall mix. With all due respect to those who hold that view, it’s an outdated view for many of the reasons I cite in my previous post about CFOs missing the social media boat, and the sequel.

Here’s the skinny from my humble vantage point … 

In the tough and competitive job search climate today, a presence on Facebook combined with a strong professional presence on Linked In can actually work to a candidate's benefit … if done correctly. The ability of a candidate to showcase a 360-perspective is very restrictive on Linked In. Facebook, on the other hand, is much more open and transparent (hobbies, interests, circle of friends, communication style, including grammar and spelling). And, Facebook privacy controls help to keep private things private and non-private things public.

Culture fit is the most difficult part of hiring today. With a branded Linked In presence and a professional / personal Facebook presence, a recruiter and/or a company get a much more accurate, and complete, picture of a potential candidate. When you walk into a room … that picture already precedes you and can give you a huge advantage over the competition during the interview process – your fit with the company culture has already been decided.  

The more tools you use, the more of a time drain social media “can” become. However, with all the seamless integration now available across platforms, it is almost painless to create one post and populate your Linked In status bar, Facebook page, and even Twitter simultaneously. 

And that is all good for building density around a digital footprint that screams … Subject Matter Expert … while separating you from the competition.

K.I.S. for CFO Branding

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When most of us think about Albert Einstein, we think about a man who was so incredibly intelligent that the average person could not hold a conversation with him, right? Well, apparently that’s not the case. He actually embraced the “KIS” philosophy – Keep It Simple. "If you can't explain it simply, you don't understand it.”

Nick Tubach blogged about this philosophy as it relates to recruiting, but I think it is particularly important for a Chief Financial Officer’s personal / professional marketing message. "If you can't explain it simply, you don't understand it.”

It’s easy to get lost in the details, particularly the “experience” details. After all, we own, with some amount of pride, everything that we’ve done. But there are a few important things to remember when crafting your executive resume and communication message.

— 3 is the new 30. The Internet has taken a 30-second TV ad and slashed that message to 3 seconds. Can you deliver your marketable value proposition (MVP) in 20 words or less?

— The Blackberry, iPhone, and Twitter have forever changed how we deliver and receive messages. The most high-value piece of resume real estate is the top half of the first page. Can yours stand alone? Is it powerful enough to motivate your target audience or a recruiter to take action?

— Clarity and brevity are king. If you don’t know your MVP, you can’t communicate it. And if you can’t articulate it briefly and powerfully, you can’t sell it. And if you don’t know who needs what you bring to the table, no transaction will take place. 

K.I.S. … it’s a powerful weapon in the world of finance executive branding and marketing. 

Unplugged

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How, or even whether, finance executives “unplug” while on vacation has been a hot topic this summer. 

In June, CFO.com reported survey results from Robert Half Management Resources …

More than two-thirds, 69%, said they typically check in with work at least once or twice a week during their summer vacations, only a slight dip from the 74% tallied five years ago. Thirty-three percent of those surveyed check in at least once a day and sometimes more. Only about a quarter said they don't check in at all.

With only 26% of CFOs reporting that they unplug totally on vacations, Accounting SmartPros listed five tips to help finance executives plan their unplugged getaways.

Interestingly, a tweet from one of my followers in mid-summer said this …

My wife and I, on vacation, kids asleep, sitting on the couch, & what are we doing? Checking our Twitter feeds on our phones!

Although they weren’t “working,” they weren’t unplugged either. It describes our new culture of constant connectedness which is somewhat anti-socially social. 

Our poll at SmartBrief for CFOs last week asked about being unplugged during vacations. It apparently struck a nerve with that audience, eliciting a very high number of responses. While the numbers were quite similar to the RHMR survey, I found the 25% who said they were really just working in a vacation environment very telling.

That response may speak to a bigger story … and that is succession planning. The most brilliant of leaders are always grooming their successor (and I by no means am implying anything here). While this doesn’t preclude a CFO from having to handle a major issue while on vacation, it might allow him to feel confident that short of a “true emergency,” he, his company, and his career are all on solid footing while he’s incommunicado. And that security and freedom to totally get away can be a much needed refresh and recharge for finance leaders today.

The truth is that ensuring you have a well-groomed successor, rather than being a threat to your position, actually frees you to make the next move in your career, adds to your leadership skill set, and looks great on your resume. 

With Labor Day and the end of summer right around the corner, what can you put into place today that will allow you to have a fully, unplugged mental health holiday on your next vacation?

20 is the New 2

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During a coaching call this morning, my CFO client was bemoaning the fact that it is becoming increasingly difficult for him to deliver his message. He said he targets 2 minutes as the time to deliver his responses to interview questions, but finds himself getting cut off after completing one sentence.

20 has become the new 2. 

20 words vs. 2 minutes. Welcome to the new world of messaging courtesy of Twitter, texting, Blackberry, and iPhone. 

I can hear you now. I can also see your eyes rolling. It was evident in my client’s response, too. How can you possibly deliver your message in 20 words? 

Realistically, you can’t afford not to. If your responses are getting cut off, your message isn’t resonating. Conversely, if you deliver a crystal-clear 20-word hook that invites a follow-up question … SCORE!

20 is the new 2. You have to know the new rules if you expect to compete and win!

CFOs, Social Media, and Email

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Remember when …

–The Post Office was actually relevant because all correspondence came through your mailbox?

–IBM Selectric typewriters and “White Out” transformed office environments?

–30-second jingles heard on TV were “the” advertising medium?

And then …

–Mail was first replaced by fax transmissions, and now email.

–Memory typewriters and gargantuan computers replaced electric typewriters. Does the product “White Out” even exist today?

–Thankfully, intrusive push advertising became easily handled with a push of the mute button.

And today …

–There’s a computer in almost every home; and

–According to an Internet trends report by Morgan Stanley, email usage is flattening out as social media usage is increasing. 

What does the SM trend mean for you as a Chief Financial Officer? Maybe nothing if you are one of the few CFOs embracing the power of Web 2.0 technology. If you’re not onboard, you might get run over because this train is coming … and coming at full speed.

Beyond the typical career strategies social media facilitates (Tweeting, Social Media Boat, Sequel), here are some ways you can begin easing into the new technology …

–Use a private or internal Twitter account to rapidly and transparently communicate with your entire finance or executive team and/or track high priority projects;

–Encourage your executive leadership team to get on Linked In with complete profiles to raise the visibility and credibility of your company;

–Make your loyal clients or customers feel exclusive and inclusive with a private group on Linked In or a Facebook fan page. (If you’re a CFO and would like to join my CFO Careers group on Linked In, please send me an email and I’ll send you an invitation to join … or follow my Facebook Business page.)

I’d love to hear how you, as the chief finance leader, are leveraging the power of social media either corporately or individually.

Executives, Careers, & Social Networking

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Yesterday on Twitter I mentioned that I was reading a very interesting book on social networking entitled “33 Million People in the Room” by Juliette Powell. I’m not all the way through the book, but I will be in a few more days. It’s that interesting.

It’s no surprise where I stand on the importance of having a strong online presence. I’ve mentioned that CFOs seem to be missing the boat on social media … much more so than CEOs. The curious, or maybe not, fact is that operational CFOs seem to “get” it more than the traditional finance leaders do. 

In any event, this paragraph jumped out at me last night and it’s definitely worth your consideration …

Researchers Nguyen and Dang "discovered that not only are socially well-connected CEOs more likely to make more money, they are also far less likely to be fired for poor performance, and, amazingly, they were more likely than their unconnected peers to find new and solid employment when they were shown the door.” 

Now I know the author says “CEOs” but there is no question in my mind that it applies equally to Chief Financial Officers and other Senior Finance Executives.

The author of the book also says, as I’ve said, to ignore the power of social networking is to put yourself on the path to extinction.

If you are a finance leader and want more career-related information, you can get it by following my Facebook Business Page. You DO have a Facebook account, right?

Why did you leave your last job?

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A finance executive recently contacted me for some coaching on how to answer the inevitable interview question regarding why he left his last job. He struggled to put those unpleasant details and experience into an answer that was both positive and truthful.

Positive

The tendency is usually toward bitterness when you’ve been let go … for any reason. After all, you gave them 60+ hours a week, the best years of your life, kept them solvent … whatever. You did your best and what thanks did you get? It comes through in your words, tone, and even body language. 

The result is usually going negative in your answer. So keep your answer short, don’t blame anyone, and then deflect with a question to move the conversation to more neutral territory.


Truthful

Never. Ever. Ever. lie! First of all, you have to remember the lie you told. You don’t need to respond in gory detail, but your response must be honest.  Second, the Internet has made it very, very easy to uncover the truth. You should regularly Google your name to see what a potential company might find if they searched your name … and they most likely will. That way, you can go on the offensive and be prepared to answer those hard questions. 

Be sure to prep your references, particularly if they work(ed) for the same company, in the event the “why you let” question is posed to them. 

Brevity

If iPhones, Blackberries, and Twitter have taught us anything, it is that brevity is king. The surest way to sabotage your interview is to let a pregnant pause loosen your tongue. Prepare. Practice. Answer. And then, unless you are deflecting with a question, be quiet.

As a brilliant finance executive or CFO, working yourself out of a job is much different than losing a job. There is much power in the former, very little in the latter.

There is a Difference!

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Most Connected vs. Well Connected

Have you noticed these types of monikers attached to members on Linked In, Facebook, and Twitter? The “most connected” statement always makes me think Rolodex. Is it really possible to have a relationship with 16,000+ people on Linked In? Perhaps I’m a little old-fashioned but it seems to me that building relationships is about quality not quantity. Unless you are building a cold call contact list (like a recruiter), being well-connected to, and engaged with, a few will serve you better than merely collecting a lot of names.

Networking vs. Showing Up

These are very different. Many of my finance executives struggle with the networking concept. And I understand. For many CFOs, their jobs are demanding. Who needs one more thing to take time away from family and other priorities. 

However, networking today is defined as raising your visibility among those who need to know about you. That means engaging people. Just having a place holder on the various social networking sites with no picture, no interesting bio, and no conversation is merely showing up. Being a wallflower doesn’t raise visibility, it merely takes up oxygen.

Job Searching vs. Searching Posted Positions

A well-balanced job search strategy includes a variety of activities with searching posted positions as one of the “least” effective. And, the posted position game becomes even more ineffective the more senior your position. 

The best of all worlds is to do the things you need to do before you need to do them (managing your career) rather than being forced to give up power and do them because you have to do them (searching for a job). But, if you do fall into the latter category, move away from the job boards and diversify your search strategy.

And while we are speaking of job boards, the CFO recruiter who joined me on the Proformative Insight and Strategies for Seasoned Executives in Transition webinar told me he rarely, if ever, posts positions on public job boards. He’s not alone.

Branding vs. Marketing

This came up on the Proformative discussion boards following the Insights and Strategies webinar. There is an important distinction between authentic branding and marketing. Marketing is the pitch, persona, and perhaps even spin used in selling yourself. Branding, on the other hand, is leveraging the combination of your unique strengths, passions, and values that others … regardless of how they know you … all see in you and which attract “likeness”. This naturally pulls the kinds of opportunities that are a good fit with who you are. 

Branding occurs at the intersection of how others see you as it aligns with how you see yourself.  It requires honest feedback from people who know you and is why a person just can’t say I’m going to have this brand and then put it out for the world. If it isn’t who you really are, the world won’t buy it, at least not for long. 

Think of it this way. If you believe yourself to be a strategic finance leader but when asked, your team and the CEO and Board members all say they view you as a micro-managing bean counter … who are you really?

Is Your Career Like a Leaky Faucet?

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One of my Twitter CFO friends, Scott McPherson, blogged about the leaky faucet concept in businesses. It just so happened that I read this on the same morning a plumber was heading my way to fix an annoying leak in my shower faucet … so the article really resonated with me. Particularly this line …

Basically, that tiny leak had the power to turn into a huge nightmare.

Is your career analogous to a leaking faucet? It is if you just landed that new CFO position, and things are going great so why, you ask, waste time thinking about your career? Except that, it’s important to remember that you are only ever between searches. And the moment you forget that, your career can quickly become the small drip from a leaky faucet. 

The tension is palpable. The warning signs are everywhere. Good friends are caught in protracted, painful job searches. Drip. Drip. Drip …

And yet, it is easier to focus on today and the fact that you are fortunate to have a job. But what about tomorrow? Drip. Drip. Drip …

Remember the CFO I mentioned who had a great job one day and was walked to the door the next … with no inkling the end was coming when he walked in the door that morning. His drip turned into a full-fledged nightmare in less than 12 hours.

Getting proactive in managing your career can save that tiny drip from turning into the nightmare of unemployment. With a strong value proposition, marketability is at its highest when you are sitting inside looking out … and the people who need to know about all the great things you’ve done, know about them.

If you are unemployed and your search has been non-productive for awhile, perhaps it’s time to call a professional. If you continue doing what you’ve been doing, it is likely you will continue getting the same results.

Drip. Drip. Drip ….

The Sequel … Are CFOs Missing the Social Networking Boat?

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If you identified with yesterday’s post and recognize that you are a CFO who is missing the social media boat, here are a few thoughts for your consideration. 

There’s an interesting article on Digiday entitled “Forever Jung: What Makes Social Media Social.” Here’s a relevant excerpt … 

The more a message resonates, the more “social” it becomes. We have many “tools” to facilitate this sharing:  email, Twitter, Facebook, Digg, Reddit, etc.  But it’s imperative that we not confuse our tools with our goals. It is the connection to the “second psychic system” that remains the essential component of “social media.” Understanding this reintroduces the notion that what we say is more important than how we say it.  Empty messages don’t connect because the collective deems them not worth sharing.

Social media sites are merely facilitators of conversation. And NO message is an EMPTY message. 

Content may be king of the Internet, but engaging rules social media. In fact, the infamous “6 degrees of separation” has been reduced to 5 degrees by virtue of the Internet. Think about that. It is quite likely you can reach your target prospect through a mere five people. But not if you aren’t engaging with anyone.

I was reading a newsletter in which a gentleman said he had applied for a CFO position with an Internet start-up. However, the response he got was that his knowledge of the Internet and social media experience were so UNDER-whelming that he referred to himself as a “fossil.” He could well be on his way to being extinct. 

Here’s something you may not know. Since 2005, the demand for social media jobs has increased by 325%. How will you compete for finance leadership positions at companies who are integrating social media to support their core business practice and mission if you, as an otherwise qualified CFO, have missed the social media boat … professionally and corporately? 

If nothing more, embracing social media can put you at the front of the pack. In fact,  as a senior-level finance executive, it could even help you leave the competition in the dust. Not solely because you are perceived as “Internet or Web 2.0” savvy, but because you have strong visibility among the people who need to know about you. Playing in the social media arena goes a long way towards helping you be prepared for the unexpected, or, even better, ensuring that you can execute your 3-to-5-year career plan. You do have a plan, right?