value proposition

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. 

The Executive Job Search Challenge

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I was honored to join two of my fellow Career Thought Leaders, Wendy Enelow and Jan Melnik, on a blog radio show hosted by Deborah Shane last week. My area of specialty … reputation management. Of the many interesting questions Deborah asked me, here’s one that I consider very important. 

What common liabilities are you seeing in executive job seekers that is making it harder for them?

Since I play in the senior finance executive space, my response was from that perspective …

— Many of my clients, at least initially, express an unwillingness or reticence to embrace technology and make it work for them. For better or worse, this is the new normal. It’s a new game with new rules, and executives have to play to win.

— Finance executives tend to be numbers people rather than people people. Networking doesn’t come easily to most of them. And, Web 2.0 technology is about “social networking.” The time investment for networking can also be a huge detriment to the average CFO who is so busy working in his job that he doesn’t have time to invest in his career.

— Because they put long hours in on their job to the exclusion of working on their careers, they may not realize that financial acumen aside … the moment they leave with a big severance package in their pocket, their marketability takes a hit because they now have the black mark of unemployment on their record. Some recruiters would say these candidates are tainted. That’s a cold, harsh assessment that makes finding employment that much more difficult once an executive is UNemployed.

— And of course, competition is stiff for fewer opportunities. A clear and compelling value proposition has never been more important. Sadly, many executives can get tripped up and trapped in the responsibility conversation. Differentiation happens when they turn the conversation to what they have that a company is willing to pay to get … which is all about the candidate’s ability to solve a company’s pain/need/challenge/issue.

If you’re interested in listening to the entire show, you’ll find it here. 

Growth Strategies … Business & Career

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Sometimes the whole “managing a career” process just seems confusing, baffling, and maybe even unnecessary to CFOs. Today, more than ever, it is definitely necessary, and it does not need to be confusing or baffling. 

Run your career like you run your business. I’ve said that for years, but thanks to “Ready, Set, Grow” in CFO Magazine, let’s frame it in business terms to turn the fog into a crystal-clear 35,000-foot view. Quotes from the article are in italics, followed by my commentary. 

… How can you help them make money or save money?

This is key to your value proposition. Finance skills aside, the bottom line is really … how can make or save a company more than it will cost them to bring you on board? It’s not about responsibilities, credentials, or even education. 

… Focus on “developing products tailored to the specific needs of individual developing markets… Don't provide an American or a German solution to India; they need an Indian solution.”

The latter sentence is, in career terms, what I call the “spaghetti strategy.” Throwing your resume into any black hole and hoping and wishing for a response. Niched positioning to a targeted audience is a much more effective career management and job search strategy. 

You don’t have to be all things to all people … you have to be the right person for the right company.

"Good growth companies," says the Darden School's Hess, "tend to make acquisitions that are small and very strategic …

In proactively managing your career, you aren’t forced to do everything as soon as possible … as opposed to an active job seeker. It’s much easier and much more effective to execute a plan that is strategic and consistent.

… investing in areas that make sense for us, particularly in innovation.

Innovation! Web 2.0 technology. Online visibility. Reputation management. How can you leverage all the great new technology to stand out from other Chief Financial Officers rather than blending in with them?

Having your name on Linked In isn’t the same as having a branded, completed profile. Having a presence on Linked In isn’t the same as “networking” with people who need to know about you. 

Innovation means you already have an online reputation. The question is, will you control the message or be forced to respond to the message?

"The world has got more opportunities than issues right now. We need to make sure our organization looks at the opportunities and doesn't complain about the issues …"

Issues, from a career perspective, involve relying on posted positions. Too few postings for far too many candidates. It’s a frustrating and unfair screen out process. It’s also easy.

Opportunities abound through your online and offline networks and all the great technology available today. However, it’s not easy. So the earlier you get started, the easier a future career transition will be.

And, finally, this from one of my favorite authors/bloggers, Seth Godin …

If you only pay attention to the world when you need a new job (your channel is stamps and your message is your resume) you'll spend your day differently than if you are leading a tribe, participating in organizations or giving local speeches all the time.

It’s time to give serious consideration to running your career like you run your business … today, finishing last isn’t a viable option.

Resumes are about Strategy

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Last week I was contacted by a CFO who sent me two resumes to review along with a request to talk by phone. I would normally just do an email review on one of his resumes, but since he was referred to me I deviated from my typical response.

Turns out I was about the 10th in a long line of resume reviewers that he contacted. I guess he didn’t like any of the other feedback and was more interested in finding someone who would agree with what he did, or he just wanted free advice.

What he did, he told me, is pull an “award-winning resume” from another resume writer’s site and insert his name and employer names. Whoaaaaaaaaa! Resumes are about strategy, not taking a template you like and plugging in words.

Every candidate has his own unique personal brand, value proposition, strengths, values, and goals. Someone else’s resume will not foster powerful positioning from “his” (or her) uniqueness but rather, will more likely result in positioning as a commodity.

It’s what is different, unique, and valuable about you – what you distinctly bring that a company is willing to pay to get – that creates powerful positioning … not those things that are  “like”  or “very similar to” every other candidate. 

The Secret Weapon for CFOs is the Intangible

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One of the discussions by the recruiter panel at the CFO Rising conference was around the intangibles of being a Chief Financial Officer. Intangibles … as in presence. It won’t matter how great your finance acumen, skill sets, and deliverables are if you can’t, or don’t, communicate it compellingly. You won’t be able to sell it. If you don’t believe your greatness, no one else will buy it either. 

In addition to the solid finance skill set, operational contributions, and perhaps even the CPA and MBA designations, strategic CFOs who desire a seat at the executive table must bring personal presence, charisma, and the ability to inspire confidence. This is NOT an extrovert / introvert issue. It IS about having confidence combined with stellar communication skills. 

If you’ve been the catalyst that has led transformative initiatives, how are you talking about the problems you solved along the way?

If you’ve been a game changer that has led to growth, what’s the behind-the-scenes story that looks at the challenges and issues you waded through to deliver the growth?

If candidates can’t articulate these compelling stories with confidence, the stories will fall flat. 

Digging deep to uncover a compelling value proposition is hard work. However, as in most things, the hard work inspires confidence and confidence leads to self-belief. When you believe in yourself and your ability to do great things based on a solid record of contribution, you can sell it and companies will buy it. 

CFOs typically call me for the tangible … a resume. What they get is the intangible … a clear, compelling, and authentic value proposition that they can say, believe, and sell.

Whose Responsibility Is It?

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I was contacted last week by a CFO expressing great frustration in his job search. Why, he asked, was he the only one who could see how easily he could make the transition back into a private industry leadership role after being out of private industry for the last 10+ years. He was confident those last 10 years only ADDED to his ability to lead a finance department. Looking at his marketing documents, I understood why.

My question to him – and to you – is this …

Whose responsibility is it to connect the dots so your value is obvious? Yours? Or, the prospective company?

There is no question that the job search today is challenging. However, it is made all the more exasperating by, in my opinion, these two things … 

—Not understanding your positioning 

It is not what you did (responsibilities) that a company is buying. It is your ability to solve problems, and particularly their problems, that they will pay good money to get. If you aren’t positioned as a problem solver, your positioning is weak, vulnerable, and suspect and relegates you to commodity status.

Maybe you do understand your value proposition, and you can even clearly articulate it. Do your marketing documents convey the same message? Resume writing is about strategy, which is why templates often fail to make the grade. A one-size-fits-all approach isn’t a good marketing document strategy, nor is it a good candidate strategy.

–Being all things to all people

Being niched … and branded … I am a bit biased in this regard. Still, my belief is that being a subject matter expert trumps being a generalist; knowing a lot about a little is more valued than knowing a little about a lot; and everyone has one or two things at which they excel and would differentiate them from the competition. Most people just haven’t taken the time to figure it out. Rather, they rush into a job search trying to be all things to all people in order to get that next position. 

If you can’t clearly convey why you are the best of the best at solving a company’s financial/operational problems, the prospective company probably won’t take time to figure it out either. That responsibility is yours as the seller of Product You.


CFOs … Don’t Be an Empty Suit

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I saw this clever post on the Ryan William’s Agency blog this morning … Getting Your Plastic Foot in the Door. It talks about a marketing campaign targeting CEOs to replace a CFO with outsourced CFO services. 

As a career coach, my take-away was the message I continue to evangelize to my clients … you are the only ones looking out for you. If you don’t manage your career just like you run your company, you might find yourself completely blindsided and run out of town.

I’m not sure there has ever a scarier, or tougher, time for finance executives. With grave concerns around the ability to forecast, manage working capital, and maintaining team morale giving every finance leader grey hair, it’s easy to put your career on the shelf while you lead your company through these very precarious times. However, doing so is at your OWN peril. 

It is critically important for you to know, and for your company to be very aware of, your value proposition. 

–Are you saving them money? How much? How did you do it?

–How have you contributed to long-term positioning and growth? Why was/is it important?

–What initiatives have you launched? What did it mean to the organization … bottom-line and long-term?

Spending regular, consistent time networking (internally and externally) and building your online visibility is akin to wrapping a security blanket around your career. You have the MOST power and positioning while you are still sitting in that corner office with a beautiful view … rather than looking through the glass door from the curb. The severance package might be nice, but when the money runs out so does any security.  

Don’t let an empty Ken suit catch you by surprise! 

Where There’s Change: There’s Opportunity

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The most effective search strategy is networking … because anytime there is change, there is opportunity. Being one of the first to learn about upcoming changes from your circle of influence, positions you to act early and swiftly.

When Boards make leadership changes, that can often also include changes in those around the leaders. Look at what’s happening at GM, for example:

[CFO] Young’s departure is one of several possible changes amount senior executives, and the board is reviewing other positions, the source said. (Detroit News) 

In a true private sector situation, those changes aren’t usually announced until after the fact. Passive candidates who already have solid recruiter relationships, a compelling value proposition, and strong visible presence will be the first to be tapped for those opportunities.

Networking = early, swift, effective. If you snooze, you just might lose!

The Inmates Are in Charge of the Asylum

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Matt Bud made this statement in one of his recent FENG newsletters. For job search candidates, it must certainly feel that way. Here you are, talented, capable, certainly qualified to do the job … and yet, you hear nothing. In fact, the silence is deafening! Ever notice how few people return calls even when they say they will? You never do that, right?

Back to the asylum. It’s a new era; one which is defined by A-players who have a compelling and visible marketable value proposition (MVP) and WHO ARE EMPLOYED. 

Just today, this article crossed Reuters: “U.S. banks play catch-up on hiring effort.” Great news, right? Until you get to page 2 where it says this:

There is also a bias toward hiring people from other banks that survived the crisis rather than hiring those who lost jobs in the last two years, even if that means matching stock payouts or offering guaranteed bonuses, headhunters say.

The old adage “it’s easier to find a job when you have a job” is still true. Add to that the fact that you have the most power when you are employed. You are more desirable maybe for no other reason than that you are on the inside looking out! More desirable often equates to more dollars.

While we KNOW that CFOs who are unemployed may be just as qualified as an employed CFO, the inmates ARE still in charge and the rules aren’t going to change anytime soon.


Resume Authenticity

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Cathy Graham authored an informative post entitled “Living Up to Your Resume.”  While it offers a number of good insights, here’s the one I want to key in on today … because it is so critically important.

Resume writing services are out there and many are very good. However, you can end up with a product that really bears little relationship to who you are. Experienced recruiters and employers pick up on this quite quickly. Robert Half International conducted a survey of 100 Canadian senior executives, asking them “How common is it for a job applicant who has a promising resume to not live up to your expectations when you interview him or her?” Sixty-five percent said it was very common. One of the biggest causes of this disconnect stems from inflating your achievements. When you get in an interview situation, with its attendant stress, you are unable to relate your experience to match the way it is conveyed on your resume. 

One of the things I evangelize to my clients is the importance of consistency between who they look like on paper and who they appear to be in person. It is also why my clients work very hard through the marketing document development process. Until they are crystal clear about their marketable value proposition (MVP), the pain they’ve taken away, challenges overcome, problems solved, and situations improved … and they can articulate those points … they simply canNOT compete as A-players.