Below is a summary of observations from a business coach in the US that caught my eye, and we thought it’s worth sharing. This applies to CFOs as well as other Senior Finance roles.

The business coach had spent the past few days quarantined with COVID-19 and spent the time talking to a total of 29 CEOs to unpack their psychology, plans, and current experiences. (Ranging between $2.2M – $511M in Gross Revenue.)

He noticed that each CEO fell into one of three groups…

The FEAR-FOCUSED CEOs – this group is the most emotional, most concerned and most overwhelmed.

The UN-FOCUSED CEOs – this group is the one still uncertain about what to do, playing wait and see, and most dismissive.

The STRATEGY-FOCUSED CEOs – this group is the most focused on taking what it’s given and using it and still focused on growth/opportunity.

There’s a lot of uncertainty in the world right now… not for the first time this year, and probably not for the last…

A lot is going on that you can’t control… But there’s still a lot you have complete control over.

The Fear-Focused executive will spend all their time thinking, worrying and complaining about the things they can’t control.

Each minute of each day will be spent talking and thinking about things they can do nothing about.

The Un-Focused executive will pay attention to the world around them, but then ultimately do nothing with the information. They’ll dabble with a few different things and toy with different ideas but never really make any progress.

The Strategy-Focused CEO pays attention to what they can’t control but spends the majority of their time building a plan of action to execute on what they can control. They’re going all-in on aggressive action while everyone else sits and waits.

What group do you fall into?

If you are ready to take action as a CFO looking for a better opportunity or a CEO looking to hire a quality CFO then we can help.

Call 519-673-3463 or 416-847-0036

Photo by Stefan Cosma on Unsplash