Episode 25: Eight tips on how to stand out
Introduction
How do you stand out? I mean the number of CAs, CFA charter holders, MBAs, etc. are rapidly increasing every day plus the jobs are not increasing commensurately. So, qualifications alone may not do the trick.
With tough competition at work it’s often difficult to be visible.
This is also true for the job market- unless your resume is exceptional (and having the below will help) it won’t be picked for an interview.
Hence this episode is not just for people already in a job who want to get promoted or get a plum role or location in the same company. It’s also for anyone employed but who wants to remain employable even outside his current company.
I spent 17 years in corporate life going all the way from Audit Senior to Executive Director- Finance and I learned a lot about staying visible.
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EPISODE TRANSCRIPT BELOW:
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These are the 8 tips that I picked up. I give these below in no order:
Tip # 1 - Upskill
This may be an obvious one.
Yes, you have the right degree or qualification but how well can you apply these at work? Qualifications give you a lot such as knowledge & respect but not necessarily the skills. What are some skills to acquire?
If you want to excel in advisory, equity research, asset management, FP & A, risk management etc. you must be expert at advanced excel and financial modelling.
Report writing skills are key. You may be a whiz at excel but what’s the point if you can’t write in a clear, concise & compelling way to your clients?
Coding skills help especially if you are a trader or equity researcher
Point- Incredible as it seems in this day and age, most young professionals still believe in (and rely on) their hard-won qualifications too much and underrate technical and soft skills. Learn & stay ahead.
Tip # 2- Look at the big picture
Think beyond your role, your department, your company, even your sector
Spot country & industry trends like GDP growth, tourism traffic, retail traffic, cost of living, quality of life, employment, interest rates etc. Go macro. Then think about the impact on your company.
Check out the competition and suggest strategies
Point- Finance folk like most professionals are too narrowly focused. That’s a big mistake but it’s also a chance for you to be noticed.
Tip # 3- Know the business
Know your company’s industry inside out whether it’s broking or asset management or real estate or private equity or anything else.
Understand how the business works.
Find out what are the key processes, key inputs (and their price dynamics), best practices, key metrics (both business & financial), key risks (business & financial), the mitigation for these risks, etc.
Apply this knowledge to your company and see where it stands & what the gaps are.
Figure out how you can be involved and add value. I will talk more about this in Tip # 6 coming up.
Point- Most finance folks are not commercially astute and ignore the business to focus on their narrow specialization. Plus, many plan to switch sectors so they don’t care. You on the other hand can become almost indispensable.
Tip # 4- Excel at communication
By which I mean written & spoken communication
If you excel at communication, you will get opportunities, you can make an impact and you will stand out.
What are the features?
Honest
Concise
Compelling
Balanced & rational
Critical yet constructive
Simplifying complex topics
What are the platforms where you can demonstrate these?
Face-to-face meetings.
Conference calls.
Presentations.
Emails.
Online on LinkedIn
Written reports. This by the way is a rare but valuable skill.
The above can be to colleagues, regulators, investors, management, clients, suppliers or business partners.
Point- Many people either don’t know what they are talking about or know it but can’t communicate effectively and that’s good if you can be better.
Tip # 5- Collaborate & network
Lots of opportunities in finance. Many people outside finance need your support because of your unique skills.
Use this as an opportunity to learn & network.
Examples:
Legal for financial review of agreements
Sales for sales forecasts and documentation
IT for acquiring or testing new systems
Operations for budget preparation
Capex Projects for feasibility studies
VIP delegations for presentations
Point- People get to know you and vice versa. You will be seen as being proactive & a team player. You also build a network and a reputation and become the first point of contact for outsiders.
Tip # 6- Initiate special projects
Given your knowledge of and passion for the sector you will identify gaps & areas for improvement
Step in and start sometime new that adds value.
Propose ways to reduce cost and be involved in the project.
Suggest a new product or service and be involved in the roll out.
I used to call these special projects and did this on many jobs I had.
Example- My Dubai real estate price report which quickly became demanded by the sales & marketing teams in my company and then within the group. I initially started working on it because I was curious and eventually it was produced monthly by my assistant who loved her job of also doing market research in addition to the usual monthly management reporting.
Point- This is a classic example of going above and beyond that can make you stand out. Because it shows a rare passion, industry knowledge, analytical skills etc.
Tip # 7- Red flag issues well in advance
Be bold- speak truth to power
This is much easier if you know the business & have done a deep dive.
This info is also a result of working with other depts who may tell you stuff confidentially.
But don’t just cry wolf. Suggest solutions as well. Management may not like it when all they hear from you are issues.
Of course, this depends a lot on the company culture. Many companies have an ass kisser culture where bad news is suppressed, and the messenger is shot so act accordingly. There’s little point in dying heroically but needlessly.
Point- You can easily stand out here because many of your colleague either don’t know issues well enough or don’t care or are too scared or ( as happened once in my case) were a bunch of frauds stealing from the company.
Tip # 8- Sense of humor
See the weird side to people & situations.
Don’t be scared to be a bit wacky.
What are the merits of this?
Humor defuses the tension in many tricky situations.
Humor helps develop rapport with strangers. For example, a joke is an excellent icebreaker before you start a meeting.
People also think funny people are smarter, more likeable and more confident (probably true).
Of course, you can’t force your jokes or make tasteless quips. It’s critical to know what to say, when and to whom. It also helps a lot to have a funny bone.
Point- many finance professionals (accountants, analysts, advisors, bankers etc) are bereft of a sense of fun or are too scared to joke. Hence, they are colorless and as interesting as watching paint dry. You can score a double-Have fun and boost your career at the same time.
The Summary
So, here’s the summary of my tips to stand out:
1. Upskill
2. Get the big picture
3. Know the business
4. Collaborate & network
5. Excel at communication
6. Initiate special projects
7. Red flag issues in advance
8. Have a sense of fun
Of course, these are from my personal experience in corporate life. I am sure other senior professionals will have their own list on how to be visible.
The above will make you stand out. They can also make you a hot candidate for management or leadership positions.
Now go blow their socks off!
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Binod:
This podcast is brought to you by the real finance mentor. Thank you so much for listening and I really hope you found it insightful and inspirational. If you did enjoy this episode, please drop us a review and spread the word. You should check out more exclusive content on therealfinancementor.com and my LinkedIn profile which is: Binod Shankar, FCA, CFA. Let’s keep in touch! Just add your name to the mailing list on therealfinancementor.com, and we’ll tell you about new episodes plus book reviews, upcoming events and blogs. Till the next time, onwards and upwards.
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