Becoming a Chief Financial Officer (CFO) is as much about cultivating your mindset as it is about upskilling and improving your professional capabilities.

It’s a common misconception that confidence is a by-product of leadership when, in fact, confidence must come well before stepping into a leadership role.

I know I certainly felt this way, "When I become a Leader, I will get the confidence I need to be in that role".

 I hate to be the bearer of bad news, but it doesn't work like that. 

A job title doesn't give you confidence. 

You have to work on this yourself.  Ideally before the leadership role, but definitely when in it.

In fact, it's the first element of the Financial Leadership Fundamentals Framework - "Mindset & Understanding the Leadership role".  It's so important to go through this part of being a CFO than going through all the other practical elements of the CFO training without it.

So below you'll find, why developing a confident mindset is crucial for new or aspiring CFOs and some tips for nurturing self-worth and overcoming imposter syndrome.

Confidence: The Leadership Prerequisite 

Joining the C-suite team is full of challenges that test your belief in yourself. It is confidence that carries potential leaders through uncertainties.

Waiting to become confident until after attaining a leadership role is akin to putting the cart before the horse. True confidence is a mindset that must be developed and solidified in advance of leadership opportunities.

I find this particularly true for finance leaders - and I'm talking from experience here. 

Early in my career, I have been in leadership team meetings before and hardly said a word.  I had thoughts - of course, but I didn't voice them.  It's hard to be a leader and recognised for your efforts if you don't speak up and have the confidence to add-value to the organisation.

I wrote about how to speak up in leadership team meetings here.

Building Self-Worth in Your Career

Your sense of self-worth directly impacts how you present yourself and how others perceive you.

Improving self-worth is not just about affirming your skills but also about recognising the unique value you bring to the table. Here are some tips to enhance your self-worth:

• Reflect on past successes and learn from them.  (I even keep a "good feedback" folder in my emails should I ever need a refresher)
• Set personal development goals and celebrate when you achieve them.  It's something you can work on, so take action rather than just thinking about it.
• Seek feedback and use it constructively to grow.
• I have a few book recommendations here.

Navigating Imposter Syndrome

Imposter syndrome can be a formidable barrier on the road to a CFO role. Ideas are:

• Acknowledging your expertise and the experience you've gained.  You have no doubt come a long way - looking back sometimes helps so you can take that next step.
• Speaking to mentors and peers who can offer perspective on your achievements.
• Engaging in CFO training that reinforces your leadership skills.

The belief that confidence will magically appear once you're in a leadership role is a myth that needs debunking.

Aspiring CFOs must nurture a confident mindset early on. Embrace each step of your career with the assurance that you're not just preparing for a role; you're building the leader within.

Links:

1. Try our Quiz!  Financial Leadership Foundations Scorecard.  
2. Work with me in the Financial Leadership Foundations course  that includes monthly Q&A sessions where we can discuss all of your questions and how to apply your learnings to your current role. 
3. Work with me as a Founder needing guidance and support from experienced Finance leaders. Take a look at our guide on Outsourced bookkeeping.