Tag: frustration

CFO Folklore: My Personal Mantra


In my earlier post Why Do I Work So Hard? I talked extensively about conscientious attitude towards my CFO responsibilities.  However, time and again I find myself worrying about matters, which are not really under my direct control: lazy marketing people, self-serving sales force, inept operations, and (again and again) bosses who constantly jeopardize their own business.

And it’s not just me.  There are a lot of people in my network, who display the same level of care.  We frequently become each others’ sounding boards when the angst gets too overwhelming.

So, here we are at lunch.  My friend JM ranting about VP of Ops fighting with his girlfriend on the phone for three hours, while the production manager was waiting for him.  I am sharing the pains of trying to catch the President to release a $1M wire transfer and his dodging me because “he had enough for the day.”

And it’s not like we don’t have anything else to discuss.  Most of my business acquaintances are entertaining individuals.  JM, for example, has an incredible sense of humor.  I am a theater and foreign cinema fanatic.  Somehow, my banking relations are all classical music buffs.  We all read Jonathan Franzen and Michael Cunningham.

And yet, we talk about problems at work every chance we get.  Most people, when they stop for a second and think about it, get very angry and frustrated with themselves.  Frequently at the end of these conversations I hear, ” I don’t own this business.  It is not my fuck up.  Am I supposed to butt in on other people’s responsibilities? Why do I even care?“

Me? I don’t get frustrated about my caring so much.  And I tell my concerned peers that they shouldn’t get upset with themselves either.  You see, years ago I figured out that the conscientious working attitude, the ambition to succeed, the striving for merit-based rewards and the care for the entire business – they all go together.  They are inseparable qualities and indifference doesn’t fit into the picture.  If this is who you are, you will always care.  

Moreover, in small business environment, this very combination of qualities is what brought you to where you are.  This is what separates you from others.  This is what got you into the CFO or Controller chair with the correspondent salary and perks attached, which, in their turn, define your living standards. 

So, I’ve created myself a mantra: I CAN’T SURVIVE ON “I DON’T CARE.”  

There is a compensation threshold, which, when crossed, brings you into the stage of your professional life, where hardworking people care about the well-being of their employers.  I’d say right now it’s somewhere around $70K a year.   At $200K a year, you either care a whole lot, or you are a fraud, or you are working for a big-size mastodon.  So, ask yourself, “Can I survive on a $70K salary?”  And if you can, go for it – not caring is a bliss.

The Frustrated CFO Takes Lessons from Karl Pilkington


Images Karl Pilkington of Ricky Gervais Show and An Idiot Abroad has nothing to do with CFOs and Controllers.  Nevertheless, his unconventional wisdom, profound understanding of how bizarre life is, and unwavering ability to stay calm, deserve recognition in this blog.  After all,  the majority of issues we discuss are related to coping with the overwhelming strangeness of our professional existence, and human behavior.   Moreover, we look for the ways to get rid of our anxiety and frustration, and Karl has a good grip on his emotions and an admirable attitude towards life.  Watch the video at the the end of this post and you will see what I am talking about.

It is difficult for over-educated and jaded people like us, who spent their lives doing what was expected, to take lessons from someone who accepts life as it comes and is not afraid to voice his unusual opinions.  Karl Pilkington possesses the truthful innocence that we either never had or lost in the early stages of our childhood through severe parental and educational brainwashing.  Nevertheless, considering how frustrated most of us are with our lives, we should definitely try.  So, here are five lessons The Frustrated CFO draws from Karl Pilkington's wisdom.  None of them are profound breakthroughs and you probably knew them to be true already.  It's just that we frequently forget these truths, while Karl lives by them.

1.  If you keep your cool and don't refuel attackers, they stop pretty quickly.  We see Ricky laughing at Karl's every sentence, calling him names, etc.  Karl just sits there with Zen calm, not even smiling, or saying anything back.  The attack dies very quickly.

2.  If you don't retaliate people's insults, you automatically get yourself on the sympathetic side of the argument.  Ricky calls Karl an idiot, an empty-headed buffoon, etc.   We never hear a single crass word back.  So, what happens?  People say that Ricky is "soooo mean"  and everyone loves Karl.

3.  If you criticize a group of people instead of attacking a particular individual representing that group, it will have a much better effect.  When you address faults of one person they get offended and stop listening.  When you speak about shortcomings in general terms, people think its not about them, but subconsciously may recognize their own traits.  Karl never says "my doctor," or refers to his local Chinese restaurant.  So, instead of attacking an employee whose lack of urgency drives you insane, or throwing accusations of oppression into someone's face, we should find a right moment to talk about laziness and bullying in general.

4.  You can speak your mind and cover up your harshest statements with innocent humor.  Of course, this one is hard – not everyone possesses a sense of humor, but I found for myself that a smile alone goes a long way when you make severe statements.

5.  This is the hardest lesson to learn.  If you manage to unclog your mind of politically correct, pre-programmed bullshit, you can unlock free-thinking abilities that you didn't suspect were inside your head. 


 

CFO Folklore: My “Favorite” Questions


Ah, the Holidays!  They put you in the mood for remembrance.  Families get together and stories of past times and lives start pouring out.  My grandfather was a brilliant man of the WWII generation.  He died when I was a baby.  Hence, I cannot remember this myself, but I've been told quite few times about his main pet peeve: he couldn't stand what he called "idiotic" questions.   Apparently, I've inherited this familial trait.

His being the times way before the political correctness permanently  stifled us, he had the luxury to call things as he saw them.  Nowadays, I use more neutral words.  I call them nonsensical questions.  I even trained myself to ignore stand alone occurrences.  However, there are two questions that pervade my professional life.  As all pet peeves do, they cause undue frustration.

The first question is consistently asked by my subordinates and peers.  You see, unless I attend to a confidential business matter, I always keep my office door opened.  I believe it is good for employees' morale to see a CFO working as hard as I do. 

So, these people see me all day long attending to my scheduled tasks, addressing issues, solving problems.  I am consumed by work.  Yet, EVERY TIME one of them needs me and comes to my door, they ask me THE SAME question, "Are you busy right now?"  In response I want to scream, "Of course, I am busy.  Can't you see?" 

It doesn't mean that I am not available to discuss their problem if it is of higher priority, or scheduling them for a later time slot if it can wait.  But why do they have to ask that question?  At staff meetings, I teach them to approach this situation in a more sensible manner: come, don't ask the damn question, instead state your issue and let me decide if it requires immediate attention.  Some learn, but the rest just cannot help themselves.

The second question is similar but essentially different in its nature.  It's usually asked by the boss.  And, as we already discussed, there is nothing you can do, but to bite your tongue.  He has something on his mind, so he comes to your office.  Here it comes, "What are you doing right now?" 

The involuntary first reaction is, "What do you think?  I am doing nothing.  Just sitting here enjoying myself."  But he does not imply you are not working.  This is how their minds work: whatever is on his mind is the most important thing to him right now and in his opinion should be to you as well (even though you don't even know yet what it is).  This attitude renders your current preoccupation irrelevant.  Now, it is up to you to navigate the situation properly into the safe harbor.  Over the years, I've developed an arsenal of methods.  I am sure you have too, but if you need my help, please, don't hesitate to email.

Time Organization as Anti-Frustration Tool


Business strategy, financial plans, cash flow projections – obvious tasks in any CFO or Controller's routine.  These functions are integral parts of our job descriptions and inability to perform them would simply disqualify us as senior financial professionals.  No matter how sophisticated, at the end of the day they have to do with allocating limited resources over specified periods of time. 

Well, what about our very own personal intellectual resources? Are all of us capable to allocate them in an efficient manner?

Practically every single employer (in subconscious recognition of the responsibilities scroll's heftiness) feels obligated to mention multi-tasking, work-under-pressure, and tight-deadlines in their job ads for financial execs.  And yet, nobody ever asks during interviews about the candidates' actual time-management skills. 

It is very flattering to our professional class that bosses simply assume their present and future CFO's and Controllers to have their own self-organizing tools, but the sad truth is very few of them do.  They consistently spend long hours on a single task, while the day runs away from them leaving huge volume of unattended work behind, which over time may pile up into a mountain.  And it applies to other execs as well, but I don't care about their well-being in the context of this blog. 

To my fellow financial professionals in the small and mid-size companies, however,  I want to say three words: schedules, lists and schedules.  Yes, schedules two times – short-term and long-term.  I have briefly mentioned scheduling before in my post on prioritization (The Importance of Prioritization for CFOs and Controllers), but this topic is never exhausted. 

I want to emphasize that the value of time organization lies not only in the increased professional efficiency but, more importantly, in its ability to reduce job-related frustration and anxiety.  Schedules and lists create a framework for your multi-tasking and provide you with stability of a clear action plan.  They especially help those prone to experience anxiety about forgetting the "back burner" projects. 

Once the need for self-organizing tools is recognized, you will be capable to design your own.  And I believe that it is important for every CFO, Controller, etc. to develop their individual practical schedules and lists based on their actual business circumstances and preferences.

Just as a reference point let me share that, at the very minimum, I usually have the following lists: (1) functional breakdown of departments with tasks assigned to each group/person and their time frames;  (2) a list of mandatory daily functions; (3) a list of periodic reports with fixed dates, responsible parties and intended recipients (weekly, monthly, quarterly, annual); (4) a long-term list with projects that are not crucial to immediate commercial goals, but are necessary to bring the company to the next level, with tentative start dates.

Accordingly, at any given moment I have four schedules: (1) today's schedule, which I usually prepare previous night; (2) current and next weeks outlines; (3) current and next months highlights; (4) tentative 4-month plan.   

I would like to emphasize that FLEXIBILITY is a key: don't let yourself to be trapped into an obsessive rigidity.  Changes and diversions are to be expected and there is no reason to get worked up about them – after all, we live in a very fast-changing business world.

 


 

       

You Are Responsible for Your Own Emotional Control


There are two main reasons for my putting so much emphasis on the management of frustration and stress.  First of all, I consider this skill to be one of CFOs and Controllers' prerequisites for efficient functionality: if you don't get a grip on your own emotions you cannot manage the multitude of your tasks at the level that will satisfy your own high standards.  Secondly, this may be the only responsibility that you cannot delegate.  Whatever method of self-control and frustration release you use, you are the only one who can recognize the symptoms and initiate the process.

And in that respect I am in agreement with the recent article on AOL Health by Stephanie Twelto Jacob with a terribly corny title Happiness Roadblocks and a lot of new-age-y formulas that a sensible reader will be able to weed out easily.  I mean, even if you take Aristotle's thought about path to happiness as your initial thesis, it doesn't mean that you should tailor your entire article to fit the narrow interpretation of its language.

Shortcomings aside, I found four sensible points in this article that match my own concept of psychological self-management and fit perfectly into this blog's discussions of work-related frustration and anxiety.  Here are my interpretations:

1.  Choosing to expect the worst at all times in order to avoid disappointments (the policy I've been employing for years myself – guilty as charged) creates not only psychological, but also, through stress-related chemical reactions, physical effects on us.  Plainly speaking, it keeps our bodies in a constant adrenaline overdrive.

2.  I hear my colleagues talking all the time about someone else working at half the effort for twice as much money, having expense accounts, better insurances, larger bonuses, etc, etc.  Comparing your difficult life to somebody's supposed perfect existence creates unnecessary additional frustration.  Don't contrast and compare.  Most likely these people's lives are not as rosy as you perceive it.  Trust me – life is a difficult exercise for everybody.  More importantly, spending your emotional energy on this imaginary competition is a waste of your own valuable resources.

3.  Accepting the unfairness of life is the best defensive mechanism available to us. When things are not based on equality and justice it does not necessarily mean that you always loose.  My intended audience is supposed to consist of educated people in senior management and executive positions.  In comparison to people with the same intellectual capacity who were not able to go to college and graduate schools and be eligible to work in free-market society, we are not doing that bad even if we didn't have connections or luck to become multi-millionaires.

4.  Stop looking for substitution of contentment.  It is not your boss's, your subordinates', your spouse's, your kid's or your new purchase's job to make you feel better about yourselves.  Nobody but yourself truly knows who you are and what your value is.  It is you who possess that intelligence, that expertise, that volume of knowledge and you know your worthiness.  Be proud of your own achievements.