5 Tips for New Finance Managers: Part 1

New finance managers are typically individuals who are used to a high level of professional success and have been rewarded with a promotion into management.

But being a general can be quite different from being a soldier in the ranks, and the demands for a newly minted manager can seem quite overwhelming.

Often plagued with more questions than answers, new finance managers must balance competing priorities, motivate their team and engage key stakeholders in relevant discussions designed to move the company forward. If reading that list of role requirements makes you break into a cold sweat, fear not, our two-part blog will offer you timely and relevant tips to help you excel in your new role.

Tip #1: Find a Mentor

The learning curve for new finance managers is a sharp one. To ensure that you don’t drive off the road, connect with a mentor who can help you accelerate your learning process. Whether informal or formal, a mentor is someone you can speak to about potential decisions and strategy. Ideally, your mentor would be someone who is well-established in the company with the attendant positive reputation. He or she will understand company objectives and politics, guiding you through the potentially dangerous waters that face any new manager. Who knows? When it comes down to it, your mentor may be the advocate you need to move your career to the next level.

Tip #2: Have a “Team First” Mentality

One way to establish your credibility with your team and your boss is to score some early team victories. Whether it’s finding cost efficiencies, or making strategic recommendations to increase revenue, an early win solidifies your position as a forward thinking, team-based leader. And remember, celebrate your team’s successes. They will respond by working even harder for you.

Watch for three more tips on becoming an exceptional finance manager later this week.

Let us know what you think! At Clarity Recruitment, we’re always interested in hearing from accounting and finance professionals like yourselves, who are ready for new, exciting opportunities that can take their careers to the next level. And be sure to follow us on Twitter (@clarityrecruits) and connect with us on LinkedIn and Facebook for more great tips and advice.