top of page
  • Writer's picturePrivatal

Achieving Success as a New CFO: Strategies for Your First 100 Days

Welcome to the first 100 days of your new CFO role. Whether you are starting a new role, moving to a new company or industry, or embarking on your first job after graduation, the first 100 days can set the tone for the rest of your career.


In this guide, we will provide you with a framework to make the most of your first 100 days on the job. We will discuss how to establish yourself in the company, build relationships with colleagues, and make a positive impact in your role. We will also provide tips on how to avoid common mistakes and pitfalls that can derail your success.


The First 30 Days


The first 30 days on the job are critical for establishing yourself and building credibility with your colleagues. During this time, you should focus on the following:


Learn as much as possible about your role and the company.

The first 30 days are a time for learning. You should read through your job description, review any training materials provided by the company, and familiarize yourself with the company’s mission, vision, and values. You should also take the time to get to know your colleagues, especially those in your department or team.


Set clear goals for your first 90 days.

Setting clear goals for your first 90 days will help you stay focused and ensure that you are making progress towards achieving your objectives. Your goals should be specific, measurable, achievable, relevant, and time-bound (SMART). Examples of SMART goals might include:


Complete a specific project or task within a set timeframe

Develop a specific skill or competency within a set timeframe

Meet with all members of your team or department within a set timeframe


Build relationships with your colleagues.

Building relationships with your colleagues is critical for success in any job. You should make an effort to get to know your colleagues on a personal level, as well as a professional level. This will help you establish trust and rapport with your colleagues, which will be important as you work together to achieve common goals.


Be proactive and take initiative.

During your first 30 days on the job, it is important to be proactive and take initiative. Look for opportunities to contribute to the company’s goals and objectives, even if they fall outside of your job description. This will demonstrate your commitment to the company and your willingness to go above and beyond to contribute to its success.


The Second 30 Days


The second 30 days on the job are a time for building on the foundation you established during your first 30 days. During this time, you should focus on the following:


Seek feedback from your colleagues.

Seeking feedback from your colleagues is critical for your professional development. It will help you identify areas where you need to improve, as well as areas where you are excelling. You should ask your colleagues for feedback on your work, your communication style, and your overall performance.


Continue to build relationships with your colleagues.

Building relationships with your colleagues is an ongoing process. You should continue to make an effort to get to know your colleagues on a personal level, as well as a professional level. This will help you establish trust and rapport with your colleagues, which will be important as you work together to achieve common goals.


Focus on delivering results.

During your second 30 days on the job, it is important to focus on delivering results. You should be working towards achieving the goals you set for your first 90 days, and making progress towards achieving your longer-term goals. If you encounter any obstacles or challenges, you should seek help from your colleagues and work together to overcome them.


Demonstrate your value to the company.

During your second 30 days on the job, you should be looking for opportunities to demonstrate your value to the company. This could include taking on additional responsibilities, volunteering for projects or initiatives, or identifying ways to improve processes or procedures. By demonstrating your value to the company, you will build credibility and increase your chances of being viewed as a valuable asset to the team.


The Final 40 Days


The final 40 days on the job are a time for solidifying your position within the company and preparing for the future. During this time, you should focus on the following:


Reflect on your accomplishments.

Take the time to reflect on what you have accomplished during your first 90 days on the job. This will help you identify areas where you excelled, as well as areas where you can improve. Use this reflection to set new goals for the future and to continue to grow in your role.


Continue to seek feedback.

Feedback is critical for professional growth and development. Continue to seek feedback from your colleagues on your performance, your communication style, and your overall impact on the team. Use this feedback to identify areas where you can improve and to make adjustments as needed.


Establish yourself as a valuable member of the team.

During your final 40 days on the job, you should focus on establishing yourself as a valuable member of the team. This can include taking on additional responsibilities, sharing your knowledge and expertise with colleagues, and volunteering for projects or initiatives that are outside of your job description. By establishing yourself as a valuable member of the team, you will increase your chances of being viewed as an essential asset to the company.


Plan for the future.

Finally, during your final 40 days on the job, you should begin to plan for the future. This can include setting new goals for yourself, identifying areas where you want to grow and develop, and exploring opportunities for advancement within the company. By planning for the future, you will be able to continue to grow and develop in your role, and position yourself for success in the years to come.


Common Mistakes to Avoid


While the first 100 days on the job can be an exciting and rewarding time, there are also common mistakes that many people make that can derail their success. Here are some mistakes to avoid:


Failing to communicate.

Communication is critical for success in any job. If you fail to communicate effectively with your colleagues, you may miss important information or fail to establish trust and rapport with your team. Make sure that you are communicating clearly and effectively with your colleagues, and that you are listening carefully to what they have to say.


Overpromising and underdelivering.

During your first 100 days on the job, it is important to establish credibility and build trust with your colleagues. One way to do this is to avoid overpromising and underdelivering. If you promise to deliver something, make sure that you follow through on your commitment.


Failing to build relationships.

Building relationships with your colleagues is critical for success in any job. If you fail to build relationships with your colleagues, you may miss out on important information or fail to establish trust and rapport with your team. Make sure that you are taking the time to get to know your colleagues, and that you are building relationships based on trust and mutual respect.


Failing to adapt.

The first 100 days on the job can be a time of change and adjustment. If you fail to adapt to new situations and challenges, you may struggle to succeed in your role. Make sure that you are flexible and adaptable, and that you are willing to learn and grow in your role.


Conclusion


The first 100 days on the job are critical for establishing yourself, building credibility with your colleagues, and making a positive impact in your role. By following the tips and strategies outlined in this guide, you can set yourself up for success and position yourself for growth and advancement within the company. Remember to focus on learning, building relationships, setting goals, delivering results, and demonstrating your value to the company. Also, be sure to avoid common mistakes such as failing to communicate effectively, overpromising and underdelivering, failing to build relationships, and failing to adapt to new situations and challenges.


With a little bit of effort and dedication, you can make the most of your first 100 days on the job and set yourself up for long-term success in your career. Good luck!


Your Career


To discuss your future in private equity, reach out to us here. We can provide guidance on factors to consider when assessing a new role, such as the firm's size and reputation, investment strategies and sectors of focus, level of responsibility and autonomy, opportunities for career growth, compensation package, and the culture and values of the firm.


About Privatal


Privatal are specialists in Executive and Senior finance + M&A Recruitment for Private Equity Backed businesses. We specialise in recruiting private equity portfolio companies.


Despite only being on the market for 2 years, we've grown to 22 PE specialists & won the 'Best Private Equity Recruitment Agency' at the UK Business Awards in 2022.


To tap into our huge portfolio of Private Equity experienced portfolio talent, reach out to us here.

Comments


bottom of page