GrowCFO Show
#243 How To Get Your Team Finance Fit: Why Finance Must Evolve Now with Melanie Coeshott, GrowCFO Facilitator
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In this insightful episode of The GrowCFO Show, host Kevin Appleby welcomes Melanie Coeshott, a GrowCFO Facilitator, to discuss the concept of “Finance Fit” – a framework designed to help finance teams prepare for their next evolutionary chapter. Melanie introduces her innovative F-I-T mnemonic, which stands for Future-oriented, Innovative, and Thriving, providing a structured approach for finance professionals to adapt to changing business landscapes.
The conversation explores how finance teams can shift from their traditional backward-looking roles to become more proactive, creative partners in business decision-making. Kevin and Melanie discuss the challenges finance professionals face in making this transition, including mindset barriers, change fatigue, and the need for leadership support. They emphasize that becoming “Finance Fit” requires not only technical skill development but also personal growth, relationship building, and finding fulfillment in one’s work.
Key topics covered:- The “Finance Fit” concept represents a significant mindset shift for finance professionals, requiring them to balance their traditional reporting responsibilities with forward-looking strategic contributions
- Innovation in finance doesn’t necessarily mean radical changes but can involve small, incremental improvements that collectively drive significant value for the business
- Finance professionals often struggle with “change fatigue” and need permission from leadership to experiment, fail, and learn from their experiences
- Building strong relationships across the organization is crucial for finance teams to effectively contribute to business transformation
- Personal development and job satisfaction are essential components of the “Thriving” element, with tools like StrengthsFinder helping finance professionals identify and leverage their natural talents
Timestamps
- 0:04:45 Introduction to the “Finance Fit” concept and explanation of the F-I-T mnemonic
- 0:12:30 Discussion of the challenges finance professionals face in becoming more future-oriented
- 0:18:15 Exploration of innovation in finance and overcoming resistance to change
- 0:27:45 The importance of thriving as finance professionals through resilience and relationship building
- 0:35:20 Strategies for improving job satisfaction and playing to strengths in finance roles
- 0:42:32 Next steps for developing and implementing the Finance Fit framework
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