DO NOT MISS OUT! AMAZING THINGS ARE COMING!

Financial Fluency NewsletterĀ 

Enhancing your financial acumen with my carefully curated newsletter, designed to empower professionals.

Financial Fluency #004 - Junior vs Experienced Business Managers - How to Level Up

Feb 24, 2024

Junior vs Experienced Business Managers - How to Level Up

 

 Read time: 4 mins

 

Today, I’m going to share some of the key differences I frequently observe between recently promoted and experienced business managers.

 

Over the past 10 years as a management consultant, I have worked with countless managers, from C-Suite and Board to operational / front line staff members. In my opinion progressing from junior to senior management is incredibly challenging and is something I frequently observed people struggle with (and fail).

 

"The hardest person you will ever lead is yourself" - Bill George 

 

Many struggle at this point in their career in my opinion because the skillset, perspective and approach is fundamentally different. Many people struggle to adjust to being output focused rather than input based. 

 

Here is the top 5 categories, from my observations:

 

  1. Strategic Thinking: Junior managers often focus on day-to-day tasks and immediate results, whereas senior managers think strategically, considering the long-term goals and vision of the organization. To progress your career, start developing your strategic thinking skills by broadening your perspective, analyzing industry trends, and aligning your decisions with the overall strategic objectives of your organization. 
  2. Decision-Making: Junior managers tend to seek guidance and approval from their superiors before making decisions. In contrast, senior managers are expected to make informed decisions independently. To level up, enhance your decision-making abilities by gathering relevant data, evaluating risks and potential outcomes, and developing confidence in your judgment. Seek opportunities to make autonomous decisions within your scope of responsibility.
  3. Leadership and Influence: Junior managers primarily focus on managing their own tasks and teams, while senior managers must demonstrate strong leadership skills and influence people at all levels of the organization. To advance your career, start honing your leadership abilities by taking on cross-functional projects, mentoring junior colleagues, and actively seeking opportunities to collaborate with senior leaders.
  4. Strategic Communication: Junior managers often communicate within their immediate team or department, while senior managers must effectively communicate across various levels and departments. To progress, improve your communication skills by tailoring your messages to different audiences, practicing active listening, and learning to articulate complex ideas in a clear and concise manner (more on this in a future newsletter).
  5. Problem-Solving: Junior managers usually focus on solving immediate operational issues, while senior managers tackle complex problems with broader organizational implications. To elevate your career, start developing your problem-solving skills by taking a holistic approach, considering multiple perspectives, and evaluating the potential impact of your proposed solutions on the organization as a whole.

 

Here is what I recommend:

 

  1. Seek Mentorship: Find a mentor who has successfully navigated the path from junior to senior management. Learn from their experiences, seek their guidance, and leverage their insights to accelerate your career growth.
  2. Continuous Learning: Stay updated with industry trends, best practices, and emerging technologies. Invest in your professional development through courses, workshops, conferences, and relevant certifications.
  3. Expand Your Network: Build meaningful relationships with professionals in your field, both within and outside your organization. Networking can open doors to new opportunities, provide valuable insights, and help you stay informed about industry advancements.
  4. Take on Stretch Assignments: Volunteer for challenging projects or assignments that stretch your skills and expose you to new experiences. Embrace opportunities to step outside your comfort zone and demonstrate your ability to handle increased responsibility. Taking on stretch assignments does not mean you can forget about your day-to-day tasks. Taking on assignments + successfully managing the day-to-day is the real target here.
  5. Develop your Emotional Intelligence: Emotional intelligence plays a crucial role in effective leadership. Enhance your self-awareness, empathy, and interpersonal skills to build strong relationships, manage conflicts, and inspire others. Do not be afraid of difficult conversations, be friendly but not friends.

 

Progressing from junior to senior management requires continuous growth, adaptability, and a commitment to self-improvement. By developing the key skills and traits of experienced managers, you can position yourself for long-term success in your career.

 

Keep striving for excellence and focus on the journey not the destination.

 

I hope you found this helpful. If you haven't already, feel free to subscribe and follow me on LinkedIn for weekly actionable tips.

 

FINANCIAL FLUENCY NEWSLETTER

Want Helpful Finance Tips Every Week?

Ā 

You're safe with me. I'll never spam you or sell your contact info.