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Home»Business»Finance
Finance

Tips for Managing a Successful Finance Team Remotely

April 9, 2024No Comments2 Mins Read
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Mara Garcia, the CFO of Phonexa, a digital marketing company based in Glendale, California, has successfully transitioned to remote leadership after moving across the country due to her husband’s Air Force duties. Despite the challenges of leading a financial team from afar, Mara has found ways to thrive in this new workflow through determination, effective communication, and internal innovation. With quarterly visits to the headquarters, fostering collaboration, and consistent communication, Mara has uncovered valuable lessons and experiences that have allowed her team to not only make remote work successful but also to excel in it.

One of the key lessons Mara has learned is the importance of collaboration and purpose, rather than pride, in driving the team forward. By understanding the “why” behind their work and focusing on agile, collaborative processes, the team has been able to stay connected and motivated, regardless of their physical distance from each other. Reliable processes, consistent communication, and accountability have been the foundation for the team’s success in managing the company’s finances seamlessly with efficiency and effectiveness.

Maintaining connection with the team is crucial for a remote leader, as it can be easy to lose connectivity even if everyone works in the same location. Simple communication methods, weekly meetings, and team outings during Mara’s visits to headquarters have been instrumental in keeping the team connected and engaged, fostering a positive team culture and sense of belonging. Crucial conversations, involving high stakes, strong emotions, and differing opinions, have also been key in addressing performance issues, personality conflicts, and other challenges within the team, ensuring transparency, trust, and reliability among team members.

Amidst the challenges of relocation and remote leadership, Mara emphasizes the importance of purpose and collaboration in steering a finance team to success. By fostering connections, embracing crucial conversations, and maintaining a balance of communication, Mara and her team have not only thrived but have also transformed remote work into a blueprint for success for teams of all sizes and missions. This article serves as a reminder that leadership in a remote setting requires adaptability, effective communication, and a strong focus on collaboration and purpose.

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