Written by Heather L. Cole, July 8th, 2024
For over 20 years, I have navigated the turbulent waters of running my software reselling business, Lodestar Solutions. With each year that passed, I wrestled with self-doubt, fear, and anxiety. Hello, I'm Heather Cole, and I am a long-time sufferer of impostor syndrome. You know that insidious little voice in your head that whispers, "You're not good enough," "What do you think you're doing?" or "They'll find out you're a fraud." For me, that voice is a frequent visitor, particularly when I’m pushing myself toward new goals or challenges.
The Voice
Interestingly, that voice seems to take a vacation when we’re relaxing or indulging in a Netflix binge. But the moment we start aiming higher and stepping outside our comfort zones, it reappears with a vengeance. This phenomenon is particularly pronounced for many professionals in the Office of Finance, where the pressure and visibility are immense. I recall a conversation with a seasoned CFO in his 60s, who confessed that every time he faced the CEO, he felt like a small child, unworthy and insignificant. Can you relate?
Affecting Corporations
Impostor syndrome isn't just a personal issue; it's a corporate one. It silently chips away at the bottom line by stifling innovation and collaboration. When we hold back our ideas out of fear of judgment or ridicule, we rob our teams and organizations of valuable insights and opportunities for improvement. The best ideas often come from those on the front lines, but if we haven’t created a culture that encourages them to speak up, we're failing as leaders.
How it Appears
This self-doubt also manifests in other ways. Ever notice how we often claim to be "too busy" to take the next step in our careers, whether it's pursuing a new credential, engaging a coach, or learning a new skill? This busyness can be a mask for self-doubt, a way to avoid potential failure. Another common trait is the endless quest for more knowledge, believing we need just one more course or credential before we can take action. But the truth is, knowledge is not power; action is power. We must transform learning into doing and start contributing actively.
Impostor syndrome not only hinders personal growth but also organizational progress. Imagine the lost opportunities for innovation and problem-solving when team members hold back. As leaders, it's crucial to foster an environment where everyone feels confident to share their ideas and take bold steps forward.
Last Call
To those who resonate with these struggles, I invite you to join my final webinar of the year on Impostor Syndrome this Thursday at 2 p.m.
Overcoming Imposter Syndrome for Executives: Strategies for Success
Thursday, July 11th, 2024
2:00 – 3:00 PM ET – NO REPLAYS
This will be my last public Imposter Syndrome Webinar this year, and the recording will not be publicly available, however, if you are one of my Executive Coaching clients you will have access to it.
Why is this my last one? Not because I don’t think it’s important, as I think this challenge is eroding the bottom lines of many companies. But, at Lodestar Solutions I am shifting my focus to helping finance teams revamp their budgeting processes for greater accuracy and alignment with reality.
Next Chapter – Revamping Budgeting
After 20 years of selling and implementing budgeting software I am still frustrated by the fact that corporations spend tons of money on software and consulting to “fix their budgeting process”, and a year later still struggle with the fact that although they can put the budget together faster, it still does not reflect reality. You see many companies just rebuild what they had in Excel with a better tool like IBM Planning Analytics.
Candidly I have thought about this challenge for years, but my little voice in my head said, “Who do you think you are telling major corporations how to revamp their broken budgeting process?” I have decided it is time to take action! I have created a framework for revamping the budgeting process regardless of the software you use. I may fail completely. Maybe no one needs help overhauling and navigating the politics of change, but I will hold my head high that I tried. And I hope many of you follow this new endeavor.
To stay up to date on what's next for Lodestar, and to get more details on our future Webinars, be sure to check out all of our Blogs!
Message to You!
Don’t let self-doubt hold you back any longer. Take action, share your ideas, and join us to conquer impostor syndrome once and for all. Let's move from surviving to thriving, both personally and professionally.
