CFG's finance development tool celebrates its tenth birthday this year. Simon Hopkins - author of The Finance Journey - explains why it's more important than ever and shares a call to action...
Ten years ago – in February 2014 – CFG officially launched its development tool The Finance Journey.
We had trialled it at a few events during 2012/13 (including introducing it to the first cohort of the Inspiring Financial Leadership programme), but the official publication a decade ago marked the first time it was available in real-time to all members.
As we reflected in the second edition, published in 2021, The Finance Journey goes back to a few years before that and, indeed, was created for use in a different sector.
However, it has now found its natural home in the world of charity finance...
Going above and beyond
The Finance Journey arose as a response to the context of the time. Existing charity business models were becoming more challenged and stretched. It was clear that the sector needed a financial leadership community that could move beyond the introverted technical aspects of the job to providing genuine strategic leadership at a more holistic level.
This mirrored and complemented the sustained push to change the narrative around charity finance. It’s no accident that this last decade has been one where we have campaigned hard for a rethink to embrace the notion of leadership from finance.
Ten years on, the need for a development tool for finance professionals that helps them break the tired old mould of the ‘back office’ has never been greater.
Today, The Finance Journey is more relevant than ever!
Ten years on
The impact of the pandemic on financial resources and resilience, and the current financial crisis have been a dramatic reminder that the old assumptions about finance aren’t necessarily safe.
There are cyclical and structural changes in play that need brave and proactive responses relating to economic resources – AI, millennial attitudes, regulation and so many more.
The regular analysis we hear about how many charities are facing existential crises, force us to think radically about money.
And trying to do this without a genuinely extrovert finance community that is at the centre of strategic decision-making would be an accident waiting to happen.
Since we launched The Finance Journey, we’ve seen it develop. A number of charities are using it to give shape their finance team development plans.
It has been extended by a small but vocal group of practitioners to drive things like resource allocation and wider financial literacy outside the finance function. And it has been fully integrated into CFG's Inspiring Financial Leadership programme, including using it to undertake a longitudinal analysis of the impact of the programme in 2021.
Into the future
At its heart, though, its primary purpose remains to give the finance community a simple structure or framework for the necessary and vital work to position ourselves differently.
Context remains critical – it is no exaggeration to say that many crucial societal challenges can only be met by a financially resilient charity sector that can think and act differently.
The Finance Journey was, and is, designed with that aim in mind.
What’s next?
A call to action…
Since the publication of The Finance Journey's second edition, CFG has been looking at ways in which it can be developed further.
CFG wants to hear from you about how you'd like to see it developed further. We've developed a short questionnaire to gather insights and ideas. Even if you haven't used The Finance Journey before, we'd still like your input! And if you have used it, your insights will be invaluable.
Please complete the questionnaire today and feel free to share it with colleagues who are also on a Finance Journey.
Any questions? Please email the team on the address below...
Join our focus group
CFG is also looking for any members who are using the tool, and who would be interested in being part of a wider user/oversight group, to get in touch. Please email the team to express your interest.
Here's to the next 10 years of our Finance Journey!