The Need for Ownership

Social media platforms are powerful tools for reaching an audience, but they come with limitations. Algorithms change, accounts can be suspended, and the content you create is ultimately hosted on someone else's platform. By creating my own website, I ensure that my content remains accessible and under my control, free from the whims of external entities.

Building a Lasting Presence

A personal website serves as a digital home base—a place where I can showcase my work, share my thoughts, and connect with my audience on my own terms. It provides a level of professionalism and permanence that social media cannot match.

A Platform for Authentic Expression

This website allows me to present my ideas and values without compromise. I can design the user experience, control the narrative, and ensure that my message is delivered exactly as intended.

Conclusion

Launching this website is more than just a technical endeavor; it's a statement of independence and a commitment to authenticity. In a world where digital presence is increasingly important, owning your platform is not just an option—it's a necessity.

Economic uncertainty creates both challenges and opportunities. As financial leaders, our approach to navigating these waters can determine organizational resilience and long-term success. In my 20+ years as a financial executive, I've witnessed multiple economic cycles and learned that the most successful organizations are those led by CFOs who balance prudence with strategic vision.

The Evolving Role of the Modern CFO

Today's CFO must be more than a numbers expert. We are strategic partners to the CEO, data-driven advisors to the board, and champions of organizational transformation. During periods of uncertainty, this multifaceted role becomes even more critical.

Beyond the Numbers

While financial expertise remains fundamental, today's CFO must look beyond spreadsheets to provide strategic guidance during turbulent times. This means developing a deep understanding of:

• Market dynamics and competitive positioning
• Customer behavior and revenue drivers
• Operational efficiency and cost structures
• Technology trends impacting the industry
• Talent acquisition and retention strategies

Three Pillars of Financial Leadership in Uncertainty

Three key areas of focus have consistently proven effective in navigating economic challenges:

1. Risk Management and Scenario Planning

Effective risk management isn't about predicting the future—it's about preparing for multiple possible futures. I recommend maintaining at least three scenario models:

• Base case: Most likely scenario based on current trends
• Optimistic case: Growth opportunities if conditions improve
• Stress case: Actions needed if conditions deteriorate significantly

Each scenario should include specific triggers that prompt action, detailed financial projections, and predetermined response strategies. This proactive approach enables rapid decision-making when circumstances change.

2. Strategic Resource Allocation

During uncertain times, every dollar matters. Effective resource allocation requires:

• Zero-based budgeting: Justifying each expense rather than relying on historical spending
• Investment prioritization: Focusing on initiatives with clear ROI or strategic importance
• Cost optimization: Identifying efficiency opportunities without compromising core capabilities
• Capital preservation: Maintaining adequate liquidity and financial flexibility

The key is making thoughtful choices that protect the organization's future while maintaining operational effectiveness today.

3. Stakeholder Communication and Confidence-Building

Transparent, consistent communication builds trust with stakeholders—from the board and investors to employees and customers. During uncertainty, I've found these practices invaluable:

• Regular updates with honest assessments of challenges and opportunities
• Clear explanations of the financial strategy and its rationale
• Consistent messaging across all stakeholder groups
• Proactive engagement rather than reactive responses

Building Financial Resilience

Organizational resilience requires both financial flexibility and prudent management. Consider these principles:

"The best financial leaders prepare for uncertainty not by predicting the future, but by building adaptability into their organizations."

Creating a Forward-Looking Finance Function

To lead effectively through uncertainty, finance teams must evolve from backward-looking reporters to forward-looking advisors:

• Upgrade financial modeling capabilities for rapid scenario analysis and sensitivity testing
• Develop leading indicators specific to your industry and organization that signal change before it impacts financial results
• Invest in digital transformation of finance processes to increase speed, accuracy, and analytical capability
• Build a finance team with both analytical and strategic capabilities who can partner effectively across the business

Maintaining Operational Excellence

Even during crisis periods, maintaining strong financial controls and reporting accuracy is non-negotiable. This foundation enables:

• Confident decision-making based on reliable data
• Stakeholder trust in financial information
• Early detection of problems or opportunities
• Regulatory compliance and risk mitigation

Key Strategies for Success

Based on my experience leading organizations through multiple economic cycles, here are proven strategies:

1. Build strategic cash reserves during good times to provide flexibility during challenging periods
2. Diversify revenue streams to reduce dependence on any single product, customer, or market
3. Maintain strong banking relationships that provide support and flexibility when needed
4. Invest in technology that improves efficiency and provides better data for decision-making
5. Develop talent continuously so your team has the capabilities needed for any situation

Looking Forward

The most successful organizations during uncertain times are those whose financial leaders balance prudence with strategic vision, leveraging data to navigate confidently through changing conditions. While we cannot control external economic forces, we can control how we prepare for and respond to them.

As CFOs, our role is to provide the financial leadership, strategic insight, and operational discipline that enables our organizations not just to survive uncertainty, but to emerge stronger and better positioned for future success.

Frequently Asked Questions

Q: How often should scenario planning be updated during uncertain economic times?

A: I recommend reviewing and updating scenario models monthly during periods of high uncertainty, or whenever significant new information emerges. The key is maintaining current, actionable plans rather than static documents.

Q: What's the most important financial metric to monitor during economic uncertainty?

A: While many metrics matter, cash flow and liquidity are paramount. Understanding your cash runway, working capital needs, and sources of liquidity provides the foundation for all other strategic decisions.

Q: How can CFOs balance cost reduction with maintaining long-term capabilities?

A: Focus on efficiency rather than blanket cuts. Analyze spending through a zero-based approach, prioritize investments that support strategic objectives, and protect capabilities critical to competitive advantage. Sometimes strategic investments during downturns position you for outsized success when conditions improve.

Want to discuss financial leadership strategies for your organization? Connect with me on LinkedIn or visit my expertise page to learn more about my approach to financial transformation.

Related Articles:

• Leading Through Financial Transformation
• CFO of the Year 2023: Recognition for Excellence

Change is the only constant in business. As leaders, our ability to navigate transitions effectively determines both our success and the success of our organizations. Throughout my career as a CFO, I've led teams through major transformations—from technology implementations to organizational restructuring—and learned that successful change leadership is both an art and a science.

Understanding the Human Element

People don't resist change; they resist being changed. The best leaders recognize that organizational transitions are deeply personal journeys for team members. Each person processes change differently based on their experience, personality, and role in the organization.

The Psychology of Change

Research shows that people experiencing significant organizational change go through predictable emotional phases:

1. Shock and denial - Initial resistance to the news
2. Anger and resistance - Frustration with the disruption
3. Exploration and acceptance - Beginning to engage with new ways
4. Commitment - Full adoption and advocacy

Understanding these phases helps leaders provide appropriate support at each stage.

Key Strategies for Leading Through Transitions

1. Communicate with Transparency

Share both the challenges and the vision. People can handle difficult truths better than uncertainty. When communicating change:

• Be honest about both opportunities and challenges
• Explain the "why" behind decisions
• Share the timeline and what to expect
• Provide context about how this fits the bigger picture
• Repeat key messages through multiple channels

Transparency builds trust, which is essential during periods of uncertainty.

2. Listen Actively

Make space for concerns and feedback. Some effective approaches include:

• Regular town halls or team meetings for Q&A
• One-on-one conversations with key stakeholders
• Anonymous feedback mechanisms for sensitive concerns
• Change champion networks who can surface issues
• Stay interviews to understand employee sentiment

The best insights often come from front-line team members who see challenges and opportunities that leadership might miss.

3. Acknowledge Losses

Change often involves letting go of the familiar—comfortable processes, established relationships, or known ways of working. Acknowledging these losses shows empathy and helps people move forward:

• Recognize what was valuable about the old ways
• Give people time to adjust emotionally
• Create rituals that mark transitions
• Share stories that honor the past while embracing the future

You can't rush people through grief, even organizational grief.

4. Celebrate Small Wins

Recognize progress along the way. Major transformations take time, and momentum depends on celebrating milestones:

• Identify and publicize quick wins early
• Acknowledge teams and individuals who exemplify desired behaviors
• Share success stories that illustrate benefits
• Create visible progress indicators
• Thank people for their flexibility and effort

Celebration reinforces positive change and maintains energy during long transformations.

Building a Change-Ready Culture

Organizations that thrive during transitions have cultures that embrace learning and adaptation. As leaders, we can cultivate this mindset through:

Creating Psychological Safety

Teams need to feel safe taking risks, asking questions, and admitting mistakes. This requires:

• Modeling vulnerability as a leader
• Responding constructively to problems and failures
• Encouraging experimentation and learning
• Avoiding blame when things don't go as planned

Developing Adaptive Capabilities

Help your team build skills for navigating change:

• Cross-training to increase flexibility
• Learning opportunities in new technologies and approaches
• Exposure to different parts of the business
• Stretch assignments that build confidence
• Mentoring from those who have successfully navigated change

Empowering Decision-Making

Push authority down to those closest to the work:

• Clarify decision rights and boundaries
• Provide frameworks for making good decisions
• Trust team members to solve problems
• Review outcomes to learn, not to punish
• Recognize and reward sound judgment

"The most successful leaders approach change not as something to manage, but as something to inspire."

Practical Leadership Actions

In the Planning Phase

• Involve diverse perspectives in planning to identify potential issues
• Identify change champions at all organizational levels
• Develop detailed communication plans with targeted messages for different stakeholders
• Anticipate resistance and plan how to address it
• Secure adequate resources including time, budget, and people

During Implementation

• Maintain visible sponsorship through regular engagement
• Monitor progress closely using both quantitative and qualitative measures
• Adjust course quickly when you encounter problems
• Over-communicate status, successes, and setbacks
• Stay accessible to team members at all levels

After Initial Implementation

• Sustain focus through the critical adoption period
• Address regression quickly when people slip back to old ways
• Embed changes in systems, processes, and culture
• Capture lessons learned for future initiatives
• Recognize and celebrate successful adoption

Common Pitfalls to Avoid

Through experience, I've learned to watch out for these common mistakes:

1. Underestimating the timeline - Real change takes longer than you think
2. Declaring victory too early - Implementation isn't the same as adoption
3. Ignoring middle management - They're critical to cascading change
4. Focusing only on process - People and culture matter more than systems
5. Forgetting business as usual - Don't let core operations suffer
6. Losing momentum - Maintain consistent energy throughout the journey

Measuring Success

When team members understand both the "why" and "how" of change, resistance diminishes and engagement grows. Track these indicators:

Leading Indicators:

• Employee engagement scores
• Adoption rates of new behaviors/systems
• Feedback sentiment
• Issue resolution time
• Change champion effectiveness

Lagging Indicators:

• Performance improvements
• Efficiency gains
• Quality metrics
• Employee retention
• Business results

Next Steps for Leaders

As you lead your team through change:

• Assess your team's readiness for change using surveys and conversations
• Identify potential resistance points early and develop mitigation strategies
• Create a communication strategy that addresses concerns proactively
• Develop metrics to track both progress and sentiment
• Build your change coalition with champions throughout the organization
• Invest in capability building through training and support

Remember that successful change leadership isn't about forcing compliance—it's about inspiring commitment to a shared future. The organizations that thrive aren't those that avoid change, but those that build the capability to navigate it continuously.

Conclusion

Leading through change is one of the most challenging and important responsibilities of any leader. By focusing on people, maintaining transparent communication, and building organizational capability, we can guide our teams successfully through transitions while positioning them for future success.

The key is approaching change not as a project to complete, but as an ongoing journey of growth and adaptation. When we do this well, change becomes not something our teams endure, but something they embrace as an opportunity for improvement and innovation.

Frequently Asked Questions

Q: How do you maintain team morale during difficult organizational changes?

A: Maintain morale through transparent communication, involving team members in solutions, celebrating small wins, and showing genuine appreciation for people's flexibility and effort. Most importantly, listen to concerns and take meaningful action when possible.

Q: What's the right pace for implementing organizational change?

A: Balance urgency with sustainability. Moving too fast creates burnout and poor adoption; moving too slow loses momentum and credibility. I typically plan for 12-18 months for major transformations with clear milestones every 90 days.

Q: How do you deal with persistent resisters to change?

A: First, understand the root cause of resistance—often it's fear, lack of information, or legitimate concerns. Address these through conversation, involvement, and support. If resistance persists despite genuine efforts to address concerns, you may need to make difficult decisions about fit.

Want to discuss change leadership in your organization? Visit my expertise page or connect with me on LinkedIn.

Related Articles:

• Financial Leadership in Uncertain Times
• CFO of the Year 2023

Presenting Organization: Wichita Business Journal's CFO Awards 2023

Lesley Hazleton, Chief Financial Officer of Cox Machine Inc., was honored as one of Wichita's top CFOs in the 2023 CFO Awards.

The annual awards program, presented by Wichita Business Journal, recognizes outstanding financial leaders in the region. The 2023 awards were presented at a luncheon on January 12, 2023, at the Hyatt Regency Wichita. With this being the 14th year of the program, over 230 financial leaders have been recognized.

Award Significance and Selection Criteria

The CFO of the Year award emphasizes the crucial role of financial executives. Honorees are recognized not only for managing financial health but also for crafting a successful long-term vision for their companies.

The selection process is independent and based entirely on merit, professional achievements, and contributions to the local community.

Lesley Hazleton's Professional Achievements

With over two decades of experience in finance, Hazleton began her career at PriceWaterhouse (PwC) before taking on roles at Corning Inc. and Goodrich Actuation Systems in the UK. Back in the U.S., she further honed her expertise at Elbit Systems of America and FreeFlight Systems.

In August 2020, she joined Cox Machine, Inc. as CFO, where she has applied her skills in software integration, lean six sigma, and process improvement to drive growth during a period of rapid expansion.

Beyond her corporate role, Hazleton serves as a Trustee on the board of the Kansas Children's Service League Foundation, underscoring her commitment to community service.

Media Coverage and Announcements

The award was widely publicized through the Wichita Business Journal, which featured announcements on December 28, 2022, followed by detailed profiles after the awards event in January 2023.

These articles highlighted Hazleton's background, leadership philosophy, and the significant role of CFOs in steering long-term business success.

A Personal Note

Winning the CFO of the Year Award in Wichita has been one of the most rewarding experiences of my career. It's not just an acknowledgment of professional success, but also a testament to the passion and resilience required to thrive in the fast-paced world of finance.

In this post, I'd like to share my journey, the lessons I've learned, and the moments that have shaped me into the leader I am today.

How I Found My Calling in Finance

My journey in finance began unexpectedly. I took an accounting class in high school and quickly discovered that I had an aptitude for numbers. Although what I learned was merely the basics of bookkeeping, I fell in love with the underlying theories. I realized early on that solving complex financial challenges was not only stimulating but deeply fulfilling.

Over the years, my passion for finance has grown through hands-on experience in public accounting, consulting, and manufacturing. Every step in my career reinforced that true problem solving lies at the heart of effective financial management.

The Role of Mentorship

One pivotal moment in my career was working with Steiner Eberle, the VP of Marketing at Corning Cable Systems. Steiner was more than just a mentor; he challenged me to see beyond traditional problem solving. He encouraged me to develop a financial vision and actively use my skills to shape the future of the business.

His guidance not only uncovered talents I wasn't aware of, but also provided me with opportunities to grow and take on responsibilities that have been integral to my professional journey.

Overcoming Challenges in a Rapidly Growing Environment

As a CFO, one of the biggest challenges I've faced is managing rapid growth. While growth is undeniably exciting, it brings with it a host of challenges that touch every part of an organization. Balancing working capital, addressing labor issues, and ensuring that every process is scalable in an ever-changing environment is no small feat.

Yet, it is precisely this intensity that makes the role so rewarding. Each obstacle has taught me the importance of adaptability, strategic planning, and collaborative leadership.

What I Cherish Most in My Career

Reflecting on my career, I believe my greatest professional achievement has been the ability to drive transformative growth. I've been fortunate to work in various sectors – from public accounting and consulting to manufacturing – and each experience has enriched my expertise.

My training in software integration, lean methodologies, and six sigma has allowed me to not only identify and solve complex issues but also to build a vision that resonates with my team. Collaborating and harnessing our collective strengths to overcome challenges remains my proudest accomplishment.

Why Wichita Feels Like Home

I'm a transplant from Dallas, and moving to Wichita has been one of the best decisions I've ever made. Beyond the practical benefits like reduced traffic and shorter commutes, what truly captivates me is the quality of life here.

Wichita offers an incredible blend of vibrant dining, live entertainment, and top-notch performing arts. Yet, the true charm of this city lies in its people. I've been welcomed into a community where genuine connections thrive – where neighbors talk and strangers share a smile. It's this sense of community that continues to inspire me every day.

In My Own Words – An Interview

Why did you decide to focus on finance?

I took an accounting class in high school and realized that I had an aptitude. In college, I learned that my high school class was really just bookkeeping; but I loved the theory I learned. It really takes a problem solver to address complex accounting and finance issues.

Who was your most important mentor?

I worked with Steiner Eberle, VP Marketing at Corning Cable Systems, early in my career. He encouraged me not only to act as a problem solver but also to proactively use my skills to develop a financial vision. His mentorship helped me grow in ways I never anticipated.

What is the biggest challenge you have faced as a CFO?

Rapid growth is the biggest challenge I've encountered. Growth sounds exciting, but it impacts every facet of an organization simultaneously. It forces us to identify weaknesses, improve processes, and scale the business in an environment of constant change. Despite these challenges, the rewards are immense.

What is your greatest professional achievement?

My greatest achievement has been learning how to apply my education, skills, and experience to drive growth and transform companies. Every organization has unique challenges, and I've learned to partner with my team to create a shared vision that leads us to success.

When you tell others about Wichita, what do you brag about?

I love Wichita! Moving here has been the best decision I've made. Beyond reduced traffic and shorter commutes, it's the quality of life – from fantastic restaurants to vibrant arts and a welcoming community. Wichita is a place where people care, and that truly makes it feel like home.

Looking Forward

Winning the CFO of the Year Award has been a humbling experience and a reminder of the hard work that goes into every decision and challenge. I remain committed to not only driving financial success but also to nurturing the collaborative spirit that makes our achievements possible.

Thank you for joining me on this journey. I look forward to sharing more insights and experiences as I continue to grow both personally and professionally.