Biggest Challenges Faced By A CFO At Biomerica
Gary, a CFO and NPO Founder at Biomerica and Forge Optima, identifies the biggest challenge in the role as maintaining morale and a shared sense of purpose when the organization is "not winning," particularly in tough market conditions, because "humans we're very complex." Therefore, fostering the right messaging, culture, and employee sentiment is paramount, even more so than the technical financial aspects of the job, to ensure everyone buys into and contributes to the overall mission.
Leadership, Motivation, Resilience, Overcoming Challenges, Teamwork
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Gary Lu
CFO / NPO Founder
Biomerica and Forge Optima
UCLA
Economics
Biotechnology & Pharmaceutical, Nonprofit, Foundations & Grantmaking
Finance
Worked 20+ Hours in School, Greek Life Member
Video Highlights
1. Maintaining morale and a sense of mission during challenging market conditions is a significant challenge.
2. Navigating the human element, including messaging and company culture, is more complex than the financial aspects of the role.
3. Small wins feel more meaningful and impactful when achieved after overcoming difficulties, highlighting the importance of resilience.
Transcript
What is your biggest challenge in your role?
The biggest challenge is when you're not winning. The markets in our industry have been tough from a diagnostic standpoint.
It's difficult to rally everyone to understand that there's still an important mission. However, there's also resiliency on the other side, which is pretty awesome.
Every small or larger win feels more meaningful. Navigating messaging, culture, and how people feel is one of the most difficult parts.
The high finance aspects are quite simple. Humans are very complex, and these are the key areas in managing and maintaining a culture that everyone buys into and contributes to.