Get you going as a CIO - Part 1

Key insights to scout for as you march onto the tech battlefield in the role of CIO.

Introduction

Stepping into my first CIO role, I was a complete novice. Despite a solid educational background, I was unprepared for the vast scope of responsibilities awaiting a Senior Technology Executive. Over the past eight years, learning on the job has been my crucible, transforming theory into action. Now, I'm here to share the practical insights gained from this journey with fellow technologists. My goal is to offer you a snippet from my upcoming book, a shortcut through the maze, enabling a faster, more informed ascent in your career, something I wish had been available to me. Let's navigate this path together, armed with knowledge and experience.

The first task is to understand, that what you got here, won’t get you there

As a CIO, it's crucial to address a broad spectrum of issues across technology, business, and operations to ensure success. Focusing too narrowly, on what you know, can lead to unforeseen risks and limitations, potentially hampering the organisation's growth and exposing it, along with its leadership and Board, to various challenges.

Yes, there is a job description and a business strategy - if you are lucky -, but the business expects you to define what needs to be done to support overall business objectives.? By the end of your first 90 days, your leader will very likely expect you to have an IT strategy.

To get a grip on the job and start your preparation on day one, you need to know what you will need to articulate a strategy and a roadmap. So when you are drafting your “First 90 Days” action plan, you need to understand what aspects to consider.

Developing an IT Strategy that supports business goals requires careful management of the relationships between different initiatives, systems, and outcomes. Think of it like making pizza dough—the right mix of ingredients, in the right proportions, leads to that perfect texture as prized in Italian cuisine: smooth, elastic, and slightly sticky.

The specific blend of strategies for your organisation will vary, influenced by factors such as industry sector, company size, maturity level, risk tolerance, budget constraints, and, to some extent, projected cash flow and revenue.

Three key areas to focus on include:

1. Top Line Growth: Often the primary focus for businesses, aimed at increasing revenue and market share.

2. Baseline Cost Savings: This involves optimizing expenses to free up resources that can be reinvested in growth, further cost reductions, or risk management.

3. Risk Mitigation: Essential for managing both present and future threats to ensure ongoing operations and support stable growth.

When planning a technology roadmap—whether for digital transformation, innovation, or product development—it's essential to align these three considerations with the overall business value. Even if a project may seem to offer limited immediate value, it could be a crucial enabler for larger initiatives or vital for risk mitigation. Successfully advocating for a technology strategy means conveying its value in straightforward, business-centric terms.

Disclaimer: This article is designed to spark a chain of thought and offer guidance to those looking to enhance or elevate their career. The insights shared herein represent my personal views, cultivated over a decade of experience in executive roles. Please note, that while I aim to provide valuable advice, these perspectives are rooted in my journey and may not apply universally. I encourage readers to use this article as a starting point for their own exploration and decision-making process.

Kindly pass this article along to your colleagues to support them in fast-tracking their careers, ultimately contributing to digital transformation and substantial advancements in technology.

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