GrowCFO Show
#270 Why Almost Every New CFO Feels Like a Fraud, Alan Scholnick, GrowCFO Mentor
GrowCFO Show
•February 10, 2026•25 min
0
GrowCFO Show•Feb 10, 2026
Why It Matters
Understanding and addressing imposter syndrome equips new CFOs to lead finance transformations more effectively, fostering stronger stakeholder relationships and better organizational outcomes. As finance roles become increasingly strategic and people‑focused, the episode’s practical guidance on confidence‑building and continuous learning is timely for any leader navigating rapid change.
Key Takeaways
- •New CFOs often battle imposter syndrome during role transition.
- •Finance transformations require strong people and communication skills.
- •Building stakeholder trust starts with giving before asking.
- •Leadership development bridges technical finance and external storytelling.
- •Mentorship thrives on reciprocal learning and curiosity.
Pulse Analysis
In this episode, Alan Scholnick unpacks why almost every new CFO feels like a fraud. He explains that the shift from an internal, spreadsheet‑driven role to an external, stakeholder‑facing position creates a confidence gap that fuels imposter syndrome. By highlighting the psychological toll of losing daily number‑crunching control, Alan shows why understanding this transition is crucial for any finance leader stepping into the C‑suite. The discussion connects the personal anxiety of new CFOs to broader industry pressures, emphasizing that confidence must be rebuilt through purposeful self‑reflection and narrative framing.
The conversation then moves to finance transformation, where Alan stresses that technical expertise alone won’t deliver results. Successful CFOs must act as people‑first leaders, assembling cross‑functional teams, communicating clear "why" behind strategic moves, and fostering trust by giving before they ask. He illustrates how active listening, curiosity, and transparent storytelling help translate complex data into compelling business narratives for investors, boards, and employees. These soft skills, combined with disciplined project management, turn transformation initiatives from theoretical plans into operational reality.
Finally, Alan shares his mentorship philosophy, blending three decades at IKEA, consulting experience, and academic teaching. He argues that mentorship is a two‑way street, where curiosity and openness drive growth for both mentor and mentee. Practical tools—such as documenting achievements, seeking external feedback, and visualizing past successes—help new CFOs combat self‑doubt. By leveraging a diverse network and continuous learning, finance leaders can evolve from internal experts to strategic partners who confidently steer organizations through change. This episode offers actionable steps for any CFO ready to overcome imposter feelings and lead with purpose.
Episode Description
https://www.youtube.com/watch?v=FyAXw591D6s
https://open.spotify.com/episode/2Ci2KM7yh8NDxeX6Zr6QPf
In this episode, Kevin Appleby speaks with GrowCFO Mentor Alan Scholnick, a finance leader with over 30 years’ experience at IKEA, to explore why so many newly appointed CFOs struggle with imposter syndrome and feelings of fraudulence. Drawing on his journey from accounting roles to VP of Finance and later into executive coaching, Alan explains how the leap into the CFO role magnifies expectations around leadership, communication, and people development, often faster than new CFOs feel ready to handle. He frames these doubts not as weaknesses but as predictable responses to heightened responsibility and visibility.
The conversation highlights practical strategies new CFOs can use to navigate these pressures: building trust with stakeholders, improving communication and active listening, and grounding confidence in past achievements. Alan emphasizes that finance transformations are fundamentally about people, not just processes or technology, and that self-reflection, clarity of purpose, and continuous learning are essential for any CFO who wants to move from feeling like a fraud to leading with credibility and impact. He also shares how mentoring, reverse mentoring, and ongoing development inside and outside the organization can help finance leaders sustain confidence over the long term.
Key topics covered:
The discussion frames imposter syndrome as a common, almost inevitable experience for new CFOs, especially during major finance transformations.
Alan outlines practical techniques to build confidence, including revisiting past accomplishments and reframing internal narratives that fuel self-doubt.
The episode underscores the importance of communication, active listening, and curiosity in building trust and social equity with stakeholders.
Alan explains how continuous learning, teaching, and mentoring—both as mentor and mentee—help finance leaders stay relevant and resilient amid rapid change.
The conversation closes with Alan’s perspective on the type of mentee who benefits most from GrowCFO mentoring and how a growth mindset accelerates CFO development.
Links
Alan Scholnick on LinkedIn
Kevin Appleby on LinkedIn
GrowCFO Mentoring
Timestamps:
0:03:59 – Discussion on why people skills and leadership by example are critical when leading finance transformations.
0:05:16 – Alan explains how he helps finance leaders understand the “why” behind change and communicate it clearly to their teams.
0:07:40 – Focus on active listening, curiosity, and relationship-building as foundations for CFO credibility with stakeholders.
0:09:34 – Alan and Kevin directly address imposter syndrome, exploring why many new CFOs feel like frauds and how to rebuild confidence from prior achievements.
0:18:35 – Alan discusses transitioning from internal finance roles to external teaching, coaching, and representing the finance story to broader audiences.
0:23:31 – How academic work, private clients, and coaching combine to keep a finance leader’s skills current and versatile.
0:25:21 – Alan describes the mindset of an ideal mentee and the value of reverse mentoring, including learning from younger professionals.
0:30:37 – Kevin and Alan wrap up with the benefits of GrowCFO mentoring and the importance of a safe, supportive environment for CFO development.
Find out more about GrowCFO
If you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
Show Notes
https://www.youtube.com/watch?v=FyAXw591D6s
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https://open.spotify.com/episode/2Ci2KM7yh8NDxeX6Zr6QPf
In this episode, Kevin Appleby speaks with GrowCFO Mentor Alan Scholnick, a finance leader with over 30 years’ experience at IKEA, to explore why so many newly appointed CFOs struggle with imposter syndrome and feelings of fraudulence. Drawing on his journey from accounting roles to VP of Finance and later into executive coaching, Alan explains how the leap into the CFO role magnifies expectations around leadership, communication, and people development, often faster than new CFOs feel ready to handle. He frames these doubts not as weaknesses but as predictable responses to heightened responsibility and visibility.
The conversation highlights practical strategies new CFOs can use to navigate these pressures: building trust with stakeholders, improving communication and active listening, and grounding confidence in past achievements. Alan emphasizes that finance transformations are fundamentally about people, not just processes or technology, and that self-reflection, clarity of purpose, and continuous learning are essential for any CFO who wants to move from feeling like a fraud to leading with credibility and impact. He also shares how mentoring, reverse mentoring, and ongoing development inside and outside the organization can help finance leaders sustain confidence over the long term.
Key topics covered:
-
The discussion frames imposter syndrome as a common, almost inevitable experience for new CFOs, especially during major finance transformations.
-
Alan outlines practical techniques to build confidence, including revisiting past accomplishments and reframing internal narratives that fuel self-doubt.
-
The episode underscores the importance of communication, active listening, and curiosity in building trust and social equity with stakeholders.
-
Alan explains how continuous learning, teaching, and mentoring—both as mentor and mentee—help finance leaders stay relevant and resilient amid rapid change.
-
The conversation closes with Alan’s perspective on the type of mentee who benefits most from GrowCFO mentoring and how a growth mindset accelerates CFO development.
Links
Timestamps:
-
0:03:59 – Discussion on why people skills and leadership by example are critical when leading finance transformations.
-
0:05:16 – Alan explains how he helps finance leaders understand the “why” behind change and communicate it clearly to their teams.
-
0:07:40 – Focus on active listening, curiosity, and relationship-building as foundations for CFO credibility with stakeholders.
-
0:09:34 – Alan and Kevin directly address imposter syndrome, exploring why many new CFOs feel like frauds and how to rebuild confidence from prior achievements.
-
0:18:35 – Alan discusses transitioning from internal finance roles to external teaching, coaching, and representing the finance story to broader audiences.
-
0:23:31 – How academic work, private clients, and coaching combine to keep a finance leader’s skills current and versatile.
-
0:25:21 – Alan describes the mindset of an ideal mentee and the value of reverse mentoring, including learning from younger professionals.
-
0:30:37 – Kevin and Alan wrap up with the benefits of GrowCFO mentoring and the importance of a safe, supportive environment for CFO development.
Find out more about GrowCFO
If you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode.
GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here.
You can find out more and join today at growcfo.net
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