In Finance, you need the right answers. All. The. Time.
But you probably often get half-answers, some wishy-washy answers, a few “I don’t knows” and a lot of blank stares.
Usually, the fastest way to right answers is better questions.
And that’s where you come in — a finance pro who knows what to ask, and more importantly, how to ask it.
Better Questions are the Answer
When it comes to getting answers – for what you need to know and what you need to report — the quicker and more specific an answer is, the better.
We often end up asking uninspired questions because we’re busy and just want to move on to the next thing without thinking about the implications so we asked for answers.
But the answers will always be better when you ask better questions — the right questions.
It’s a balance: Questions that are too vague elicit blank stares. Questions that are overly complicated sound like you’re fishing for a specific answer.
So try these techniques to get to better questions that result in the best answers.
1. Avoid the ‘Non-Question’
Every question has an intention behind it, says Marlene Chism, consultant and author of From Conflict to Courage: How to Stop Avoiding and Start Leading. When we ask questions that are too general, we’re attempting to hide that intention whether we mean to or not.
In other words – why are you asking, really?
For instance, you might ask, “So, how’s that project coming?” But what you really want is the reassurance it’s getting done. Better to ask, “Is the project on schedule?”
Or maybe you ask, “Any issues?” Something that vague garners equally vague answers such as, “All good.” Meanwhile, you wanted the gory details if they existed. So you’re better to ask, “How are feeling about with budget we set? What areas do we need to reevaluate at this point to avoid overspending or underperforming?”
2. Be a More Curious Leader
You want your team to sense that you’re asking questions because you need answers or have a genuine interest in how they’re doing with the work. You don’t want them to ever suspect you have an ulterior motive to catch them off-guard.
So make sure your questions are more open than closed.
Close-ended questions usually require a yes or no answer only – and if that’s all you need, that’s fine. But they can also make people wary of telling you what you might not want to hear.
Since open-ended questions require some explanation and detail, you’ll get better answers.
So, instead of, “Is that report going to be ready?” ask, “When will that report be ready for my approval before we send it to the client?”
3. Avoid Statement Questions
Making a declarative statement followed by a question shuts down others’ viewpoints and can limit creative thinking.
Take this question: “Since it’s clear our strategy isn’t working, what’s the problem?”
It sounds harmless, but it takes any response they have for granted because you’ve already made clear you think the strategy failed.
You’ve assumed that:
- your employees agree with you, and
- they’ve had enough time to assess the problem.
Get employees thinking on their own by rephrasing: “It looks like our strategy might need some changes. Any ideas of what we can do better?”
4. Avoid Questions That Insist on an Absolute Certainty
It’s OK to accept a little ambiguity if you need to get more context.
Say you want to check on the status of a project. If you ask, “Will you need more information from me?” you force the closed answer — “yes” or “no.”
Instead, ask “How is this going so far? What more will you need from me this week?”
This opens up an opportunity to hear more details or give more information.
5. Ask More Questions with ‘Why’ & ‘How’
“Why” and “how” questions indicate that you’re looking for a detailed answer. They show you’re curious about what the other person thinks or knows. For instance, “Why do you feel this new approach would make our plan work better?”
But remember, hold the questions if you’re not able to really listen or can’t actually implement anything they’d say.
6. Probe a Little to Get Missed Insights
These questions are effective when addressing problems or conflicts because they can help diffuse emotional reactions. Rather than blustering, “How did this happen?!” get to the root of the issue to show you’re thinking ahead for a resolution.
Questions can be general: “What do you think caused the delay?” Ask specific questions to be even more effective: “Do you think we budgeted too little time for the rollout?”
7. Leave Assumptions out of It
Unfortunately, leaders sometimes add their own opinions to an otherwise objective question, not realizing it. But if you want your team to come up with creative solutions, resolving the issue yourself won’t get them.
For example: “Since we’re running way behind schedule on the quarterly numbers, should we delay reporting by a few weeks?”
The question sounds like you’ve made a strong leadership call, and you’re likely to get a very weak answer: “OK, that sounds fine.”
No one is going to argue with you or give a more thorough idea if it sounds like you’ve already made your decision! But if you genuinely want employee input, get the right information from your team with a series of questions like this:
“I’m told we’re running behind on the quarterly numbers. Is this true?”
“Can you give me a ballpark figure on how close you are to being complete?”
“So would a delay of two weeks give us enough time?”
Good leaders want intelligent, informed answers from employees. Asking pointed questions – while leaving out hidden intentions – is a proven way to get them.
