Points to the fully finished boot (5)
I believe the answer is:
welly
'boot' is the definition.
(short for Wellington boot)
'points to the fully finished' is the wordplay.
'points' becomes 'we' (two compass points).
'to the fully finished' becomes 'lly' (I can't explain this - if you can you should believe this answer much more).
'we'+'lly'='WELLY'
Can you help me to learn more?
(Other definitions for welly that I've seen before include "wet-weather gear" , "Boot (informal)" , "showing great commitment" , "Rubber boot (abbr)" , "Oomph" .)