Rise Above The Numbers (FP&HEY)

"Rise Above The Numbers" by FP&HEY

Today's episode is on FP&A's favorite topic: Financial Close 😉

We'll focus on how to slash your close time to prevent FP&A burnout with tips and tricks.

Show Notes

▪️ 0:20 - What the financial close is all about

▪️ 1:00 - Our experiences with the close

▪️ 2:30 - How collaboration improves the close process

▪️ 4:50 - Don’t fling spreadsheets around to check boxes

▪️ 7:45 - Treat the close like a sport

▪️ 9:30 - Review your board decks to learn your business

▪️ 11:30 - Create a list of questions to ask the business

▪️ 12:50 - Taylor Swift is awesome

▪️ 13:30 - The big “close”

What is the Financial Close?

The financial close process produces your financial (and non-financial) results.

Think of it like the scoreboard of your company.

Your friendly neighborhood accountants are the primary owners of this process.

🔥TIP: Accountants make great FP&A professionals too.

And it generates results…and some surprises.

Why the Financial Close Matters

Results are best served with actionable insights from your amazing FP&A team.

But most FP&A teams have ZERO time because of fire drills related to surprises.

Time to go on offense and make sh#t better.

How to Improve the Financial Close Process

Your goal is to save precious time.

So you can do actionable analysis.

And maybe get home on time for once in the thick of quarter end.

#1 Be Fast in Excel

Excel is your work surface in FP&A.

Lose the mouse.

🔥TIP: Learn Excel shortcuts to crush your FP&A requests

#2 Communicate with Accounting

Accountants are the keepers of journal entries.

Learn and understand what they mean.

Teach them the Excel skills you’ve acquired as well.

#3 Perform Daily Variance Analysis

Don’t call us insane.

We explain in more detail in the podcast.

It helps a ton in speeding up the close.

🔥TIP: Learn how to perform variance analysis here.

Conclusion: Your Close Doesn’t Have to be a Time Suck

Get the close done faster.

While increasing the quality (aka no errors and last-minute surprises).

It will help you prevent FP&A career burnout.

Keep learning and having fun.

Resources

▪️ Follow us on LinkedIn here

▪️ Email us your burning FP&A questions at info [at] fpandhey.com

"Rise Above The Numbers" by FP&HEY

Want to increase your chances of being successful in your FP&A career?

Land an internship to get experience and hire interns often to find the best talent.

Learn how two CFOs and founders got their start as interns.

Show Notes

* 00:15 - Internships are an FP&A career cheat code

* 01:50 - Internships help you compete against the best

* 03:30 - How the fastest person in Excel got their start

* 05:45 - Learn Excel AND walk the production floor

* 08:05 - Internships are the most thorough interview process

* 11:05 - Yarty got his edge by putting himself out there AND following up

* 13:10 - Careers are daunting, internships are great stepping stones

* 15:00 - Closing thought and why internships are freaking awesome

What is an internship?

School and education are important.

But the real world of FP&A jobs is a whole different animal.

Do you know what the best way to learn a job is?

Doing the job (insert internship).

Internships offer students the chance to gain experience in short-term jobs.

Why do Internships and Interns Matter?

How do you know you like a career if you never worked in it?

That’s a big roll of the dice.

Same with hiring.

Does a 1-hour interview guarantee someone can do the job?

Instead, try hiring an intern first.

You’ll spend more time with them than your family (sad but true during work days).

And you’ll learn EXACTLY what they’re capable of.

🔥TIP: FP&A could be a good career choice for you.

What Interns Should Focus On

Try a bunch of different things.

🔥TIP: Role rotation is a thing for interns and full-time FP&A jobs.

Figure out what you like and double down on it (having fun is important).

Find what you don’t like, and learn to avoid that job in the future.

Have a continuous learning mindset.

What Managers of Interns Should Focus On

Assess their hustle (show up first, leave last).

Challenge them (see what they’re capable of).

Get them in front of co-workers and spreadsheets to grow their skills.

🔥TIP: Teach them Excel lookups on day 1.

Be their mentor (you’ll build a forever relationship).

Conclusion: Internships are FP&A Career Making Machines

Jump-start your FP&A career by doing an internship.

You’ll be miles ahead of those who don’t (no matter where they go to school).

And hire interns to support your team.

You’ll make more informed hiring decisions as a result.

Keep learning and having fun.

Resources

▪️ Follow us on LinkedIn: https://www.linkedin.com/company/fpandhey

▪️ Email us your burning FP&A questions at info [at] fpandhey.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.com

"Rise Above The Numbers" by FP&HEY

Today's episode is on spreadsheets and how they can make you invisible.

Learn how to go beyond the spreadsheet to get noticed and help your business partners.

Show Notes

* 00:25 - Avoid being an invisible FP&A team member

* 02:00 - Break the business partner ice with boomerang talk

* 03:15 - Some people hate numbers (seriously)

* 06:22 - Market segmentation can help you be seen

* 08:00 - Do a cool analysis AND seek feedback 😎

* 09:45 - It’s on you to learn the business proactively

* 11:52 - Cars provide inspiration for practical analysis

* 12:24 - Closing statement, your business partners want your help

What is Going Beyond a Spreadsheet About?

Downloading, formatting, and emailing data with ZERO insights.

That’s the opposite of going beyond the spreadsheet.

There is nothing wrong with reporting.

The trick is to make the data you have useful via analysis.

And tell people about the useful analysis you have to spark actionable insights.

Why Does Leaving the Comfort of Spreadsheets Matter?

Your business partners desperately want your help.

You know numbers.

They know your business.

That one-two punch will ensure your company’s daily operations achieve your audacious financial goals.

Key Takeaways From You Being Seen and Heard

You will build relationships, those relationships could turn into future job opportunities.

🔥TIP: Here’s how to ace your next FP&A interview.

You will learn about your business, key knowledge that will help you move up the ranks or be marketable elsewhere.

You will have an impact on your company’s performance, great for performance-based bonus payouts.

Conclusion: Be Seen By Helping Others Do Good Work

You can have a positive impact on your business partners’ daily work.

Ask someone in Sales, Marketing, Product, or Operations to tell you about what they do.

Or try doing an analysis and seeking feedback on it.

Doing those things can make you a very visible FP&A team member.

Keep learning and having fun.

Resources

▪️ Follow us on LinkedIn here

▪️ Email us your burning FP&A questions at info [at] fpandhey.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.com

Welcome to our first podcast episode of…

“Rise Above The Numbers”

Every week, FP&HEY co-founders Drew and Yarty dive deep into world of FP&A and uncover the key insights and skills to help you grow your careers. All with a touch of humor.

These are the things we wish we knew earlier in our career. (Don’t make our mistakes.)

Topics include:

* How to budget and forecast the smart way

* Excel skills to crush through your workflows

* FP&A skills such as VMaP, QTD sales reporting, and waterfall variance analysis

* Ramping up in your new role

If you have any topics or questions for future episodes we can cover, feel free to reach out to us at “info [at] fpandhey.com”.

And if you need immediate help with your FP&A career, be sure to check out our website at fpandhey.com. We have over +40 articles plus additional resources to crush your job.

Let’s crush FP&A together. 👊

"Rise Above The Numbers" by FP&HEY

Want to reduce the time it takes to do your profit and cash forecast?

Learn how two FP&A veterans got their forecast time down to 2 days.

While increasing quality and minimizing late-night hours.

Show Notes

00:40 - We turned around a profit forecast in 2 days (for real)

01:30 - What a first-time forecaster in a F100 FMP program looks like

03:59 - Efficient profit forecasts take into account data, people, and process

04:55 - Don’t let too many people edit the forecast, sh#t gets confusing

05:29 - Use your accounts to assign ownership of spending drivers

06:48 - Marketing spend is the Wild West, but it can be tamed

08:09 - Having a globally distributed team is a BIG advantage to save time

09:35 - Give people the roadmap of the forecast process, it’s empowering

11:15 - Ask “why” you do things, will help remove wasteful time

12:45 - Mind mapping is INSANELY useful to visualize a profit forecast process

14:25 - Ultimately the stakeholder is your CFO and CEO, help them help you

15:35 - Big finish summarizing how to shorten the time it takes to forecast

What is a Profit and Cash Forecast?

Is your business going to achieve its revenue, profit, and cash goals?

The only way to know is by doing a monthly (or quarterly) profit and cash forecast.

It’s the process of adding up all your financial results.

And figuring out where your financial results will likely land in the future.

🔥TIP: Learn how to set your company’s KPIs and metrics

Why Does a Profit and Cash Forecast Matter?

Making business decisions is tough when you have no idea how much money your company will make.

Is revenue and profit going to be higher than expected next quarter?

If yes, what can you do with the surplus of cash?

FP&A is front and center helping businesses make timely investment decisions.

Ways to Reduce the Time It Takes to Forecast

A forecast is super stressful because it can take weeks to complete.

It can have way too many cooks in the kitchen.

And requires too many people to get relevant info.

Do these three things to reduce your profit forecast time (and stress levels):

Do NOT let dozens of people input forecast assumptions directly in your forecasting system, keep it to your FP&A team only

Minimize the number of department owners you work with to review forecast assumptions

Assign an FP&A team member to each major account group (like people costs, marketing)

This will help make you a faster forecaster and standout finance business partner.

Read our articles below to help you crush business partnering:

🔥How to business partner with Marketing successfully

🔥How to impress executives with quarterly sales performance reviews

🔥How to use bubble charts as the ultimate customer renewals tool

Conclusion: You Just Leveled-up Your Forecast Game

You can make your right-of-passage forecasting role way better.

And reduce the time it takes to do it.

By improving the process, assigning ownership, and simplifying things.

Keep learning and having fun.

Resources

▪️ Follow us on LinkedIn: https://www.linkedin.com/company/fpandhey

▪️ Email us your burning FP&A questions at info [at] fpandhey.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.com

"Rise Above The Numbers" by FP&HEY

Want your FP&A and Marketing Teams to combine forces to drive company results?

Seek common ground in your company's financial performance.

Learn how we did just that to improve revenue and profit performance to help you with your FP&A journey.

Show Notes

* 00:20 - Marketing does NOT want to hear “NO, NO, NO" from FP&A

* 01:25 - Marketing is about generating interest

* 03:15 - Driving sales with efficient spend is critical to Marketing success

* 03:50 - Marketing spend starts with purchase orders, know the details 🫵

* 04:55 - Ask WHY a bunch of times to understand Marketing spend

* 06:45 - Customer Lifetime Value (CLTV) helps companies big and small

* 07:55 - Understand your COCA (cost of customer acquisition), yay acronyms

* 09:55 - Favorable marketing spend (aka savings) is not always a good thing

* 11:50 - Take initiative and understand what Marketing does

What Does Marketing Do?

There are a million ways to market your company’s products or services.

Social media, billboards, paid search, newspaper ads…you name it.

Your Marketing Team figures out which marketing channels make sense.

With the primary goal of driving awareness (insanely important).

🔥TIP: Set up a purchase order process to track marketing spend.

Why Does Marketing Matter?

Your company could be the best in the world at what it does.

But what if no one knows your company exists?

HINT: NO SOUP SALES FOR YOU.

That’s why your company MUST be good at marketing.

Make sure you show your Marketing Team the money.

And help them spend it efficiently and effectively (that’s important too).

Things FP&A Can Do To Make Marketing Friends

Building a great relationship takes time and baby steps.

* Learn what Marketing spends money on by diving into their purchase orders

* Sit down with Marketing and ask WHY, let them teach you their ways

* Stand up a CLTV model to help them attract the ideal prospect

🔥TIP: Read this to learn how to do CLTV analysis.

REMEMBER, don’t lead with that word.

Conclusion: Marketing Is In Your Friend Zone

Help Marketing help your company by using your financial (and Excel) skills.

Your Marketing Team will thank you for demystifying their marketing spend.

And for helping your company achieve its goals.

Keep learning and having fun.

Resources

▪️ Follow us on LinkedIn: https://www.linkedin.com/company/fpandhey

▪️ Email us your burning FP&A questions at info [at] fpandhey.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.com

"Rise Above The Numbers" by FP&HEY

Want to help your CRO hit their sales targets?

Learn how one dashboard can help you do just that.

While building your business partner reputation.

🔥PREREAD: Learn how to create the QTD sales dashboard step-by-step.

Show Notes

* 00:20 - Everyone loves a good dashboard, including your CRO

* 01:35 - Sales is the lifeblood of your company

* 02:58 - FP&A can provide visibility of target achievement

* 04:00 - A simple line chart can help make in-quarter decisions

* 05:15 - Daily selling performance analysis helps prevent surprises

* 06:50 - There is SO MUCH data, help make it useful for leadership

* 08:20 - Create a sales data anchor that connects units and price metrics

* 10:30 - Create a data bank to define what is measured and its source

* 12:00 - Automate your reporting with software

* 12:55 - Build in the ability to double-click your dashboard for details

* 13:42 - You can become your CRO’s best FP&A friend

What is Sales?

Sales = cash for your business.

It’s when a customer pays your company money in exchange for a good or service.

This money is what pays the bills (including your salary).

That’s why companies need sales to survive.

Why are Sales Important?

Sales are the lifeblood of a company.

No sales means no revenue and no profit.

Helping your Sales Team sell enough to hit your targets is critical:

* To ensure your bills can be paid

* To protect long-term company growth

* To maximize bonus and commission payments

Everyone in your company has a vested interest in your Sales Team’s success.

Ways to Help Your CRO (and CFO) Succeed

Your CRO’s mission is to sell, sell, sell.

And not just sell any amount.

They need to hit their sales quota (aka sales target).

Which can sometimes be scary big.

Help your CRO and Sales Team hit their quota by doing a few things:

* Visualize daily sales performance vs target using a dashboard

* Automate the creation and delivery of that dashboard

* Set rescheduled performance reviews with your Sales Team

Doing these things will help you contribute to your Sales Team’s quota achievement.

And added bonus, your CFO will want access to that dashboard too.

You’re building relationships with two executives using one dashboard.

Check out these resources for other ways to help your company achieve its sales target:

🔥TIP #1: Analyzing white space.

🔥TIP #2: Nailing down your pricing strategy.

🔥TIP #3: Standing up a deal desk.

Conclusion: You Can Have a Direct Impact on Your Company’s Sales Performance

Sales and FP&A Teams have different skill sets.

And you can help bring the two together to achieve even the most audacious sales targets.

This will help you build serious street cred with your CRO and Sales Team.

Which contributes to your growing network of satisfied business partners that know who you are and what you’re capable of.

Resources

▪️ Follow us on LinkedIn: https://www.linkedin.com/company/fpandhey

▪️ Email us your burning FP&A questions at info [at] fpandhey.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.com

"Rise Above The Numbers" by FP&HEY

Want to hit the ground running in your first FP&A job?

Learn how we did just that.

Which helped us learn about our businesses and take on new opportunities.

🔥TIP: Here’s a resource to help you plan your first 6 months as an FP&A manager.

Show Notes

* 01:20 - Take ownership of your job, that’s why they hired you.

* 02:45 - Stay organized, you’ll be asked to do a lot of tasks at once.

* 05:00 - Question everything, you and your boss won’t know everything.

* 06:50 - People want to help, so ask them for it.

* 07:15 - Write your key learnings down every day, be proud of that list.

* 07:55 - We repeat, ask people for help and take darn good notes.

* 08:55 - Share what you learn with your peers and team by recording it.

* 10:00 - You can learn SQL from your engineers, just ask.

* 11:40 - To be a great leader lead with learning, show your team how.

* 12:36 - Ask questions, be organized, and embrace learning.

What can you expect in your first FP&A job?

The phrase “drink from a fire hose” covers it nicely.

There are deadlines you need to meet.

Adhoc requests you need to complete ASAP.

And people from all business functions asking for data you may not have to hand.

You can look at this in 2 ways:

* Holy sh#t I’m going to tap out to stop the craziness

* Holy sh#t I see an opportunity for me to level up my career skills

We recognize option #1 is tempting, it crept into our brains too.

Here’s how to take on option #2 and maximize your learning.

Note either option will likely trigger you to say a choice adult phrase.

🔥TIP: Here’s an approach to help you ace your next FP&A interview.

Why FP&A Is the Ultimate Learning Platform?

We may be biased.

But we’ve experienced firsthand how FP&A propelled us and others around us to new career heights.

Here’s why:

* FP&A offers a holistic business view, there’s no place for revenue, expenses, and cash to hide

* FP&A is a field where continuous learning is needed to succeed across data, communication, and business knowledge

* FP&A engages with ALL departments and provides unique under-the-hood looks at business operations

The trick is to accelerate your FP&A learning curve by hitting the ground running.

🔥TIP: Get really good with data by learning Excel data tables.

🔥TIP: Learn how to present financial info in a way people will actually pay attention.

🔥TIP: Business partner with your Marketing Team to learn that part of the business.

Ways to Speed Up Your FP&A Learning Curve

Think of FP&A as a wet towel.

And the opportunity available to FP&A is the water absorbed by the towel.

Your trick is to wring out as much water as possible.

Here are 3 things that helped us wring out the proverbial FP&A wet towel:

#1 Take Full Ownership of Your Job

You will be given tasks like:

* Variance analysis

* Expense management

* Reporting

Rise above the numbers and spreadsheets.

Understand what the numbers are, how they come to be, and ways to make them better.

Even if your boss doesn’t ask you to.

🔥TIP: Here’s how to do variance analysis.

#2 Leverage The Resources Around You

Everyone starts out knowing close to nothing, including us.

Don’t be afraid to ask questions.

The trick is to take great notes and constantly learn from those around you.

And leverage already existing resources like your company’s wiki page.

You’ll find gold in the form of business knowledge.

#3 Learn Things Outside of Your Job Scope

As you learn and meet new people something awesome happens.

New areas of learning open up.

Embrace those new areas, even if it’s outside your job scope.

You’ll be surprised at how relevant that learning can be to your job.

Conclusion: You Can Shorten Your FP&A Learning Curve

Getting FP&A jobs can be challenging.

And once you get one maximize the opportunities they offer.

Don’t fear knowing nothing, embrace it and become the expert.

You got this FP&A thing.

Resources

▪️ Follow us on LinkedIn: https://www.linkedin.com/company/fpandhey

▪️ Email us your burning FP&A questions at info [at] fpandhey.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.com

"Rise Above The Numbers" by FP&HEY

Want to take your FP&A skills from one industry to another?

Tune in and learn how we went from manufacturing to SaaS.

Using universal FP&A skills that apply to virtually all industries.

🔥TIP: Here’s why FP&A is a career worth considering.

Show Notes

* 00:45 - Started in manufacturing, used that experience to do a SaaS IPO.

* 01:05 - Light bulbs, renewable energies, and printed materials…oh my!

* 01:59 - Manufacturing is raw materials, vendors, and labor.

* 03:12 - Don’t use your industry as an excuse to not apply for a job.

* 04:05 - SaaS has data centers and customer support teams, all tangible too.

* 05:30 - Whatever industry you’re in, find the tangible thing you can jump into.

* 06:15 - Find industries that you can get excited about.

* 08:10 - Sometimes products you use are in industries you’ll enjoy.

* 09:51 - We all like working on things we understand.

* 10:56 - Volume, mix, and price is a universal framework you can use 🔥

What is an FP&A Job Like in Manufacturing?

Manufacturing is where stuff if made.

The production floor in a plant is an amazing place:

Raw materials are stored and loaded on a production line

Production lines transform them into finished goods

Distribution areas pack and ship those finished goods to customers

Abandon your spreadsheet and put on your safety equipment.

Walking the production floor will teach you how your operations work.

Just ask the engineers and line workers, and they’ll literally show you.

And guess what?

A plant isn’t the only place with a production floor to walk.

What is an FP&A Job Like in SaaS?

Software as a Service (SaaS) is where we enter the cloud.

The cloud is a real place.

It’s where clippy still hangs out (we think).

The cloud is nothing more than a data center.

Blinking metal boxes (servers) and metal cages power the software you use right now.

And there are inputs in SaaS similar to manufacturing:

* Usage (users, customers, data being transferred)

* Support tickets

* Implementation (aka set-up)

Put your computer away and walk to your customer support person’s cube.

Seriously, watch how they operate.

Understand that they are your service in tangible form.

Also, check out your local data center if you have one.

And bring a jacket, the AC in those places keeps those servers cool.

FP&A Skills that Apply to All Industries

Every company in every industry is trying to do one thing.

Make money.

It’s how they keep the lights on.

Help them by:

* Growing revenue

* Managing expenses

* Monitoring cash flow

🔥TIP #1: Use volume, mix, and price analysis to understand revenue performance.

🔥TIP #2: Understand your company’s break-even point for cash flow management.

🔥TIP #3: Make your customers’ renewal process more profitable.

Conclusion: You Can Industry Hop via FP&A

FP&A is full of value-adding activities.

Learn a bunch of them, regardless of the industry you’re in.

Prove to a future employer you know your stuff.

And that you can apply it to a new industry.

Resources

▪️ Follow us on LinkedIn: https://www.linkedin.com/company/fpandhey

▪️ Email us your burning FP&A questions at info [at] fpandhey.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.com

"Rise Above The Numbers" by FP&HEY

Want to move up the FP&A ranks faster?

Deliver a little extra financial analysis.

It helped us meet more people, learn new things, and get promoted faster.

Tune in to hear what extra financial analysis we did.

And stay tuned after our off-the-charts closing music for an after-the-pod conversation about pivot tables and marketing yourself.

Show Notes

* 00:20 - Don’t knock doing a little extra—it can lead to a lot of upside

* 01:35 - Being genuinely curious leads to learning

* 01:55 - Analyzing failed payments w/ segmentation = cash flow opportunity

* 03:02 - Leadership wants analysis—then an action plan to improve results

* 03:30 - SURPRISE—quick wins can come from extra analysis

* 03:51 - Doing VMaP analysis can give revenue performance clarity

* 06:11 - Use analytical frameworks that work everywhere—rinse and repeat

* 06:46 - Continuous learning and networking—all from being curious

* 08:08 - Pivot tables and SQL—tools that help you do extra analysis

* 09:20 - Be a marketer—do good work for people, they will be your best promoter

Why Doing Extra Financial Analysis Helps Your Career

15 years ago we built a website for a friend’s business.

We had ZERO experience building websites.

Why did we do it?

We were curious how the process worked and we wanted to help our friend.

The results?

✔️A website was built that generated sales

✔️We acquired skills to build a website (which helped build FP&HEY) 🙏

✔️Our friend is forever our reference for future job opportunities

You don’t need to build a website to spring your FP&A career.

Instead do extra financial analysis.

You’ll acquire new skills, grow your network, and maybe help your company improve results.

You just have to be a little curious.

How Analyzing Failed Payments Helped Cashflow

Cash is kind of a big deal.

Yarty helped a small company generate more of it.

By analyzing failed payments and segmenting customers to understand the drivers.

And at the request of his executives, he collected the money by:

💪Creating an action plan to collect failed payments

💪Selecting a software vendor to help automate failed payment collection

💪Reporting progress

Sometimes FP&A jobs can take on operational tasks.

Which helps you learn a bunch of skills you didn’t think you’d learn.

How VMaP Drove Revenue Performance Clarity

Without revenue, your business doesn’t survive.

So when revenue starts dropping below expectations, you better figure out why.

Which Drew did—by accident.

He used volume, mix, and price analysis to assess shipping and product revenue performance.

🔥TIP: Here’s your essential guide to doing VMaP analysis.

Because he was curious—no one asked him to do it.

The result?

A way better understanding of revenue performance that executives took notice of.

Which resulted in a CFO-sponsored project to do more VMaP analysis.

And some awesome trips to Canada and Spain.

Use Simple Tools to Do Financial Analysis

You don’t need much to whip up a garage project-style financial analysis.

Start with a spreadsheet (Excel is amazing).

Ask your boss for data (SQL can help, so can ChatGPT).

And leverage pivot tables, data tables, and maybe some PowerQuery.

Not sure how to use these tools?

Read up to learn and watch your productivity skyrocket.

🔥TIP: Here’s how to speed up your learning using ChatGPT.

Conclusion: A Little Extra Can Go a Long Way In Your Career

You are capable of doing amazing things (not just FP&A).

And figuring out what you are capable of can happen as fast as you want it to.

By putting yourself out there.

Resources

▪️ Follow us on LinkedIn: https://www.linkedin.com/company/fpandhey

▪️ Email us your burning FP&A questions at info [at] fpandhey.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.com

"Rise Above The Numbers" by FP&HEY

Want to see a real-life, public example of FP&A driving financial results?

We break down Mimecast’s public earnings release.

Drew helped create some of these metrics during Mimecast’s IPO process.

Case Study: Mimecast

Think about the software you use and pay for right now.

That software is provided by SaaS (software as a service) companies.

And you are contributing to those software companies’ metrics by using and paying for their services.

Mimecast is a SaaS company too, they provide cyber security solutions.

Let’s dive into Mimecast’s public earnings release, which is full of SaaS metrics you can apply to other SaaS companies.

🔥Follow along with us by pulling up Mimecasts external report here.

Show Notes

* 00:35 - Case study time—Mimecast.

* 01:30 - It’s all about KPIs and metrics.

* 01:59 - Constant currency strips out one-time items and fx.

* 02:41 - AOV (average order value) tells your upsell story.

* 03:45 - Average product counts indicate customers are willing to buy more stuff.

* 04:27 - White space can help operationalize upsell using product counts.

* 05:45 - Customer segmentation is a great way to analyze your customers.

* 06:34 - Creating metrics starts with a manual spreadsheet, then automation.

* 07:30 - Lemonade stands can teach us a lot in FP&A 🍋

* 09:30 - Net revenue retention rate (NRR) combines customer retention and upsell.

* 11:30 - Look at your own spending habits to assess your NRR with companies.

* 13:59 - Big finish—you can create KPIs and metrics in FP&A that drive results.

It’s All About KPIs (and Metrics)

Financial and non-financial data is best served when connected to your company’s goals.

How do you do this?

Creating KPIs (and metrics).

🔥TIP: Here’s your essential guide to creating KPIs and metrics.

In FP&A you can help your company create them.

Which influences what you report:

* Internally to guide your business partners to achieve their department goals

* Externally to tell your company’s performance story to investors

Find what other companies report on in your industry as a starting point.

Examples of SaaS KPIs (and Metrics)

Mimecast disclosed several financial and non-financial metrics to tell its external performance story.

Here are 3 that you can apply to companies you work for:

1. Constant Currency Revenue Growth Rate

Your company’s revenue performance has a bunch of drivers.

Stripping away one-time events and foreign exchange (aka fx) helps to clean up the story you tell.

You can do this in 3 steps:

* Step 1: restate your current period revenue results using your base period’s fx rates

* Step 2: remove any portion of revenue related to M&A activity that don’t exist in both the base and current period

* Step 3: remove any portion of revenue related to one-time events that don’t exist in the base and current period

NOTE: companies will have different approaches to constant currency reporting, the above is one example.

2. Average Product Counts

Your customers buy stuff that your company sells.

The more stuff your customers buy from your company is usually a sign they like buying from you.

It’s a matter of using product counts as your numerator.

And customer counts as your denominator.

🔥TIP: Here’s how to calculate product counts at your company.

3. Net Retention Rate (NRR)

SaaS companies are all about ARR (Annual Recurring Revenue).

NRR can help you assess the health of your ARR.

That’s a lot of acronyms.

Do this by breaking apart your month-over-month results into:

* Churn - customers that leave you

* Downsell - customers that spend less with you

* Upsell - customers that spend more with you

* New - customers that are brand new buyers

🔥TIP: Here’s more info on how to calculate customer churn.

🔥TIP: Try segmenting your customers to learn more about them.

Conclusion: You Can Shape Your Company’s Story

In FP&A you can create KPIs (and metrics) at your company.

Don’t stop there.

Help influence your company’s results by connecting them to your company’s daily activities.

That puts you front and center to tell your company’s performance story.

AND helps you influence what future story is told.

Resources

▪️ Follow us on LinkedIn: https://www.linkedin.com/company/fpandhey

▪️ Email us your burning FP&A questions at info [at] fpandhey.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.com

"Rise Above The Numbers" by FP&HEY

Want an FP&A job that goes beyond traditional month-end reporting?

Try working on your company’s Deal Desk Team.

Or stand one up if your company doesn’t have one yet.

Tune in and learn how we’ve stood up multiple Deal Desks.

And helped boost our company performance and career prospects in the process.

Show Notes

* 00:35 - We’ve stood up Deal Desks at multiple companies.

* 01:50 - Deal Desk is great for companies with daily deal-making.

* 03:15 - Deal Desk = Financial Rigor = Future Financial Transparency.

* 03:55 - Try negotiating with your cable company—practice makes perfect.

* 05:01 - Tracking daily deal-making is beneficial for your CRO and CFO.

* 05:55 - Be a connector between your CFO and CRO.

* 06:52 - Ask why A LOT—helps you understand your pricing strategy.

* 08:31 - Automation is powerful—saves time and drives faster deal-making.

* 09:51 - Understand your Marketing and Sales funnel—helps with analysis.

* 11:51 - Big finish—Deal Desk drives financial rigor for your CFO and CRO.

* 12:46 - After the pod—get your analytical reps by working on a Deal Desk

🔥TIP: Here’s a framework to get to FP&A Manager and beyond, Deal Desk can help.

Why Your CFO and CRO Care About Deal Desk

Guess what your CFO and CRO have in common?

It’s not just the first and last letter in their acronym.

They want your company to hit its revenue targets.

Which is a key KPI at many companies.

Help them achieve this common goal.

By inserting yourself in the middle of the deal-making process.

🔥TIP: Here’s how KPIs and metrics work.

FP&A and Deal Making Can Mix Well

Your mission (should you choose to accept it) is counterintuitive and impossible.

At least that’s how it looks on paper.

Your Deal Desk has 3 goals:

* Instill financial rigor by analyzing deals

* Reduce selling friction by removing internal conversations

* Speed up deal-making by assessing list prices and approval thresholds

How can you do all 3 at the same time?

By building a kick a$$ Deal Desk Team.

🔥TIP: Make sure your Deal Desk Team understands pricing strategy.

How to Create a Best-in-class Deal Desk Team

Do these things to help your Deal Desk thrive.

Assess new deal revenue

Surprised by your month and quarter-end revenue?

You can help remove some of that surprise element.

By analyzing new deal revenue expectations.

And do so for every single deal daily so no surprises exist at the end of the quarter.

🔥TIP: Here’s how to do QTD sales analysis.

Understand new deal profitability

Saying NO to deals can be very easy.

But it’s time-consuming and creates back-and-forth friction between Sales and FP&A Teams.

What if you didn’t have to say NO as much?

Build in deal profitability analysis into your deal approval price thresholds.

It will inform Sales of the DO NOT CROSS selling price line.

And when they do cross that line, they’ll be ready to explain why.

🔥TIP: Customer segmentation can help assess profitability.

Global Teams = Follow the Sun Coverage

Sales Teams are constantly working to close deals 24/7 around the globe.

That means your Deal Desk Team needs a good deal approval coverage plan.

If possible have multiple Deal Desk Team members work in different time zones.

Having a person in Asia, Europe, and the Americas can help keep your team working 9-5 with fast response times.

Conclusion: Deal Desks Are Super Powerful

Creating and working in a Deal Desk may not be an FP&A career path you thought was possible.

But take it from us, many companies can benefit from it.

And many careers were accelerated because of the value it brings to Sales Teams, CROs, and CFOs.

Resources

▪️ Follow us on LinkedIn: https://www.linkedin.com/company/fpandhey

▪️ Email us your burning FP&A questions at info [at] fpandhey.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.com

"Rise Above The Numbers" by FP&HEY

This episode features Annette DeYoung.

She aspired to be a teacher, fell in love with math, and took on a career in Accounting, Finance, FP&A—and eventually Sales? 🤔

She’s been a Cost Accountant, Controller, and Director of Financial Planning, and is currently a Senior Solutions Architect at Datarails.

On top of that, she’s involved in theatre, runs a non-profit called Children’s Theatre Project Youth Theatre Project, plays a bunch of instruments, and has 5 kids.

Want to get something done? Talk to Annette.

🔥TIP: Here’s a guide to all FP&A job levels from Analyst to CFO.

Takeaways from Annette’s Interview

* Seek to work for great leaders, figure out who those great leaders are by asking a bunch of questions when interviewing.

🔥TIP: Here’s a guide to crushing your next FP&A interview.

* Great leaders turn followers into leaders, read Turn the Ship Around, by L. David Marquet.

* If you work from home don’t just roll out of bed and start working, start your day preparing yourself (coffee and contemplation for 1 hour can help).

* Take chances in your career, you may miss out on amazing experiences by taking the safe route.

* When new formulas in Excel come out, learn how they work right away.

🔥TIP: Data tables aren’t new to Excel, but learn how to use them to stay ahead.

* Less is more when presenting, word walls will bore and confuse your audience.

* If you’re mad you’re had, speak to facts, not to your emotional opinion, to drive business change.

🔥TIP: Negative feedback isn’t fun to receive, here’s an approach that helped us.

Show Notes

* 01:30 - If you want something done, find the busiest person you know

* 02:20 - A career in Accounting and Finance has led to — Sales? 🤔

* 05:20 - Tell your audience what they need to know—in a way they understand

* 06:24 - I had ZERO idea I would be an accountant—aspired to be a teacher

* 07:05 - 3 vs 5 kids doesn’t matter—you’re outnumbered and play zone defense

* 08:25 - My love for Finance and Accounting started in Intro to Accounting class

* 10:00 - Understand your data—key to getting good at FP&A 🔑

* 11:05 - Saved a large navy ship manufacturing +$50m—kind of a big deal

* 15:55 - Find data, clean it, and use it to move people in the same direction

* 16:46 - If you’re not replaceable, you’re not promotable—KISS 👄

* 20:09 - Your job will get boring—unless you continuously improve

* 24:39 - Working with new people every day can be FUN

* 25:53 - Your time is precious—learn to say NO to save some

* 27:55 - Do you want it RIGHT NOW or do you want it RIGHT?

* 30:50 - Ask your future boss “Will you micro-manage me?”

* 33:10 - Lightning round full of FP&A wisdom—listen up⚡

* 41:40 - Look for Annette on LinkedIn, webinars, and Super Bowl Commercials 🏈

* 42:25 - We spend a lot of time working—do what you can to find a job you enjoy

Conclusion

Annette is a great example of someone who constantly learns.

It doesn’t matter if it’s time management, software tools, or leadership.

She’s obsessed with always improving, saving time, and focusing on things that matter the most.

It helps her enjoy her career.

You can find Annette on LinkedIn.

And in Super Bowl commercials.

THANK YOU Annette for sharing your career story with us.

Resources

▪️ Follow us on LinkedIn: https://www.linkedin.com/company/fpandhey

▪️ Email us your burning FP&A questions at info [at] fpandhey.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.com

"Rise Above The Numbers" by FP&HEY

The feelings you have in your FP&A career are shared by many.

How do we know?

We found +25k FP&A professionals asking and answering questions on the FPandA subreddit.

And today we answered 3 questions from this group.

An FP&A Career is a Long, Winding Road

There is no set path to go from ZERO to FP&A hero.

It requires:

* Being humble

* Constantly learning

* Understanding what you want

And knowing a little accounting and Excel doesn’t hurt either 😉

But when all is said and done.

You can do some interesting things in an FP&A career.

🔥TIP: Here’s why FP&A careers are worth a look.

Show Notes

* 00:21 - This is a mailbag episode w/ questions from the FPandA subreddit

* 01:19 - Why aren’t other departments amazing like FP&A❓

* 02:15 - Numbers don’t sell, market, or make products—they support the biz

* 03:10 - EVERYONE relies on FP&A—so help them, that will make you great

* 04:29 - You know you’re good in FP&A when others can speak to numbers

* 06:29 - How in the world do you get from FP&A Manager to Director❓

* 07:11 - Thinking separates Directors from Managers—help w/ strategy

* 09:21 - Managers manage teams, Directors manage multiple teams

* 10:40 - Hire good people and ensure they’re working towards common goals

* 12:54 - Have high agency—take control of your career

* 13:38 - Should you go back to a company you left for more money❓

* 14:13 - Write down why you leave jobs—reference those notes in the future

* 15:34 - Know why you left a job in the first place—did that change?

* 18:00 - Big finish—keep asking questions, people are willing to help

Why is FP&A Better Than Everyone?

It’s true, FP&A runs circles around people when it comes to numbers.

But guess who runs circles around FP&A in everything else?

EVERYONE.

FP&A people are notoriously bad at:

❌ Marketing

❌ Sales

❌ Product

❌ Operations

It doesn’t mean you can’t learn those functions in your FP&A job.

Challenge yourself to help those other functions speak your language.

Help them translate their daily activities into numbers (aka KPIs and metrics).

Which helps them support your company’s goals and ultimate success.

🔥TIP: Here’s how to help your team set KPIs (and metrics).

How to go from FP&A Manager to Director

Full disclaimer: FP&A job titles are VERY confusing.

We’ve seen CFOs operate like analysts.

And Analysts run places like CFOs.

In general, here’s what Directors do that Managers don’t:

✔️ Support strategy

✔️ Lead multiple teams

✔️ Set KPIs and the surrounding metrics to support them

Think LESS doing stuff in spreadsheets.

And MORE directing people to swim in the same direction.

🔥TIP: Here are all the FP&A job levels and how you can reach them.

Your Old Place Wants You Back

You knew your old place couldn’t live without you.

Let’s face it, having your old company asking (ok sometimes begging) you to come back makes you feel good.

But will returning to that job, even if it means more money, make you feel good for a long time?

Depends.

Know a way to help you make this decision?

Write down why you left the job when you left it.

Reference those notes when they come calling for you again.

How did the situation change?

Only you can decide 🫵

But knowledge is power, and writing stuff down helps memorialize worthwhile knowledge.

Conclusion: Others Have Been There

Ask questions to those that have more experience than you.

They’ve likely walked in your footsteps before.

You don’t need to copy what they did.

Just listen, learn what worked (and didn’t) for them, then decide for yourself.

One thing we do know for certain.

People with the knowledge to share usually like sharing it.

So don’t be afraid to ask 👊

Resources

▪️ Follow us on LinkedIn: https://www.linkedin.com/company/fpandhey

▪️ Email us your burning FP&A questions at info [at] fpandhey.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.com

"Rise Above The Numbers" by FP&HEY

Want to help your company move the financial performance needle?

Kick off a finance for non-finance education program.

It helped our business partners connect everyday activities to the financial scoreboard.

Helping us improve company performance using operational finance.

And grow our FP&A reputations. 👊

Tune in to learn how we did it.

Listen on

* Apple

* Spotify

* Substack

Show Notes

* 00:20 - Educate your ENTIRE company in the language of finance

* 01:19 - Help your company make more money = promotion opportunities 🫵

* 02:59 - Help everyone understand the financial scoreboard

* 05:05 - Use SMART goals to connect activities to financial metrics

* 06:01 - Educating the masses will boost your FP&A reputation 💹

* 06:27 - Help your leadership understand the value of finance

* 07:06 - Know your company goals—gives people autonomy

* 08:42 - Whitespace analysis is a great example of operational finance

* 09:45 - Educating your company drives a ton of learning opportunities

* 10:05 - In FP&A, it’s on you to educate the masses in operational finance

Present Financial Info with Confidence

Numbers aren’t that complicated.

So keep it simple.

Start with a high-level metric like revenue:

* Define it

* Tell them why it’s important

* Explain what drives it up and down

From there you connect department activities to the underlying drivers of the metric.

🔥TIP: Here’s more info on how to present financial info.

Whitespace is an Example of Operational Finance

How can you influence financial results in your FP&A job?

Ditch the slides and spreadsheets.

Operational finance is where you take the time to learn your business.

And THEN dive back into Excel to do actionable analysis.

Like white space, which helps your Sales Team drive higher revenue.

🔥TIP: Learn more about whitespace with this case study.

KPIs (and Metrics) Help People Drive Results

What do you do after you create a kick a$$ analysis that drives certain behaviors?

You measure results and report back what you find.

Determine what results matter most by labeling them as a KPI (key performance indicator) or metric.

🔥TIP: Here’s a step-by-step guide to setting KPIs (and metrics).

Conclusion: Build Your FP&A Reputation

Educate your business partners.

Help them drive results.

And measure performance along the way.

You’ll meet a lot of people (which grows your network).

And help your company drive financial performance (which grows your reputation within your company).

Resources

▪️ Follow us on LinkedIn: https://www.linkedin.com/company/fpandhey

▪️ Email us your burning FP&A questions at info [at] fpandhey.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.com

"Rise Above The Numbers" by FP&HEY

Do you dread forecasting because you’re never 100% right?

We’ve done hundreds of revenue and profit forecasts.

And guess what?

Every single one of them was wrong—and that’s ok when handled properly.

Although it is a huge mental hurdle to get over.

We’ll talk about one of our biggest forecasting fails.

Double-counting a revenue figure in a public company’s internal profit forecast.

Tune in to find out how we made the mistake, how we communicated the mistake to leadership, and how we handled it which drove revenue results higher (seriously).

Show Notes

* 00:18 - We aint perfect in FP&A—let’s talk about epic forecast fails

* 00:42 - Forecasting fails are a right of passage in FP&A

* 01:28 - Holy smokes, Drew messed up a public company’s forecast 🙈

* 02:59 - Great monthly forecasting processes help catch and mitigate mistakes

* 03:45 - Making mistakes is stressful—respond by taking action

* 04:50 - You learn who people are when their backs are against the wall

* 06:30 - The reality is, numbers will be a measure of your FP&A job success

* 07:53 - Forecasting is about the realm of possibility—not perfection

* 08:44 - Drive operational finance—help your business partners make decisions

* 10:15 - FP&A is about driving decisions to help your company achieve its goals

Know Why the Mistake Happened

Making mistakes is ok.

Try not to make the same mistake twice.

Our revenue forecast mistake happened because two people counted the same product in their own stand-alone forecast.

The fix?

Each month audit what products each forecaster owns, ensure ZERO double counts.

🔥TIP: Speaking of products, use that product data to do whitespace analysis.

Hustle to Communicate and Create a Plan

Knowing why a mistake happened and ensuring it doesn’t happen again is a good start.

But what can you do about it now to help the company still achieve its goals?

Go on defense by managing expenses to help profit and cash flow hit desired levels.

Or go on offense and see what untapped revenue opportunities exist (like we did).

Either way, try to have a contingency plan in place when you communicate your forecast mistake.

Manage Future Mistakes the Same Way

We aren’t perfect.

Things you can’t predict will come up.

And mistakes will inevitably be made.

Focus on having a:

✔️ Framework

✔️ Team

✔️ Process

To help keep financial and nonfinancial KPIs (and metrics) organized throughout your forecasting journey.

That will help you maintain focus not on accuracy, but the realm of what’s possible.

And give your leadership and key stakeholders confidence that you will help them navigate their financial performance with financial rigor in place.

Conclusion: Keep Learning

You will grow from your successes and failures.

The trick is to keep learning—every day.

Knowledge is power.

Resources

▪️ Follow us on LinkedIn: https://www.linkedin.com/company/fpandhey

▪️ Email us your burning FP&A questions at info [at] fpandhey.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.com

"Rise Above The Numbers" by FP&HEY

History repeats itself—even in FP&A careers.

How do you get a history lesson in FP&A?

Listen to other FP&A enthusiasts’ career stories and questions.

We're tapping into the +25k members of the FPandA subreddit for FP&A career stories and questions.

Show Notes

* 00:19 - Mailbag episode—FPandA subreddit here we come

* 00:41 - How someone went from AR/AP to CFO before age 40 🤔

* 03:01 - Braggadocious is a word—and it’s ok to share your career story

* 03:45 - Be intentional—and bust your a$$ to accelerate your FP&A career

* 05:02 - This CFO story is similar to Drew’s—weird how history repeats itself

* 06:00 - Learn how to do EVERY job—that’s how great chefs are born too

* 07:51 - How to spend the little free time you have in FP&A❓

* 09:00 - Balance learning with downtime to recharge—we’re partial to podcasts

* 10:15 - How do you get a SaaS job with no experience—chicken or egg first 🐣

* 10:55 - Use the chip on our shoulder—and highlight interchangeable skills

* 12:20 - Show hustle and curiosity—those types of people are rock stars

* 14:58 - Keep asking questions—people want to help

How to Become a CFO by Age 40

How do we know history repeats itself?

An FPandA subreddit contributor became CFO by age 40.

Drew did the same thing.

And how both got there were eerily similar:

✔️Went to non-target school for undergrad

✔️Worked as a full-time intern while in school

✔️Started out doing work in accounts payable/accounts receivable

✔️Spent a high number of hours working early on

✔️Did not get CPA

✔️Took jobs intentionally to maximize learning and balance earnings

✔️Recognize luck is involved—and making your own luck helps too

This is not the only path to CFO.

But this path is a proven way to get there (because 2 people did it).

Steal things that may work for you.

And avoid things that you don’t enjoy or believe in.

Here’s a longer version of Drew’s career journey story for more things to steal and avoid.

🔥TIP: Here’s how role rotation can help accelerate your career.

What To Do When You Have Downtime

FP&A is synonymous with free time.

Free time is precious.

And it doesn’t come too often in FP&A careers.

How should you spend that time?

Here are some ideas:

💡Get better at Excel by learning shortcuts and new features

💡Listen to podcasts to get perspective and ideas

💡Meet with people at your job you don’t typically work with

Or just chill

Start later, leave earlier, take a longer lunch, go to the gym—find something that helps you recharge.

Whatever you do, don’t waste your free time by avoiding it.

🔥TIP: Here’s why shortcuts are vital to saving you time.

What Comes First, SaaS Experience or Job

It’s the old chicken before the egg discussion.

You need experience to get a job, but how do you get experience if you can’t get a job to begin with?

This happens a lot in SaaS companies.

We landed a job at a SaaS company with Consumer Product experience.

How?

Focus on your interchangeable skills.

For example—understanding revenue performance is required in ALL companies.

We used our volume, mix, and price (VMaP) chops to demonstrate our ability to analyze revenue, regardless of the industry that revenue was in.

Learn about SaaS by reading 10Ks.

And learn about the company your interviewing by spending time on their website.

And overlay all that knowledge with your ability to:

* Do analysis

* Learn new things

* Hustle

🔥TIP: Here’s a guide to help you crush your next FP&A interview.

Conclusion: You Can’t Replace Hustle

Luck is always a factor in success.

But you can make your own luck by hustling constantly.

Keep learning.

Keep finding things you enjoy.

And don’t be afraid to ask others to share their experiences.

Resources

▪️ Follow us on LinkedIn: https://www.linkedin.com/company/fpandhey

▪️ Email us your burning FP&A questions at info [at] fpandhey.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.com

"Rise Above The Numbers" by FP&HEY

Want to take the leap from FP&A Analyst to FP&A Manager?

Show off your FP&A Manager skills early and often.

🔥TIP: Here’s a guide on getting to each FP&A job level.

You never know when that promotion opportunity will come.

For us, it came in the form of a boss leaving.

We were ready and got promoted once we took over.

Show Notes

* 00:41 - Show off mad FP&A Manager skills as an FP&A Analyst

* 01:29 - Key skill to get to FP&A Manager—show ability to manage people

* 03:32 - Getting thrown into an FP&A Manager role requires communication

* 05:30 - Have empathy—and earn your team’s respect

* 06:13 - Show up early, leave late—lead your team by helping 🆘

* 07:10 - Know when to put your guard UP and DOWN—be a filter

* 08:28 - Leadership isn’t always great at communicating—that’s your job🫵

* 10:08 - Help your team learn from each other—create a learning culture

* 11:45 - Athletes make great salespeople—learn what motivates your team

* 12:40 - Manage someone the way you want to be managed

* 13:10 - Practice controllable failure—safe failure = learning

* 15:01 - Practice, practice, practice—it goes a long way

* 16:20 - Talk to people that manage people—they will teach you

Some Get Thrown Into Starting Manager Roles

One way to show off FP&A Manager skills is to do your boss’s job.

Sometimes they take vacation.

Sometimes they leave unexpectedly (like ours did).

Or sometimes they’re injured by a giant linebacker (slide QBs, slide).

Either way, use that window of opportunity to step up.

Lead your team through this difficult time.

While working with your boss’s boss to ensure they get continuity.

You Don’t Need a Team to Practice

Practice makes perfect (sorry Allen Iverson).

How do you practice people management without a team to manage?

Try looking for these opportunities right now:

* Find an intern or new hire and offer to coach them

* Take the lead in a process to practice people and project management

* Offer to lead a weekly team meeting

These things may sound simple.

But trust us, this practice will go a long way in teaching you the skills needed to crush your first FP&A Manager role.

Lead By Example

Showing you care goes a long way.

To do that you can do a few things:

* Before logging off ask your team if they need help

* Do the day-to-day work that FP&A Analysts do to understand what it takes

* Manage people how you want to be managed

Sounds obvious, but your team are people just like you.

Help them achieve their goals by actively participating and supporting their day-to-day work.

Conclusion: Crush Your Manager Opportunity

When the time comes, if you’ve practiced and prepared enough, you’ll be more than ready for that leap from FP&A Analyst to FP&A Manager.

Remember, it takes time to learn any new role or job.

So keep learning, stay humble, and listen to your future team for feedback.

You got this FP&A career thing.

Resources

▪️ Follow us on LinkedIn: https://www.linkedin.com/company/fpandhey

▪️ Email us your burning FP&A questions at info [at] fpandhey.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.com

👋Hey there,

For most FP&A teams, the budget is a distant memory.

But come early August before late summer vacations hit, it will come fast and furious.

Prepare yourself now to make your budgeting process as efficient and effective as possible.

How can you prepare?

Think about company goals, KPIs, and team metrics first.

Tune in to hear about our own budget prep tips (and fails).

Listen on

* Apple

* Spotify

* Substack

It’s All About Goals and KPIs

What does your company want to achieve this year, next year, 5 years from now?

This question isn’t just rhetorical—as a leader in your company’s budget process, you should know what your company’s goals are.

Because when you do, it gives your coworkers autonomy to work towards the same common goal.

Which you’ll help distill into KPIs and metrics.

And come budget time, those KPIs and metrics will be your guide to fund:

* More resources

* Less resources

* Brand new ideas

🔥TIP: Here’s a guide on how to think about KPIs (and metrics).

Show Notes

* 00:21 - Yarty admits Drew is his favorite person—the truth shall set you free!

* 00:46 - What comes first — Targets or Budgets? (Get your coffee ready ☕)

* 01:29 - At GE (General Electric), targets came first—keeps teams focused

* 02:56 - Want your headcount to 4x with flat revenue? Lead with Budget 🆘

* 04:30 - Start with goals—they can become KPIs, targets, then budgets

* 06:05 - Avoid wish lists—not a productive exercise when budget deadlines loom

* 07:30 - Sales will request lower targets—use stretch goals in commission plans

* 08:50 - A critical FP&A skillset is to CHALLENGE your business partners

* 09:29 - Don’t scare the sh#t out of Sales with goals stretched too far

* 10:39 - Understand your sales reps tenure—informs their selling capacity

* 11:35 - Help your company focus on training to ramp up high-quality hires

* 12:50 - Leverage tech like ChatGPT to ideate and educate

* 13:38 - And the winner of Target vs Budget is…

Wishlists Are Dangerous During Budget

There is nothing wrong with wishful thinking.

There’s a time and place to come up with ideas of what’s possible.

That proper time is during your long-term planning cycle, usually when leadership gets together to figure out the 5-year goals of the company.

But during budget season—avoid wishlists at all costs.

Budget season is a time crunch—get tactical by:

✅ Knowing your company goals

✅ Figuring out the KPIs (and metrics) related to those goals

✅ Creating a plan that fits into that framework within reason.

Understand Your Sales Team Members’ Tenure

One useful trick to setting Sales targets is to figure out how tenured your Sales reps are.

You can’t expect rookie Sales Reps to hit the ground running and hit the same quota as your 5-year Sales Team veterans do.

So when your headcount calls for a bigger Sales Team—don’t just assume quota will go through the roof.

Instead, focus on sales enablement.

Which is key to onboarding Sales Reps quickly and maximizing their selling skills.

Good for the company (higher revenue achievement).

And good for the new Sales Rep (more closed deals and higher commission payouts).

Challenge Your Business Partners

Every business partner you work with wants their teams to be fully funded with all ideas approved.

You can’t blame them—you would do the same thing if asked for staffing ideas and software initiatives.

The trick is to challenge your business partners.

Help them balance all the things with an approach that can actually work in practice.

For example, hiring is tough and usually takes longer than you think (plus don’t forget about attrition).

🔥TIP: Here’s how to calculate attrition in your headcount.

Understand what your company’s recruiting capacity is, and in turn help your business partners understand that limitation too.

Stack, rack, and rank priorities.

And many of the low-priority items will fall off.

Which helps your business partners focus.

Conclusion: Success Requires Preparation

In FP&A you can’t avoid the budget process.

But what you can avoid is being unprepared for it.

Start talking about goals, KPIs, and metrics now.

Your future you will appreciate it during budget crunch time 👍

How do you prep for your budget season?

Share your experiences by replying to this. We read and reply to every email.

Now go have fun making an impact on your business and your career!

See you next week 👊

Cheers,Drew & Yarty👉Follow us on LinkedIn

Level up your FP&A game today 👊

Disclaimer: This content is not investment advice or financial advice. The views expressed and stories told are our own. We may be investors in the companies discussed. Do your due diligence when considering applying what you learn.

"Rise Above The Numbers" by FP&HEY

Are you a detailed person?

Details are what drive those numbers on your spreadsheet.

Knowing those details can help you help your company.

Which in turn can help your own career growth.

Tune in to hear how diving into details helped us:

✅Save money

✅Drive revenue

✅Grow our reputation in various FP&A jobs

Details Shmetails

Making up words is easy.

So is making up what you think happened by doing high-level algebra on financial data.

Want to grow your career?

Don’t guess what drives financial performance.

KNOW what drives financial performance.

By diving into the shmetails.

🔥TIP: Here are the FP&A job levels from Analyst to CFO.

Show Notes

* 00:17 - Great FP&A = know the DETAILS

* 01:25 - Being CFO requires knowing the details of cashflow💵

* 02:28 - Growing Sales? Don’t just do algebra, understand what’s driving it

* 03:25 - Use the Pareto Principle to find budget errors

* 04:59 - Whitespace is a GREAT example of details leading to operational finance

* 06:01 - Profit forecasting will help you learn the details of revenue and expenses

* 07:20 - Use your cable bill as a way to learn details and do something about it📺

* 08:35 - Looking for savings opportunities? Renegotiate your contracts.

* 10:01 - Use P&L data you already have to dive into the details and learn

* 11:01 - Cost centers and accounts are created for a reason

* 11:44 - Big detailed finish —guess what we talk about? DETAILS💥

CFOs and Cashflow Must be Tight

Do you know what keeps most CFOs up at night?

Their bank account’s cash balance.

Questions a CFO must be prepared to answer EVERY week:

* How much accounts payable is due?

* What’s my payroll balance?

* How much money am I going to collect?

* What money will I have in the bank by weeks end?

How do you answer these questions?

Dive into the details.

Invoice aging, payroll waterfalls, hourly tracking, and accounts receivable aging reports are just a few ways to get the details.

🔥TIP: Analyze those details with simple data tables and look-ups.

Practice by Analyzing Your Personal Finances

What do you spend your money on?

Some of those things may be negotiable or can be switched out for something cheaper.

Like your cable, phone, insurance, etc…

Understand what savings are possible by diving into the details.

You may surprise yourself.

Then do this same exercise for your company.

Profit Forecasting Forces You to Learn

Want a crash course in your company’s financial details?

Run their profit and cash forecasting process.

Because you’ll be accountable for hitting a certain revenue, profit, and cash target.

How can you hang your reputation on something that accountable?

Know the shmetails.

🔥TIP: Here’s a guide to profit forecasting.

Conclusion: You’ll Crush FP&A w/ Details

Take the extra time to learn what’s underneath those numbers in spreadsheets.

You’ll learn your business faster.

You’ll help a bunch of people hit their company goals (hello network opportunity).

And help yourself accelerate your FP&A career🫵

Resources

▪️ Follow us on LinkedIn: https://www.linkedin.com/company/fpandhey

▪️ Email us your burning FP&A questions at info [at] fpandhey.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.com

"Rise Above The Numbers" by FP&HEY

In this episode, we sat down with FP&A guru Carl Seidman.

Carl’s 20+ year FP&A career is far from linear📈

Some things he’s done so far:

* Founded a fractional CFO company called Seidman Financial

* Has trained thousands of FP&A professionals around the world

* Has a BIG following on Linkedin—which wasn’t planned

* Partied w/ Mike Tyson

* Is a proud dad of twins

And all of this started years ago playing guitar, bagging donuts, and majoring in health sciences.

🔥TIP: Here’s why FP&A could be a good career choice for you.

Takeaways from Carl’s Interview

* It’s ok to take steps back, Carl switched majors in school from medicine to business…imagine Carl’s LinkedIn presence as a fractional dentist 🦷

* Don’t think of life as a series of wins or losses, rather think of them as successes or learning opportunities that help you grow.

* Be kind to yourself and have ONE goal in mind each day, your to-do list will keep growing and it’s easy to see failure at the end of each day.

* Start your career learning evergreen skills that apply to a number of disciplines—like communication, professionalism, and managing people/processes.

🔥TIP: Here’s a guide to presenting financial info.

* Over time learn what comes naturally to you and what others value—double down on those things.

* Have a “figure it out” mentality when starting your own business or starting a new job.

* Book recommendation, SAPIENS by Yuval Noah Harari.

* Working from home is the best commute—but super challenging if you don’t structure your time and try to weave personal and work time together.

Show Notes

* 00:32 - Started a fractional CFO biz and can memorize 60+ names at a time—NBD

* 02:27 - FP&A careers can start by playing guitar and bagging donuts🍩

* 07:35 - Taking steps back can lead to long-term gains

* 12:23 - Think of your career as 2-year chapters

* 14:20 - Collect skills—they are your greatest FP&A career asset

* 15:18 - It’s not win or lose—it’s succeed or learn💪

* 18:55 - Communication and professionalism are evergreen skills

* 20:35 - Starting a business is HARD—need a “figure it out mentality”

* 25:30 - Be the dumbest person in the room—listen and learn

* 27:28 - Understand the people and processes behind the numbers

* 29:00 - Whiteboard your deliverables to stay organized —what, when, context

* 30:45 - What comes naturally to you that’s valuable to others? Double down

* 32:48 - Working from home requires structuring your day

* 35:20 - The list of to-do’s never ends—set achievable goals each day🎯

* 38:20 - Anticipate to avoid surprises, and be kind to yourself when chaos happens

* 44:10 - Careers aren’t linear—what’s important now may change

* 47:00 - Start your day thinking not doing

* 49:58 - You will not fail even if you take steps back—you are resilient

* 51:55 - Table functionality will save you A TON of time working in Excel

* 53:25 - Minimize vulnerability when building your work product

* 54:55 - Parties with Mike Tyson and towers of shellfish are the best🦐

* 56:35 - Great bosses and companies invest in their people via training

* 58:55 - Be as loyal as you can be until that is not reciprocated

Conclusion

Carl doesn’t have his entire career figured out—and he’s 100% ok with that.

He takes his life and career one chapter at a time📖

Each chapter helps him build knowledge assets, create relationships, and constantly assess what the next chapter could look like.

All of this requires humility, hard work, and resilience.

You can find Carl on LinkedIn.

And maybe hanging with Iron Mike at some fancy event🥊

THANK YOU Carl for sharing your career story with us.

Resources

▪️ Follow us on LinkedIn: https://www.linkedin.com/company/fpandhey

▪️ Email us your burning FP&A questions at info [at] fpandhey.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.com

"Rise Above The Numbers" by FP&HEY

We sat down with Cube Software’s CFO Ed Bush in this episode.

Ed’s path to CFO has been more philosophical than most.

Here are some things he’s done so far:

* Started as a philosophy major

* Sang in Johnny Legend’s acapella group

* Finance hire #3 at WeWork

* Became CFO of an FP&A software tool called Cube

He’s also a husband, dad, and avid marathon runner.

Takeaways from Ed’s Interview

* Having a philosophy background is SUPER helpful as your career progresses, especially as a people manager and business leader.

* Most of the ideas people have aren’t their own, rather they are a repackaging of other people’s ideas that they came across at some point in their career.

* What makes you successful as an FP&A analyst differs from what makes you successful as an FP&A manager—the same goes for every level up to CFO.

🔥TIP: Here’s a guide to navigating the FP&A career levels from Analyst to CFO.

* Grit, fortitude, and the willingness to take on projects you have no experience with will help you accelerate your career more than any degree or certificate.

* Balance looking ahead at predictable skill growth without being too rigid—be open to completely different experiences that will widen your skillset.

* Every twist and turn of your career can serve you well, no matter how scary—it’s all about having the right mindset.

* Carving out time when you are actively not trying to be productive is a great productivity hack—running is one way to do this.

* Be active in communities and ask silly questions—you’ll be surprised at how willing people are to share their own experiences.

* If you want to rise in your career you need to do things outside of your comfort zone.

* Book recommendation, How to Do Nothing by Jenny Odell.

* When presenting to a large audience DO NOT convey too much information—people will remember 1, maybe 2 things that you say max.

🔥TIP: Here’s how to present financial information.

Show Notes

* 00:46 – Ed opened for John Legend—yep this is not a typo🎤

* 02:50 – The path from individual contributor to CFO is NOT straight

* 03:45 – Consulting was a good entry point for a liberal arts background grad

* 05:03 – Surround yourself with smart, motivated people

* 05:49 – From philosophy major to being finance hire #3 at WeWork

* 06:50 – Take 1 question and think about the 100 questions behind that question

* 08:13 – Want to be CFO? Remind yourself to think less and less about finance

* 09:36 – High-potential candidates have experience operating in a world with constraints

* 12:12 – Entering and leaving college without knowing what you want to do happens

* 13:30 – OPPORTUNITY ALERT—CFO asks you to start a data team from scratch

* 16:27 – CFOs take their knocks too—the key is to learn from them

* 18:50 – Start measuring your impact on your company, not the number of hours you work

* 21:09 – Ask stupid questions all the time—it’s how you learn

* 23:11 – Remind yourself to do things outside of your normal day-to-day

* 25:36 – Not everyone wants to be a manager or CFO—there are many career paths to take

* 27:22 – Saving time in spreadsheets = productivity, that’s why I work for and love using Cube

* 28:56 – If you can spend time together in person with your team just do it—they will be remembered

Conclusion

Ed is comfortable being uncomfortable.

Taking leaps across career paths and disciplines has stretched him into the CFO he is today.

Building relationships in communities, always asking questions, and actively taking time away from spreadsheets have all had a BIG influence on who he is as a leader today.

You can find Ed on LinkedIn.

And given the twists and turns in his career, you may also find him at your local concert venue jamming out with a legend (like Johnny).

THANK YOU Ed for sharing your career story with us.

Resources

▪️ Follow us on LinkedIn: https://www.linkedin.com/company/fpandhey

▪️ Email us your burning FP&A questions at info [at] fpandhey.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.com

👋Hey there,

It’s budget season.

And next year’s targets are being set to support the budget.

Some of you are changing targets faster than a pit crew changes car tires.

Believe us, you are not alone.

It’s a normal part of the budget process.

And there are things you can do to minimize the number of tire changes.

Tune in to hear about our own target-setting endeavors.

When Setting Targets, Think of Incentives

Sales Targets become KPIs.

🔥TIP: Read this to learn what KPIs (and metrics) are.

And KPIs become the benchmark for incentives (aka commissions and bonuses).

Make sure your targets line up with your business goals.

And that your various departments' targets connect so that they all work together.

Show Notes

* 01:30 - Sales targets motivate salespeople to sell (no kidding)

* 02:10 - Balance stretch goals with reasonable ones, avoid demotivation ⚠️

* 02:55 - Get grounded in your sales history

* 03:30 - Keep Sales (aka Revenue) simple—volume, mix, and price🔥

* 04:10 - PLEASE PLEASE PLEASE, talk to your Sales Teams for their input

* 05:30 - Listen to Sales Rep calls for rapid learning about your selling motion

* 06:14 - Understand what performance story your CFO and CEO want to tell

* 07:33 - AVOID presenting targets that NOONE recognizes or demotivates

* 08:23 - Leverage mind maps to visualize your thinking and get organized🧠

* 10:15 - The key thing about FP&A is we’re always evaluating our performance

* 11:00 - Be an advocate for your Sales Team

* 12:15 - Sales Target setting is NEVER perfect, keep learning and improving

Conclusion: Keep Learning and Advocating

Your budget process and Sales Target-setting won’t be perfect.

* You’ll deal with new people

* May have new company goals

* OR you may be in an entirely new company

Lead with learning.

By talking to your Sales Team and leadership.

And leverage those Excel and numbers skills to help them connect their selling goals to the financial scoreboard.

You got this 💪

Disclaimer: This content is not investment advice or financial advice. The views expressed and stories told are our own. We may be investors in the companies discussed. Do your due diligence when considering applying what you learn.

"Rise Above The Numbers" by FP&HEY

How much free time do you have?

Many have little if any.

That’s why focusing on saving time now is so important.

🔥TIP: Excel shortcuts will save you hours each week.

Because at some point an opportunity will present itself.

It may look like someone:

* Leaving the company unexpectedly and you fill that gap

* Being promoted and you take on their job

* Asking for help and you step in to support

All of the above has happened to us.

And many of these opportunities were unplanned.

Show Notes

* 00:30 – doing other people’s jobs will happen, it will be unplanned, and you can get through it

* 01:11 – only take on the challenge if you can handle it – assess your situation

* 01:45 – we’ve gone from solo contributor to doing the jobs of 5 people

* 03:30 – you’re only as good as your team and support structure – plan and communicate your approach

* 04:35 – the silver lining of people leaving – you learn💡

* 05:00 – the growth mindset helps to get through taking on more than your original scope of work

* 06:10 – stepping up to take on more can lead to future opportunities like working with leadership

* 06:50 – sometimes your manager will leave and the opportunity to lead is in front of you

🔥TIP: Here’s how to crush your first 6 months as an FP&A manager.

* 08:25 – you will get beat up and you will experience failure – all lead to learnings

* 10:10 – stepping up and taking on more may or may not make sense depending on what your goals are

Conclusion: Opportunities Make or Break Your Reputation

You will get opportunities in your career.

How you take them on will feed your reputation.

Reputation takes a lifetime to build up.

And as you build your reputation, the number of opportunities you get goes up📈

Become an opportunity magnet, and over time be selective in the ones you take on.

Resources

▪️ Follow us on LinkedIn: https://www.linkedin.com/company/fpandhey

▪️ Email us your burning FP&A questions at info [at] fpandhey.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.com

👋Hey there,

Thousands of people read this newsletter and listen to this podcast.

Some work in FP&A for the biggest companies in the world.

And some are the only Finance, Accounting, HR, and Legal person at their small company (so many hats to wear) 🎩

So what’s better, working for big or small companies?

Our insanely vague answer is…it depends.

Each job presents unique learning and networking opportunities.

And the order in which you take them in your career doesn’t matter either.

This episode is about our experience working at the biggest companies in the world.

AND some of the smallest companies in the world.

Listen on

* Apple

* Spotify

* Substack

Experience Comes in All Shapes and Sizes

Big, small, public, private, well-known, and completely under the radar.

These words best describe all the companies we’ve worked for and with.

There was no perfect size or type of experience.

Each company offered unique learnings that set us up for the next thing.

Here’s the order we went in and what we learned along the way.

Show Notes

* 00:30 – all it takes is a blow-up swimming pool to make kids (and adults) happy

* 00:55 – FP&A can be a very different animal in large vs small companies

* 02:00 – starting at large companies, like GE or P&G, gives you role rotation options

🔥TIP: read this to learn why role rotation can be a career accelerator

* 02:40 – journal entries help you understand business drivers, which help you drive results

* 04:15 – large and mid-size companies offer business partner roles (think Sales, Marketing, R&D, Operations)

* 04:55 – FP&A is planning for the future while understanding today and using the past as a history lesson

* 05:50 – the smaller the company, the bigger the scope of work

* 07:01 – small company CFOs have to make decisions that can make or break their company every day

* 09:30 – small businesses require focus – and cash is most important because it pays the bills

* 09:55 – doing an IPO and working in larger companies can grow your network exponentially

* 10:55 – like we always say, jump on sales calls to learn about your business

* 12:20 – advice we received early in our career—walk the production floor

* 13:20 – the big finish—no one career path is the same, so keep learning and do what fits your life situation

We Started at Very Big Companies

GE (General Electric) and P&G (Procter and Gamble) are giant companies.

The odds are that you use many of their products daily.

Big companies did something for both of us early in our careers that accelerated our learning and promotional track.

Role rotation.

Role rotation required us to take a job for a year and then take a different job the next.

Each job had a very specific scope.

For example:

* Start as a Plant Accounting Co-op/Intern

* Transition to systems implementation project team

* Then become the Regional Profit Forecaster of a brand

* And finally, become a Global Profit Forecaster, forecasting a collection of brands

All of the above in 6 years.

We’re exhausted just thinking back to those years.

We worked long hours and connected with a lot of people.

Which eventually helped us leave our big company jobs and test out the mid-size company waters.

Then Dove into Mid-Size Companies

Mid-size companies offer a bit more variety when it comes to scope.

Our experience was with fast-growing companies that were hiring rapidly.

What’s the most important thing we offered when we splashed down at our cube for the first time?

Connecting financial results to everyday business activities.

Without that connection, financial performance becomes disconnected from the goals of the company.

And all that hiring and spending can start to drift away from achieving the actual goals of the company.

This is where business partnering roles come into play.

Consider them mini-CFOs who own:

* Collecting info

* Understanding what it means

* And providing recommendations

All to ensure the goals of the company are achieved.

The skill set to be a business partner is clear communication with the ability to get relevant information very quickly.

This skill set served us well when transitioning to the next jobs we took on, which would be considered small companies.

Small Companies Are a Humbling Experience

The scope of roles in small companies is humungous.

Which can make it hard to describe what you’re actually doing on a daily basis in one sentence.

Preparing for an IPO is a good example.

* You need to tell the performance story

* You need to understand how that performance was achieved

* You need to be part of the goal setting

* You need to communicate those goals clearly to everyone in the company

Don’t understand how your business works or how your coworkers tick?

Your chance of success (aka business performance meets or exceeds expectations) will be low.

And because you are likely one of a few (if not the only) FP&A team members, all of this responsibility can fall on you.

The same goes for being CFO of a small privately held company.

Cash flow, customer orders, inventory levels…you must have a handle on all these metrics every week to ensure the business can keep operating.

Conclusion: What We Learned by Going from Big to Mid to Small

At every company size, you will learn as much as you are motivated to.

Go into each opportunity like a sponge.

You’ll meet some amazing people.

Help them do their jobs.

And they will help you.

That network of people may lead to your next job opportunity (it did for us countless times).

And above all else, make sure you enjoy what you do.

Being interested in what you're doing, who you work for, and what customers you serve matters most 👊

What size company do you work for today? And how has your experience been like?

Share your experiences with us by replying to this. We read and reply to every email.

Now go have fun making an impact on your business and your career!

See you next time 👊

Cheers,Drew & Yarty👉Follow us on LinkedIn

Level up your FP&A game today 👊

Disclaimer: This content is not investment advice or financial advice. The views expressed and stories told are our own. We may be investors in the companies discussed. Do your due diligence when considering applying what you learn.

"Rise Above The Numbers" by FP&HEY

Who here likes to fail?

No, this isn’t an April Fool’s joke.

Failing leads to serious learning.

It can also lead to serious reputation hits.

And not just for you, but your team too.

Fail responsibly, by failing small and setting you and your team up for controlled failure.

Show Notes

* 00:26 – doing bicep curls while recording a podcast is one way to stay in shape

* 01:01 – controlled failure = allowing your team to take risks and fail while minimizing the consequences

* 02:20 – new hires will fail a lot—help them do that while helping them grow a positive reputation

* 03:45 – create a space that feels like the big game—there’s no experience like game day experience

* 04:50 – don’t expect people to hit the ground running—make it your mission to improve their chances of success

* 05:45 – bridge new analysis with old analysis to help you and your boss understand what changed and why it changed to get buy-in

* 07:50 – confidence compounds over time—make it your mission to instill confidence in your team early and often

* 09:15 – great football players (even Tom Brady) need teams to succeed—you as an FP&A leader are no different

* 09:55 – invest in leveling up your team and retaining top talent

* 10:30 – great ideas are out there to do things better—pay attention and ferociously learn about them

* 11:15 – challenge yourself to learn one new thing each day—that learning will compound over time

* 11:55 – wrapping things up—practice controlled failure to build skills, build confidence, build high-performing teams that consistently improve

Resources

▪️ Follow us on LinkedIn: https://www.linkedin.com/company/fpandhey

▪️ Email us your burning FP&A questions at info [at] fpandhey.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.com

Disclaimer: This content is not investment advice or financial advice. The views expressed and stories told are our own. We may be investors in the companies discussed. Do your due diligence when considering applying what you learn.