Rise Above The Numbers

"Rise Above The Numbers" by FP&HEYWant 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* SubstackShow 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 financePresent Financial Info with ConfidenceNumbers 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 downFrom 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 FinanceHow 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 ResultsWhat 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 ReputationEducate 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.comThis is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.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&HEYThe 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 RoadThere is no set path to go from ZERO to FP&A hero.It requires:* Being humble* Constantly learning* Understanding what you wantAnd 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 helpWhy 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❌ OperationsIt 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 DirectorFull 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 themThink 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 BackYou 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 ThereAsk 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.comThis is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.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&HEYThis 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 enjoyConclusionAnnette 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.comThis is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.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&HEYWant 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 DeskGuess 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 WellYour 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 thresholdsHow 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 TeamDo these things to help your Deal Desk thrive.Assess new deal revenueSurprised 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 profitabilitySaying 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 CoverageSales 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 PowerfulCreating 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.comThis is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.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&HEYWant 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: MimecastThink 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 investorsFind 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 RateYour 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 periodNOTE: companies will have different approaches to constant currency reporting, the above is one example.2. Average Product CountsYour 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 StoryIn 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.comThis is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.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&HEYWant 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 promoterWhy Doing Extra Financial Analysis Helps Your Career15 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 opportunitiesYou 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 CashflowCash 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 progressSometimes 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 ClarityWithout 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 AnalysisYou 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 CareerYou 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.comThis is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.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&HEYWant 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 lineProduction lines transform them into finished goodsDistribution areas pack and ship those finished goods to customersAbandon 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 IndustriesEvery 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&AFP&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.comThis is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.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&HEYWant 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 skillsWe 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 operationsThe 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 CurveThink 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 JobYou will be given tasks like:* Variance analysis* Expense management* ReportingRise 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 YouEveryone 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 ScopeAs 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 CurveGetting 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.comThis is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.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&HEYWant 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 friendWhat 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 paymentsEveryone in your company has a vested interest in your Sales Team’s success.Ways to Help Your CRO (and CFO) SucceedYour 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 TeamDoing 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 PerformanceSales 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.comThis is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.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&HEYWant 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 doesWhat 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 FriendsBuilding 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 ZoneHelp 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.comThis is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.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&HEYWant 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 Notes00:40 - We turned around a profit forecast in 2 days (for real)01:30 - What a first-time forecaster in a F100 FMP program looks like03:59 - Efficient profit forecasts take into account data, people, and process04:55 - Don’t let too many people edit the forecast, sh#t gets confusing05:29 - Use your accounts to assign ownership of spending drivers06:48 - Marketing spend is the Wild West, but it can be tamed08:09 - Having a globally distributed team is a BIG advantage to save time09:35 - Give people the roadmap of the forecast process, it’s empowering11:15 - Ask “why” you do things, will help remove wasteful time12:45 - Mind mapping is INSANELY useful to visualize a profit forecast process14:25 - Ultimately the stakeholder is your CFO and CEO, help them help you15:35 - Big finish summarizing how to shorten the time it takes to forecastWhat 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 metricsWhy 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 ForecastA 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 onlyMinimize the number of department owners you work with to review forecast assumptionsAssign 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 toolConclusion: You Just Leveled-up Your Forecast GameYou 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.comThis is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.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&HEYToday'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 helpWhat 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 HeardYou 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 WorkYou 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.comThis is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.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&HEYWant 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 awesomeWhat 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 OnTry 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 OnAssess 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 MachinesJump-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.comThis is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.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&HEYToday'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 MattersResults 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 ProcessYour 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 ExcelExcel is your work surface in FP&A.Lose the mouse.🔥TIP: Learn Excel shortcuts to crush your FP&A requests#2 Communicate with AccountingAccountants 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 AnalysisDon’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 SuckGet 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 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 roleIf 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. 👊 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