👋Hey there,
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
Listen on
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
- 00:17Â – 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
- 03:25Â – Use the Pareto Principle to find budget errors
- 04:59Â –Â Whitespace is a GREAT example of details leading to operational finance
- 06:01Â –Â 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📺
- 08:35Â – Looking for savings opportunities? Renegotiate your contracts.
- 10:01Â – Use P&L data you already have to dive into the details and learn
- 11:01Â – 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 lookups.
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, streaming, 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🫵
What details helped you learn about your business and grow your FP&A career?
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 time👊
Cheers,
Drew & Yarty
👉Follow us on LinkedIn
Level up your FP&A game today 👊
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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.
