Turn Data Into Insights Into Action

Hello and welcome... to our weekly newsletter, where we share 3 things weekly to help you become a great FBP.

This week those 3 things are:

- Turn Data Into Insights Into Action

- How Do Extroverted Thinking Types Behave?

- Upcoming programs and clients

And don't forget, theFBPteam is here to help you develop a highly engaged and commercially strong finance team that other functions want to work with.... book in a call to see if we can help.

Turn Data Into Insights Into Action 

One of the most important things to get your head around if you are looking to turn data into something people can actually action is this.....

Data causes calculations

Action comes from conversations

And Insights comes from both

What does this mean?

Often finance professionals spend all of their time in the data.

Analysing things to within an inch of their lives, down to row 28,000 of the spreadsheet.

Only to see that fall flat when they present or circulate it to non finance.

Something like "if margins continue to deteriorate in line with trend it will cause a $x drop in profit"

That's interesting, but means nothing and doesn't lead to action

The inevitable response is often something like "theroretically this is right but you have not considered context or helped us work out what to do about it"

To avoid this, spend more time having conversations with people about what they need help with and solved first.

Then go to the data

Then go back to them and have more conversations

And derive the Insights from both.

Then get them to present and make the decision about what next.

Everyone will see you as insightful and you have done less work.

How do Extroverted Thinking types behave?

In our last newsletter I spoke about Introverted Thinkers. A fair chunk of finance people.

This time around its the Extroverted Thinkers time.

The typical extroverted thinker can be quite tricky to deal with, especially for finance types

They are very driven, motivated, competitive. And they speak in a manner that is direct and sometimes blunt.

They want action and things to happen. And they are just after the headlines. Not the detail like most finance people want to delve into.

Like the Wolf in Pulp Fiction - "I think fast, I talk fast and I need you to act fast to get out of this"

If this sounds like you that's great. But not everyone else has a preference for it

If it doesn't sound like you, that's great too. Unfortunately there are others who do prefer it like that.

Either way being able to recognise your audience and adapt to it is how you become more effective.

If you are dealing with an extroverted thinker, you only need to provide the high level, the summary.

Don't go into details. Be brief, be bright and be gone.

Tell them what they need to know - then make sure they feel like you are all over it, and if you need their help, you will let them know.

No need for big long chats about their feelings either. Just get on with it.

Pretend you are dealing with The Wolf (see above)

Upcoming FBP Programs & Clients

Over the next month we have two options for you for some CPD on FBP......

FBP Bootcamp (FREE)

Wednesday 20th March

Its still three weeks away but our FBP Bootcamp is on again on 20th March (19th if you are in the UK or US).

Totally free 60 minute session to help point you in the right direction about what FBP is, what it is not and why I personally believe it is the number one thing Finance needs to develop for themselves and their organisation

Signup below by clicking the link

FBP Accelerator ($AUD 1,349)

Thursday 7th March

Unfortunately this is now sold out

But don't worry we are working with CAANZ on our next program later in the year.

So if you don't want to miss out and want to be put on the wait list, let me know and once we finalise the next program we will let you know first

Recent Client Wins

In our last newsleeter I spoke to some recent client wins and programs we have been working on. 

And I got a lot of feedback that people were keen to hear more so here goes.

Dubai based Luxury Retailer - Our friends in the Middle East have just signed up to an extended program we will be dlievering in Q2. It has been a pleasure working with this team and now we will be getting into the more advanced techniques of business partnering

Large Energy Infrastructure Providers - Next week sees us kick off our first program with one of Australia's largest energy providers.  This is a program I have been working with the Head of Finance on for quite some time and it is exciting to finally begin. Although it's an initial pilot I look forward to with the entire team in the near future.

Large Global Infrastructure Group (UK/EUrope/Mid East/ANZ) - we will also be kicking off our third program for one of the worlds largest infrastructure groups. Three cohorts run concurrently from the UK all the way to Australia. This is one of my long standing clients that found its way to Europe following the job we did in ANZ. We now run this annually for them.

If your team wants to upskill just get in touch and we can customise a program that helps develop the skills your organisation needs from finance.