Tools, Shortcuts, and Automation Tradeoffs

In this episode of Financial Modeler's Corner, host Paul Barnhurst (aka The FP&A Guy) welcomes Carl Olson, a seasoned finance leader with over two decades of experience in FP&A, consulting, and startup finance. Carl discusses the nuances of financial modeling in both startups and large companies, sharing war stories, practical frameworks, and the lessons learned from building models that drive real business decisions. Whether it's simplifying startup forecasts or navigating layers of corporate planning, Carl emphasizes the importance of context, communication, and staying aligned with business partners.

Carl Olson is a finance consultant and strategic advisor with more than 20 years of experience in FP&A, startup modeling, and enterprise finance. His background includes roles at Jamba Juice, Yelp, Unity, and several startups. Carl specializes in building operating and strategic models, guiding fundraising efforts, and helping businesses link financial modeling to real-world execution.

Expect to Learn:

• How financial models differ for startups vs. large companies
• Why listening to business partners is essential for model effectiveness
• How to test assumptions when historical data is limited
• The danger of over-automation in modeling
• What makes a model usable vs. impressive

Here are a few quotes from the episode:

• “If your sales model shows unrealistic rep productivity, that’s a red flag.” - Carl Olson
• “Meet your business partners where they are, not where you want them to be.” - Carl Olson
• “Use industry benchmarks, but know your secret sauce.” - Carl Olson

Carl Olson shared honest and practical insights from years of building financial models across startups and large companies. He reminded us that the real value of a model comes from how well it supports decision-making and helps the team move forward. His approach to keeping things simple, clear, and business-focused is something every finance professional can learn from.

Follow Carl:

• LinkedIn - https://www.linkedin.com/in/olsoncarl/

Follow Paul: 

• Website - https://www.thefpandaguy.com   
• LinkedIn - https://www.linkedin.com/in/thefpandaguy  
• YouTube - https://www.youtube.com/@thefpaguy8376  

Follow Financial Modeler's Corner  

• LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true  
• Newsletter - Subscribe on LinkedIn-https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register. 

In today’s episode: 

[01:12] - Introduction of Episode

[02:02] - Carl’s Worst Modeling Experience

[06:43] - Rebuilding a Model from Scratch

[10:36] - Startup vs. Corporate Modeling

[12:57] - Big Data to Startup Forecasting

[15:09] - When Mistakes Go Unnoticed

[22:42] - Finding Gaps Through Modeling

[29:41] - Using Excel for Personal Life

[30:47] - Carl’s Favorite Excel Shortcuts

[33:32] - Rapid Fire: Tools, Preferences, and Advice

[36:24] - Avoiding the VBA Trap and Growing in Your Career

[40:38] - Carl’s Closing Advice for Financial Modelers