Soufyan Hamid, FP&A leader, and Matthew Herbert, Chewy Director of Finance, discuss the importance of storytelling in FP&A. They cover topics such as transitioning from numbers to storytelling, the gap between perception and reality in storytelling, actionable tips for presentations, and the significance of providing insights in FP&A.
Crafting a compelling FP&A story involves focusing on the what, why, emotional impact, and action steps for a clear message.
Engaging stakeholders by considering their needs and tailoring financial analysis narratives can influence decision-making.
Handling questions with agility, preparedness, and transparency during and after presentations is vital for effective communication.
Deep dives
Key Elements of a Winning FPNA Story
When crafting a compelling FPNA story, it is crucial to focus on the three whats: what happened and why, the emotional impact or so what, and the action steps or now what. By structuring your narrative around these three elements, you ensure a clear message that resonates with your audience. Limiting the number of points to two or three that people will remember from the presentation helps in providing impactful insights. This approach helps in communicating effectively by presenting the root causes, emotional significance, and actionable recommendations in a concise and engaging manner.
Engaging Stakeholders Effectively
Engaging stakeholders effectively is essential in driving action within an organization. Considering the audience's needs and perspectives while presenting financial analysis narratives is crucial. By understanding the viewpoint of different stakeholders and tailoring the story to resonate with them, finance professionals can influence decision-makers and facilitate meaningful discussions. Encouraging dialogue and soliciting feedback during presentations allow for a more interactive and productive exchange of ideas.
Handling Questions During and After Presentations
Handling questions during and after presentations requires agility and preparedness. Remaining open to questions throughout the presentation allows for interactive discussions and addresses any immediate concerns raised by the audience. Practicing techniques such as the 'boomerang technique,' which involves redirecting complex questions for further analysis offline, helps manage challenging queries effectively. Admitting when you don't have an immediate answer and offering to follow up demonstrates transparency and a commitment to providing accurate information.
Delivering an FPNA Story Effectively
Delivering an FPNA story effectively involves understanding the audience's expectations and adapting to their preferred communication style. Clarifying the purpose of the presentation, engaging various stakeholders, and being receptive to feedback are key elements of successful delivery. Incorporating a structured format, such as situation, complication, resolution, or the 'what, so what, now what' framework, helps in maintaining a cohesive narrative flow. Anticipating potential questions and familiarizing oneself with relevant details enhances confidence during presentations.
Connect with the Speakers for Further Insights
For more in-depth insights or questions regarding FPNA storytelling, you can connect with the speakers, Sufjan and Matthew, on LinkedIn. Their expertise and experience in financial analysis and storytelling can provide valuable guidance in enhancing your FPNA skills and presentation techniques. Don't hesitate to reach out for additional support and to continue learning and refining your storytelling abilities in the field of finance.
A compelling FP&A story is essential. In this second (and final) session from FP&ACon 2024, Glenn hosts Soufyan Hamid, FP&A leader for 16 years who runs the Financial Storytelling Program, and Matthew Herbert, Chewy Director of Finance.
First poll: How confident are you in your ability to craft a compelling FP&A Story:?
The move from numbers to storytelling
Soufyan on why the finance director was always frustrated by my business presentations (when I was even invited to meetings)
By contrast Matthew was forced to get to grips with storytelling early in investment banking (but faced a different challenge as an FP&A business partner at Walmart)
The gap between perception and reality in our storytelling
When information becomes insights
The connection between business partnering and storytelling
What (selfishly) do FP&A pros get by developing storytelling skills?
Remember you are not giving a TED Talk
The 5 Points that FP&A Pros Most Struggle with in their Storytelling
