FP&A Tomorrow Strategic FP&A Moves That Transform Businesses With Josh Aharonoff
Welcome to FP&A Tomorrow, where we discuss financial planning and analysis, examining its current state and future prospects, with your host Paul Barnhurst.
In this episode of FP&A Tomorrow, host Paul Barnhurst delves into the dynamic world of financial planning and analysis (FP&A). He is joined by Josh Aharonoff, an experienced finance professional who has navigated the complexities of FP&A, accounting, and entrepreneurship. The conversation offers insights into the current state of FP&A and its evolving future, with practical advice for both aspiring and seasoned finance professionals.
Josh Aharonoff is a seasoned finance expert with a background in accounting and a wealth of experience in both big four accounting and startups. After obtaining his CPA and working in global banking services, Josh ventured into entrepreneurship, co-founding a startup and later establishing his own firm, Mighty Digits, specializing in outsourced finance and accounting services. Josh is also a prominent figure on LinkedIn, with nearly 400,000 followers, and runs a popular daily newsletter and YouTube channel.
Here is a summary of the key points from the discussion:
- Understanding what makes financial planning and analysis effective and impactful.
- Josh’s professional journey from big four accounting to entrepreneurship and becoming a fractional CFO.
- Insights into the chaotic yet rewarding environment of early-stage companies.
- Essential technical and soft skills needed to excel in financial planning and analysis.
- How to leverage social media for professional growth and its impact on career opportunities.
Quotes:
Here are a few relevant quotes from the episode
- "Great FP&A is quick access to data that does not conflict with one another and easy inputs to see different scenarios, different outcomes." - Josh Aharonoff
- "If you're working for someone and you're thinking of going off on your own, it's a good idea to try to pick up some clients while you're still working." - Josh Aharonoff
- "In FP&A, it’s crucial to understand how to put together a forecast that not only tells the future but also showcases the past and allows you to easily tell the story of where the company has been." - Josh Aharonoff
- "People think that you create a financial model once. Okay, now you're done with it. In reality, every single month you should be updating your assumptions. You should be analyzing what exactly took place." - Josh Aharonoff
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Follow Josh:
LinkedIn - https://www.linkedin.com/in/joshaharonoff/
Website - https://www.mightydigits.com/
Follow Paul:
Website - https://www.thefpandaguy.com
LinkedIn - https://www.linkedin.com/in/thefpandaguy
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For CPE credit please go to earmarkcpe.com, listen to the episode, download the app, and answer a few questions and earn your CPE certification. To earn education credits for FPAC Certificate, take the quiz on earmark and contact Paul Barnhurst for further details.
In today's episode:
[01:38] Introduction to the show and welcoming the guest
[02:14] Josh shares his perspective on what constitutes great financial planning and analysis.
[02:44] Josh discusses his career journey, from big four accounting to starting his own firm.
[05:31] Josh explains why he enjoys working with startups and the unique challenges they present.
[06:54] Josh shares memorable experiences with clients, particularly with the company Chili Piper.
[09:25] Josh reflects on why big four accounting wasn’t the right fit for him and what he learned from the experience.
[15:51] Discussion on the biggest challenges of working with startups, including fundraising and constant evolution.
[21:48] Josh offers advice for those looking to start their own advisory services.
[26:05] Josh talks about his favorite aspects of working in FP&A.
[34:55] Josh shares his journey of growing a significant following on LinkedIn and being recognized as a top voice.
[40:12] Josh discusses his recent recognition by Microsoft and what it means to him.
[41:25] Quick insights into Josh’s technical and soft skills, favorite tools, and personal preferences.
[50:53] Information on how listeners can reach out to Josh and learn more about his offerings.