Bonus Episode 62: Making Sense of Numbers: Simple Communication in Finance is Best

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Ever feel overwhelmed by the sheer volume of numbers and metrics in finance? Imagine how your audience feels! Join me as I briefly explain the art of providing high-value, simple yet powerful financial analysis. Guaranteeing clarity, I will guide you to focus on the fundamentals, stripping back unnecessary complexity and enhancing the impact of your communication.

We all know how counterproductive overloading information can be. It's high time we learned to deliver top-notch analysis in fewer words. Listen in as I share insights into understanding your audience, answering only what's asked, and eliminating anything that doesn't add value.

Please connect with me on:

1. Instagram: stephen.mclain
2. Twitter: smclainiii
3. Facebook: stephenmclainconsultant
4. LinkedIn: stephenjmclainiii

For more resources, please visit Finance Leader Academy:  financeleaderacademy.com. 

1. On the website, you can download the Become a Finance Leader Guide. You can use this guide to build your Finance Leadership skills so you can help senior leaders develop and execute the strategy.
2. I also offer a course, Advance Your Finance and Accounting Career: Developing a Promotion Strategy that Sets You Apart.

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Episode Transcript

Stephen McLain (00:00):
Hi, this is Stephen McLain of the Finance
Leader Podcast.
This is Bonus Episode Number 62.
Well, good day to you whereveryou are listening from.
I appreciate your dedication togrowing your Finance Leadership
skills so that you can breakout from the role you are
currently performing and so thatyou can achieve your long-term
goal.
What have you been working onlately?

(00:22):
Are you on a high visibilityproject that is making a
difference?
What positive impacts are youhaving?
Are you growing any new skillsor showing your future potential
?
I am excited for you to developinto an amazing Finance Leader.
I know you can.
I believe in you.
Today, I want to talk aboutproviding more simple based but

(00:45):
powerful analysis.
Whatever we are working on,often we are trying to find one
number or one set of numbers.
if it's a projection, if youare pulling actual results,
maybe it's a series of sales andmargin numbers or traffic or
something else that seniorleaders need so they can
evaluate performance, or maybeit is another set of relevant

(01:08):
data.
We are always being asked foranalysis on data.
Sometimes we have routinereports that are due daily,
weekly and even monthly andquarterly, depending on what our
senior leadership needs from usto do their jobs effectively,
and we are always being asked toprovide random requests for
data and analysis.
Senior leaders often don't havetime to read excessive words or

(01:33):
try to analyze your analysis,so you have to keep it simple.
We don't want to confuse themor take excessive amount of time
from them.
Your analysis should be easilyunderstood in one read through.
That is the first read through.
Only It should be that easy.
Keep your words few.
Write out powerful analysis inas few words as possible and

(01:56):
make simple charts and tables.
We should not be overloading it, believing that more is
impressive.
Keep it simple and press byproviding a key insight or a
while moment.
That's in the data.
So let's discuss keeping youranalysis easy to read.
Here are a few suggestions sowe can keep our analysis simple.

(02:18):
1.
Focus on your audience.
What does your audience need tohelp them with their job?
It might be a key metric, or dothey need a year-over-year
comparison or a week-over-weekor some other time comparison?
Do they need an analysis bybusiness unit or some other
metric like the top five productmargins?
Know your audience so you cananswer the task or request.

(02:39):
2.
Answer only the question asked.
What are you asked to provide?
No more or no less than whatyou are being asked, unless
there is a wow tie-in tosomething extra that might help
answer why.
We must be careful aboutover-sharing, because your
audience can get lost in youranalysis if it's excessive.

(03:01):
3.
Delete anything that adds novalue After your first draft
review and remove anything thatseems extra or distracts from
your message because we don'twant to confuse or frustrate
your audience.
1.
Open your own email where youprovided 7 paragraphs of
explanation along with 3 or 4charts, when you could have

(03:21):
provided high value analysis inone chart with only a few high
powerful bullet statements.
The excessive amount youprovided can overwhelm an
already busy senior leader.
So keep it short but powerful.
One page reports are great.
A simple chart with 1-3 keybullets that provide key color

(03:42):
analysis is great.
More information often confusespeople and makes you have to
work even more to re-explainwhat you provided.
The simple but powerfulcommunicator will be respected
and sought after.
This is another great exampleof great leadership.
We are not just sending loadsof unorganized data, but
relevant and value-addedinformation for decision-making.

(04:05):
This takes great skill andknowledge to perform correctly,
and this is what finance leadersdo every day.
I hope you have a great rest ofyour week.
Thank you for listening to theFinance Leader Podcast.
Please visitfinanceleaderacademycom for more
resources.
And until next time, keepworking on your goals, keep
growing your leadership skillsand take care of your team,

(04:25):
because they will take care ofyou.
Thank you.