⏳This is a 8-minute read📚
Hey Fast Tracker!
In this edition…
1️⃣ Expert Insights: 💡 My guest on the FP&A Fast Track podcast this week is Asif Masani. Asif has over 13 years of experience in finance and FP&A, including positions at Citibank, Pfizer, and EY, and he now focuses on training and educating FP&A professionals.
2️⃣ Brain Snacks Book Bites: This week's book bites are from “Tribal Leadership” by Dave Logan, John King, Halee Fischer-Wright. Have you ever wondered what it would be like to work with people who are as excited and passionate as you are? “Tribal Leadership” explores how to transform work into something meaningful and fun by understanding and improving the culture around you..
3️⃣ 💡 Fast Track Tip of the Week: Cultural Consideratins in FP&A: To communicate effectively, it’s crucial to recognize that cultural backgrounds influence how people interpret information. This week, I share a few key tips for handling cultural considerations in FP&A communication.
🎙️ Expert Insights from the FP&A Fast Track Podcast with Asif Masani.”
Read below for key takeaways from my interview with Asif, or watch the full episode here.
5 Key Takeaways
1️⃣ Adaptability in Learning Formats: Asif highlighted the value of both live and self-paced FP&A training formats, noting that they serve different learning needs. The adaptability of these formats ensures that a wide range of learners, regardless of their geographical location or financial constraints, can access high-quality education and professional development in FP&A.
2️⃣ Effective Communication Across Cultures: John and Asif discussed the importance of understanding cultural nuances in communication. Tailoring messages to fit the preferences and norms of different cultures can enhance the clarity and impact of financial ideas, making it crucial for FP&A professionals to engage effectively in multicultural business environments.
3️⃣ Empowering Non-Finance Stakeholders: Asif provided strategies for communicating financial insights to non-finance individuals. By using familiar metrics and focusing on actionable recommendations, FP&A professionals can bridge the gap between financial analysis and business decision-making, fostering better understanding and collaboration across departments.
4️⃣ Career Path Evolution: Asif’s career journey from accounting to FP&A, including his roles at Citibank, Pfizer, and Coursera, underscores the nonlinear nature of professional growth. His story illustrates how career paths can evolve through exploration, skill-building, and seizing opportunities, encouraging FP&A professionals to remain open to new directions and challenges.
5️⃣ Building Relationships for Influence: Both John and Asif emphasized the importance of building relationships within the business to ensure that financial analysis is heard and acted upon. By fostering strong connections with various teams, FP&A professionals can enhance their influence and contribute more effectively to the organization’s strategic goals.
🔍 Episode Selected Chapter Index
11:06 Expanded training led to successful business venture.
19:56 Worked with people from US, Europe, Middle East.
31:47 Understanding user targets and presenting actionable metrics.
42:17 Focus on top three skills for FP&A.
44:31 Understanding, analyzing and communicating actionable business insights.
54:17 Management reporting modules, examples, presentations, and business relationships.
A more complete index is available in the full episode.
📚 Leveraged Learning: Learn in minutes, Use for a Lifetime.
This week's book bites are from “Tribal Leadership” by Dave Logan, John King, Halee Fischer-Wright. For the complete summary of this book, in less than 125 minutes, go listen to, or read, it here.
Here are the key takeaways, explained simply!
Tribal Leadership by Dave Logan, John King, Halee Fischer-Wright
Have you ever wondered what it would be like to work with people who are as excited and passionate as you are? “Tribal Leadership” explores how to transform work into something meaningful and fun by understanding and improving the culture around you.
What Is a Tribe?
A tribe is essentially a group of people, ranging from 20 to 150 members, who interact with each other regularly. This book explains that there are five stages of tribes:
- Stage 1: “Life Sucks” – People feel hopeless and disengaged.
- Stage 2: “My Life Sucks” – People are unhappy and lack motivation.
- Stage 3: “I’m Great” – People are motivated but work for individual success.
- Stage 4: “We’re Great” – People collaborate and feel united against common challenges.
- Stage 5: “Life Is Great” – People are driven by a shared vision of changing the world.
Most of the book focuses on moving tribes from Stage 2 to Stage 3, and then from Stage 3 to Stage 4.
Steps to Move from Stage 2 to Stage 3
- Identify Potential Leaders: Find tribe members who want a better work culture. Engage them one-on-one to show that you value their contributions.
- Genuine Interest: Show real interest in their lives. People want to feel valued and seen.
- Encourage Two-Person Relationships: Help them build meaningful, one-on-one connections with others.
How Will You Know You’re Successful?
You’ll hear people start saying “I’m great” instead of “My life sucks.” They’ll gain confidence and want to contribute more.
Transitioning from Stage 3 to Stage 4
- Highlight Teamwork Benefits: Show that working together leads to better results.
- Assign Collaborative Projects: Give tasks that are too big for one person to handle alone.
- Build Triadic Relationships: Encourage forming groups of three where everyone benefits.
- Shared Values: Have conversations to discover what’s important to everyone in the tribe.
- Noble Cause: Establish a shared mission that everyone can get behind, such as “Conquer Cancer in Our Lifetime.”
Real-Life Impact
When people collaborate toward a common goal:
● They feel more connected and less stressed.
● They are more likely to stay with the organization.
● They take fewer sick days and have more fun at work.
In a Nutshell
Tribal Leadership helps you understand and enhance the culture in your workplace, making it more fulfilling and productive for everyone involved. By moving your tribe through these stages, you’ll create a place where people are happy to come to work and make a real impact.
For the complete summary of this book, in less than 15 minutes, go listen to, or read, it here.
💡 Fast Track Tip of the Week: Cultural Considerations in FP&A:
My guest on the FP&A Fast Track podcast this week, Asif Masani, lives in India and works with FP&A professionals all over the world. This means he has had to understand the impact of different cultures on how he communicates, and effective communication is the cornerstone of successful financial planning and analysis (FP&A). So, what happens when your audience spans across different cultures? Understanding and navigating cultural differences can impact your communication in a major way, making you a much more effective professional.
Understanding Cultural Contexts
To communicate effectively, it’s crucial to recognize that cultural backgrounds influence how people interpret information. What’s considered clear and straightforward in one culture might be seen as vague or abrasive in another. Here are a few key tips for handling cultural considerations in FP&A communication.
Be Mindful of Communication Styles
Different cultures have distinct communication styles, ranging from high-context to low-context:
• High-Context Cultures: In cultures such as Japan or the Middle East, communication relies heavily on implicit messages and contextual nuances. In these settings, building relationships and understanding unspoken cues are vital.
• Low-Context Cultures: Countries like the USA and Germany emphasize direct and explicit communication. Facts and detailed information tend to take precedence over personal relationships.
Adjust your approach based on the cultural context of your audience. For high-context cultures, take time to build rapport and be sensitive to the subtleties of your language. For low-context cultures, prioritize clear, detailed, and straightforward communication.
Leverage Visual Aids
Visual aids can be incredibly effective in bridging cultural gaps. Charts, graphs, and infographics can transcend language barriers and provide a universal means of understanding complex financial data. Use visuals to support your analysis and ensure your message is easy to understand, regardless of cultural differences.
Be Aware of Non-Verbal Cues
Non-verbal communication can vary significantly across cultures. While eye contact is seen as a sign of confidence in some cultures, it may be perceived as disrespectful in others. Pay attention to body language, gestures, and facial expressions when communicating with diverse teams. Understanding these non-verbal cues can help you convey respect and attentiveness, further enhancing your communication effectiveness.
Adapt Your Language
Simple language adjustments can make a big difference. Avoid idioms (e.g killing two birds with one stone, the whole nine yards), slang, and jargon that may not be easily understood by non-native speakers. These all require shared knowledge that may be common in your culture and completely unknown in someone else’s. Aim for clear, concise language and, when possible, provide explanations for any complex terms or concepts. This ensures that your entire audience can follow along and grasp the key points of your analysis.
Promote an Inclusive Environment
Encourage openness and inclusivity in your communication practices. Invite input from team members of different cultural backgrounds and be receptive to their perspectives. This not only enriches the quality of your FP&A work but also demonstrates respect for the diverse viewpoints within your team.
Practical Steps to Enhance Cross-Cultural Communication
- Get to Know Your Audience: Research the cultural backgrounds of your audience to understand their communication preferences and expectations. A great reference book for this is “Kiss, Bow, or Shake Hands” by Terri Morrison. It lists countries and common do’s and don’t in that country’s culture and it is very concise.
- Use Clear and Simple Language: Avoid technical jargon and idioms. Aim for clarity and simplicity in your communication.
- Incorporate Visuals: Enhance understanding through visual aids that can convey complex information more universally.
- Seek Feedback: Continuously seek feedback from your audience to improve and refine your communication strategies.
Embracing cultural diversity in your FP&A communication fosters a more inclusive workplace and leads to more effective and impactful work. Remember, leveraged learning isn’t just about what you know; it’s about how you connect and communicate with others. Keep learning, keep advancing, and empower your career through constant improvement.
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See you in the next edition.
John Sanchez
Managing Director of FPA Group
FP&A Fast Track Podcast Host
