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Being a great Finance Business Partner

A great Finance Business Partner (FBP) is not just a financial expert but a strategic partner who drives business growth and decision-making.

 

 

Here's my advice on the hallmarks you should strive for:

 

1. Know your business: Develop a deep understanding of the business, its market dynamics, and competitive landscape. Go beyond just financial numbers and grasp the long-term impacts of financial decisions. Communicate these implications effectively to stakeholders. Your commercial awareness will be the foundation upon which you build credibility.

2. Know your stakeholders: Nurture strong relationships with stakeholders by thinking from their perspectives, anticipating their questions, and understanding their incentives and targets. Earn their trust and influence through open communication, active listening, and a genuine understanding of their viewpoints. Successful FBPs are trusted advisors, not just financial advisors.

3. Know your numbers: As the finance expert, you must have a comprehensive grasp of the numbers that drive the business. Anticipate trends, understand the underlying reasons behind financial performance, and provide insightful analysis. Know the "why" behind the numbers, enabling you to offer proactive solutions and actionable recommendations. Think of yourself as the CFO, you are responsible for understanding everything in the business you support. 

 

 

Excelling as an FBP requires a unique blend of financial expertise, business acumen, and interpersonal skills. By mastering these hallmarks, you can elevate your role from a mere financial advisor to a trusted strategic partner, contributing significantly to your organization's success.

Remember, becoming an outstanding FBP is a journey, and continuous learning and adaptability are key. Embrace challenges, seek out opportunities for growth, and remain committed to excellence.

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