3 Signs You Have A Problem With Finance Business Partnering

Hello and welcome...?to our weekly newsletter, where we share 3 things weekly to help you become a great FBP.

This week those 3 things are:

- Problem 1: Being brought in Late

- Problem 2: People Don't Say "Hello"

- Problem 3: Making Recommendations.....nobody actions

And don't forget, theFBPteam is here to help you develop a highly engaged and commercially?strong?finance team that other functions want to work with.... book in a call to see if we can help at...

www.calendly.com/andrewjepson

Clearly I run a business helping to lift the capability of finance professionals. That should be obvious.

And the biggest barrier I run into when talking to people about if and how we can help their team is.....

"No we don't have an issue with business partnering"

My experience is that only 10-20% of finance professionals actually know what they are doing in this space.?

So people are either lying to me just to be nice or we have a massive blindspot. We think we are good but we are not.

I think it's the second one.

So today I thought I would highlight some of the things you will be experiencing if you have an issue with Finance Business Partnering and?some simple tricks to start to fix.

Signal 1: Being brought in late

One of the biggest frustrations finance has is being brought in at the last minute. Reviewing the numbers and highlighting they are incorrect, only to be told it's too late in the process to change now.

Aaaarrrgghhhhh!!!

Why didn't you get me involved earlier we think.

And there is usually two reasons for this.

The first is you were probably unavailable and busy. And so when non finance came to discuss things with you, you pushed them away saying its month end or I am doing the budget for the next 2 months.?

If you are unavailable to help people when they need it, what will they do. Funnily enough they will find ways to help themselves, or find alternative solutions or even worse just work around you and without you.

If you say it enough, they?may even?stop asking you all together and work alone.

The second is they feel threatened by us. They feel we will block their agenda.

To solve these you have to have the structure in place that allows you to be available to your business partners. If you are always doing month ends, forecasts and budgets then how can you be free to help them. Its the lipstick on a pig issue.?I am your finance business partner which sounds and looks great, but if you are never available to help you are just making something sound good, when under the surface it's not.

You also have to have a mindset of helping, not blocking. Surer you can disagree but it has to be through the tone of "not yet" rather than "no".?

This means working through things together and getting what you want as well as what they want. Negotiation skills helps, and few of us in finance are taught them.

Signal 2:?People don't say "Hello"

If people are NOT saying hello to you when you walk past them or they walk past you there is a fair chance they are avoiding you.

Which means your relationships isn't in the right place. And they probably don't trust you and are worried you will unravel them

This often happens when we only interact with others if there is a problem.

They don't hear from finance unless their is an issue.

If you only talk to people when you have questions or issues then what happens? You condition them to feel that every time you turn up it comes with questions and issues.

And most people will avoid that.

To fix this try saying hello to people when you see them first.

Ask them questions about them and get to know them on a personal level.

I have first hand experience of working in a leadership team that had great relationships and knew each other on a personal level deeply.

A lot of conversations were enjoyable. And so when the tough ones came, you could slide into them knowing that the other person had your back, they just had a different view.

Relationships are important. If you don't have them people will avoid you and that slows everything down.

Signal?3: Making recommendations....nobody actions

It's one of the most common pieces of advice to finance people. Don't just give me problems, give me recommendations (or solutions)

Or I want you to identify some insight and from that some recommendations.

The funny thing about recommendations is that when someone from another department provides you with recommendations about your department what do you do.

You instantly deflect and avoid.

When provided with a yes or no choice or a status quo/change choice we will usually choose the status quo. No change, no to the recommendation.

Unless there is a major benefit we can see or a trauma to move away from.

And unfortunately recommendations from finance are not often traumatic enough for the other function.

If you are making recommendations and finding they are NOT being actioned, you have a positioning problem.?

The best way to fix it, provide some options. Give them 1,2,3 ways of getting there - and they can choose.

That way they feel like they are in control of the decision (even though we both know you are in control because you provided the options).

Upcoming FBP Programs & Clients?

FBP Bootcamp -Tuesday?20th August

Our next Bootcamp is less than two weeks off, and for this one we are going to take you through the 5 things great FBPs are doing well to be great FBPs.

Get these 5 things right and you will be on your way to being better.

Get them wrong....and you won't

To sign up just click on the link below

Recent Client?Wins?

ATEM Management Conference Sydney

Today I was lucky enough to speak at the ATEM Finance Management Conference on the latest trends in Finance Business Partnering and why it is so important in the future of finance.

Over 100 senior finance leaders from the?tertiary sector.

This is a particularly tough sector for FBP to come alive in. A focus on budgets (and sometimes spending them no matter what) and stakeholders who feel notoriously difficult for finance.?

One hour on Finance Business Partnering and not one number included.?

It takes a bit to hold a finance?audiences attention without numbers. So imagine what you can do when you include numbers.

If you are looking for a keynote around this just reach out we cover many topics that are perfect for away days, finance team conferences, weddings and birthdays.

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?? I own and run the global finance training company theFBPteam

?? We don’t help finance teams report performance, we help them improve performance

?? Sign up to my newsletter FBP Made Easy (oh wait you have if you are reading this)

?? Or join our FREE monthly FBP Bootcamp

Because once the robots arrive, the only thing left will be business partnering