Have you figured out your Story?

With the financial year end approaching for most companies, it is easy to just report by the numbers without any feelings - some people say accountants have little feelings - but that is not the CFO’s job. While we report the performance based on facts, our job also requires us to motivate our teams, the business development team, the sales & operations team as well as the entire back office. We do that by adjusting our angle of sight when we talk. What do I mean by that?

When the CFO reports the results of the company, he/she should take into consideration the temperature on the ground, what changes are occurring to the market, what the employee sentiments are, how is the performance of the company compared to the Group? Remember, you aren’t analyzing the finances for the sake of the analysis, but to make recommendations that lead to action and move the business in a positive direction. You’ve got to figure out the right course to take, then sell it.?

Perhaps, now you know why the CFO often stares at his/her computer for long hours, he/she is trying to write a story. It is important that the CFO tells a well-coordinated story with the remainder of the management team. He is the owner of the data and therefore with the knowledge of the market, the information in the results package is to drive performance.

The stakeholders you need to engage with don’t all care about the same things, or the same level of detail. For example, does your CEO really want to drill down into the numbers? No — they’d prefer you figure out the root cause of a drop in revenue and recommend one or more options to address it. Therefore, and before your presentation, ask yourself the following questions to make sure your story is tailored to your audience:

·?????? What are their needs and priorities??

·?????? How detailed should your report/story be?

·?????? What experience and skills does your audience have??

·?????? What questions are they likely to ask?

·?????? What do they care about??

Even within a single organization, the experience of different audiences can be vastly different. Avoid being too technical — take care to avoid acronyms, abbreviations, or terminology that only the finance team understands. Avoiding unnecessary jargon doesn’t mean oversimplification. It just means communicating in a language familiar to your audience.

Finally, if you are addressing a group of senior leaders like your Board, keep your story concise. Boards process an overwhelming amount of information already, and their time is scarce. They will reward your brevity.

Improving your storytelling involves some trial and error. Asking for feedback can be a great way of learning and developing. Figure out what resonates with different audiences and adapt your approach to storytelling.

All the best for 2024!

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