How To Structure Your FBP Roles
Andrew Jepson
??I train, coach and develop finance teams and individuals how to business partner other functions and influence the C-suite
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:
- How To Structure Your FBP Roles
- Getting People To Like You
- Client Wins
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...
How To Structure Your FBP Team
One of the key components of great finance business partnering in our QUIET framework is Q for Quality
Good data, good systems and processes and good people.
If you don't know what I am referring to just download our book at www.financebusinesspartnering.com/finance-business-partner-book-1
And good people refers to not only the capability of the team but also their capacity. And how you structure them up for success.
Now FBP isn't a cookie cutter, one size fits all approach. Different types of organisations need different things at different times.
Accordingly there is really only one question you need to ask about your structure?if you want business partnering to be a success and Finance to be positioned as adding value.
Are our Finance Business Partners burdened by?month ends, budgets and forecasts?
Finance Business Partnering is about working cohesively with other functions to help solve real business problems that achieve the organisations strategic goals.
And if your FBPs are stuck for 4-5 days a month doing month ends and reporting, another 2-3 doing forecasts and 3-4 months a year preparing budgets then?they will not have time?to help the other functions and?business partner effectively
And even more importantly, you are conditioning the other functions to not engage you. Or worse, work around you.
If every time they turn up looking for help they are told "it's month end" or "sorry its budget time, come back in 3 months", then they will walk away and solve their issues themselves.
And not have you involved
Because the business issues don't stop because there is month ends, forecasts and budgets. In fact the business running is way more important than any of those things.
So what's the best structure to be successful with business partnering. It doesn't matter - as long as when business issues arrive, your FBPs are available to work on them. If they aren't available then it's not?attainable.
PS: Don't misinterpret this as month ends, budgets and forecasts are NOT important. They are very important. But the value of Finance and business partnering will never happen for you if your FBPs are burdened with those tasks.
Getting People To Like You
If you have been reading my content for some time you will know I?sit at the idealogical end of?getting people to like you first, before you can even think about getting them to do things for you.
And in Finance we often don't get this.
We either think getting respect is more powerful (which it's not) or we think we have a role where we have this almighty powerful authority over others. Unless you are the CFO, you probably don't (or at least that's what the other functions think)
So get them to like you first. People do things for people they like over people they don't like and it will position you as less of a threat to them.
But how do you do it?
The easiest way is to take an interest in them, get them talking about them, and talking about things that interest them
It's likely not going to be work.
For example do NOT take your business partner out for a coffee or a pub or a mocktail and ask them what is causing them issues and how can you help.?
In fact never take them out for a mocktail period.
They will rarely open up that box to you unless they like you or they feel safe and comfortable with you.
They will likely respond with really simple?basic?things like can you build me a spreadsheet to add two numbers together. Or worse build me a spreadsheet to forecast every variable known to man (that just keeps you busy and off their back for a while)
Instead ask them about them. How was your weekend, what did you do, where did you go, how's this weather we're having?
They are innocuous questions everyone asks. But they give you information about what the other person is into.
And from there you can have a conversation about it. And if you find your are into the same things, you will probably position yourself as someone who is likeable.
Do that a couple of times before taking the conversation to work things and you have more of a chance of them sharing work stuff with you when you do.
Or just talk about work all the time over mocktails and get them to hate you. I guarantee you nobody likes doing that all of the time especially if they are under pressure.
Upcoming FBP Programs & Clients?
FBP Accelerator: Expert
starts Wednesday?16th October
Our final public program kicks off in a little under four weeks.?
And if you have been holding off registering please do not hold off any longer
We only have 2 places remaining
Including 22 hours of CPD, 8 x 2 hour workshops and a personalised FBP profile about you and how you work with others
Workshop 1: Relationships
Workshop 2: Influence & Persuasive techniques
Workshop 3: Communication styles
Workshop 4: Managing Stakeholders
Workshop 5: Advanced Influence for Finance
Workshop 6: Storytelling Narratives
Workshop 7: Presentations (Structure)
Workshop 8: Presentation (Delivery)
Signup below or come to our FBP Bootcamp next week to get a flavour of how we do things if you are unsure.
If FBP development is high on your agenda for the remainder of 2024 please contact us immediately.
We are almost fully booked for 2024.....which means its 2025 before you move the needle on this
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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