The Influencing Challenge: 3 tips to have more impact
Influencing others over whom we don’t have hierarchical authority can be one of the most challenging tasks.
But - as I find - also one of the most rewarding parts of the job.
FP&A leaders need to walk a fine line between holding their business partners accountable to higher-level company objectives while maintaining an excellent professional relationship. We can’t just say “no” every time our business partners ask for more funding because the resulting decline in trust will likely result in less information sharing. That, in turn, can create conditions where FP&A is too far removed from the day-to-day decision-making to make informed recommendations in the future.
Here are some tips to become more influential as a Finance Business Partners:
1) Help wherever you can
Look for opportunities to support your business partners in some small but meaningful way. If you keep doing that, they will likely be willing to do things your way in the future when it matters to you.
For example, see if they struggle with managing their spreadsheets. You may be able to use your advanced Excel skills to make their life a bit easier.
Reciprocity is a powerful motivator.
2) Create an environment of trust
Build trust by extending it.
Make yourself vulnerable by sharing mistakes and how you learned from them.
Ask for feedback.
Give your business partners a heads up about a significant insight before sharing it with anyone else.
3) Challenge - but do it right
When you challenge your business partners on a risk or opportunity, always focus on process, not people. Don't call them out on it, even if someone made a mistake or broke an accounting rule.
Instead, think about how the process itself can be improved so that it’s less likely someone will make the same mistake in the future.
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