👋Hey there,
Feeling trapped in your FP&A role due to your industry?
You are not alone.
Our FP&A careers have spanned 5 industries and counting.
Hear how we industry-hopped using universal FP&A skills we picked up.
It may help you do the same.
Listen on
FP&A is a Universal Framework
Many say accounting is THE universal language applicable to all businesses.
And we believe that.
We also believe FP&A is THE universal framework that can be applied to accounting.
So no matter what industry you start in, you have ways to jump to others.
Just make sure you enjoy the industry you’re in.
🔥TIP: Here’s why FP&A is a career worth considering.
Show Notes
00:45 - Started in manufacturing, used that experience to do a SaaS IPO.
01:05 - Light bulbs, renewable energies, and printed materials…oh my!
01:59 - Manufacturing includes raw materials, vendors, and labor.
03:12 - Don’t use your industry as an excuse to not apply for a job.
04:05 - SaaS has data centers and customer support teams, all tangible too.
05:30 - Whatever industry you’re in, find the tangible thing you can jump into.
06:15 - Find industries that you can get excited about.
08:10 - Sometimes products you use are in industries you’ll enjoy.
09:51 - We all like working on things we understand.
10:56 - Volume, mix, and price is a universal framework you can use 🔥
What is an FP&A Job Like in Manufacturing?
Manufacturing is where stuff is made.
The production floor in a plant is an amazing place:
Raw materials are stored and loaded on a production line
Production lines transform them into finished goods
Distribution areas pack and ship those finished goods to customers
Abandon your spreadsheet and put on your safety equipment.
Walking the production floor will teach you how your operations work.
Just ask the engineers and line workers, and they’ll literally show you.
And guess what?
A plant isn’t the only place with a production floor to walk.
What is an FP&A Job Like in SaaS?
Software as a Service (SaaS) is where we enter the cloud.
The cloud is a real place.
It’s where Clippy still hangs out (we think).
The cloud is nothing more than a data center.
Blinking metal boxes (servers) and metal cages power the software you use right now.
And there are inputs in SaaS similar to manufacturing:
Usage (users, customers, data being transferred)
Support tickets
Implementation (aka set-up)
Put your computer away and walk to your customer support person’s cube.
Seriously, watch how they operate.
Understand that they are your company’s service in tangible form.
Also, check out your local data center if you have one.
And bring a jacket, the AC in those places keeps those servers cool.
FP&A Skills that Apply to All Industries
Every company in every industry is trying to do one thing.
Make money.
It’s how they keep the lights on.
Help them by:
Growing revenue
Managing expenses
Monitoring cash flow
🔥TIP #1: Use volume, mix, and price analysis to understand revenue performance.
🔥TIP #2: Understand your company’s break-even point for cash flow management.
🔥TIP #3: Make your customers’ renewal process more profitable.
Conclusion: You Can Industry Hop via FP&A
FP&A is full of value-adding activities.
Learn a bunch of them, regardless of the industry you’re in.
Prove to a future employer you know your stuff.
And that you can apply it to a new industry.
🔥TIP: Prepare for the interview by learning about that new industry.
As always, let us know if you have any suggestions or ideas you want us to cover by replying to this. We read and reply to every email.
Now go have fun making an impact on your business and your career!
See you next week 👊
Cheers,
Drew & Yarty
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Disclaimer: This content is not investment advice or financial advice. The views expressed and stories told are our own. We may be investors in the companies discussed. Do your due diligence when considering applying what you learn.
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