In the fast-paced world of finance, professionals often find themselves on the quest for the elusive “right” answer. It’s a journey ingrained in our training—to meticulously analyse data, evaluate various scenarios, and identify the one solution that stands out as the ultimate choice. However, after two decades in the business, with the last eight years dedicated to running my own ventures and supporting others, I’ve come to a realisation: the pursuit of the single right answer might be the biggest mistake we make.
The truth is, there is no one-size-fits-all solution in finance. Instead, what experience has taught me is that there are always multiple right answers. While some may be more effective than others, the key lies in taking action and implementing a solution rather than endlessly searching for the perfect one.
One prevalent pitfall I’ve observed in my years in the industry is the tendency to do nothing while waiting for more analysis. This hesitation, born out of the desire for certainty, often leads to missed opportunities and stagnation. In essence, the one answer that is almost always wrong is the choice to remain inactive.
So, what’s the alternative? The approach I advocate is rooted in the FBP mindset—Think big, Start small and low risk, Test and learn until you optimise the solution to 80%, and then Roll out.
Thinking big involves envisioning the broader picture and considering innovative solutions that may seem unconventional at first. However, the key is to start small and low risk. By taking manageable steps, you can test your ideas in real-world scenarios, learning and adapting along the way. The goal is not perfection from the outset but continuous improvement until you reach an optimised solution.
This philosophy is at the core of the FBP Academy, a platform designed for individuals and teams seeking a new perspective on finance. Through a combination of training, mentorship, and practical application, the academy empowers finance professionals to embrace a mindset that values action over endless analysis.
For those interested in taking their careers to the next level, the FBP Academy offers public sessions starting in November and March, accommodating professionals from all time zones. It’s an opportunity to break free from the traditional mould of finance thinking and explore a more dynamic and proactive approach to financial decision-making.
In conclusion, the finance landscape is evolving, and so should our mindset. Instead of fixating on finding the one right answer, let’s embrace the idea that there are multiple right solutions. By thinking big, starting small, and taking a proactive approach, we can navigate the complexities of finance with confidence and drive our careers to new heights. Join the FBP Academy and embark on a journey of transformation—a new way of thinking about finance that could reshape your professional trajectory. Find out more in the comments below and take the first step toward a brighter financial future.