Strategic FP&A Moves That Transform Businesses With Josh Aharonoff

FP&A Tomorrow

Welcome to FP&A Tomorrow, where we discuss financial planning and analysis, examining its current state and future prospects, with your host Paul Barnhurst.

In this episode of FP&A Tomorrow, host Paul Barnhurst delves into the dynamic world of financial planning and analysis (FP&A). He is joined by Josh Aharonoff, an experienced finance professional who has navigated the complexities of FP&A, accounting, and entrepreneurship. The conversation offers insights into the current state of FP&A and its evolving future, with practical advice for both aspiring and seasoned finance professionals.

Josh Aharonoff is a seasoned finance expert with a background in accounting and a wealth of experience in both big four accounting and startups. After obtaining his CPA and working in global banking services, Josh ventured into entrepreneurship, co-founding a startup and later establishing his own firm, Mighty Digits, specializing in outsourced finance and accounting services. Josh is also a prominent figure on LinkedIn, with nearly 400,000 followers, and runs a popular daily newsletter and YouTube channel.

Here is a summary of the key points from the discussion:

1. Understanding what makes financial planning and analysis effective and impactful.
2. Josh’s professional journey from big four accounting to entrepreneurship and becoming a fractional CFO.
3. Insights into the chaotic yet rewarding environment of early-stage companies.
4. Essential technical and soft skills needed to excel in financial planning and analysis.
5. How to leverage social media for professional growth and its impact on career opportunities.

Quotes:

Here are a few relevant quotes from the episode

• "Great FP&A is quick access to data that does not conflict with one another and easy inputs to see different scenarios, different outcomes." - Josh Aharonoff
• "If you're working for someone and you're thinking of going off on your own, it's a good idea to try to pick up some clients while you're still working." - Josh Aharonoff
• "In FP&A, it’s crucial to understand how to put together a forecast that not only tells the future but also showcases the past and allows you to easily tell the story of where the company has been." - Josh Aharonoff
• "People think that you create a financial model once. Okay, now you're done with it. In reality, every single month you should be updating your assumptions. You should be analyzing what exactly took place." - Josh Aharonoff

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Follow Josh:

LinkedIn - https://www.linkedin.com/in/joshaharonoff/

Website - https://www.mightydigits.com/

Follow Paul:

Website - https://www.thefpandaguy.com

LinkedIn - https://www.linkedin.com/in/thefpandaguy

Enroll for Financial Planning & Analysis Certificate Program:

Level up your career and build skills for financial planning and analysis. Sign up for the 8 week online financial planning & analysis certificate program by Wharton Online and learn the art of forecasting, analysis, business partnering and financial storytelling:

https://bit.ly/4debs46

Earn Your CPE Credit

For CPE credit please go to earmarkcpe.com, listen to the episode, download the app, and answer a few questions and earn your CPE certification. To earn education credits for FPAC Certificate, take the quiz on earmark and contact Paul Barnhurst for further details.

In today's episode:

[01:38] Introduction to the show and welcoming the guest

[02:14] Josh shares his perspective on what constitutes great financial planning and analysis.

[02:44] Josh discusses his career journey, from big four accounting to starting his own firm.

[05:31] Josh explains why he enjoys working with startups and the unique challenges they present.

[06:54] Josh shares memorable experiences with clients, particularly with the company Chili Piper.

[09:25] Josh reflects on why big four accounting wasn’t the right fit for him and what he learned from the experience.

[15:51] Discussion on the biggest challenges of working with startups, including fundraising and constant evolution.

[21:48] Josh offers advice for those looking to start their own advisory services.

[26:05] Josh talks about his favorite aspects of working in FP&A.

[34:55] Josh shares his journey of growing a significant following on LinkedIn and being recognized as a top voice.

[40:12] Josh discusses his recent recognition by Microsoft and what it means to him.

[41:25] Quick insights into Josh’s technical and soft skills, favorite tools, and personal preferences.

[50:53] Information on how listeners can reach out to Josh and learn more about his offerings.