At one stage of your career you realize that financial modeling you were accustomed to is not the one you actually work with. It might be a bit more difficult than you thought. Therefore, you are looking to develop appropriate modeling skills while being at work. Unfortunately, some businesses don’t train on that because they require those skills on a specific basis. In this article, keySkillset will show some easy steps to start your financial modeling career with more confidence and independence.
Develop that mindset of change
Automation started to take over jobs a while ago. However, this is not a moment to give up on your financial dream career. People are the ones who need to monitor the machines and make sure they do things right.
Once you understand that your job cannot be replaced but complemented, the opportunities will come. In addition, don’t be afraid to suggest automated processes to the management. It will help to achieve companies’ goals even faster. For example, some Excel-based technology can automate your finances or improve efficiency with fewer resources.
Depending on the industry, you might be resilient to implementing certain innovations. But until you don’t accept the advantages of doing a change, you will not succeed.
Train and interact with others
Try to find modalities to share some of your questions or struggles with professionals. For example, networking events with experienced panelists can help answer your questions better than some Excel books.
The advantage is that you get the first-hand experience and get insights straight away. You learn from other people’s failures and learning curves. Besides, you don’t have to spend too much money on that.
Apply your skills where relevant
Find websites that offer questions/answers with financial models. Quizzes or case studies will make you understand better how things work. In addition, it will be great practice and a great way to challenge yourself.
Some companies organize competitions among finance professionals. Just keep updated with the latest events that happen around you and be in a loop for exciting opportunities.
Do your research
Understand where you lack the knowledge and the skills gap. For example, make a list of the formulas and functions used for building financial models and test yourself. If you are confident in using them, then go ahead with the next ones. It is important to know what your development opportunities are.
Developing the right skills is a long path, but with these 4 easy steps to start your financial modeling career you can become better. Never leave any knowledge gap because it will affect you in the long-term. Just take the opportunity to work with yourself.
If you want to take the first steps, try this educational game to check your strengths and weaknesses.