Question: What is the #1 thing which holds back most people’s careers in financial modeling?
Answer: The one thing that holds back careers in financial modeling is isolation. Financial modelers who work in isolation are doomed to fail. A good financial modeler understands that he must be a good communicator, and must take active input (and discuss the variances) from all stakeholders, and then make a call on how much he weights everyone’s input in the model. You must also be able to convince stakeholders on why their parameters are less important than some others without ruffling feathers.
A good modeler wins consensus and support well before his model is actually completed. After a round of discussions – with draft versions of your model – when you present the final version, and if it contains no surprises, then management will see a lot of positively bobbing heads as you present, and gain the confidence that your assumptions have been well thought through, and likely will accept the recommendations of your model. So do not isolate yourself, go out and interact.
Do You Want to Complete A Financial Modeling Training Course? If you are looking to learn more about completing a financial modeling training program, you should check out our self-paced financial modeling training program on the BusinessTraining.com platform, which is called the Certified Financial Modeling Specialist (CFMS).