FFM Newsletter Language of Business Series: Finance (Business Acumen Unlocked)

In this edition:

• Thursday Thoughts – The Business Skill That Changes Everything
• Weekly Top 5 – Finance Fundamentals Webinar, Economics Explained, How to Read Financial Statements, Customer Service, & What is an IPO?
• Reading Recommendations – Financial Intelligence, Finance for Nonfinancial Managers, & Profit First

THURSDAY THOUGHTS

When Executive Assistants and other Force Multipliers ask me how they can become a stronger strategic business partner to their Principal and leadership team, one of the first things we talk about is business acumen.

And no, it’s not just a buzzword for CEOs or MBAs (or even Chiefs of Staff!).

Developing business acumen is one of the most effective ways for Executive Business Partners, Executive Assistants, and other ambitious administrative professionals to set themselves apart, increase their impact, and provide major value to their stakeholders and organization.

So what exactly is business acumen and how do you build it if you don’t have a formal business background?

That’s exactly what we’re going to talk about throughout the rest of the year in the newsletter’s Language of Business series.

Let’s get started!

Business acumen is the ability (combined with the necessary knowledge and instincts) to understand and interpret business situations, make informed decisions, and take effective actions that lead to favorable outcomes.

It’s not about memorizing jargon or reading balance sheets for fun. It’s about understanding how your company works, what drives results, and how to connect the dots between people, processes, and priorities to help your Executive and organization thrive.

No matter your title, Executive Assistant, Chief of Staff, EA to the CEO, or Executive Business Partner, your job likely touches every corner of the company. Business acumen includes everything from financial literacy to strategic thinking, and it empowers you to:

• Ask better, more powerful questions
• Understand how the business makes money and creates value
• Connect day-to-day work to organizational goals and priorities
• Participate confidently in high-level conversations
• Make better decisions with the bigger picture in mind
• Identify risks, opportunities, and gaps before they become problems
• Navigate ambiguity and complexity
• Influence decisions without relying on formal authority
• Lead up, lead across, and lead through influence

Business acumen is what turns a capable assistant into a true strategic business partner.

There is no doubt that business acumen is essential for Executive Assistants and Force Multipliers, now more than ever.

Bottom line? Business acumen builds your confidence. When you understand what’s going on “under the hood” of the business, you stop feeling like a bystander and start showing up as a leader.

Throughout June we’ll be focused on the financial aspects of business. As always, if you have questions or topics you would like me to cover, just email hello@founderandforcemultiplier.com.

WEEKLY TOP 5

1. Finance is no longer something that sits solely within a finance department. Assistants are increasingly involved in operational decisions, event budgets, forecasting, reporting, supplier management, and strategic conversations. Join Finance Fundamentals for Assistants: Understanding the Numbers That Matter on July 2 @ 7am EST. Hosted by the Strategic PA Network, join Josh Taylor from Your Excellency, where they’ll explore finance through an assistant’s lens, breaking down key concepts into practical, relevant insights that you can apply within your role. 
    
2. Stand out the next time your leader is running late for a Zoom by being prepared and informed about what’s happening in the world. Bonus points if you can tailor the topic to the stakeholder you’re talking with. Economics Explained has short, informative episodes that look at interesting countries, policies, and decisions from the point of view of an economist. As you listen, consider the impacts on your organization and your leader’s decisions. If you really want some extra credit, share what you’re learning! 
    
3. According to Brian Feroldi, author, investor, and financial educator, 95% of people can’t read financial statements. Let’s make sure you’re in the 5% who can. In this video, Brian explains how to read financial statements, including Balance Sheets, Income Statements (i.e. P&Ls), and Cash Flow Statements, in less than 10 minutes. If money makes the world go round, then you want to be in the know. These statements are how decisions get made at your company. 
    
4. Still think customer service is just an “ops problem”? Think again. The smartest leaders and Force Multipliers are now treating every customer interaction as a financial decision — because poor service creates hidden costs that never show up on your P&L but absolutely show up in your revenue. This Forbes article challenges business professionals to shift from a cost-cutting mindset to a growth mindset, and stop asking: “What does this cost?” and start asking, “What does this enable?”
    
5. SpaceX plans to price its upcoming IPO at $135 a share for a valuation of about $1.77 trillion. But what is an IPO and how does it actually work? Whether your company has gone public or may in the future, IPOs are all over the news. Learn more from Investopedia about how an initial public offering works.

READING RECOMMENDATIONS

1. Financial Intelligence: A Manager’s Guide to Knowing What the Numbers Really Meanby Karen Berman and Joe Knight | Financial Intelligence is one of the most accessible books on business finance for non-financial professionals. Rather than focusing solely on accounting concepts, it helps readers understand what financial statements actually mean, why the numbers matter, and how to use them to make better business decisions. For Force Multipliers looking to strengthen their business acumen, this book provides a practical foundation for understanding the financial side of leadership and strategy. 
    
2. The McGraw-Hill 36-Hour Course: Finance for Non-Financial Managers (Third Edition) | Finance for Non-Financial Managers is a practical introduction to the financial concepts every business professional should understand, even if numbers aren’t your thing. It breaks down financial statements, budgeting, cash flow, and key business metrics in a clear, approachable way. For Executive Assistants, Chiefs of Staff, and Force Multipliers, it’s a valuable resource for building business fluency and becoming a more strategic partner to your leader and organization. I highly recommend it as it’s interactive and helps you test your knowledge acquisition with quizzes throughout. 
    
3. Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine by Mike Michalowicz | This one’s for my entrepreneurs and their right-hand partners specifically. Profit First challenges the traditional accounting formula by arguing that businesses should take profit first and operate on what’s left, rather than hoping profit remains after expenses. Mike provides a simple, practical cash management system that helps entrepreneurs build healthier, more profitable businesses from the start. It’s an essential read for anyone who wants to better understand cash flow, profitability, and the financial realities of running a business. 

“Every dollar in your business is either working or being wasted. Financial strategy is about directing resources where they generate the highest return – whether in growth, efficiency, or risk reduction.”

Allison Dunn