Why organisations need more practice sessions in financial literacy.

Most people I work with, describe Finance as a foreign language.

In his book Hidden Potential, Adam Grant shares some interesting research around setting up conditions for learning:

“To master a new concept in math, science, or a foreign language, it typically takes seven or eight practice sessions.”

How can organisations set-up practice sessions around financial literacy?

The benefit of practice sessions is in the experimental learning. These practice sessions / experiments allow your team to try new things in a low-risk environment.

When it comes to financial literacy, forecasting lends itself to experimental learning…

1. Test your assumptions.

2. Analyse the results.

3. What did you discover?

How can you set-up a small forecasting experiment within your team or organisation?

I’d love to hear your thoughts.

Robert

P.S. Whenever you're ready, there are a couple of ways I can help:

1. Come to your site and run a Finance for Non-Finance Managers workshop. These workshops are designed to help your people understand what’s behind the numbers so that they can have greater impact.

2. Mentor your Finance team. The forecast is the most powerful tool in a Finance professionals tool bag. Book me in for a chat about how I can help add a couple of dimensions to this skill set, and see how your Finance team can become the trusted advisor at all levels in your organisation.