Suggestions to ‘level up’ my modelling

Seeking Tips to Enhance My Modelling Skills

I often find myself deep in the details, creating a variety of models—financial, operational, and economic—as part of my work. In my organization, I’m the go-to person for all things Excel.

I consider my modelling and analysis skills to be between adept and advanced. While I have the confidence to build models from scratch (which I’ve done numerous times) and adhere to best practices like color coding, formatting, and error checks, I’ve been inspired by the outputs of some expert teams, particularly those from Big 4 firms. Their work is impressive, and I aspire to reach a similar level of expertise.

One area where I struggle is in the initial planning phase of my models. Often, I find myself halfway through a project, realizing that I’ve overcomplicated certain aspects or that my model isn’t as modular as I had intended, making it difficult to accommodate unexpected changes.

My understanding of formulas and key components like timeline builds, sensitivity analyses, and scenario controllers is solid. I’m continuously learning and striving to optimize formulas for efficiency in speed and file size, and I’m comfortable with my progress in this area.

I’m looking for recommendations on courses or resources that can help me elevate my skills to match the expertise I see in Big 4 modelling teams and specialist boutiques. Additionally, if there are practices I can engage in during my free time to further develop my abilities, I would greatly appreciate that advice.

It sounds like you’re already in a great position with your modelling skills, and it’s fantastic that you’re looking to further enhance your capabilities! Here are some suggestions to help you level up to that expert level in modelling:

Courses and Resources

Professional Certifications:
Consider pursuing certifications such as the CFA (Chartered Financial Analyst) or CFI (Corporate finance Institute) courses in financial modelling. These programs often provide structured learning and practical applications.
Online Platforms:
Coursera and Udemy: Check out courses specifically focused on financial modelling. Look for those that dive into advanced Excel techniques, scenario analysis, and best practices.
LinkedIn Learning: They have courses on financial modelling that cover more advanced topics.
Books:
“Financial Modeling” by Simon Benninga and “Financial Modeling for Business Owners and Entrepreneurs” by Tom Y. W. Chen are great reads that go in-depth on advanced modelling techniques.
“The Business Modeling ToolKit” by James McGrath provides good insights into modularity and planning.
Specialist Forums and Communities:
Engage with online communities or forums like WallStreetOasis, where you can learn from expert modelers in the finance community.

Practice and Skill Development

Real-Life Case Studies: Analyze financial models from case studies and try to replicate them. This practice can give you insights into the intricacies and thought processes behind expert modelling.
Project Work: Collaborate with colleagues or take on projects that allow you to present your models to stakeholders. Receiving feedback can provide valuable insights and help you refine your skills.
Challenge Yourself with Advanced Features:
Explore Excel’s advanced features like Power Query and Power Pivot for data modeling.
Create dynamic dashboards with Pivot Tables and advanced charting techniques.
Modular Design Practice: In your next model, before diving in, sketch out a blueprint. Break the model into modules and define clear interfaces between them. This can help you maintain control over complexity.
Focus on Best Practices: Attend webinars or workshops that cover financial modelling best practices. Ensure you’re following industry standards for documentation, building a clear structure, and including thorough error checks.

Networking and Learning from Experts

Find a Mentor: Having an expert mentor in financial modelling can accelerate your learning significantly. They can provide personalized advice and feedback on your work.
Join Modelling Workshops: Look for workshops offered by consultancies or universities that specialize in financial modelling. These often involve hands-on activities and direct interaction with experts.
Follow Experts Online: Subscribe to blogs, YouTube channels, or LinkedIn pages of renowned financial modelers. They often share techniques, tips, and insights that can spark new ideas for your own work.

Continuous Improvement

Feedback Loop: After completing a model, seek feedback from peers or mentors. Understand what worked and what didn’t, and iterate on your designs.
Set Challenges: Create specific challenges for yourself, like building a model within a certain time limit, or incorporating a new advanced feature you’ve never used before.

By combining formal education with practical application and seeking feedback from others, you can enhance your modelling skills and gain the confidence to reach that expert level you aspire to. Good luck!

One response

APAdmin

13 March 2025 at 1:25 PM
It sounds like you’re already in a great position with your modelling skills, and it’s fantastic that you’re looking to further enhance your capabilities! Here are some suggestions to help you level up to that expert level in modelling:

Courses and Resources
1. Professional Certifications:
2. Consider pursuing certifications such as the CFA (Chartered Financial Analyst) or CFI (Corporate finance Institute) courses in financial modelling. These programs often provide structured learning and practical applications.
3. Online Platforms:
4. Coursera and Udemy: Check out courses specifically focused on financial modelling. Look for those that dive into advanced Excel techniques, scenario analysis, and best practices.
5. LinkedIn Learning: They have courses on financial modelling that cover more advanced topics.
6. Books:
7. “Financial Modeling” by Simon Benninga and “Financial Modeling for Business Owners and Entrepreneurs” by Tom Y. W. Chen are great reads that go in-depth on advanced modelling techniques.
8. “The Business Modeling ToolKit” by James McGrath provides good insights into modularity and planning.
9. Specialist Forums and Communities:
10. Engage with online communities or forums like WallStreetOasis, where you can learn from expert modelers in the finance community.
Practice and Skill Development
1. Real-Life Case Studies: Analyze financial models from case studies and try to replicate them. This practice can give you insights into the intricacies and thought processes behind expert modelling.
2. Project Work: Collaborate with colleagues or take on projects that allow you to present your models to stakeholders. Receiving feedback can provide valuable insights and help you refine your skills.
3. Challenge Yourself with Advanced Features:
4. Explore Excel’s advanced features like Power Query and Power Pivot for data modeling.
5. Create dynamic dashboards with Pivot Tables and advanced charting techniques.
6. Modular Design Practice: In your next model, before diving in, sketch out a blueprint. Break the model into modules and define clear interfaces between them. This can help you maintain control over complexity.
7. Focus on Best Practices: Attend webinars or workshops that cover financial modelling best practices. Ensure you’re following industry standards for documentation, building a clear structure, and including thorough error checks.
Networking and Learning from Experts
1. Find a Mentor: Having an expert mentor in financial modelling can accelerate your learning significantly. They can provide personalized advice and feedback on your work.
2. Join Modelling Workshops: Look for workshops offered by consultancies or universities that specialize in financial modelling. These often involve hands-on activities and direct interaction with experts.
3. Follow Experts Online: Subscribe to blogs, YouTube channels, or LinkedIn pages of renowned financial modelers. They often share techniques, tips, and insights that can spark new ideas for your own work.
Continuous Improvement
1. Feedback Loop: After completing a model, seek feedback from peers or mentors. Understand what worked and what didn’t, and iterate on your designs.
2. Set Challenges: Create specific challenges for yourself, like building a model within a certain time limit, or incorporating a new advanced feature you’ve never used before.
By combining formal education with practical application and seeking feedback from others, you can enhance your modelling skills and gain the confidence to reach that expert level you aspire to. Good luck!
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