Hey Lykkers! Ever been in a meeting where someone's presenting a wall of numbers, eyes are glazing over, and the only decision made is to schedule another meeting? We’ve all been there. But what if your next financial review could be the opposite—energizing, decisive, and genuinely collaborative?

Let’s transform that dreaded session into your team's secret tool. Welcome to the art of leading a collaborative financial review.

A great review isn't about reading figures aloud. It’s a strategic conversation that moves through three stages: Understanding the data ("What?"), Interpreting its meaning ("So what?"), and Deciding on action ("Now what?").

As leadership expert Patrick Lencioni emphasizes, teams must embrace healthy conflict around data to arrive at better commitments (Lencioni, P., The Five Dysfunctions of a Team, 2002). Your job as leader is to guide that journey.

Preparation is Your Superpower

Don't let the first time your team sees the data be in the meeting. Distribute a concise pre-read 24 hours in advance. This isn't a data dump. Include the key dashboard or graph, two to three short observations on what’s new or changed, and one open-ended question to prime their thinking. This respects everyone’s time and ensures you start the meeting in the "interpretation" zone, not the "basic comprehension" zone.

Organizational psychologist Dr. Stephanie Horn, who specializes in data-driven teams, notes: "The pre-read shifts team mental mode from passive reception to active inquiry. It reduces cognitive load in the room, freeing up energy for debate and creativity" (Horn, S., personal interview, October 2023).

Facilitate, Don't Dominate

In the meeting, you are the facilitator, not the sole analyst. Start by asking open-ended questions focused on the big picture:

- "What in this data surprises you the most?"

- "Which trend, if it continues, will have the biggest impact on our quarterly goal?"

- "Where do you see a disconnect between this data and what you're hearing from customers?"

Then, listen. Let the accountant explain the variance. Let the sales lead connect a dip to a competitor’s move. This technique of structured inquiry is supported by research on managerial decision-making, which shows that process-focused questioning improves analytical rigor and reduces bias (Garvin, D.A., & Roberto, M.A., Harvard Business Review, "What You Don’t Know About Making Decisions," 2001).

Create a Bias for Action

This is where most reviews fail. They end with interesting observations but no clear path forward. Fight this by relentlessly linking insight to action.

For every key discussion point, use this simple frame:

1. Insight: "We see that customer acquisition cost spiked in Channel B."

2. Decision/Owner: "Alex, you own exploring this."

3. Next Step & Timeline: "Bring a recommendation to our huddle next Tuesday."

Assign it. Note it. Follow up. This approach mirrors the "Actionable Metrics" principle championed by Eric Ries in The Lean Startup (2011), which argues that data is only valuable if it leads to a clear business decision or validated learning.

The Tools & Mindset

Use technology to collaborate on the data, not just look at it. Screen-share the live dashboard and annotate it. Use a simple digital whiteboard to capture hypotheses and action items in real time. The goal is a shared artifact of the conversation.

Remember, as finance thought leader Brian Feroldi puts it: "The purpose of financial data isn't to have all the answers. It's to ask the best questions" (Feroldi, B., "Financial Statements Explained," 2022). Your team holds the context; the data holds the clues. Bring them together.

So, Lykkers, next time you gather your team around that table of new graphs, don’t just present. Provoke, listen, and translate. That’s how you turn numbers into your next big win. Now, go make that data work for you.