"The Numbers Will Speak for Themselves" (They Won't)
How Finance Leaders Use STORY to Bridge the Gap Between Analysis & Action
Something was wrong. Maybe I was wrong. Or my data. Or the budget. The only one who wasn't wrong was my business partner, or so he'd have me believe.
In his defense, my report contradicted everything he believed. It showed his team falling short of their top- and bottom-line targets, with sales per head declining and commissions steadily rising. The data was so clear—so cut and dry—that I figured the report would speak for itself, and I would receive a simple "thank you" email in return.
Instead, I got an unexpected personal visit to tell me he didn't believe it. He had been working hard to turn the business around from a low-performing division, staffing the right departments with the right people, and his dashboards showed his efforts were working! The organization was steadily improving its sales delivery quarter-over-quarter, and with such impressive performance, the commission payouts were more than warranted. So, in his mind, something of mine had to be wrong.
In hindsight, I was wrong, although not how he had thought. Thinking it was my job to inform him of what was happening in his business, I had approached the subject with the subtlety of a stampeding elephant, with no regard for what he cared about most. Rather than building trust, I sewed division.
This experience taught me that even perfect analysis can fail if we don't consider how our audience will receive it. More importantly, it showed me that there is a systematic way to bridge the gap between analysis and action.
My obligation in this situation wasn't to inform but to persuade. And the easiest way to persuade is to tell a good story.
Why Finance Needs to Be Master Storytellers
In finance, suggesting that we need to "tell stories" often feels like professional heresy. We're the guardians of hard data, and we pride ourselves on objectivity and analytical rigor. When someone suggests we need to "tell stories," it can sound like they're asking us to compromise our integrity or sugarcoat difficult truths.
I get it. I used to believe that my role was simply to present the facts and let others draw their own conclusions. But years of presenting financial analyses have taught me a crucial lesson: our job isn't just to uncover insights—it's to drive better business decisions.
Here's the reality: even the most rigorous analysis fails if it doesn't persuade key stakeholders to act.
This doesn't mean compromising our analytical standards. Instead, it means addressing the gap that analysis alone cannot bridge.
1. Data can set the scene but can't tell a story.
When you rely on data to tell the story, you invite the audience to contrast it with their own facts and experiences. These debates are rarely about what's true – often, it's all true! – but rather about what's relevant. Without providing the context of why your data is relevant, the discussion quickly turns from what the data says to whose data to use. As Homer Simpson once said:
"Facts are meaningless. You could use facts to prove anything that's even remotely true!"
This isn't about manipulating facts or spinning tales – it's about providing the crucial context that makes data meaningful. Think of it like a financial statement: raw numbers mean little without the accompanying notes and management discussion. Our role is to provide that same context and insight for all our analyses.
2. Data doesn't inspire change.
Jonathan Haidt suggests that we effectively have emotional and logical brains in his book, The Happiness Hypothesis.
The emotional brain is like an elephant: it can overcome almost any obstacle when desired as long as it knows where to go.
The logical brain is like a rider atop the elephant: blessed with perspective to see the path, but it lacks the strength to make the elephant go anywhere it doesn't want to go.
Stories are designed to address both sides of this equation: giving the rider (logical brain) clear direction while motivating the elephant (emotional brain) to move in that direction.
What’s great about this framework is that it’s easy to see when you’ve missed the mark. There will be visual clues as to whether your message resonated with both sides of the equation.
If you see nodding heads in the meeting but no action afterward, you've only appealed to the rider who grew exhausted trying to get the elephant to move.
If you see a flurry of activity but no cohesion amongst the participants, you've likely motivated the elephant without appealing to the rider.
It's easy to see where I went wrong in my approach. I should have anticipated that my report would surprise my business partner and started with a shared perspective that connected the dots between what he and I saw. Furthermore, knowing that he invested in the turnaround plan, I should have tapped into that motivation to demonstrate how we were on the same side rather than inadvertently challenging his worldview outright.
The question isn't whether to tell stories with our data—it's how to do it while maintaining our professional integrity. How do we bridge the gap between raw numbers and actionable insights? How do we handle situations where the data reveals uncomfortable truths? And how do we maintain credibility with technical audiences who might be skeptical of narrative approaches?
This is where the STORY framework comes in. It's not about creative writing or emotional manipulation—it's about structuring our analysis to honor the data and drive action.
How to tell a STORY
The STORY framework is specifically designed for finance professionals who need to maintain analytical rigor while driving action. It's particularly valuable in three common scenarios:
When your analysis reveals problems that contradict leadership's assumptions
When you need to communicate complex financial implications to non-technical audiences
When you're proposing changes that affect multiple stakeholders with competing interests
1. Set the stage
This crucial first step prevents the immediate defensive reactions that often derail financial presentations. It's about bridging your analysis and your audience's current understanding.
For finance professionals, this means:
Leading with the metrics your audience already trusts (their KPIs, their dashboards)
Acknowledging the story these metrics tell (especially if it differs from your conclusions)
Introducing your additional analysis as a complementary perspective, not a contradiction
Using variance analysis to show how different views of the same data can coexist
For example, when presenting a concerning trend to leadership, don't start with your troubling discovery. Instead, begin with the metrics they trust, acknowledge the story those metrics tell, and then build a bridge to the broader context your analysis reveals.
In my example, I had to address the data the sales leader was looking at, quota attainment per rep. The problem with this metric was that it didn't account for differences in departmental quotas when aggregated. As the sales leader changed the staffing levels, he inadvertently staffed lower quota-carrying departments, making it almost impossible to hit the organization's targets even as the individual rep attainment rose! Walking him through that data and then flipping to an aggregated view of dollars per rep made it abundantly clear that there was a problem to solve.
The key is expanding your audience's perspective without invalidating their views. You're not proving them wrong; you're helping them see more clearly.
2. Highlight the Treasure/Obstacle
This step transforms potentially confrontational findings into collaborative problem-solving opportunities. In finance, we often uncover issues that could be perceived as criticisms of leadership decisions or departmental performance. The key is reframing these findings in terms of:
The Treasure: The strategic objective or organizational value at stake (e.g., sustainable growth, operational efficiency, market leadership)
The Obstacle: The specific financial or operational barrier revealed by your analysis
This approach is particularly powerful when delivering difficult messages:
In the sales leader example, I originally approached the problem at the surface level - we need to hit our sales targets. That’s technically true, but the deeper treasure, what he cared about most, was turning around the organization and maintaining the trust of the team whose performance he had been celebrating. He needed to save face while delivering the message that they needed to do more.
This was a tough needle to thread, but by highlighting that goal and contrasting it with the objective that our current metric of choice was masking fundamental productivity issues that undermined the goal, we could craft a story for his direct reports that celebrated progress and outlined where we needed to improve.
Notice how this approach maintains analytical integrity while making the message more actionable. Instead of just highlighting problems, we're connecting them to objectives the audience already cares about.
3. Align on a Resolution & Reinforce the "whY"
This final step transforms insight into action by:
Proposing specific solutions that address both the logical obstacle and emotional motivation
Creating clear accountability for next steps
Documenting not just what needs to be done but why it matters
Building in check-points to measure progress
The "whY" in STORY is capitalized because it's often the most crucial element. When people understand and believe in the "why," they're more likely to persist when implementation gets difficult.
For finance professionals, this step should always include:
Clear metrics for measuring success
Specific milestones for financial impact
Identified risks and mitigation strategies
Regular review points to assess progress
This structured approach maintains our role as analytical leaders while driving the necessary changes our analysis suggests.
Making STORY Work in Different Financial Contexts
The STORY framework adapts to various financial communication challenges:
Quick Financial Updates
Lead with variance analysis in Stage-setting
Focus on key metrics that signal treasure/obstacle
End with clear next steps, even if small
Board Presentations
Start with market context and peer benchmarks
Connect financial outcomes to strategic objectives
Include specific decision points and recommendations
Technical Audiences (Other Finance Professionals)
Lead with detailed analysis but frame within larger business context
Show your work: document assumptions and methodologies
Focus on actionable implications of the analysis
Resistant Stakeholders
Invest heavily in Stage-setting with their trusted metrics
Use sensitivity analysis to demonstrate impact
Provide options rather than single solutions
Maintaining Financial Integrity While Driving Change
The greatest fear many finance professionals have about "storytelling" is that it might compromise our analytical integrity. But the STORY framework actually strengthens our ability to drive data-based decisions by:
Establishing Credibility: Starting with shared metrics builds trust
Maintaining Rigor: Using variance analysis and clear metrics keeps us grounded in data
Driving Action: Connecting analysis to strategic objectives makes our insights actionable
Creating Accountability: Building in review points ensures follow-through
Remember: Your role isn't to make the numbers look good—it's to help the organization understand and act on what the numbers are telling us.
The Future of Financial Leadership
People don't believe what you tell them. They rarely believe what you show them. They often believe what their friends tell them. They always believe what they tell themselves.
- Seth Godin
As finance continues to evolve from a reporting function to a strategic partner, our ability to bridge the gap between analysis and action becomes increasingly crucial. The most effective finance leaders will be those who can:
Maintain analytical excellence while driving organizational change
Connect financial insights to strategic objectives
Build trust across technical and non-technical stakeholders
Transform data into decisions
This is the essence of financial leadership: not just finding the truth in the numbers, but helping others see and act on that truth. The STORY framework gives us the tools to do exactly that.
