In this episode of Financial Modeler’s Corner, host Paul Barnhurst sits down with Scott Powell, co-founder and board member of the Corporate Finance Institute (CFI), to discuss the principles and pitfalls of financial modeling. The conversation centers around how overcomplication, legacy models, and misused functions can undermine even the most polished models, and how thoughtful planning, stakeholder consideration, and service-oriented teaching can significantly enhance modeling effectiveness.Scott Powell brings over 25 years of global experience in corporate finance education and financial modeling. He is a founding member of the Corporate Finance Institute, where he has led the creation of impactful learning tools and courses. Based in Vancouver, Canada, Scott has worked with major financial institutions worldwide and is deeply passionate about practical finance education and the power of financial literacy to transform lives.Expect to Learn:<ul><li>Why financial models often fail and how to avoid those pitfalls.</li><li>The importance of balancing technical precision with stakeholder usability.</li><li>How teaching and empathy enhance modeling skills.</li><li>Key Excel techniques and when to avoid overengineering.</li><li>Scott’s insights into using AI and advanced Excel tools to stay current.</li></ul> Here are a few quotes from the episode:<ul><li>"Every time you're in Excel, try to learn just one new thing. In a year, you're going to have learned a ton." - Scott Powell</li><li>"If you open your model three days later and can’t understand what you did, then you made it too complex." - Scott Powell</li><li>"Don’t start building your model until you understand the end goal and the user’s needs." - Scott Powell</li></ul> Scott’s thoughtful and service-driven approach makes this episode a must-listen for anyone in the world of financial modeling. His real-world stories, practical Excel strategies, and emphasis on simplicity offer powerful insights. Whether you’re building your first model or refining your 100th, Scott’s advice will help you level up. A valuable guide for modelers who want to build with purpose and clarity.Follow Scott :<ul><li>LinkedIn - <a href="https://www.linkedin.com/in/scott-powell-cpa-fca-fmva-84baa71/overlay/photo/" rel="noopener noreferrer" target="_blank">https://www.linkedin.com/in/scott-powell-cpa-fca-fmva-84baa71/overlay/photo/</a></li><li>Website - <a href="http://corporatefinanceinstitute.com/" rel="noopener noreferrer" target="_blank">corporatefinanceinstitute.com </a></li><li>Company - <a href="http://learningstrategiesgroup.com/" rel="noopener noreferrer" target="_blank">learningstrategiesgroup.com</a></li></ul> Follow Paul:&nbsp;<ul><li>Website -<a href="https://www.thefpandaguy.com/" rel="noopener noreferrer" target="_blank"> https://www.theFP&A ndaguy.com </a> &nbsp;</li><li>LinkedIn -<a href="https://www.linkedin.com/in/thefpandaguy/" rel="noopener noreferrer" target="_blank"> https://www.linkedin.com/in/theFP&A ndaguy </a>&nbsp;</li><li>YouTube -<a href="https://www.youtube.com/@thefpaguy8376" rel="noopener noreferrer" target="_blank"> </a><a href="https://www.youtube.com/@thefpandaguy" rel="noopener noreferrer" target="_blank">https://www.youtube.com/@theFP&A ndaguy</a></li></ul> Follow Financial Modeler's Corner &nbsp;<ul><li>LinkedIn Page-<a href="https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true" rel="noopener noreferrer" target="_blank"> https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true</a> &nbsp;</li><li>Newsletter - Subscribe on LinkedIn-<a href="https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984" rel="noopener noreferrer" target="_blank">https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984</a></li></ul> Sign up for the <a href="https://fminstitute.com/afm/" rel="noopener noreferrer" target="_blank">Advanced Financial Modeler Accreditation</a> Today and receive 15% off by using the special show code ‘Podcast’. Visit<a href="http://www.fminstitute.com/podcast" rel="noopener noreferrer" target="_blank"> </a><a href="https://bit.ly/497oAqW" rel="noopener noreferrer" target="_blank">https://bit.ly/497oAqW</a> and use the code “Podcast” to save 15% when you register.  In today’s episode: [00:00] - Trailer&nbsp;[01:14] - Welcome and Guest Intro[03:00] - Model Horror Story[10:09] - Founding CFI[14:13] - Memorable Teaching Moments[16:30] - Starting a Model[21:28] - Technical vs. Soft Skills[24:20] - Advice for Trainers[30:23] - Keeping Up with Excel[39:44] - Fun with Excel[41:18] - Rapid Fire Round[47:21] - Final Thoughts and Wrap-Up

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How To Simplify Complex Financial Models And Save Time with Scott Powell

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