First, learning to speak English – Finance, the language of business.

First, learning to speak English – Finance, the language of business.  So much of the text up to this point has pointed toward the obvious conclusion of needing to adopt a language - or at a minimum a conversational capability in a language – that senior managers understand.  That language is finance.  There are several ways to do this.

•        Now, nobody freak out when I start with the most difficult and committed route to learning this language - I am fully aware of how unrealistic this may be for some of you - but not all!  So here we go - attend a Master in Business Administration (MBA) program and focus or concentrate in finance.  This is a pretty extreme route – whether done full time or a typical period of two years – or done over an extended period of time on weekends.  While extreme in terms of investment of your time, it is also invaluable for two significant reasons.  First, you will learn the basics of finance while completing nearly any MBA program.  The extent of that learning is determined by the program’s emphasis on finance (either as a core brand strength such as the Wharton school or as a significant option wherever you choose to attend) and your desire to actually learn the subject.  Second, and perhaps more importantly, you will receive a stamp of certification in the world of business that you most likely will understand the basics of financial management and analysis. 

Some stamps are more valuable than others.  I will leave it to the reader to determine what their goals are in obtaining an MBA.  If it is to have a recognized degree from a highly respected graduate school then resolve yourself to make the investment to gain admission.  If it is to have an MBA without regard to the recognition of the school brand, then I would recommend doing this as quickly and inexpensively as possible.  Prestigious MBA graduate programs cost prodigious amounts of money!  But make no mistake, the big name schools cost more because they position you better for the longer term.  Their “selectivity” in the admission process is a filter and sorter for the potential employer.  The employer doesn’t have to gamble that you’ve got the right stuff.  The degree admission process has taken care of that expensive and risky step for them.  But again, this is a cost/benefit analysis.  There are plenty of CEOs in the world that do not have MBAs from any institution. 

•       Take a course, or two, or three, or more, in finance at a local university, college or community college.  While not as impressive to employers as the MBA degree, it nevertheless achieves the same end.  If you desire to advance solely on your merits and performance – or don’t have the inclination, time or money to get an MBA – this is a smart route.  You will achieve your goal of speaking the finance language which is paramount to the translation of your marketing successes (and most likely your future outside of marketing) to senior management.

•       Take a course on line (or if you’re old fashioned, read a book!) from an infinite number of great programs and sites that will allow you to proceed at your pace at a more individualized rate of progression.  If you’re not necessarily a people-person, or simply don’t like the pace of the group learning experience, this might be the best option for you.  Again, you achieve the objective of fluency regardless of the route.

The point is to understand that this will be an investment in your time.  The amount of time you invest is up to you – but no way will you achieve fluency without outside instruction of some sort.  This is not something easy to learn on the job.  You will have to dedicate some part of your private or business life to acquiring this critical skill set.