Do Looks Matter?
(In modeling.)
In FP&A, models are a representation of how we think.
They don’t just calculate — they define how we see the business, how we argue a point, and how we build confidence in the numbers. In my work, I see a very wide range of Excel models, that evoke a variety of reactions in different people. It often leaves me wondering: Do looks matter in modeling?
The Wild World of Models
Some models— including the one’s frequently found on an entrepreneur’s laptop — have grown organically. They begin somewhere in the top-left corner of Excel, meander down and right, with white space that may (or may not) get used for somewhat related calculations at some point.
Occasionally they spill onto other tabs, where tables and calcs decline into vestigial components, but even the authors hesitate to delete them: “What if it’s linked to something important?”
But it’s amazing how far you can get on these scrappy models.
“It’s OK,” I say. “Everyone has spreadsheet dysmorphia — just send me the file.”
The Shiny Side
Then there are the shiny ones.
A quick look at the author’s LinkedIn usually reveals a background in Private Equity, where they were drilled in the art of clean, navy-blue-on-white formatting and those next-level formulas like OFFSET and ARRAY.
They’re detailed, structured, and impressive, and folks are more than happy to share them.
And they can communicate a lot about how the business works — if you’re willing to unravel their nested logic.
But they’re also almost always overkill. And all too easy to break in the wrong hands.
“I think I broke the link to ____,” says the CEO.
“It’s OK,” I say. “Just send me the file.”
Finding the Balance
The most effective models are almost always the simplest.
That doesn’t mean they start that way — in fact, you often need to build something complex first to understand what the simple version should be. But that extra step is worth it. Simple models are easier to read, easier to use, less likely to break, and far easier to repair when they do.
Once the logic works, focus on how the story of the model unfolds.
Can someone else follow the progression of your calculations? I prefer to use a few extra rows and clear intermediate steps (which can always be grouped and hidden) than rely on an opaque array formula that even the author will find hard to decipher.
Then, and only then, think about how it looks.
Because yes — in our aesthetic-obsessed world design signals credibility, and simple visual order helps people engage with your work and trust the results. Consistent formatting isn’t vanity; it’s communication.
You don’t need to be a graphic designer. Just find a set of simple rules that work for you and apply them consistently. Leaving the top row and left column blank to frame your work creates a feeling of spaciousness. Blue-on-white titling does work well, leaving black for data, and accent colors for key inputs or outcomes. Grouping and color-coding your tabs helps multi-sheet workbooks read like a well-organized book. Placing key outputs where they can be seen without scrolling helps focus the attention of users.
A good model should feel easy to read — calm, intentional, and well thought out.
Because a simple, clean model don’t just look better — it works better, for everyone.
