Finance
This is a preview of a concept contained in The Personal MBA by Josh Kaufman, a book that will help you master the fundamentals of business, hone your business instincts, and save a fortune in tuition. The Personal MBA distills the most powerful principles of business and delivers them quickly and concisely. Order your copy now…
What is “Finance”?
“He had heard people speak contemptuously of money: he wondered if they had ever tried to do without it.” — W. Somerset Maugham, author of Of Human Bondage
Key Points:
- Finance is, simply put, watching the money flowing into and out of a business, and then deciding how to allocate it and determining if you’re getting the results you want.
- Every business must bring a certain amount of money to keep going. Finance helps knowing what to do with your revenue.
- Finance keeps an eye on your money.
Questions for Consideration:
- How much money is flowing in, and how much is flowing out?
- How much money do you need to keep going?
- How can you capture more value without reducing the value you provide to your customers?
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