IAM2141 - Understanding the 8 Business Pillars: 7. FINANCIAL

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Gresham discusses the significance of understanding that financial numbers are crucial in making informed decisions about hiring and investments. He emphasizes the need for thorough financial planning, budgeting, and the ability to interpret financial statements. The financial aspect of business goes beyond internal numbers. It includes taking loans, getting investments, and raising capital. Gresham mentions that being a good steward of finances, whether using personal funds or other people's money, is crucial for business growth and scaling. Gresham also emphasizes the importance of having a Minimum Viable Product (MVP) to prove the case for your product or service and attract investment. Furthermore, he suggests understanding financial reporting and analysis, forecasting, and budgeting as ways to minimize risk. He highlights the value of continuous learning and being aware of the economic outlook of the industry or location. http://cbnation.co/pillar
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https://www.perplexity.ai/search/How-many-businesses-cHljwtb0RUWmdhAN.712yg

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