Commonsensical Financial Management Fundamentals For Startups
by Gogo Erekosima, Strategic Business Coach
Financial modeling & Strategy
Over the last 2 months, I've taken a second look at my personal portfolio of abilities as they relate to business-building and business growth. My biggest discovery was that I've spent the last 12+ years building my business acumen in every area but one - financial management.
It's funny because when I was at UMCP, my accounting and statistics courses were among those courses where I regularly achieved "A"s instead of "C"s.
I've spent the years since 1999 reading thousands of books, blogs, mags, journal articles and even taking courses and attending courses in business, marketing, and sales areas.
In my journey towards becoming the ultimate auto-didactic business builder and consultant, I've obsessed over all the following areas:
- Strategy (Business, Organizational, Personal)
- Strategic Thinking, Problem-solving and Decision making
- Management (Process, Teams, Interpersonal Relationship, Sales team)
- Sales (Selling propositions, sales techniques, process, management and training)
- Marketing (Positioning and Branding, Small Biz, Digital and Direct response)
- Motivation, Mind Tools & Human Performance
- Salesmanship, Influence & Persuasion
While all of these disciplines are good (even great) and have left me enlightened and occasionally enriched, there's a big time glaring need left out of the above - financials.
So I started scrounging through Amazon to find financial books, went through my old University syllabi to find appropriate textbooks, looked up consultant websites for their curricula and protocols, and even signed up for online excel courses (to go from competent to pro). I even collected a series of articles on financial modeling to study preliminarily, assuming I'd have to go buy a book or take an online/offline course.
If you're a current subscriber, or regular reader of my blog, you know how much I believe in commonsensical (stripped down, practical, context appropriate) solutions.
Yesterday, somewhat by chance, I came across a blog post by one of my very favorite entrepreneurial success stories - Erica Douglass. This financial modeling article (& video) introduces a apparently commonsensical solution & tool that I'm definitely going to try myself.
It appears to be a $40 dollar or so product, but if you use her coupon code you'll get $5 bucks off. I'm guessing she's an affiliate of the product. Whether or not she is, she tends to always deliver superlative content and very good advice, and I'm sure this time is no different.
If you click the link above, you can join me on your own journey to becoming a more competent financial manager. Let me know by leaving comments here, on Twitter, or on my new thought leader blog on Tumblr to let me know how you plan to go about your journey.
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