The Importance of Knowing Finance

The Importance of Knowing Finance

            As I continue on this journey we call the business world, I am learning something new every day.  It seems every time I post a new blog I am posting on what I have learned from my past experience.  And today it is the same!  I now understand why I took finance in my undergraduate program. Now that I am older I wish I would have paid attention a little bit more, but this is all right.   Now that I am pursuing my masters, and taking another finance class I see why every successful business had some form of a CFO. 

            So at this point in my growth as company I have found a CFO for my business.  Now some people may think that I am going to lose control, or be careful they might steal your money.  Well the current class I am taking now is giving me the tools that are necessary to not this happen.  My professor told us that we do not have to be finance wizards, but by the end of this class we will know enough to where we can look at financial statements, and understand what we are reading.  I think this is another step and pushing me to be the great CEO that I can become.  As a CEO of successful company I should know how much money my company needs to run the day-to-day operations, and what we need to make a profit, and live to see another day.  For many companies this can become their downfall, and this is why they do make it.  It is not that they are a bad CEO, but it is just they did not surround themselves with the right people to show where their dollars were being spent.  Also, many small businesses the CEO are the CFO, and COO, which can be too many hats sometimes.  So again, I will let the world know that if you want to have a chance of being a successful business owner please know your finance or please put someone who can lead your company in the right financial directions.