Finance

Do you see any need for basic finance/accounting training targeted at entrepreneurs?

Brett CAIA Managing Director at Azimuth

December 7th, 2017

Over the years I've mentored a lot of startups and entrepreneurs on basic finance and accounting issues. There is a lot of info out there, but it seems unfocused. Considering building a site with focused content (e.g. videos, articles) that would be targeted at giving entrepreneurs the basics of what they need to know. Appreciate any thoughts on this from the community--challenges/issues you've had in this domain, resources you've used, whether you'd pay for something like that, what topics would be most helpful. Thanks!

Anonymous

December 8th, 2017

There is a need, but there is resistance. I go to a few local networking events for startups on a pretty regular basis and about half of the people I meet would not pay for any work or info. They have questions, they have issues that they can't resolve but they do not want to pay. On the other side, you do have very interested people.

Bottom line is there should be options - all DIY, study from a resource like yours, hire someone, etc. You have a great idea and if you do end up building such a site, let me know as I will be interested in referring startups to you that want to learn on their own instead of hiring someone to do the work for them or explain it to them.

Charles Emelogu Co founder & CEO

December 8th, 2017

I think it is very essential for entrepreneurs to have basic finance/accounting training. It is part of the entrepreneurial guide required to scale in any entrepreneurial venture. Finance of course is one of the key success areas that drive entrepreneurial growth Karlee Weinmann (2012). It can be daunting for a business, if the leader (the entrepreneur) does not have finance knowledge or services of a finance expertise to provide guidance. Good understanding of the key financial ratios, the components that go into the income statement, the balance sheet, the cash flow systems within the business and what the ratios mean within the business helps to guide against entrepreneurial failures.

W Worster Entrepeneur

December 9th, 2017

Definitely