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08. Money Talk 101: Financial Literacy Mini-Crash course for beginners

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Let me make something extremely clear, as much as you love your offer, sell it and oversell it if you don’t understand how finances work, you are less likely to accumulate wealth in the long-run, I know that a little too well. As creators we tend to obsess over the work, the craft and we neglect an extremely important part of the business, how money flows in your business, if you ain’t got no cash flow, your business is on life support! Period! We need to make our money, keep that money and make more of that money overtime.

So today we are acquainting ourselves with financials terms so you don’t end up rolling your eyes at your accountant or worse yet panic when your bills are overdue. So understand money to make money! Look at this as a mini finance masterclass. As a beginner in the world of business, understanding financial terminologies is crucial for the success of your business; so I am going to do a quick run through of those terms. Understanding these financial terms is essential for anyone who wants to start a business, pitch to investors or even invest in the stock market. By familiarizing yourself with these concepts, you can make better financial decisions and avoid common pitfalls that can derail your business.

If it seems daunting at first, fret not! Take it one step at a time and correlate it to your current business model(s) and your accounting system. So as you are ready to navigate the world of both personal and business finance, here are some of the terms that will help you make informed decisions about your money and your time. Now get your notepad and pen, lets get started! We will discuss 45 concepts divided into 8 specific sections to help you categorize them as you run your finances.

Let me know where you are on your journey, leave me a note below…

Xo,

Ange

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