Understand the Role of Money


show more Understanding the role of money provides you with in-depth training on Business. Taught by Dave Crenshaw as part of the Thinking Like a Leader show less
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Understanding the role of money

Many people view money from an emotional perspective, thinking about the things that money can buy, or its ability to provide for their family. In a business context, we want to remove emotion from the discussion and use money as a score to measure how well the business is doing. No matter what position you hold in your company, you can become savvy about money. This doesn't mean becoming an accountant. It's about understanding the basics of money in order to measure your company's success.

There are three basics to study: profit, cash flow, and budget. Let's start with profit. In its simplest terms, profit means that income is greater than expenses. If the business brings in more money than it spends, the business is profitable. And if expenses are higher than income, it has a loss. There are a couple of ways you can begin helping your company to become more profitable. The first is learning about which products and services your company provides that are the most profi...

Understanding the role of money
Video duration: 4m 38s 52m 19s Appropriate for all Updated Jan 03, 2013

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Understanding the role of money provides you with in-depth training on Business. Taught by Dave Crenshaw as part of the Thinking Like a Leader

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