Since there’s an ongoing pandemic, people need face masks to keep themselves safe.
So what can you do? You can buy custom face masks for sale online. Then, you need creativity and innovation to properly market our product. You could engage with people on social media in fun ways, and build a community of supporters.
But there’s one other thing that is very much important when it comes to starting a business. And that is, of course, being financially savvy.
You should be able to analyze the numbers to understand the market, how to price, how to bring in more revenue, etc.
This is where many people falter. You get it–math is, simply put, hard. But you’re not hopeless. There are ways for you to become financially savvy. Here’s how:
Like many things that you need to learn about, finance can start with a book. To prepare yourself for dealing with the numbers that are related to your business, you can start the grind by settling down and reading.
There are many books out there that are specifically made for young entrepreneurs looking to learn more about finance before they could start their own business.
But one of the best books that you can turn to is Financial Intelligence. It’s written by Karen Berman, Joe Knight, and John Case.
The book’s subtext is “A Manager’s Guide to Knowing What the Numbers Really Mean.” With a subtext like that, you’ll know for sure that you can’t go wrong with this book.
Listen to Podcasts
One of the biggest problems with training ourselves in finance in your spare time is the lack of time. You might still be juggling a full-time job before you can start your business.
Plus, you might have kids that you’re looking after. There’s just not enough time in the day to sit down and read about finance. So what do you do? Well, you multitask. And you can do that with a podcast.
Like books, there are many podcast shows out there that you can choose from to learn more about finance. But your best bet would be So Money with Farnoosh Torabi.
The thing about podcasts is that it’s a bit hard to find the balance between informative and entertaining. But Torabi does that well here. Her award-winning show interviews high-profile guests such as Queen Latifah.
With such guests, she talks about how people could become smarter with money. You’ll definitely pick up countless tips from her as you prepare for your upcoming business.
Take an Online Crash Course
If you have more time and money in your hands, you can make the proper investment for your finance education. You can enroll in an online course on finance and directly learn from accomplished professors.
You can try enrolling in an online course at one of the best business schools in the world, Harvard Business School. With this course, you’ll gain a deeper understanding of the principles of finance. You’ll also get to understand the market that your business will operate in and make smart financial decisions.
With such a course, you’ll spend six weeks learning from Professor Mihir Desai, an award-winning professor at the forefront of corporate finance and tax policy. There’s no reason to ask for a better professor than him.
Reach out to an Experienced Friend
Sometimes, books, podcasts, and online courses just don’t cut it for you. You need more to gain a deeper understanding of finance. You need to also hear about actual stories of business owners.
You need to learn about the struggles that they faced and eventually overcome. That is why it’s also crucial to reach out to an experienced friend to know more about finance.
By talking to actual business owners, we’ll get a glimpse of what our work and lives could become once you actually become a business owner yourself.
You’ll hear stories about the good and bad financial decisions that they made. And from such stories, you’ll gain tips and what to avoid when you start making your own financial decisions.
With people feeling the instability of their jobs during the COVID-19 pandemic, there’s been an influx of new businesses that surfaced on our social media platforms.
People started selling all kinds of food that the internet users are crazy about. This is understandable, especially because people are online at all hours of the day these days. So, there’s a huge market online that you can tap into and make some income.
But before you could start your own business, be sure to prepare yourself so you’re ready to deal with the financial side of managing a business.