The main challenge that you will face when you haven't had any training in finance is to make sure you don't waste too much time in training yourself. You will face however different challenges to find the right training for you. You have different options: 1. Get a degree in finance 2. Train yourself by going through academic books, 3. Find a solid Accounting Tutoring or 4. Have a personal tutor, which in other words means have an Accounting 101 version of training.
Let's go through these options one by one:
1. Get a degree in finance: Whilst this sounds great, this requires a lot of time invested. And even though I agree with you that accounting knowledge is vital to your business, you don't need a full degree for understanding accounting unless you want to become an accountant yourself or get a job in finance and this is not what you're about. Therefore I would not recommend it.
2. Train yourself by going through academic books: Whist this is very admirable, I can assure this will be a very painful process, particularly if you don't have any background in finance. Remember, accounting is a very dry subject and get comfortable on your own with something that by definition is your worst nightmare and that you need to know out of necessity will be far from an enjoyable experience. The likelihood you will get very depressed and frustrated out of your self-training experience in gaining accounting knowledge is very high.
3. Find a solid Accounting Tutoring Program: This sounds to be nowadays the most preferred option to learn a new skill. You need to make you find the right program which answers your needs. You don't want accounting training to pass your accountant exam but to run your business more efficiently. You want to know exactly where to look at and be able to know straight what needs to be improved in your business or whether your business will get a good ranking in the eyes of your banker. This the reason why accounting knowledge becomes handy and why you can radiate confidence when you handle your finances.
4. Accounting 101: This is from far the best option but also the most expensive one. If you can find a professional who knows exactly what your needs are in terms of accounting understanding, then you will get a bootcamp training and you will get out it stronger, more confident and more knowledgeable.
The day you will be able to handle your handle your finances with confidence and talk to either your accountant or banker the way you usually do with your business partners, a big weight will be lifted off your shoulder. And you will feel more empowered and ready to take your business to the next level.
Let's go through these options one by one:
1. Get a degree in finance: Whilst this sounds great, this requires a lot of time invested. And even though I agree with you that accounting knowledge is vital to your business, you don't need a full degree for understanding accounting unless you want to become an accountant yourself or get a job in finance and this is not what you're about. Therefore I would not recommend it.
2. Train yourself by going through academic books: Whist this is very admirable, I can assure this will be a very painful process, particularly if you don't have any background in finance. Remember, accounting is a very dry subject and get comfortable on your own with something that by definition is your worst nightmare and that you need to know out of necessity will be far from an enjoyable experience. The likelihood you will get very depressed and frustrated out of your self-training experience in gaining accounting knowledge is very high.
3. Find a solid Accounting Tutoring Program: This sounds to be nowadays the most preferred option to learn a new skill. You need to make you find the right program which answers your needs. You don't want accounting training to pass your accountant exam but to run your business more efficiently. You want to know exactly where to look at and be able to know straight what needs to be improved in your business or whether your business will get a good ranking in the eyes of your banker. This the reason why accounting knowledge becomes handy and why you can radiate confidence when you handle your finances.
4. Accounting 101: This is from far the best option but also the most expensive one. If you can find a professional who knows exactly what your needs are in terms of accounting understanding, then you will get a bootcamp training and you will get out it stronger, more confident and more knowledgeable.
The day you will be able to handle your handle your finances with confidence and talk to either your accountant or banker the way you usually do with your business partners, a big weight will be lifted off your shoulder. And you will feel more empowered and ready to take your business to the next level.
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