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Coaching for Leaders

244: Improve Your Financial Intelligence, with Joe Knight

Coaching for Leaders

Dave Stachowiak

Careers, Business, Management

4.8 • 1.6K Ratings

🗓️ 9 May 2016

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Joe Knight: Financial Intelligence

Joe Knight, co-author of Financial Intelligence*, teaches us how to improve our own financial intelligence, so we can influence within organizations more effectively. He is a highly regarded finance and business literacy keynote speaker, trainer, and published author.

Quotes

Those who understand [financial statements] are the vast minority of people who are moving up in the corporate environment.
—Joe Knight

One of the problems with fraud is that you have these companies reporting profit, but it wasn’t real profit, and it was never converting to real cash.
—Joe Knight

Wall street, other investors, and banks have shifted to looking at cashflow as a concrete, tangible number.
—Joe Knight

It’s important never to lose sight of the fact that cash flow almost eliminates the possibility of fraudulent financial reporting.
—Joe Knight

We’re not trying to create high-level financial people; we’re trying to decode [financial statements] for the rest of us.
—Joe Knight

Resources

Resources for Business Literacy Institute:

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Transcript

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0:21.0

Have you ever been in one of those strategy meetings and people are throwing around those financial terms and talking about revenue and profits and net income and you don't really want to say anything but you don't quite have a grasp on some of the more advanced financial terminology. In today's episode, how you can improve your own financial intelligence to lead more effectively.

0:28.5

This is coaching for leaders episode 244.

0:33.0

Produced by Innovate Learning, Maximizing Human Potential.

0:38.0

Greetings to you from Orange County, California. This is coaching for leaders and I'm your

0:47.3

host Dave Stahoviac. Leaders aren't born, they're made.

0:52.8

And this weekly show will give you access to the best thinkers, resources, and actions that will help you to develop your leadership skills.

1:02.2

I'm really glad you tuned in today because speaking

1:05.2

of not being born with these skills and these skills needing to be things that we learn,

1:11.0

one of the key competencies that leaders need to at least have a fundamental

1:16.3

understanding of is the financials, the numbers, the money, the things that drive many of our organizations, whether we work in a

1:26.8

for-profit or a non-for-profit or even in a setting that is considered maybe volunteer work, but the financials, the underlying dollars and cents, really do move the decisions we make and affect so much about organizations and how we interact with others.

1:45.6

And that's why an essential understanding of that's so critical.

1:49.2

It's not something that most of us get in school, even those of us who have had training in business.

1:54.5

And that's why I'm really glad to be welcoming Joe Knight to the show today.

1:58.4

Joe is a highly regarded finance and business literacy keynote speaker.

2:03.0

He's a trainer and a published author.

2:05.0

And the reason he got on my radar screen is he's the co-author of the book Financial Intelligence,

2:11.0

and it's also a series published by Harvard Business Review.

2:15.4

It is the most popular book in the series Financial Intelligence and the reason that it got on

2:20.0

my radar screen initially is several years back I saw that it was listed as one of the

2:25.4

100 best business books of all time. Joe welcome to coaching for leaders.

2:30.3

Thanks Dave, I appreciate the opportunity to be on.

...

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