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FLF, LLC

Ep. 192 - The Job of Business Finance - Part 1 [Business 300]

FLF, LLC

FLF, LLC

News

4.6949 Ratings

🗓️ 4 June 2025

⏱️ 4 minutes

🧾️ Download transcript

Summary

One of the areas where business people are tempted towards irrelevant fluff is in the area of Finance. There are so many metrics that could be tracked, so many numbers that could be calculated, so many ratios and statistics that could be presented. If it wanted to, the Finance Department could be the business BS department. 

The 4 things that the Finance Department should focus on in order to provide value to customers and owners are Data, Analysis, Insight, and Action. 

Transcript

Click on a timestamp to play from that location

0:00.0

Hello and welcome to Business 300.

0:10.0

My name is Philip Kulenshov and this is 300 seconds about business.

0:13.0

We're all a busy people, so I have five minutes or less to get my point across.

0:27.1

Little by little, we're trekking our way through all things business, five minutes at a time.

0:33.3

As a little side note, everything I talk about here on Business 300 comes from my 15 plus years of business experience.

0:37.1

These are points that I've had to learn through application and misapplication.

0:42.3

I've picked up all sorts of nuggets, some golden and some made of other substance.

0:45.3

I was not a business major, nor do I have any degree.

0:51.7

I did go to UW in Seattle for three quarters 15 years ago, but I dropped out in order to get involved with a startup.

0:54.5

I'm still with that same startup as we've started many more things. It has definitely been a trick. And while trying to build these businesses,

0:59.9

I've had to get other people to follow the path I'm laying out. Wrong decisions have not only

1:04.6

had financial and personal implications, but I've also compromised my leadership weight as poor

1:09.6

decisions leading to bad consequences make it harder for people to trust the one making the decisions.

1:14.6

So there hasn't been much room for any sort of fluff or hot air in this business journey.

1:19.6

People quickly see through empty words and pretty rhetoric.

1:23.6

So the stuff I'm bringing to you here, some theoretical and some practical, is stuff that I've had to learn by experimenting, learning, and doing.

1:31.4

My action and the results it brings is all I have.

1:34.5

That's all I have to offer.

1:36.2

One of the areas where business people are tempted towards irrelevant fluff is in the area of finance.

1:41.8

There are so many metrics that could be tracked, so many numbers that could be calculated,

1:46.0

so many ratios and statistics that could be presented.

1:48.9

If it wanted to, the finance department could be the business BS department.

...

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