How to get the best deal from venture capitalists with your Financial Intelligence with Joe Knight
Entrepreneurs on Fire
John Lee Dumas
4.8 • 4.1K Ratings
🗓️ 1 December 2017
⏱️ 24 minutes
🧾️ Download transcript
Summary
Joe is a Harvard business best-selling Author and Founder of Setpoint Systems and the Business Literacy Institute. He provides venture capital seed money and enjoys mentoring startups.
Top 3 Value Bombs:
1. The reason every person starts a business is for the money.
2. Your dreams will never be realized if your business is not profitable.
3. Always look at your cash flow to evaluate how well you're doing.
Visit Joe's website - Business-Literacy
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Transcript
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| 0:00.0 | Light that spark fire nation JLD here and welcome to episode 1867 of EO Fire. |
| 0:11.3 | Right now with entrepreneurs on fire seven days a week and if you're ready to accomplish |
| 0:17.1 | that one big goal, visit the Freedom Journal dot com and you'll accomplish that goal in |
| 0:22.9 | 100 days. Now let's show it today's featured guest Joe Knight. Joe, are you prepared to ignite? |
| 0:31.1 | I'm on fire. Yes, I love it. Joe is a Harvard business best selling author and founder |
| 0:37.1 | of set point systems in the business literacy institute. He provides venture capital seed |
| 0:43.7 | money and enjoys mentoring startups. Joe, take a minute. Fill in some gaps from that |
| 0:48.0 | intro and give us a little glimpse of your personal life. |
| 0:50.4 | Well, you know, John, we start everything started with set point and I got involved in |
| 0:54.9 | set point because two engineers wanted to start a business where they could get into the |
| 0:58.2 | amusement park ride business and also build factory automation. My role there was to help |
| 1:02.9 | them make it a very open financial company. I came from Ford Motor Company MBA from Berkeley |
| 1:08.8 | and wanted out a corporate America and wanted small business opportunities. So we built a |
| 1:13.3 | business around the philosophy that if you share the numbers with the employees on a weekly |
| 1:16.9 | basis, give provide bonuses, keep everybody in the loop on the statements, train them on |
| 1:21.7 | the statements. You can grow a really strong business. Out of that, I developed a method |
| 1:26.8 | to teach finance, to teach how to read the statements, how to understand them and how |
| 1:30.6 | to use them as a tool in your business. That led to the book that you mentioned financial |
| 1:34.5 | intelligence, a best seller for Harvard Business Review Press. That's grown a business called |
| 1:39.3 | the Business Literacy Institute. When I'm not involved in set point systems, I'm involved |
| 1:44.8 | in my training company. I travel around the world, work with major Fortune 500 companies |
| 1:49.0 | all the way down to startups, helping them learn how to understand their financials, how |
... |
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