Heyo! Welcome to the $100 MBA Show where we take care of business so the business takes care of you with

our daily 10 minute business lessons for the real world. I'm your host, your

teacher Omar Zenholm. I'm also the co-founder of the $100 MBA, a complete business

training and community online and today you will learn the fundamentals of

finance. Finance is one of those topics that people cringe about in business but we're

going to simplify things and we're going to show you the essentials the things you

actually absolutely need in your business and to run a financially viable business.

Let's get down to business.

All right, let's talk about finance. You don't need an accounting degree to

understand finance and business. It's actually quite simple and when you're first

getting started there's only a few principles you need to

understand very well in order to have a financially viable business.

Well first of all why is finance so important?

Well you can't continue to do your business if your finances are not in order.

Sooner or later you're going to run out of money or you're not making enough money to cover your costs and you're just going to have to close your doors.

So we want to prevent all that. We want to make

sure that we're ahead of the game when it comes to finance. So the first thing you need to understand

is that finance is a pretty simple concept and it's a pretty simple equation. If you've ever done a budget, let's say for a vacation or something like that,

then you understand finance and business. It's pretty much the same thing. You're taking a look at how much money you actually have to spend on this vacation, how much the different things on the vacation

how much the different things on the vacation costs and need to make sure the costs

are not more than how much you can spend. Pretty simple right? There are a few other moving parts in finance and

business, but those are the basics when you're first getting started. There are two

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