GB Ep 79: Where to Learn More About Finance & Operations

Today I’m going to list out some online and offline resources you can go to learn more about finance and operations. A lot of focus goes to product, sales and customer service. There isn’t anything wrong with that, but you do need to get your finance and operations down too.

  • Finance and operations may be taught in MBA courses, but the truth is that most entrepreneurs don’t have MBAs. [01:27]
  • I know there’s a gap I’m missing when it comes to this stuff, but I’m talking about more granular things than just balance sheets – like a CVP analysis. [01:36]
  • On YouTube, there’s a channel called MBA Bullshit that talks a lot about finance and operations stuff that’s helpful to entrepreneurs and aspiring entrepreneurs. [01:54]
  • Khan Academy has videos about markets, economics, and finance that helps establish a good foundation to build the rest of your learning off of. [02:13]
    • Keep in mind this won’t replace a proper course, so take one if you get a chance.
  • I’ve heard great things about the Goldman Sachs 10,000 Small Businesses program. [02:38]
    • They put about $500M into this program. It’s really intensive and requires a lot of commitment (8-10 hours per week) just to learn business and get your hands dirty. It’s free, but if you miss one class they kick you out.
[spoiler title=’Transcript’ collapse_link=’true’]

Hello and welcome to another edition of Growth Bites.

Today we are going to be talking about where you can go online and also offline to learn about finance and operations in general.

We’re all focused on building a great product. We’re all focused on building a great service. We’re all focused on sales. That’s great stuff but, if you’re an entrepreneur or if you’re a senior executive, you have to get your finance and operations down. And I certainly have a lot to work on when it comes to that stuff. And really, the stuff that you might learn when you’re trying to get an MBA, but most entrepreneurs doesn’t have an MBA. So, there’s a lot of good resources online that I found and I do know that there’s a gap that I’m missing when it comes to this stuff. And I’m not just talking aobut the balance sheet type of stuff. I’m talking about getting a little more granular as to where you should be looking at such as a CVP analysis and things like that.

So, what I like to do is when I go on YouTube, there is a channel called MBA Bullshit. And he talks all about different Finance and more operational stuff that would be helpful to you as a entrepreneur or aspiring entrepreneur. So, that’s MBA Bullshit. Check out that channel. It’s a great one. Khan Academy has been pretty good as well. What Simon Con’s initial videos when you look at economics, you look at markets, you look at finance. In general, he teaches some good stuff around. At least, helps you establish some good foundation that go off for first. By no means, it’s going to replace a course. Definitely, if you do have an opportunity to take a course, go on and do it. What I’ve heard is that, I’ve heard some great things about the Goldman Sachs 10,000 Small Businesses Program. Not sure, if it’s just exclusive to L.A. I’m hoping that it’s around the United States. But they have port about 500 million dollars about this program. It’s really intensive and there’s a lot of commitment. You probably dedicating, we’re probably talking about 8-10 hours a week, just to learn and just to really get your hands dirty when it comes to business. So, they’re going to put you on a cohort with other entrepreneurs in your space to interview you as well. And then, you get into it. It’s completely free to do it. You just have to be committed. And if you even missed one class, they’ll kick you out. So, definitely check it out. Goldman Sachs is teaching something like this. It’s worth doing it, especially if it’s free. Just to get yourself to the next level when it comes to knowing the stuff.

So, again it’s MBA Bullshit. That’s the first one. Second one is Khan Academy. Both of these are, they’ll get you the rudimentary understanding. Other than that, you can buy some books and continue to Google around, check out some other YouTube videos. But I found those two to be a good starting point. And then, when you want to go a little more deeper, check out Goldman Sachs 10,000 Small Businesses.

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