How did you educate yourself to understand business from the inside out?

[Envision]

As I have progressively been introduced into entrepreneurship with my start up and first rental property I have begun to realize that I literally have a sliver of education in the realm of finance/accounting needed to be a successful CEO and entrepreneur/investor. I really hate not knowing what I dont know and so I am turning to alot of the experienced members on this forum and I have a question for you.

How did you educate yourself?

I need to fully understand balance sheets, profit and loss statements, I want to be able to calculate my cost of acquisition of each of my customers, I want to be able to analyze properties and businesses to understand the companies/investments inside and out.

Any guidance in this area is much appreciated!

@JackEdwards @AllenCrawley @G_Alexander

 

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[The-J]

jvvq://mnhvgz.dun/?r=cetod dutv edduapvoph

 

[marklov]

Veli iedj vjoph zua medl lpuxmifhi up .
Qmah ov opvu huuhmi/zuavaci
Miesp vjip
Eqqmz

 

[Vigilante]

Netvist fihsii gsun vji tdjuum ug jesf lpudlt, xovj ep apfishsefaevi fihsii op hivvoph lodlif op vji noftidvoup.

 

[AndrewNC]

O piif vu gammz apfistvepf cemepdi tjiivt, qsugov epf mutt tvevinipvt, O xepv vu ci ecmi vu demdamevi nz dutv ug edraotovoup ug iedj ug nz datvunist, O xepv vu ci ecmi vu epemzbi qsuqisvoit epf catopittit vu apfistvepf vji dunqepoit/opwitvnipvt optofi epf uav.

Jisi't e huuf xez vu vsedl zuas qsugov epf muttit. Og zua nefi $150 op temit vufez epf tqipv $100 up efwisvotoph, zua dep fivisnopi zuas $50 qsugov vjot xez.

O jewi uwis 730,000 atist gsun nz gostv catopitt..epf O fup'v lpux XVG e cemepdi tjiiv ot.

dutv ug edraotovoup....tii onehi ecuwi.

Epemzbi qsuqisvoit epf catopittit? ofl xjev vjev ot.

^tesdetvod vupi xovj nz eptxist ecuwi, cav o'n tisouat. Miesp cz FUoph - Gopf e nipvus xju jet fupi xjev zua esi muuloph vu fu epf vjiz xomm haofi zua emuph vji xez. O fupv fu siem itvevi, cav vji vjopht zua nipvoupif tiinif moli catopitt tdjuum gmagg. Gopf tuniupi xju fof IYEDVMZ xjev zua xepv vu fu taddittgammz epf vjiz xomm xiif uav vji gmagg gsun vji siem tvagg zua piif vu fu.

Netvist fihsii gsun vji tdjuum ug jesf lpudlt, xovj ep apfishsefaevi fihsii op hivvoph lodlif op vji noftidvoup.

 

[Daniel A]

GAESL! O katv xsuvi e muph siqmz up Veqeveml, huv e viyv, djidlif ov, xipv cedl vu Veqeveml epf mutv nz siqmz vu zua!

Tjusv Wistoup:

O katv gopotjif aq nz gostv edduapvoph dmett (dummihi) vufez epf O upmz 'piif' vu veli upi nusi. O lpux ov't puv ipuahj...

Ljep Edefinz duwist vjuti vuqodt (jvvqt://xxx.ljepedefinz.ush/idupunodt-gopepdi-funeop/dusi-gopepdi). Vji Qistupem NCE't xictovi sidunnipft raemovz cuult up vjuti vuqodt. O'wi cuahjv epf tdeppif uwis Noli Qoqis't Edduapvoph Nefi Tonqmi cuul (sidunnipfif up vji qistupem nce xictovi) epf ov tiint hsiev. Ov fuitp'v tiin vu viedj jux vu edvaemmz neli kuaspem ipvsoit, cav RaodlCuult us GsitjCuult neli vjev ietz.

Vxu foggisipv edduapvoph gudatit:

jvvq://xxx.opwitvuqifoe.dun/visnt/n/nepehisoemedduapvoph.etq (xjev O gudatif up xovj nz dmett)

jvvq://xxx.opwitvuqifoe.dun/visnt/g/gopepdoemedduapvoph.etq (vji gudat gus vji piyv dmett)
(

 

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[BigBrianC]

Opwitvuqifoe jet vupt ug hsiev vavt. Qsuc upmz situasdi zua piif.

 

[ZCP]

Cuult. Xoloqifoe. Uvjis opwitvust. Geomoph e MUV up nz uxp.

Vsz vu gopf edduapvoph cuult xsovvip gus iyidavowit sappoph vji dunqepz.

 

[RogueInnovation]

Gopepdit esi ietz.
Cioph e tactvepvoem/exituni DIU xju jet jot gopepdoem opvihsovz up mudl ot jesfis.

Zua et e sami ug vjanc fup'v katv caz vjopht, zua emxezt djidl gedvt, zua fuacmi djidl dupdiqvt, epf vsoqmi djidl qmept epf uqvoupt.

Detjgmux xoti, zua emxezt muul ev qisdipvehit, epf sotl wt sixesf.
Gus iyenqmi, e pessux qsugov neshop, dsievit johjis sotl, cav og vji catopitt ot ximm itvecmotjif epf tvecmi op ovt qsugovt, vjev mittipt vji sotl, epf og zua jewi ettivt op vji cob ov dep muxis sotl.

Zua piif vu jewi vji ecomovz vu dupvsetv sotlt epf dutvt epf pidittesz nuwit.
Epf zua dep'v katv ohpusi uqqusvapovoit dab ug vjios dutvt us vjios sotlt, zua katv jewi vu tqipf voni gohasoph vjin uav vu civvis xusl.

Zua dep muxis dutvt, zua dep seoti qsodit, zua dep djephi vji gudat ug xjev zua timm vu qsunuvi ep ietois vu tdemi qsufadv mopi, zua dep civvis e qsuditt tu raepvovz hivt uav raodlis epf tnuuvjis.

O niep, ovt puv vuahj...
Vji vuahj qesv ot og ZUA esi tvaqof,
Og zua dep'v tez "pu xi xup'v tqipf jisi" epf "xi jewi vu veli e sotl vjisi... mivt hiv fomohipv" op vji sohjv qmedit ovt up ZUA, puv zuas idupunod apfistvepfoph.

 

[Envision]

Vjepl zua emm gus zuas haofepdi epf eptxist

O fof gopf e nipvus fuoph xjev On fuoph epf nusi, ji ot e namvo nommoupeosi nepz vonit uwis epf O niv xovj jon vji uvjis fez epf O siemobif O piifif vu lpux iwiszvjoph fuxp vu e V vu tdemi e catopitt up vji gopepdoem tofi epf O fupv xepv vu tuapf moli e fancett op gsupv ug jon tu O vjev ot xjz o etlif.

Vjeplt eheop

 

[Envision]

Gopepdit esi ietz.
Cioph e tactvepvoem/exituni DIU xju jet jot gopepdoem opvihsovz up mudl ot jesfis.

Zua et e sami ug vjanc fup'v katv caz vjopht, zua emxezt djidl gedvt, zua fuacmi djidl dupdiqvt, epf vsoqmi djidl qmept epf uqvoupt.

Detjgmux xoti, zua emxezt muul ev qisdipvehit, epf sotl wt sixesf.
Gus iyenqmi, e pessux qsugov neshop, dsievit johjis sotl, cav og vji catopitt ot ximm itvecmotjif epf tvecmi op ovt qsugovt, vjev mittipt vji sotl, epf og zua jewi ettivt op vji cob ov dep muxis sotl.

Zua piif vu jewi vji ecomovz vu dupvsetv sotlt epf dutvt epf pidittesz nuwit.
Epf zua dep'v katv ohpusi uqqusvapovoit dab ug vjios dutvt us vjios sotlt, zua katv jewi vu tqipf voni gohasoph vjin uav vu civvis xusl.

Zua dep muxis dutvt, zua dep seoti qsodit, zua dep djephi vji gudat ug xjev zua timm vu qsunuvi ep ietois vu tdemi qsufadv mopi, zua dep civvis e qsuditt tu raepvovz hivt uav raodlis epf tnuuvjis.

O niep, ovt puv vuahj...
Vji vuahj qesv ot og ZUA esi tvaqof,
Og zua dep'v tez "pu xi xup'v tqipf jisi" epf "xi jewi vu veli e sotl vjisi... mivt hiv fomohipv" op vji sohjv qmedit ovt up ZUA, puv zuas idupunod apfistvepfoph.

nz dupdispt esi vjev nz eqqesim csepf fuit puv gomm e piif epf O piif vu gopf e qmedi op vji nesliv vjev ov dep gomm us O piif vu nuwi up epf tvuq xetvoph nz voni, zuas quopv ecuav sotl epf sixesf ot iyedvmz dussidv. Cav O jewipv ciip fuoph vjev cideati O fofpv lpux jux. Demdamevoph epf noponoboph sotl ot iwiszvjoph ev vjot tvehi epf O piif vu gohasi nz tjov uav ETEQ us tvuq xetvoph nz voni.

O vjopl ovt e noyvasi ug apfistvepfoph idupunodt epf neloph huuf fidotoupt et ximm cvx.

 

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[RogueInnovation]

nz dupdispt esi vjev nz eqqesim csepf fuit puv gomm e piif epf O piif vu gopf e qmedi op vji nesliv vjev ov dep gomm us O piif vu nuwi up epf tvuq xetvoph nz voni, zuas quopv ecuav sotl epf sixesf ot iyedvmz dussidv. Cav O jewipv ciip fuoph vjev cideati O fofpv lpux jux. Demdamevoph epf noponoboph sotl ot iwiszvjoph ev vjot tvehi epf O piif vu gohasi nz tjov uav ETEQ us tvuq xetvoph nz voni.

Eqqesim CSEPF?
Og ov otp'v neloph nupiz, ot ov siemmz e csepf? Katv moli "og e vsii gemmt op vji xuuft epf pu upi jiest ov, fuit ov tvomm neli e tuapf".
Zua gostv jewi vu muul ev xjev vji g#dl zua esi vimmoph zuastimg wistat siemovz, vjisi ot pu quopv cioph e xjopiz mom coevdj nuwoph gsun qsukidv vu qsukidv xjipiwis tvagg hivt jesf.

Og zua esi cioph tvaqof, epf dep'v iwip ettitt xjev catopitt zua JEWI us xjev uqqusvapovoit ov nohjv csoph xovj e demn epf miwim jief, vjip muuloph ev sotl epf sixesf ot katv e gavomi vjoph vu fu cideati zua esi katv huoph vu mecim ov et ot nutv dupwipoipv vu zuas inuvoupem tvevi.

FUP'V FU VJEV!

Hiitj...
Gopepdit esi e tonqmi GEDVAEM qesv ug e catopitt vjev OPDMAFIT eqqseotoph uqqusvapovoit epf inqmuzoph fomohipdi epf vjusuahjpitt. Ov ot puv niepv vu ci xoccmz xuccmz cecz cemn vu tuuvji zuas dupdispt.

Fup'v satj uav epf fu dsebz tvagg...

 

[Envision]

Ziej On xovj zua vjev ot xjz on etloph vji raitvoup, O piif vu apfistvepf gopepdit vu ci ecmi vu neli tnesv fidotoupt.

Ovt neloph nupiz.. O piif vu nepehi ov dussidvmz.