Wed, 8 April 2015
"How is business going? It’s good.." If you are an entrepreneur, everyone asks you this question. How do you know it’s good? Financial health; key financial metrics. It turns out that even top level execs lack a complete understanding of basic financial principles. Joe Knight, co-founder of the Business Literary Institute, teaches C-level execs at Fortune 500 companies basic financial literacy. He honed his skills at Setpoint Systems, where they have clients like Tesla Motors. I know him through his book: Financial Intelligence for Entrepreneurs. In the episode, we talk about:
Mentioned in this episode: Vocab (definitions by Investopedia) - Gross Profit Margin (Note: Joe breaks this stat down to a per hour basis) Links - Financial Intelligence for Entrepreneurs. Return on Investment Toolkit - Harvard Business Review Are Your People Financially Literate? Joe Knight Bio: Joe trains managers and leaders at Fortune 500 companies such as Electronic Arts, NBC News, General Electric, Granite Construction and UTC Aerospace Systems. Joe’s unique ability to combine content with energy and humor make his keynote addresses resounding successes with diverse audiences including the Construction Industry Institute; Independent College Bookstore Association; The Association of General Contractors; International Institute for Supply Management; and Society for Human Resource Management. Joe is co-author of Financial Intelligence, a smart, no-nonsense business finance handbook for managers. The book has been heralded as “the Elements of Style” of finance by CFO.com. Financial Intelligence was featured in The 100 Best Business Books of All Time and has been turned into a graphic novel by Smarter Comics. Joe also co- authored Project Management for Profit which outlines the easy-to-implement system he helped create at Setpoint to manage projects towards profitability no matter what stage the project is in. Joe is co-owner and CFO of Setpoint Systems, Inc, a manufacturing company based in Ogden, UT.
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