Summary

In this episode of Ask Christa, host Christa Dhimo addresses a listener's question about how much finance knowledge and learning a founder needs as they get a business started. She emphasizes that while finance is crucial, it is not the sole focus of a business. Christa discusses the various functions within a business, particularly the role of General and Administration (G&A), and how they support overall operations (and how Finance is a part of G&A). She encourages a holistic approach to understanding business functions and stresses the importance of learning the basics of finance without overemphasizing it. The episode concludes with resources for further learning and a reminder that business is a collaborative effort.

Key Takeaways

· Learn as much as you need to add value in your role.

· Finance is important but not the only function in business.

· Market analytics are critical for understanding business success also.

· Finance is a lagging indicator of performance.

· Leading indicators are key to understanding business health.

· Business is a team sport with various roles to play.

· Shift your mindset to see business as a system of functions.

· Learn the basics of finance for personal and business success.

· Be good to your financial planning team; they are there to help.

· Take a holistic approach to business functions.

Additional Resources

Calculate your startup costs. (n.d.). U.S. Small Business Administration. https://www.sba.gov/business-guide/plan-your-business/calculate-your-startup-costs

Indeed Editorial Team. (2025, June 6). 13 Basics of Small Business Finance to Know (Plus their Benefits). Indeed Career Guide. https://www.indeed.com/career-advice/career-development/business-finance-basics

selfLearn-en. (2023, May 22). business finance 101, learn business finance basics, fundamentals, and best practices [Video]. YouTube. https://www.youtube.com/watch?v=lAyxE7ylot0

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