- Joined
- Mar 14, 2016
- Messages
- 431
Rep Bank
$1,480
$1,480
User Power: 168%
Understanding money is crucial to manage and accumulate money.
Do you understand the difference between credit and cash? Or the difference between profit, revenue and cash?
Will you understand if your accountant says that your business is profitable but the cash is low?
Or will you wait until things get so bad that you start scrambling for money?
How often have you seen businesses that grow aggressively start laying off employees because of cash flow problems? Or unable to get investors in new rounds because business is burning cash without understanding money?
I think every entrepreneur should watch this video and pick a few books on the topic later. If you need book recommendations just reply to the thread.
And btw, Ray Dalio who made this video is worth $15 billion, so pay attention
Regards
Adam
Do you understand the difference between credit and cash? Or the difference between profit, revenue and cash?
Will you understand if your accountant says that your business is profitable but the cash is low?
Or will you wait until things get so bad that you start scrambling for money?
How often have you seen businesses that grow aggressively start laying off employees because of cash flow problems? Or unable to get investors in new rounds because business is burning cash without understanding money?
I think every entrepreneur should watch this video and pick a few books on the topic later. If you need book recommendations just reply to the thread.
And btw, Ray Dalio who made this video is worth $15 billion, so pay attention
Regards
Adam
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Access Restricted: Unlock 1,000,000+ Posts
Stop Peeking Through the Keyhole.
Open the Door.
You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.
- Active Daily: Life-changing content posted dozens of times every day. No dead threads.
- MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
- Vetted Network: Connect with founders scaling to 7 and 8 figures.
- Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."— User Richard Peck
"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?
