Book Tracker 04
Financial Intelligence
By Karen Berman and Joe Knight
One of the reasons I dedicated myself to reading 20 or so books in 2021 was to challenge myself but more importantly to educate myself in areas where I might be lacking in knowledge. Those who know me think I have my shit together when it comes to knowing business, finance, investing etc. While I do consider myself somewhat financially literate, I do not have the knowledge I would like. As I grow in my career as a professional athlete I recognize the importance that knowing my finances, and how to run the business side of my life is critical. So I’ve challenged myself to make sure that a handful of books I read this year are focused on financial intelligence, business operations, investing, etc.
I came across this book on a list of recommended reading for entrepreneurs. I can’t remember what website it was on, but I think it was shared by Phil M Jones, who I follow and really enjoy learning from through his writings and YouTube videos…But I digress.
This book was touted as a must read for anyone wanting to gain better understanding of finance without needing to learn complicated accounting strategies/techniques.
I’ve always struggled with the abstract way accountants think and put stuff down on paper so I figured it couldn’t hurt to give this a read and try to better understand business finance.
My initial impressions of this book are that I’m definitely going to need to read it multiple times to really get the most out of it. Early on the concepts were very straight forward to understand. I really like how the authors provide definitions of terminology used in the business and accounting worlds throughout the book. I’ll admit I’m still a little flummoxed by balance sheets, accounts receivable, accounts payable, etc. Having studied a little bit about cashflow over the years I’m a little more familiar with that kind of statement. Ultimately though I don’t need to know everything like the back of my hand right this moment. This journey into understanding business is an ongoing process and at the end of the day I want to keep it stupid simple.
I recently picked up a part time job working for the United States Association of Blind Athletes as a Program and SafeSport Coordinator and I feel this Financial Intelligence book has given me a slightly better grasp on budgets, and given me ideas on how to help generate revenue for both USABA, myself and how I can best help Bubba Burger (my primary sponsor and employer). Granted this is not a sales book, but understanding how money works and how things are referred to in the business world gives me a better understanding of my role in the machine.
The authors also touted this book as being “fun” to read. I don’t know if I’d call it “fun.” Yes, compared to a very dry accounting or business textbook this was a good read. Fun though?…Nope. It did take me much longer to read through this book partly because I was trying to digest the information a bit more slowly and for another reason…I kept falling asleep during the really boring parts LOL. Hey, the narrator has a very soothing voice that could knock me out, bravo sir!
At the end of the day, I will definitely be re-reading sections of this book so I can better understand all parts of basic business and finance. And I’d definitely recommend it to anyone who is just starting out on their business journey as I am, or anyone who is looking to gain more knowledge about business/finance in general.
Book Tracker: 4/20