Ask Christa! How Much Finance Should I Learn? (S3E33)

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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Disclaimer
The Ask Christa! show is designed to provide accurate and practical insights into common business challenges and workplace issues. Dr. Christa Dhimo stands by the information she shares and the resources she provides; however, every situation is unique. Listeners are encouraged to use this podcast as a helpful resource while also seeking additional, qualified, professional advice, including but not limited to legal, financial, medical, or other professional advice, as warranted. Ask Christa! and its host disclaim liability for actions taken solely on the basis of the information provided here, especially if taken out of context.