In this Finance for Non-Financiers video, GR gives an excellent analogy of How a mother is the best finance manager that one can ever learn from. He provides insights on how finance is critical for everyone irrespective of their qualification or profession. Finance is the lifeblood of business and at ConTeTra, we strive to upskill all the people who aspire to generate wealth and make a positive difference to themselves and their loved ones. Kindly get in touch with us to explore the possible mediums of upgrading yourself financially, through our books, our games, our video series, and our workshops.
Ladies and gentlemen boys and girls welcome back to finance tube as we continue our discussion with mr. g ramachandran i am going to pick his brain on why finance is so important for everyone today so gr as as people call you in the industry before i ask you this question one thing i want to tell you is that in the last video one key takeaway which i had friends
Was you mentioned about successful failure you know that has brought a lot of positive energy and full vibrancy to my channel so i would like to congratulate you for that like it and now going on to today’s question so why you feel finance is so important for everyone and in particular for startups let me tell your friends finance is critical in our day to day
Life we are not conscious of it but we are aware of it that whenever we are doing any activity finance crops up directly or indirectly now if we are doing our professional work or we are doing our personal work anywhere in every way you’ll find that finance finds its way into it whether we like it or not we need to understand that the biggest financial wizards
In the country all very much resident in our house take a guess who could it be it’s our own mother imagine when the month is starting our mothers have a certain amount of money given to them and they have to take care of the monthly expenses without asking for more finance sometimes there are festival months sometimes there are education months where the visas
We paid festival months in which you have to incur extra expenditure for sweets for new clothes for visitors coming our mothers have never asked for extra money where did they get this money it was out of hidden reserves how do they create the hidden reserve it’s through prudential use of the scarce resources on a month on month basis without fail consistently
And being very very prudent with whatever the money was given more importantly if we look at finance finance is not only for the financial experts on the country i would say that finance has to be there for the non finance guys all the move because when you are doing new initiatives maybe technology maybe marketing maybe production you need to understand that
There is a certain amount of budget there is a certain amount of expenditure that can be incurred because these are all cost centers when we have cost centers just like our mothers you should take care of the cost of the monthly household expenses month on month year after year we need to understand these costs have to be controlled if you have to control the
Cost we need to understand the finance if you have to understand the finance we need to understand each subject in which the money goes into and if it is going into a particular head we have to ensure that it is not exceeding the budget that has been set for that we can’t say that we exceeded in one area and we reduce in the other area because that doesn’t make
It justified or balanced because the area where you spend more may not have necessarily given you the results whereas you should have spent it in some other area where you under cut it because you felt you don’t know the finance so friends one thing for sure finance is going to be actually controlling your life whether you like it or not and you need to be more
Of an axe person first and then be the person who is having the expertise in the other areas then you will be asure successful when are both in your personal and in your professional life that is an amazing insight that i’ve caught i mean the analogy of mother is the most app analogic that could be given for cash flow management thank you so much gr today i mean
We are all very very enlightened and i’m taking this opportunity to thank gr on everybody’s behalf on your behalf or nine behalf that please continue spreading this knowledge of finance and please continue helping us mentoring us all of us now all my friends have joined in in the last video we got so many comments saying that you know we want more from you so
We continue this journey friends i promise you i’m going to have a few more episodes from him i’m not going to just leave him like that so stay tuned and if you haven’t subscribed to our channel subscribe to our channel today our channel financed you
Transcribed from video
Why Finance is Important? Finance for Non-Financiers By Finance Tube