[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/sci/ - Science & Math

View post   
File: 38 KB, 450x300, finance.jpg [View same] [iqdb] [saucenao] [google]
4094012 No.4094012 [Reply] [Original]

Hey /sci/, I don't know if this is the right place to discuss this. I recently acquired a small security/informatic business from my parents, I am young and inexperienced and don't have the qualifications to run this business without relying on other people. I'm slowly learning the basics and becoming really interested in the business world, the problem is that I don't think I can make it successful without furthering my knowledge of business/economics/finance. Should I study business/economics/finance further in school? Is it worthy to dedicate my time to school instead of getting experience? Could you recommend some books or tell me which subject should I concentrate more? Any help would be appreciated.

>> No.4094091

bump

>> No.4094111

>>4094012
Sell the company before you run it into the ground.

>> No.4094117

No, it's not.

Pick up a finance textbook and read about the basics. (I studied economics at university, had a book called Financial markets and corporate strategy by grinblatt and Titman, it was pretty good)

Read the financial times / the economist / etc. erry day all day.

Look up terms you don't understand. Try to think about things.


Experience and personal relations will account for the majority of the success of your business, not your financial acumen. You can hire people with finance degrees if you need them.


Relying on other people is frankly what you should do. If you can get someone you can trust and who has knowledge of the industry, let them know you don't know shit, and say "explain to me why this" "why that" "what would you do, and why".

Have a few of these people, and you can make a good decision without knowing the intricacies yourself. After looking at 1000s of deals, you'll have the experience to make decisions as good as any graduate with no experience. You can always take classes or go to conferences etc. to supplement your knowledge, you don't always have the opportunity to get experience and forge relations.


With regard to relying on other people, think about it like this:

If you can find a guy who runs the company like a pro, and find employees that are good at what they do. You can sit back, and not have to worry about it, make lots of money. If you don't want to sit back, you can get engaged with good people, remember to learn from them, and get good yourself.

>> No.4094145

>>4094117
Thank you, I'l keep that in mind