Financial iQ

THE 20 MAIN DIFFERENCES BETWEEN WINNERS AND LOSERS. Which side are you on?
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📍1. Winners focus on the solution.
Losers focus on the problem.

📍2. Winners take responsibility.
Losers blame others.

📍3. Winners find opportunity crisis.
The losers complain about the crisis.

📍4. Winners enjoy the present and learn from the past.
Losers live in the past.

📍5. Winners make a decision and stick to it no matter what.
Losers promise but never deliver.

📍6. Winners think about how they can achieve this.
Losers ask for forgiveness.

📍7. Winners Emphasize personal development.
Losers neglect personal development.

📍8. Winners face their fear and embrace it, jump over it and move on.
Losers live in their own fears.

📍9. Winners are constantly expanding their comfort zone.
Losers stay in their comfort zone.

📍10. Winners are constantly on the move.
Losers refrain from action, they lack consistency.

📍11. Winners learn from their failures.
Losers fear failure and shun it no matter what.

📍12. Winners try different strategies when they don't get the results they wanted.
Losers do the same thing over and over again expecting different results.

📍13. Winners set goals.
Losers lack purpose.

📍14. The winners are planning.
Losers don't like to have plans.

📍15. Winners believe there are always things to learn.
Losers consider themselves experts, yet they know little.

📍16. Winners are humble.
Losers are selfish.

📍17. Winners continue to hone their skills every day without concessions.
Losers create little effort by honing their abilities.

📍18. Winners work hard.
Losers avoid work.

📍19. Winners give their all to the goals they decide to achieve.
The losers do everything halfway.

📍20. Winners make good use of their time and indulge in activities that will lead them to achieve their goals.
Losers lack time management, indulge in activities like playing games, watching endless replays.

10 Lessons from
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" Financial Intelligence " 📚📚📚
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A Manager's Guide to Knowing What the Numbers Really Mean
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1. Accounting principles provide a framework, but companies have some wiggle room when presenting financial data. Learn to read between the lines and understand the assumptions behind the numbers.

2. Don't get fooled by high profits on paper. Cash flow, the actual movement of money in and out, is essential for business health.

3. Ratios tell the story behind the raw numbers. Learn key ratios like profitability, liquidity, and solvency to assess a company's financial health and performance.

4. Understand the difference between "cash expenses" that immediately impact your budget and "non-cash expenses" like depreciation, which spread the cost of an asset over time.

5. Revenue is the money coming in, but profit is what's left after you account for all your expenses. Understand the difference and how various factors influence both.

6. Don't blindly accept financial reports at face value. Ask questions, understand the underlying assumptions, and identify potential areas for improvement.

7. Look at financial data from the perspective of someone who might invest in the company. This helps you understand what information is most important for decision-making.

8. The balance sheet shows what a company owns (assets), owes (liabilities), and the difference (owner's equity). Understanding how to manage these components is crucial for financial stability.

9. Calculating ROI can be more complex than it seems. Consider all factors affecting an investment, not just the initial cost and projected returns.

10. Working capital refers to the difference between a company's current assets (easily convertible to cash) and current liabilities (debts that need to be paid soon). Efficient management of working capital frees up cash flow and improves business operations.