Finance is an important part of any business, and even if finance does not seem like it’s part of your daily activities—it’s still part of your life, one way or another.
Balance sheet, debits and credits, operating cycles, cash flow, budget, margin, profitability - the finance people in mindit.io play a critical role in keeping the company afloat, in both the short and the long-term, having help from every one of us.
Accounting includes recording the routine economic activities of a business. Still, it goes further to analyze and interpret financial information, prepare financial statements, design accounting systems, prepare special business and financial studies, prepare forecasts and budgets, and provide tax services.
According to the Project Management Body of Knowledge sixth edition, there is a tradeoff between people and equipment, the time to be used, and the work output they can produce. This could be a literal calculation such as the “number of resources x time worked = work output meaning revenue”, but that’s not how we do things at mindit.io.
Since each person and equipment has an associated cost, the simplest cost equation for a particular activity will be “cost of resources (direct and indirect) x work = total cost”. Profit will come as a financial gain, the difference between the amount earned and the amount spent in producing it.
As leaders, the best thing we can do to help ensure financial success is to make sure the right people are in the proper setup to work, learn and develop, making long-term strategic decisions.
Accounting uses financial information from the past to make decisions in the present to change the future. Accounting, decision-making, and business performance are all linked to a healthy environment where people can learn and grow.
I cherish and keep close to me all these experiences when we received support and when I was comfortable doing things as a “first” before I was fully ready and willing to do what was necessary to make sure that when we showed up, we could show up and deliver.
The more I reflect on that, the more excited I get about the next “first,” the next “failure,” and the next “risk.”
Daily dreaming can be a great differentiator and competitive advantage, not just when you’re asleep. By dreaming, I mean envisioning your future, meditating on the path to get there, and consistently staying on the course you’re called to be on. This takes tremendous courage as challenges constantly appear in everything you wonder about, write, decide or act.
You just have to remain true to yourself and your dream.
When we dream, and it becomes a natural part of our daily routine, we often experience greater clarity and direction.
We may even feel there are funny coincidences as things happen. We meet new people who offer something we need. Always focusing on our dream is one of the most powerful things one can do. Dreams are placed in our hearts for a reason, and when you truly and purely pursue them, they become reality.