Ownership Thinking: How to End Entitlement and Create a Culture of Accountability, Purpose, and Profit

Advanced Financial Acumen

When teaching finance to employees, don’t assume that your management team members are particularly savvy in this area. I have worked with hundreds of management teams, and it’s clear to me that many people in management roles are not particularly well educated in the area of finance. This is not a criticism. If someone focuses on marketing in his or her education and career and becomes a VP of marketing, this does not make that person a wizard in finance. The same applies to HR, sales, operations, or any other nonfinancial function. In fact, I’ve come across more than a few small business owners who were not that financially literate but who might have been experts in the technical aspects of their industries and created ...