Why Entrepreneurship is Vital in Building Financial Literacy Skills

                                                    

As an entrepreneur, what would you rate ( on a scale of 1-10) your financial literacy skills?Here is my thought : Entrepreneurship is vital in building financial literacy skills but not all

entrepreneurs are financially literate.

Hmmmmm….

Hence my passion and vision to help as many people as possible, specifically entrepreneurs and

professionals in helping them gain the skills needed in the area of financial literacy so they can

maximize their truest potential.

With the massive changes happening in the economy, it has become more and more vital to

entrepreneurs to gain the skill sets to becoming financial literate.

But today, I want to approach this equation from a different angle…

Entrepreneurship is vital to aspects of financial literacy… Why?

Simple…. The aspects of owning a thriving business brings about responsibility in business owners

to raise their awareness and their overall money blueprint to handle money and be able to enhance

their ability to expand their businesses.

Being a successful entrepreneur, one must not only have a healthy working income, but learn

aspects such as cash flow management, tax strategies, continuity and succession planning

strategies designed to get business owners through the various life cycles in an efficient manner.

In SMBCEO.com, I read an article from 2010 that had this one paragraph that stood out to me….

Not everyone who started or who is just planning to start their business has taken up finance courses. Sure, there may be some subjects which taught us the basics of accounting and personal finance but would that be enough to successfully run a business?

Financial literacy is a skill which can be acquired. You do not have to be a certified accountant but you need to be able to understand how well your finances stand despite a volatile economy.

How true that is!!!You not only have to acquire the skill of financial literacy, but it has to be cultivated into a working formula for success. The muscle, if you will, needs to be nurtured. It has to be cultivated in a way that produces long term sustainable results.

There are numerous obstacles which can impede financial literacy. Some of the most common are:

You hate numbers… I know, I get it :)

You know you could hire someone else, but fear relinquishing responsibility. You simply do not have time.

Here is the one aspect that I will share about this, especially that last bullet point.

Simply not having time is BS. You make the time for what you see valuable.

Make the time to be in the know and have savvy. Many business owners run around like a chicken

with their head cut off simply because they are clueless to how money works and how it works for

them in particular.

While there is much information on the internet, it can be a dangerous proposition to not deal with

financial literacy head on as an entrepreneur, but more to the aspect of not being able to maximize

your income as an entrepreneur.

In making money, it comes with a deep rooted responsibility. If you want to play in the big leagues,

then you have to master the game of financial literacy.

I love entrepreneurship because one can come in and make a bunch of money and be thrust into the

responsibility of increasing their financial thermostat.

This is why entrepreneurship is vital in building financial literacy skills.

And this is why I want you to take your financial literacy skill sets seriously and grow them daily so

you can truly be an example for others to follow.

My fellow entrepreneur, if you found value in this post, leave your comments below. I will certainly

reply back to you.

I have created the Cash SLOW 2 Cash FLOW movement where we are helping to eliminate financial

illiteracy where it exists today.

As tall of a task that is, it is important to me as I know what it means to be financially literate. When

you know, you can do better.

And when you do better, you are unstoppable.

Part of this movement is our entrepreneurship pillar. I have aligned myself with Empower Network

and their digital marketing and education platform to teach aspiring and even existing entrepreneurs

how to monetize their passion and turn it into profits.

If you want to know how my significant other Amanda and I are doing just that, click on the banner below to discover the Empower Network and the many benefits of being an affiliate.

To Your Success,

Roger A. Silvera

“The Big Idea Catalyst”

P.S. Did you miss my last post on financial literacy? Click here if you did and catch up with me :)