Why Internet Marketing, Business and Finance? – Part 3
Finally we have reached the last installment of the ‘Why Internet Marketing, Business and Finance?’ series. I didn’t really have the intention to drag this on to a 3 parters ala Rambo, but sometimes I can really just go on and on!
Damn….I really got to break this naggy habit of mine. =P
Before I waste more time, let’s move to the ‘Financial’ part, shall we?
Now, when we do business, we all only care about one primary concern - profit.
Profit determines if the business is going to be sustainable in the long term.
Profit tells us if the business is worth the while.
Profit in business is everything. No one wants to go in only to find himself facing a loss before long!
Therefore, essentially, having a profit means getting more money coming in than going out. Clearly, having a good understanding of money matters is going to help tremendously.
And when it comes to money matters, a good grasp of finance is absolutely critical.
Simple things like budgeting, planning for expenses, keeping a emergency back up kitty fund and opportunity fund for investing and expanding are very important for any businesses.
I read cases of businessmen who have fantastic business models which work well on paper. However sometimes it doesn’t have a good ending simply because the management behind the business are financially inept! They don’t know what to do with the money and how to manage it.
Knowing how to plan financially is as important as doing the business itself. It can mean a difference between boom or bust!
Finance goes beyond just businesses. It can also be applied on a personal level.
I used to write financial articles for a finance portal (still am working together with them), and I do get into contact and interact with some users and visitors to the portal from time to time. While corresponding with them, I’m sometimes amazed at their level of financial savviness, or rather the lack if it!
Things like credit management, loans, insurance and investment are still clearly out of the league for some people. I come across loads of cases whereby people bought a financial product, get seduced by the sales talk, but later turning around to lament a bad buy and regretting it.
Why?
Many just think with their heart. They don’t bother analyzing and understanding the implications. Worse still, a LOT do not bother to read the fine prints, which contain most of the ugly truth the financial institutions hope the consumers won’t see!
And I can’t really blame them. There is still a lack of fundamental financial education down here (schools are not starting the them young about such matters!).
Also, the investment aspect of finance is especially important. Due to inflation, our savings is dwindling all the time. In order to ensure our money grows over time, learning how to invest is vitally important. Boring and sleep-inducing as it may be, it is definitely worth the time to look at and understand the various investment vehicles out there such as stock, mutual funds, fixed deposit, structured deposit or gold (there are still many others).
Putting it all together
So there you have it. If you are still here with me now, over the course of the 3 parters, you can see how Internet Marketing is linked with Business which are both in turn related to Finance. They go together.
Anyone should at least invest more time to understand the financial aspect. No need to know the other two if there is no time but Finance is an area one must learn, for not just for his own but also for his family’s sake!
Of course, for the entrepreneurial ones, Internet Marketing is definitely worth a look!
Feeling real tired after all the typing, so I’m signing off for now!
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