Adding Another String To The Bow

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I think I should apologise for the late blog round up post this week. I’ve been doing my utmost to juggle several different balls recently and, unfortunately, I had to drop one for a few days. The reason is that I’m currently in the process of adding another string to my bow!

I know many people will consider it to be a quite sad personality trait, but I’ve always been one of those people who just loves to learn. When I was at school if a teacher mentioned the word ‘quiz’ my eyes would light up. Mention the words ‘mental arithmetic’ and I’d have to force myself not to let out a cheer. The problem with this thirst for knowledge is that it often leads me to bite off a little more than I can chew.

This is what happened recently when I decided to take on an accounting qualification whilst running my own business, looking after a family with 2 toddlers and also writing for this blog.

Normally I’m pretty good at making the time to do everything. With important accounting exams looming, though, unfortunately the blog has had to take a backseat this weekend. I hope you can forgive me!

I know accounting isn’t something that a lot of people would choose to learn for fun. In all honestly, accounting isn’t fun at all. It is, however, very useful.

In the UK, we have a television program called Dragon’s Den. In the program some of the most successful business people in the country listen to pitches from budding entrepreneurs who are hoping to gain investment for their business and also a successful business mentor. One thing that often astounds me when these entrepreneurs pitch their business idea to the Dragons is how often they come unstuck on the numbers. Sometimes, they’re just under prepared, but often they simply don’t understand the financial position of their business at all. Some of them are clever enough to at least bring their accountant along for the ride. But the fact that they didn’t understand the finances of their business in the first place is often enough to destroy any hopes of getting a Dragon investor on board.

Now, I’ve no plans to make an appearance on Dragons Den anytime soon but I do feel that getting a better grip of the numbers is a wise thing to do if you’re self-employed. On top of all this, it certainly doesn’t hurt to have another skill and qualification to fall back on should things ever go wrong in the future.

12 Responses to Adding Another String To The Bow

  1. Pauline says:

    The constant will to learn is a great quality! Accounting is the one thing I dreaded in college, I don’t have the discipline, the attention to detail, and my mind simply finds it tedious but that should be very positive for your business. Good luck with the exams and thanks for the mention.

    • Thanks Pauline and no problem. Financial accounting is very tedious, you just seem to spend your day logging invoices. Management accounting is very interesting though, working out stock inventories and costings etc. Hope you had a good weekend.

  2. I was wondering where you were. Knowing the maths behind the business is crucial and I don’t blame you for learning the accounting part. I don’t mind maths and accounting either, it doesn’t bother me. I like the challenge of it all, figuring it out. We have Dragon’s Den in Canada as well and I see the exact same thing that you mention. Great show though, interesting to see what people come up with. Thanks and good luck with it all!!! Cheers mate

  3. Debt Roundup says:

    There is nothing wrong with striving to learn more to better yourself. That is something that many are not willing to do. You can only handle so much, so we will let this one slide ;). Thank you for the mention and I hope you had a good weekend.

    • Thanks for letting me off Grayson. I think it’s a good attribute to have but I’ve also had some very funny looks in the past when I’ve mentioned my love of learning. Hope you had a good one too.

  4. You have made me feel bad that I am neglecting one of my learning goals that I set at the start of the year.

  5. Thanks a lot for the mention. I am right there with you and I love to learn. Networking with all of you guys allows me to do just that on a certain level.

  6. Jose says:

    What’s wrong with accounting? I love spreadsheets and anything financial! Seriously though, I think it’s great you are learning something new. I consider this blogging adventure I started a HUGE learning experience. OJT so to speak. But I am definitely learning a lot!

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