Adding Another String To The Bow

Well 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 but with important accounting exams looming unfortunately the blog has had to take a backseat this weekend, I hope you can forgive me!

Now I know accounting isn’t something that a lot of people would choose to learn for fun and 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 where 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.

Well that’s enough rambling from me, here are some of my favourite posts of the week for you to enjoy!

Frugal Rules ~ Taking the Plunge: How to Build a Client Base for Your Small Business

Debt Round Up ~ Why Do Sales Make Us Irrational Shoppers?

Canadian Budget Binder ~ Net Worth Update CBB February 2013-Move or Stay?

Reach Financial Independence ~ Buy my method, not my lifestyle

One Smart Dollar ~ Always Expect The Unexpected

Gajizmo ~ Discusses the Highest Paying Jobs

Have a great week everyone!

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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.
    Pauline recently posted..Carnival of Financial Independence, first editionMy Profile

    • 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
    Canadianbudgetbinder recently posted..Mr.CBB’s Chocolate Chewy Big BitesMy Profile

  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.
    Debt Roundup recently posted..Weekly Personal Finance Blog RoundUp – 3/9/2013My Profile

    • 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.
    Glen @ Monster Piggy Bank recently posted..Spring Break and my Misspent YouthMy Profile

  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.
    Sean @ One Smart Dollar recently posted..When to DIY and When to Hire OutMy Profile

  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!
    Jose recently posted..SRI – Socially Responsible InvestingMy Profile

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