Entrepreneurship and Maths
One thing that freaks me out is mathematics, not even the best at 2*2. So the real question lies, does my low understanding with numbers makes me a bad entrepreneur. More so, do I have to be able to interpret numbers like counting cards to be able to unleash the answers to have a successful social venture?
The answer would be no, entrepreneurship is more than just math, it is interpreting the data, and understanding the larger picture.
There are a lot of softwares in the market currently that do much of the actual math for you. For example, Business PlanMaker Professional 4.0 is a software that helps forecast project sales, expenses, and cash flows quickly and accurately. It is also very convenient to obtain profit/loss statements; balance sheets; cash plans; sales forecasts; expense budgets; ratio analysis; break-even analysis; sales by category; and expenses by category by simply feeding the software the required numbers.
As convenient as this sounds, where entrepreneurs take over software in the interpretation of these results. Having mathematical knowledge to authenticate these results also certainly proves more than beneficial.
So all in all, as long as you know what is going on, you're good.
One thing that freaks me out is mathematics, not even the best at 2*2. So the real question lies, does my low understanding with numbers makes me a bad entrepreneur. More so, do I have to be able to interpret numbers like counting cards to be able to unleash the answers to have a successful social venture?
The answer would be no, entrepreneurship is more than just math, it is interpreting the data, and understanding the larger picture.
There are a lot of softwares in the market currently that do much of the actual math for you. For example, Business PlanMaker Professional 4.0 is a software that helps forecast project sales, expenses, and cash flows quickly and accurately. It is also very convenient to obtain profit/loss statements; balance sheets; cash plans; sales forecasts; expense budgets; ratio analysis; break-even analysis; sales by category; and expenses by category by simply feeding the software the required numbers.
As convenient as this sounds, where entrepreneurs take over software in the interpretation of these results. Having mathematical knowledge to authenticate these results also certainly proves more than beneficial.
So all in all, as long as you know what is going on, you're good.
As George Pólya, one of the most influential mathematicians of the twentieth century, said that “mathematics is not a spectator sport”.
References:
[1]http://www.gaebler.com/Entrepreneurship-and-Math.htm
[2] https://www.linkedin.com/pulse/20140708183646-131466034-how-can-mathematics-give-an-unfair-advantage-to-entrepreneurs
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