Want to be an Entrepreneur Why you Need to Prepare to Fail
06 May 21
“At the University of Bolton, we take great pride in providing a quality, supportive learning environment for our students.”
Professor George E Holmes DL | President & Vice Chancellor
“...tutors are very supportive and you’re not just a student ID number, at this university you are an individual with a name.”
Ellisse Vernon | BSc (Hons) Adult Nursing
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Categories: Business Management, Retail, Logistics and Supply Chain Management, Postgraduate
Every business needs the right people with the relevant skills to help that business deliver its products or services. Without management it’s easy for things to become disorganised and that’s why business managers are so important. Responsible people with good vision and an understanding of how to coordinate a team and work through challenges are essential, and can have an incredible career in business management.
But all the best organisational and people skills will only take a business so far if you don’t have proper control of the bottom line. It’s all about the money, folks. You could go so far as to say that without good financial management, the best ideas won’t necessarily fall flat on their face, they might never even get off the ground in the first place.
The thing that links every great business, and every great business person, is good financial management. Jeff Bezos of Amazon, Warren Buffet of Berkshire Hathaway, Bill Gates of Microsoft and many more all have this in common. Despite being literally the wealthiest people on the planet, to this day you will find they are still sensible with their money, and make good financial decisions.
That can sometimes mean making difficult decisions. Knowing when or when not to invest, when and how to grow a business in a targeted manner, and even when people need to be let go to ensure the overall health of the company, these are all questions of financial management.
There’s a funny story about Amazon founder Jeff Bezos that speaks to exactly why he became such a success. While he’s nearly a trillionaire today, in the early days of his business life he knew the value of pennies. When his employees needed work space, rather than go out and spend money on desks, he hacked off a wooden door, propped it up with beams and set them off.
Limiting costs and avoiding waste is one of the core requirements of good financial management, so there’s a lesson to learn from arguably the most successful man in history. And one of the incredible things about the world of business is that with good instincts and careful management, a bit like Jeff Bezos anyone can go from nothing to something.
The University of Bolton offers one of the best student experiences in the UK. Ranked 1st in the North West for Student Satisfaction in the Complete University Guide for the last three years, and Top 5 in the UK for Teaching Quality in The Times and Sunday Times Good University Guide 2020, we put our students first.
Could you be the next great business leader? By studying Business and Financial Management you’ll be giving yourself a great career head start.
Structured to include the latest industry insights and first-class practical work experience with placement opportunities, the University of Bolton business and management courses are led by highly qualified staff who will support you through all your studies.
Learn more about BSc Business Management (Finance) at the University of Bolton and find out how you can apply now.
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