Ask Leo: How financial management is a major factor for crypto sustainability.

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Most at times the challenge is not that the resources aren't but how to harness them for long term target matters a lot.
In this brief article, I will shade light on these resources can be effectively used and managed.

Most companies have been shut down due to lack of financial management and accountability.
Before I proceed, let's look at what's financial management?
This entails accessing the financial inflow and outflow in order to sustain the business.
Financial management applies to analysing money and all the transaction done or carried which enables accurate decision making for profit and business sustainability.

Profit don't just emanate rather it requires deliberate efforts.
Let's consider briefly some areas that would help in making decision;

  • Start-up seed.
    Business has to start from somewhere and out of nothing. Any amount being used to start up a business is called capital or seed capital. It's believe that the seed should grow and the business should also expand with time. You must decide how much to start with or how much you want to invest.
    Choose which of the coins is more stable and can be used for long term.

  • For good financial management, one must also settle the issue of investment decisions. Don't enter an unknown market or any coin. Don't be too greedy understand both the bullish and bearish trend.

  • Another critical decision is dividend. When you start making profit and business is growing, how do you share if you have other people that invested into your business?
    Where and how do you take your profit? When these questions aren't answered definitely it will affect other areas of business.

Haven given some basic antidote of financial management decision, when these are put in place drawing any inference wouldn't be a difficult task.
As the crypto world gets bigger, keep developing good financial management skills to avoid fraudulent activities.

thanks for visiting.

Posted Using LeoFinance Beta

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Crypto currency on it's own is volatile, knowing how best to manage these and make it long term is another level of wisdom.

Don't be too greedy understand both the bullish and bearish trend.

Thank you for sharing these insights🥂

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Management us highly needed in every sphere of human endeavor.

Thanks for sharing

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