S3E10 - Making friends with finance

Welcome to another episode marketing mates! This week we’re talking money and how to talk the “finance talk” to your CFO, accountant, or sales team.

Often things can get a bit lost in translation between marketing acronyms and financial terms, but it’s important to clearly demonstrate the value you’re bringing through your marketing activity, with the budget you’ve been allocated.

Hot tip: you always want an ally in the room when you’re about to talk money and there’s nobody better than your finance person.

Here’s a little cheat sheet of 10 finance terms you should start getting familiar with as a marketer:

ROI - return on investment Assets - things that you own Liabilities - financial expenses owed Balance Sheet - a snapshot of the business with all assets and liabilities Cash Flow - measures the cash flowing in and out of the business Margin - the difference between a selling price and the profit made Profit & Loss Statement  (P&L)- also known as an Income Statement Gross Income - the total money earned before taking out expenses Gross Profit - the difference between the sale and the direct cost of making the sale Working Capital - the cash you have in the bank that you can invest.

 

Now don’t be scared, go make friends with your finance person!

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