Talk About Money With Colleagues

By Mike Maddaloni on Tuesday, March 03, 2009 at 04:00 AM with 0 comments

In the course of networking with colleagues or entrepreneurs in general, business operations is a topic discussed often. From hiring or computers to everything in between, it is good to discuss such business commonalities, as we can learn from each other and gain perspectives on how to manage various elements of our business.

It wasn’t until recently I realized I rarely if ever talk about money in networking. This thought came to mind as I got into conversations with 2 separate colleagues, and the topic of money came up. Each conversation was different, but it lent some insight into their business’ finances and how they seek revenues and profits. However it wasn’t until afterwards, when I was digesting what was discussed, that I realized money was discussed.

Now don’t think I am suggesting you should start a conversation with a complete stranger by saying, “hello, tell me about your business and how much you make?” Rather, when in a situation when you may want a different or unique perspective on money and finances, seek out trusted colleagues for a conversation. This colleague may be a fellow entrepreneur who is familiar with your business or not. You don’t have to open up your QuickBooks file to someone in the process, but you can get into some details without putting a dollar figure with it.

Of course you should always review any advice or decisions with your accountant or CPA. You do have one, right?

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