Numbers and Management: Without numbers, a business can’t grow beyond a certain point. Here’s a simple example: imagine you go to the bank to get a loan because you don’t have enough cash for your operations. To qualify for a business loan , you need financial statements like balance sheets . Banks don’t lend based on looks or abilities but decide if your current financial situation is promising for the future. It’s hard to get a loan if you don’t tell a story with numbers. If you rely solely on bank deposits , you’ll spend what you have or borrow if you run out. That keeps your business running as it is, but without verifying your creditworthiness with numbers, don’t even consider borrowing from the bank. Good debt can create leverage, but bad debt can wipe out even your past gains. - Joseph’s “just my thoughts”
The Japan Airlines that no one thought would ever recover. It was the biggest corporate bankruptcy in Japan. When Kyocera Group Chairman Emeritus Kazuo Inamori took the helm to save Japan Airlines, his priority was to reform the mindset of the employees. Whenever he could, he gathered all employees for lectures on mental reform, and executives were required to attend a separate lecture on mental reform given by Kazuo Inamori every Thursday without exception. The employees' frustration was palpable, but the company returned to the stock market after two years and eight months. There is no magic in running a company. Attitude and mindset are everything. - Joseph's "just my thoughts"