Live data from Hacker News

Ask HN: How to learn business being a software engineer?

news.ycombinator.com

31–40 of 87 posts

Re: Ask HN: How to learn business being a software engineer?

#32
post #6

I think getting basics of accounts/finance will go a long way. Being able to read a balance sheet/profit & loss statement/cashflow statements will help you understand the health of business. Next I would say, reading up on basic marketing/consumer psychology will help develop/acquire product and sell it. Since you mentioned being CTO, I am assume you have development/programming background. This series [1] is good re…

I second this, immensely. I learned basic accounting at a community college-- Financial Accounting (3 hr course) & Managerial Accounting (3 hr course). I later took Intermediate Accounting 1 which was also super insightful. But those first two... Wow. They really opened up the "black box" of internal financial operations within a business, to me. Prior to those first two courses, I had no idea what happens when I pay…

Agree on taking financial accounting at a community college or a university. Accounting is a way of thinking and I can't imagine learning it on my own.

Finance on the other hand is a bunch of mathematical formulas that are usually dumbed down. With OP being technical they should be able to learn the finance stuff on their own.

I'd venture to say with a solid understand of financial accounting they can probably learn financial statement analysis on their own too. I really like this book: https://www.amazon.com/Financial-Statement-Analysis-Practiti...

Re: Ask HN: How to learn business being a software engineer?

#35
I took the long road after graduating with a mechanical engineering degree in 2012 and working in industry. I quickly realized that engineering often meant executing and not strategizing, which frustrated me to no end. I learned that being right was secondary to making people above you look intelligent. So much of what drives action at larger orgs revolves around a small group of people with their own special social dynamics, opinions, and egos.

As others have indicated an MBA would give you the language and credibility most orgs require to get into "business" positions. I do not feel the actual coursework is needed to understand the concepts and theories that have meaning for any given org. Businesses largely want growth, diversity, innovation, cost cutting, and future profitability. But I swear you could shortcut all that for just making the primary business stakeholders happy. Whatever they care about, what they perceive, what their goals are, that is what makes or breaks your position.

Being able to present ideas is key. I got a lot out of some of the MIT open course material [1]. I am certain some exploration on that channel for the business topics will yield more excellent content. Soft skills often separate talented and business minded engineers from the business side of the org. I cannot stress how little being "right" actually matters once you get into business. I have to constantly make forecasts as a product manager and often have frighteningly little to work with in terms of data. Capture assumptions, build out strategy, believe your story. You will be wrong sometimes. Being able to check your own ego, guide an org towards what you believe is right, and dealing with a bunch of different people who all think their view is the right view all play into it. I love the challenge and enjoy seeing my contribution play out. Would highly suggest it for those who enjoy those sorts of challenges.

[1] https://m.youtube.com/watch?v=Unzc731iCUY

Re: Ask HN: How to learn business being a software engineer?

#37
Great question. As a founder and CTO, I too have been through this. Couple recommendations:

Books: -The Personal MBA by Kaufman is a great start -Financial Statements: A Step-by-Step Guide to Understanding and Creating Financial Reports

Next advice is to learn investing. I’ve learned a ton by studying public companies, listening to earning calls, reading 10Ks, etc..

Audible books are great for consuming biz books on marketing, mgmt, teamwork, etc..

Founders podcast for just learning entrepreneurship and it being awesome.

Re: Ask HN: How to learn business being a software engineer?

#40
post #34

MIT free course on finance from first principles. Answers questions like the difference between price and value. Why do interest rates exist https://youtu.be/HdHlfiOAJyE

I tend to watch a lot of MIT open courseware, most of the times not really paying that much attention. But this professor (Andrew Lo) is the best one by far. Makes the syllabus really engaging and easy to understand
Post reply on HN