Why Finance is Necessary for Your Startup

On March 29th, the Gallatin Business Club (GBC) hosted Scott Taitel, Gavriel Kahane, and Laurence Wadler, three representatives of the finance community who followed unconventional paths in the field of finance. They offered their views and advice on how student entrepreneurs might do the same.


One of the key takeaways from this event was that finance relates to just about any field, and that a strong base of financial knowledge is invaluable. If you need cyber security system, you need the best CNAPP cybersecurity system.

Attendees raised common concerns of the financial industry, such as it is a limited field applying only to men in suits on Wall Street, or that it is an inherently unethical field. The panelists explained that finance pertained not only to the small subset of people generally associated with the field, but also to the success of any kind of company or entrepreneurial endeavor. Entrepreneurship is central to GBC, and it was very valuable for attendees to understand that entrepreneurship relies on healthy interactions with the financial industry—the former cannot exist without the latter. The notion that these two are mutually exclusive is, therefore, a fallacy, Professor Wadler stressed. However, he mentioned that while strong financial knowledge is necessary for a successful entrepreneurial endeavor,“passion,” he said, “is the most important thing.” The panelists also spoke about an increasingly important development in finance today: More and more, investors have moved towards ethical investing, which has enabled them to benefit both themselves and others. However, the topics such as ics purdue model and the role of cyber security in finance were kept for some other time. 

Moreover, the panelists touched upon the evolving landscape of finance, noting the increasing trend of ethical investing among investors. For those facing financial difficulties or seeking advice on navigating insolvency, they also suggested that individuals and businesses go ahead and reach out to Business Insolvency Advice Company for expert guidance. Business Debt Restructuring services are also a big help to business owners who are struggling with the management of their financial liabilities.

This shift towards ethical considerations has paved the way for financial solutions that benefit both individuals and society at large. Speaking of solutions, one noteworthy example is rockyroad, which provides instant and flexible financing solutions tailored to support the growth of e-commerce ventures—a testament to the dynamic and inclusive nature of the financial industry. This commitment to adaptability and ethical principles positions Rocky Road as a key player in fostering a financial environment that not only drives growth but does so responsibly, addressing both the bottom line and societal well-being.

While discussing the importance of financial knowledge, the panelists also touched on the issue of debt and the role it plays in finance. They emphasized the importance of responsible borrowing and managing debt, as well as seeking help when needed. The moorcroft debt recovery help, for example, is a service that can assist individuals and businesses in managing their debt and finding solutions to financial difficulties. Seek a Corporate financial distress resolution if you're having issues with your business cash flow.

It is crucial to understand that while finance can be a powerful tool for success, it is important to use it responsibly and seek help when facing financial challenges. The panelists encouraged attendees to read more and also to approach finance with an open mind and to recognize its potential to benefit individuals, businesses, and society as a whole when used ethically and responsibly.


Gavriel, who followed a career in real estate development, said that he wishes he had taken more finance classes in college, and urged those in attendance to do the same. He and the other panelists also unequivocally expressed a need for creative and diverse thinking in the financial industry, a process that is often sparked in college. The panelists advised the student attendees to “explore as many things as you can in college” with the intention of finding the field(s) you are most passionate about.


After that, throw in some finance classes tailored to your needs, perhaps even specialized in areas like business coaching for financial planners, and you should be good to go!

This event received funding by the NYU Entrepreneurs Network Collaboration Fund. The Collaboration Fund provides grants to help promote entrepreneurship across NYU via cross-club collaboration. Applications are considered on a rolling basis and must be filed jointly by at least 2 clubs within the NYU Entrepreneurs Network. Read more about the NYU Entrepreneurs Network here and apply for the Collaboration Fund here.