In business? Learn how to invest

If you're in business, as an employee or an entrepreneur, learning to invest will afford you more than a handful of helpful principles - from the time value of money to risk vs reward and opportunity cost. If all of these are foreign concepts to you, don't worry, I mention a book that outlines this stuff in simple terms later.

As businesses get big enough, one of their primary functions becomes capital allocation, or investing, anyway. The CEO's responsibility is to decide where a company's resources are best placed. While I advocate for small businesses not just being tiny big businesses, this is one trait that does translate. No matter the size, where to invest your resources remains one of businesses most difficult questions.

If you're looking to get started, the first chapter of Joel Greenblatt's book "The little book that still beats the market" gives one of the most basic explanations of investing as he explains Jason's gum business. And while I cringe at the name of the "magic formula" outlined in this book, the cringe is matched by the sheer brilliance of how he simply explains his concepts of choice.

Consider learning about Jason's gum business, before starting out on your own.