A quick pre-amble: I’m not a marketer myself, but I’ve been studying marketing & business strategy for a couple of years now to help me in my day job. This stuff is hard (for me), so I sometimes write my own reflections to help me internalise what I read. This is one of those “explain stuff to myself” posts. Thanks for reading! I’ve spent the past couple of weeks reading Cedric Chin’s excellent series on the expertise of capital in business. He makes the case that being able to raise and deploy money skilfully is one of the most underrated traits of business success. This got me thinking about how marketers could benefit from being more skilled in capital, even if they don’t want to become CFOs themselves. After all, CMOs often act as the “CFOs” of customer acquisition. Every day, they make decisions on when to pitch for more budget, how much money each channel gets, or...