American Entrepreneur: “Basics of Accounting are Key to Survival”
August 15, 2011 § Leave a comment
Via The NYTimes:
“Few people start a business because they are good with numbers. In fact, the terms “accounting” and “financial analysis” tend to put business owners to sleep or send them screaming from the room. But to run a business effectively, most owners need to have some understanding of their finances. […] “It’s like a racecar that goes too fast and runs out of gas,” said Doug Tatum, a serial entrepreneur who is a visiting professor of entrepreneurship at Middle Tennessee State University in Murfreesboro. Business owners do not necessarily need to know how to prepare a balance sheet, but they do have to know which gauges to watch.” Click here to see what those gauges are.
How do you manage your finances? I’d love to hear about your tips and techniques!