Understanding business financials is vital to the success of your business. Our guests discuss financial strategy and planning alongside all things money.
If you are an ideas person then taking the time to understand finances may seem like a real chore, but as you grow your business it becomes a fundamental skill. The ability to read and understand financial documents puts you in far superior position than those that cannot. They allow you to forecast more accurately and see any potential shortfalls in cash on a basic level. They tell you where your company is right now, so indispensable in growing your business.
“The word accounting comes from the word accountability. If you are going to be rich, you need to be accountable for your money.” Robert Kiyosaki
This article by the Harvard Business School also provides some great knowledge on how to read financial statements.
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