Resources: Financial Management 101
Now's the time to recognize your own limitations. If you often feel as though you're winging it when it comes to the intricacies of financial management, here are two worthwhile guides:
Financial Basics of Small Business Success (Crisp Publications, 415-323-6100, 1994, $15.95), by James O. Gill, helps business owners decide "which reports to read and understand." Bravo. Discussions of tools such as pro forma cash-flow charts may seem off-putting at first, but anyone willing to devote a few hours to this 235-page guide will enhance his or her ability to analyze the financial realities of a growing business.
Budgeting for a Small Business (also from Crisp Publications, 1994, $15.95), by Terry Dickey, places the emphasis on all aspects of the financial-planning process -- including useful breakdowns of the different issues concerning start-ups and "surviving" businesses, as well as companies that are expanding and seeking capital.* * *