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What are some good ways to learn more about financing your business?
I would like to learn more about business finance so I can do a better job managing it myself. What are some good books or online courses that you have come across to learn more about finance?
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I had on the job training but here are some things I recommend to my clients:
As far as books and courses
Book: Emyth Revisited basic understanding of business systems and their importance to the growth of a company.
A basic bookkeeping or accounting book or class
A good business finance course at your local college's continue ed program. Often there are classes just for business owners.
You can take courses specific to a financial software you're using.
See what your local SCORE and SBA offices offer online and at their local.
But the biggest thing, IMO, is to create 9 objectives for your business in 2011-- S.M.A.R.T. goals and then follow those numbers daily or weekly.
Find someone in your life (or hire someone) to help you understand your financials better.
And have a great bookkeeper and accountant/cpa. While owners should understand our numbers, we shouldn't be putting them into the computer, like a book keeper or A/R clerk would do. That's not the best use of our time. I think that it's best for the owner to look at the reports, understand what makes up those numbers, ad then make adjustments to the way you operate when the figures aren't working out the way you thought. You can get daily, weekly, monthly, quarterly and yearly reports created to view.
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