Chapter 16
Financial Management 101
IN THIS CHAPTER
Understanding the basics of financial management
Establishing strong financial controls
Finding technology solutions that work for you
Even if your business hasn’t embarked on the road yet, you need to understand finances. After all, you can’t figure out what’s happening with your fancy vehicle without knowing the meaning of things like the fuel gauge and how your speed affects the amount of fuel in your tank.
Yeah, we know, it’s more complicated than that. And we know that many of your investors work in finance or have plenty of experience in it. Before your vein pops out of your forehead, no one expects you to be a financial expert.
However, and you saw this coming, you need to know the fundamentals if you’re going to succeed, and we’re here to help fill you in. Even if you think you know everything, we challenge you to at least skim through this chapter and see if you know everything we cover here.
Reading the Scorecard
Understanding your financial statements is like reading a scorecard from your favorite sport. If you haven’t looked at the score information about your team’s game in too much detail, the numbers may not make ...
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