8 Workarounds to Manage Your Cash Flow if Finance is Not Your Strong Suit
It could save your company.
Whether you are a startup or a small to medium enterprise (SME), you will always need financial savvy to function and grow or you will fail.
Unfortunately many business owners are not adept at numbers at all. Usually they are designers, marketers, programmers or even sales people. If you count yourself in that category, read on because this is vitally important for your company’s survival.
First of all, you are not alone. My first job out of graduate school was in investment banking. One of my first tasks was to write a private placement memorandum to raise capital for a savings and loan customer.
I had no idea what I was doing. I was an econ major and while I was great at math and even taught statistics to undergraduates, I didn’t know how to even read an income statement let alone crunch numbers that would be a necessary part of my job.
Luckily, my office mate and later one of my closest friends had just graduated with an MBA from the Anderson School of Management at UCLA. She taught me how to read and analyze financial statements.
I still remember her teaching me about balance sheets, which are not intuitive at all when you think of it.
