Description
ENTREPRENEURIAL FINANCE
In a recent survey of business owners, the functional area they cited as being the one in which they had the weakest skill was the area of financial management—accounting, bookkeeping, the raising of capital, and the daily management of cash flow. Interestingly, these business owners also indicated that they spent most of their time on finance-related activities. Unfortunately, the findings of this survey are an accurate portrayal of most entrepreneurs—they are comfortable with the day-to-day operation of their businesses and with the marketing and sales of their products or services, but they are very uncomfortable with the financial management of their companies. Entrepreneurs cannot afford this discomfort. They must realize that financial management is not as difficult as it is made out to be. It must be used and embraced because it is one of the key factors for entrepreneurial success.
This book targets prospective and existing “high-growth” entrepreneurs who are not financial managers. Its objective is to be a user-friendly book that will provide these entrepreneurs with an understanding of the fundamentals of financial management and analysis that will enable them to better manage the financial resources of their business and create economic value. However, the book is not a course in corporate finance. Rather, entrepreneurial finance is more integrative, including the analysis of qualitative issues such as marketing, sales, personnel management, and strategic planning. The questions that will be answered will include:What financial tools can be used to manage the cash flow of the business efficiently? Why is valuation important? What is the value of the company? Finally, how, where, and when can financial resources be acquired to finance the business?
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