4 of the Best Books for Business Finance Management

How effectively you manage your business’ finances can have a direct impact on how fast it scales. A mismanaged book can be the proverbial chink in your business’ armor. Unfortunately, not all entrepreneurs are academically trained to manage the complex task of cash flow management. To help fill this gap, here are four books you should start reading:

The Intelligent Investor

The Intelligent Investor by Benjamin Graham is a classic book about smart long-term investing. While its contents are more of guidance for aspiring stock and bond investors, the book also covers market trends and cycles and other fundamental cashflow principles that can also be applied to business management. It also gives advice on what company attributes investors should look for when buying stocks, which can be used by entrepreneurs as a guideline to determine financial elements within their company that they should be working to bolster.

Accounting for the Numberphobic

As the book’s title implies, Accounting for the Numberphobic by Dawn Fotopulos discusses the basic accounting principles that drive every business, regardless of size or sector. The book breaks down essential concepts, such as ledgers, financial reports, account statements, profits, and your enterprise’s overall health. It’s ideal reading material for any new business owner who is trying to learn the accounting ropes.

J.K. Lasser’s Small Business Taxes 2020

Written by Barbara Weltman, a seasoned attorney, and business tax expert, J.K. Lasser’s Small Business Taxes 2020 will walk you through the latest tax regulations, IRS policies, and tax planning strategies that govern small-scale enterprises. The book discusses ever-changing tax laws and dispenses tips on how you can best save money when you file for your business taxes next year.

Financial Intelligence

This book by Karen Berman, Joe Knight, and John Case is one of the most recommended finance-related books by the industry’s top minds. It offers structured insight into what the numbers on report sheets and account statements mean. The tips and information are both for personal finance use and for understanding the broader general markets.

There is an extensive literature of finance material that you can peruse online or through a physical copy. Reading about business finance and how to manage your business’ properly can help streamline your cash flow and enable you to make more informed financial decisions.

The Best Books for Business Owners

Perhaps the most common trait amongst some of the most successful business figures is the yearning to keep learning. As a business owner, you know that trends, materials, and marketing changes on the fly. It is recommended to learn from those who’ve been in your position through the act of reading. But where should you start? The following list includes some of the best books that business owners should take the time to read.

7 Habits of Highly Effective People by Stephen Covey

There’s a reason why this book has continued to fly off the shelf year after year, and that’s because it’s simply timeless. Stephen Covey goes in-depth regarding the various areas of business, not just the logistics. He helps the reader understand the importance of improving all areas of their lives, including people’s lives outside the office. This book will learn about the art of time management, improving workflow, and having a positive mindset. This is no doubt a must-read, especially if you’re starting on your journey.

Influence: The Psychology of Persuasion by Dr. Robert Cialdini

Suppose you could only know what makes people say yes, then everything would be easier. Although it’s not possible to read people’s minds, it is certainly possible to become more aware of what people are thinking and how that influences their decisions. In this book, Dr. Cialdini goes over the six universal principles of customer persuasion. The book also helps you, as a business leader, avoid being influenced by specific physiological influences made by your clients, which can save you from making costly decisions.

The Art of War by Sun Tzu

Although this book is meant to educate war generals, it undoubtedly resonates with the world of business. For example, in the book, Sun Tzu talks about not letting your enemy know what your plans are. This allows you to catch them by surprise, and thus your chances of victory improve as well. This lesson can also be used in business. If you’re working on a new product or service, it would be wise not to tell anyone outside your company. Work on it until you know that it’s ready for the public, and only then should you attack the competition.