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.
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.