Title: Finance on a Beermat
Author: Chris West, Stephen King, Jeff Macklin, Publisher: Random House Business
Review: Taking the financial temperature of a business is one of the obvious ways of judging its health. Yet many entrepreneurs have a limited understanding of what the figures mean, nor what can be done to manage them better.
This extremely readable book is part of the “Beermat” series, and is written by an entrepreneur in partnership with two finance professionals. Thus it deals with the nitty gritty of money with technical accuracy, but in an entrepreneur’s language. It particularly explains why the various concepts are important, and the reasons why the bank or your accountant might raise them. Understanding the reasoning can help prevent questions being raised in the first place, as well as keeping the blood pressure normal if they are.
No business is static, and it is possible to plot its life cycle from birth to maturity. There are thus chapters dealing with the different stages of development of a small business.
This book will also help you manage your accountant, giving you an idea of when to listen to them, and when to probe what they are saying.
You can buy the book via our Amazon bookshop here.