My book, does what it says, it deals with the practicalities of the key issues of financial management of a business. It is aimed at the business owner or executive - probably not the finance director, because it is a readable introduction and not a textbook. It is primarily a practical guide for non-financial managers. It deals with the lifecycle of the business and the issues that financial management is all about but which the non-specialist should be aware of;
- Raising money
- Maintaining relationships with investors and financiers
- Accounting, reporting and communicating
- Budgeting and forecasting
- Managing (and cutting) costs
- Managing cashflow
- Assessing new investment projects
- I worked in venture capital and know what a business plan should look like
- I have extensive business planning experience with large companies
- I have been co-founder and finance director of a medium sized business
Key lessons include;
- Know where you are going
- Forecast but know that reality is always different, so prepare flexible plans
- Cash is king - manage your cash carefully
- It is easier to manage costs than to increase sales
- Take risks but think about them - don't deny they are there
