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Accounting for the Numberphobic: A Survival Guide for Small Business Owners Paperback – September 3, 2014
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Insightly Best Small Business Books of 2014
“….highly recommend the book to any small business owner, and it’s a great resource for any accountant who’s trying to explain accounting and financial statements to a non-accountant.” --Strategic Finance
"My copy is battered and torn, marked with post-its and scribbles....This should be a must read for every single business owner." --Stephanie Burns/Chic CEO for Forbes
Why do so many business owners dread looking at the numbers? They make excuses…They don’t have time…That’s what the accountant is for....But the simple truth is that no one else will ever be as invested in their company as they are—and they need to take control.
As a small-business owner, financial statements are your most important tools—and if you don’t know how to read them and understand their implications, you cannot possibly steer your business successfully. Accounting for the Numberphobic demystifies your company’s financial dashboard: the Net Income Statement, Cash Flow Statement, and Balance Sheet. The book explains in plain English how each measurement reflects the overall health of your business—and impacts your decisions. You will discover:
How your Net Income Statement is the key to growing your profits • How to identify the break-even point that means your business is self-sustaining • Real-world advice on measuring and increasing cash flow • What the Balance Sheet reveals about your company’s worth • And more
Illustrated with case studies and packed with practical action steps, this indispensable guide will put your business on the path to profitability in no time.
If you’re the author, publisher, or rights holder of this book, let ACX help you produce the audiobook.Learn more.
Top Customer Reviews
The author Dawn Fotopulos breaks down the financial statements of business into recognizable everyday language of an automobile dashboard. One of the greatest strengths of The United States today is our entrepreneurial spirit. Combined with the unprecidented lower barriers of entry that allow competition, this is the Era of the Startup. Spiderman’s Uncle said, “With great power comes great responsibility.” This is very true with the leverage and capital this Startup Movement has created.
As Entrepreneurs we are building jets (Launching Companies), carrying cargo (product) & passengers (customers/employees), blasting into the stratosphere for the entire world to see on Facebook, Twitter, etc. And for me personally, having just enough information and understanding to be extremely dangerous. The simple and proper perspective Dawn brings, I believe is training me for understanding to be an effective operator as a business leader. This is done without trying to turn me into a bookkeeper, accountant, or CPA.
My personal story and history has been, I believe, a typical one for the entrepreneurial personalities out there. Excellent product and people person. Natural salesman. Passionate with a vision, having the ability to communicate the destination. All these qualities people would celebrate as a leader. The great danger for startups and entrepreneurs is this. We are taking this long journey into the wilderness without the knowledge of how to read our basic instruments. Fear takes over and discouragement is encountered by well meaning colleagues who are naturally “Number Guys/Gals”.Read more ›
It was a great read. The book addresses many of the universal concerns solopreneurs and small businesses owners have when starting or maintaining a business. Many of these solutions, the author provides, are very easy to implement and are very practical.
The author truly explains all the accounting in lay terms. In other words, you do not have to have a business degree to understand the book. More importantly, she shows you how to do the math for yourself.
Below are just a sampling of questions she answers in the book:
1. Am I charging enough for my products/services?
2. How do I keep a good cash flow going, especially when I have to invoice my customers?
3. Am I making an enough profit on a given product/service to cover my expenses?
4. Am I making a profit on a given customer to cover my expenses?
As a reminder, she shows you how to do the math on the above questions. This is important for any business, because you, as the business owner, can make informed decisions about the services, products and customers your business works with.
The only downside to the book is not having the same amount of information for service based businesses as product based businesses. Nevertheless, there is still a great deal of information that is applicable to both types of businesses.
Most Recent Customer Reviews
I purchased this book because it was written by my high school friend, but as a non-accountant found it quite interedtingPublished 18 days ago by Mary E. Dunn
All I can say beautiful. The best book I have ever read. The way it is written made the process so easy and simplified that a person with a minimum amount of math knowledge can... Read morePublished 28 days ago by Amazon Customer
As a small business owner, this is my go-to manual for all things accounting. Dawn's straightforward approach opened my eyes to all of the "nitty gritty" accounting of... Read morePublished 1 month ago by Anna K. Krusinski
I don't have any MBA degree but after I read this book it saved me many year to go to college. I feel more confident with this realistic book. I love it.Published 2 months ago by Amazon Customer
Great, listened to the Audio book, now reading the actual book.. simply explained easy to follow ..Published 3 months ago by Daniel
It's really a great body of work! Too many business owners are held captive in this area. Your work sets them free....Published 6 months ago by Amazon Customer
The chapter on managing cash flow lit the fire under me to help me help my company's project managers collect more aggressively on their AR. Read morePublished 6 months ago by Johanna
Yes, she's my sister, but I'd say this even if she weren't...this is a MUST READ for anyone with a small business or anyone THINKING OF OPENING a small business. Read morePublished 7 months ago by Madeline Masser