- Paperback: 272 pages
- Publisher: AMACOM; Special ed. edition (September 3, 2014)
- Language: English
- ISBN-10: 0814434320
- ISBN-13: 978-0814434321
- Product Dimensions: 6 x 0.6 x 9 inches
- Shipping Weight: 1 pounds (View shipping rates and policies)
- Average Customer Review: 108 customer reviews
- Amazon Best Sellers Rank: #48,708 in Books (See Top 100 in Books)
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Accounting for the Numberphobic: A Survival Guide for Small Business Owners Paperback – Special Edition, 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
Small Biz Trends Small Business Book Awards Economics 2015
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.
Top customer reviews
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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”. Fighting to survive day to day naturally leads to focusing on activities that “Generate Money.” Selling more, Marketing better, Buidling more.
I’ve read books on Quickbooks, Bookkeeping, signed up for online services, Stewardship seminars, and have even gone to counselling because of the stress and pressure I’ve placed on myself. All these activities have aspects of help and assistance, but none have communicated to me the way this book does.
Accounting for the Numberphobic: A Survival Guide for Small Business Owners takes the monster of Financial Statements and transforms it to the tools that they are designed to be. Spedometer, Fuel Guage and Oil Pressure. The boogeyman has no teeth and no more claws.
The excitement I am beginning to feel with each chapter of this book is nothing short of a miracle for me personally. Without guilt or shame, I am facing my fears of “The Numbers” and taking my knowledge from being merely intuitional guessing to a thoughtful methodical creative process.
Gone are the days of “Googling” accounting terms and figuring it out myself.
I thank God for Dawn Fotopulos and the work she put into this book
Looking forward to following up with this review after I complete this book and beyond.
If you are a small business owner, this is the biggest tool you'll need in navigating the rough waters of entrepreneurship and making sure you make it out. It's not just a book on numbers, it's a back door to figuring out what the best strategy is for your business and giving you the tools on how to know if all of your work is making the right kind of difference. It teaches you the right kind of questions to ask so you get the answers you are really looking for. Also, especially if you are looking for outside funding, it will show you how to reduce your risk profile so that banks and other lenders will take a second look at you.
I have so many stories of businesses that were turned around or saved themselves from making costly mistakes by reading this book. From all over the world - whether it was with entrepreneurs in East Africa or in the US, this book empowered them to turn around their businesses in a very short period of time without working tremendously more.
My only complaint was that there weren't longer sections on how to implement strategy, but, my hope is that will be in a second book!
After further study with both the audio and Kindle versions, I decided to do a search on the internet to see if Dawn Fotopulos (the author of this book) might be available for consultation. I was pleased to find that she is teaching an online course, and I immediately signed up. She has personally helped me get started in taking steps that I have needed to have done 20 years ago.
I would highly recommend this book for someone that is "numberphobic" as I have been, or if you simply want to expand your perspective on what knowledge is needed in accounting for small business. Using Amazon's "Look Inside" feature from their website, or downloading a sample for your Kindle might be an excellent way to see if the book would be a good fit for you. I hope it is as life-changing for you, as it continues to be for me.