Entrepreneurs who gauge business success by the amount of money in their checkbook are setting themselves up for failure and missing out on tools that can help them grow their business. Financial statements, easily created by standard bookkeeping systems, can provide financial snapshots, warnings about upcoming cash shortages, and rearview-mirror looks at past successes and failures that often indicate a path for the future. It doesn’t take an MBA to understand how to generate and navigate financial statements. But where does a business owner obtain the basic knowledge that can help her build a financial foundation?
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