Having a strong command over your business’ finances is imperative for sustained growth and better profits. One way of ensuring that you make no mistakes is to constantly update your financial knowledge. The more perspectives and insights you are aware of, the more nuanced, and thought-through your approach towards your business’ finances will be. While you can hire a team of financial experts, it is also important for businesspersons to know their firm’s finances inside out.
To ensure that you are taking the best financial decisions for your company, take a look at the 5 books that you must read.
1. Dictionary of Finance and Investment Terms – Barron’s Business Dictionaries
While you may understand financial concepts that your firm needs to rely on to succeed, being able to communicate your financial outlook and decisions clearly and effectively is crucial too. The Dictionary of Finance and Investment Terms will ensure that you are speaking the right language. With over 5,000 terms the book serves as a ready reckoner filled with financial abbreviations, diagrams, charts and helpful illustrations.
2. Rich Dad, Poor Dad – By Robert Kiyosaki and Sharon Lechter
If you’re looking to ease into understanding business finance, Rich Dad, Poor Dad is a good book to begin with. It explains key concepts for your venture’s financial success simply, so that you can imbibe and internalise them with ease.
3. Visual Finance: The One Page Visual Model To Understand Financial Statements And Make Better Business Decisions – By Georgi Tsvetanov
If you want to improve upon using accounting results to improve the quality of your business decisions, look no further than Visual Finance. It is an excellent guide that simply yet effectively helps you grasp the essentials of business finance, as well as alerts you to the mistakes that you must avoid.
4. An Empire of Wealth: The Epic History of American Economic Power – By John Steele Gordon
As a businessperson, it is imperative that you look at the larger picture to further growth, and this book helps you do just this. It combines history and financial wisdom and presents it to you in a neat package. It tells you all about America’s rise to financial prosperity in a simple, uncomplicated manner, thereby offering you valuable insights that you can apply to the finances of your own business.
5. Traction: Get a Grip on Your Business – By Gino Wickman
This book proves to be very insightful for businesspeople seeking a fresh approach to give their company’s finances a boost. It addresses issues like slow growth and dwindling or declining profits and offers a unique solution: the Entrepreneurial Operating System, which in the words of the author, Gino Wickman, will help you “achieve the business growth that you have always envisioned”.
So, if you’re looking for ways to sharpen your financial acumen, reading these books is an excellent way to get started. This mix of titles will offer you a spectrum of insights that will help you tackle the various aspects of managing business finance.
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