What Every Entrepreneur Needs to Know About the Bottom Line

Most entrepreneurs do not have the patience or smarts to pass the CPA license, as it takes years of study and practice and it is not for the weak. Most entrepreneurs cannot even sit down long enough to take the test and you certainly will not find any ADHD folks in the room who are going to pass the CPA exam.

Nevertheless, entrepreneurs need to understand the numbers to win. Business is about making a profit, knowing where you are at and projecting where you want to be. If you are a future or current entrepreneur or small business person, then I would really like to recommend a book to you that will help you at least understand the basics, because business is about the numbers:

“Winning Numbers – How to Use Facts and Figures to Make Your Point” by Michael C. Thomasett – 1990.

Using business statistics to find your way and make decisions is as important and using the figures and data to attract capital, convince customers and scare the competition.

There are many important figures you need to understand in business from the time-value of money to sales figures, and knowing what to do with this information and how to use it, whether you are doing data visualization or plotting projections, proformas and graphs for business planning, budgeting, management or tax purposes – is paramount to your success.

Every entrepreneur should have a business statistics background and if for some reason you missed it or thought it was too difficult at the time, I seriously recommend this book to help set your self on the right track.

L. Winslow is an Economic, Political and Technology Advisor to the Online Think Tank, a Futurist and retired entrepreneur http://www.worldthinktank.net . Mr. Winslow’s motto in life is; “Work Hard, Work Smart, Make Lots of Friends and Never Give Up!” Lance’s future challenges include bicycling across the US and writing 100 eBooks, he has written 10 so far, even considering co-authors for a few, perhaps you wish to write a book too?

Category: Cost Accounting Software