There is nothing more fun and rewarding than starting a small business on your own. But, the path to success is never an easy one. Without financial independence, you cannot fulfill your short-term and long-term targets. For finance professionals and business owners, it is crucial to understand and learn the history of the finance industry. There are some great finance books available in the market to help you manage your finances well. If you have your own business, here are some suggestions to improve your handling of money:
- Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine
‘Profit First’ by Mike Michalowicz offers a fresh outlook on what it requires to run a small business. This book will show you the path to changing your business from one of the cash-devouring enterprises into a money-vending machine. The tone is conversational, making it an easy read. In the end, you’ll develop a deep understanding of how a business makes profit and in what ways you can control it.
- The Millionaire Next Door
William D. Danko and Thomas J. Stanley are the authors of the book the Millionaire Next Door. By citing examples of American millionaires, this book is replete with thought-provoking anecdotes. The three key strategies suggested in the book are spending less than your income, avoiding an extravagant lifestyle and investing money in diverse endeavors to get impressive returns.
- Accounting for the Numberphobic; A Survival Guide for Small Business Owners
Dawn Fotopulos in his book ‘Accounting for the Numberphobic’ tells readers how significant it is to understand accounting for business professionals. This book is the perfect guide to get rid of your fears related to financial management and embark on a journey to economic literacy.
- Found Money: Simple Strategies for Uncovering the Hidden Profit and Cash Flow in Your Business
Considered a must-read for startups, the book is a treasure house of ideas and concepts that will help you get positive financial outcomes. Written by Steve Wilkinghoff, it provides simple advices on how to notice, better and monitor your business and make good money. There are interesting approaches that you can apply in your business to create profitable, predictable, and healthier financial results.
- The Intelligent Investor
Written by Jason Zweig, Warren Buffet, and Benjamin Graham, ‘The Intelligent Investor’ is a bible for investors. It has motivated and taught people worldwide. One of the main tricks described in the book is purchasing undervalued stocks from strong companies and then holding them for many years. As the value of the company increases in future, the investor becomes richer.
- How Finance Works
If you have never handled finance before, it can be intimidating for you. Read ‘How Finance Works’ by Mihir Desai to be able to make wise financial decisions.
Reading books on business finance will allow you to gain priceless insights and enhance your learning curve in matters of finance and business. Order some of the books we have mentioned on our list and take a giant step towards a thriving entrepreneurship.