Effectively managing your business finances and setting a strong foundation for growth is key to success, but many entrepreneurs struggle with this concept in practice. But help is at hand with the launch of a new edition of The Essential Finance Handbook for Entrepreneurs, authored by finance expert Precious Mvulane, founder of GAD Consulting Services Inc in South Africa. She is well known for providing specialist business training to entrepreneurs, focusing on financial literacy, but now is providing essential advice and guidance on implementing successful growth strategies in business.
The Essential Finance Handbook for Entrepreneurs offers seven systematic steps to setting up and managing your business finances, enabling you to set the foundation for success. In Step 1 you set SMART financial goals with rituals to ensure that you achieve them. Step 2 introduces you to the key resource in your business – you – and how to select an appropriate business structure bearing the pros and cons, income tax and financial considerations in mind. Step 3 deals with your legal obligations as a director running a registered entity. It also looks at your role as a taxpayer, trader and employer. Steps 4 and 5 focus on the ‘world of finance’ and how it works. It helps you identify the key role-players needed for good financial management and reporting. Step 6 provides guidance on how to design systems and controls in your business to ensure efficiency and profitability, and minimize risk. The last step helps you evaluate financial performance using ratios. It details possible reasons for poor performance and suggests strategies that can be implemented for success.
The Essential Finance Handbook for Entrepreneurs includes over 240 best-practice strategies, exercises, tips and case studies. You also have access to over 48 templates, tools, checklists and action plans that you can download, and you receive a R2,500 discount voucher for Finance Success™ Program distance learning.
The first edition of the book focused on business development but this time includes a section on personal development because Precious realized it was not about what you know but what rituals you do daily to achieve the results. We become what we routinely do.
The Essential Finance Handbook For Entrepreneurs by Precious Mvulane can be purchased from several retail stores and online shops including: Makro, Takealot, Bargain Books, Amazon, Adams, etc. It can also be ordered on the website www.financesuccess.co.za
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