Regardless of the size of the business, the ultimate responsibility for success lies with the CEO. If you’re a small business owner, that’s you. And the most critical CEO tasks that result in success or failure lie in the knowledge and practice of financial management fundamentals.
Recent statistics show that over half of small businesses fail within the first four years. Clearly, that mortality rate could be significantly reduced if, before a business opens, the founder/CEO was required to pass a course that teaches business financial fundamentals and how to operate a business with them.
Don’t worry. Your humble advocate would never presume to lump you in with those who need business finance schooling. You, no doubt, are squared away on that score, but perhaps you know a small business CEO who isn’t. And let’s say you’re keen to give that CEO – your “friend” – the maximum opportunity to avoid becoming a marketplace battleground casualty.