Starting Up, and Conquering the Numbers

Many people start a business because they want to support themselves doing what they love. Too often, though, they neglect to focus on the numbers side of the business. Creative types, especially, often say they’re turned off by the "unappealing," "complicated" or "just plain boring" aspect of financial management.

If you want to be successful, you’ll need to ramp up your accounting knowledge. While you can certainly rely on an accountant, bookkeeper, or trusted employee to provide advice on your company’s finances, it’s critical that you gain a comfortable understanding of the numbers. As the owner, you’ll need to make important decisions concerning the purchase of inventory or equipment, expansion into new markets or the hiring of more employees. To do so, you’ll need to have a handle on your company’s finances.

By COLLEEN DEBAISE

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