This in an excerpt from this book
How to manage a business, know the business, know how to plan, to control spending, price formation of the products economy, are constant concerns on the day that every manager. It doesn’t matter if it is ruled only by one person or more, the principle is the same, having a financial organization is fundamental. The team that will drive the success of a company or not. It’s financial control that the manager makes decisions and view the actual financial situation of your business. But when it comes to micro-enterprises, for example, the manager has enough idea about the accounting procedures relating an administration. There is planning, a concern in knowing or to have skilled people to do the controls needed for the good financial progress of the company?
The manager has to take the time to record your cash inflows and outflows. You do not necessarily have a particular program that can encumber and hurt your finances, but through simple procedures, the individual who wanted to set up a company have to invest in skills necessary to learn to manage your business and give you profitable enough to have success in your venture.
Similarly, all business is subject to ups and downs, due to the fluctuations in the country’s economy, competition, regulatory changes or even by seasonality. Therefore, without being pessimistic, but cautious, you, as an entrepreneur, must continually be questioning. I suggest two magic words that can assist you in this process: “what if”?
What if …
.: my business grow too quickly?
.: My only customer terminate the contract?
.: I receive a much larger request than my production capacity?
.: There is an economic crisis?
.: My supplier does not deliver on time?
.: My competitor entering a price war?
.: My employee to resign?
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