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Financial Intelligence for Entrepreneurs: What You Really Need to Know about the Numbers

4.26  ·  Rating Details ·  605 Ratings  ·  28 Reviews
Using the groundbreaking formula they introduced in their book Financial Intelligence: A Manager's Guide to Knowing What the Numbers Really Mean, Karen Berman and Joe Knight present the essentials of finance specifically for entrepreneurial managers.
Drawing on their work training tens of thousands of people at leading organizations worldwide, the authors provide a deep un
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ebook, 284 pages
Published October 7th 2008 by Harvard Business School Press (first published March 25th 2008)
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(showing 1-30)
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Robert
Dec 02, 2008 Robert rated it it was amazing  ·  review of another edition
This volume offers a new edition of a book first published (entitled Financial Intelligence) in 2006. Although the focus in this second edition is on entrepreneurs, the material provided will help all managers to develop the entrepreneurial mindset to which Welch refers, and, to acquire a highly-developed financial intelligence quotient (FIQ). Moreover, they can then do everything they possibly can to develop a high-level of FIQ among others at all levels and in all areas of their organization. ...more
Elaha Naderi
Jun 02, 2015 Elaha Naderi rated it really liked it  ·  review of another edition
The topic is meh, and this is not an accountant's book. Exercises at the end to practise. Context, and sensitization to what the numbers really mean and why they are important, as well as how and why they are modified by accountants, CEOs, CFOs, and the implications. Good to read if you're owning, or thinking about starting a business - you'll need to think about this at some point.
Need some more real-hand practice though. Would combine with case studies or list of interesting case studies (À la
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Mike Adeleke
May 09, 2016 Mike Adeleke rated it it was amazing  ·  review of another edition
I was amazed to learn how little I knew about accounting and financial terms and yet how accessible they were once I saw them in context. This book enables anyone to quickly get up to speed on the key financial metrics of their business.
Fred Rose
If you know finance, this is not a useful book. But if you have no formal finance or accounting training, this is a nice book. It's explicitly geared towards entrepreneurs and helps you understand what parts of typical financial statements are useful to you, and why. I found it to be a pretty good book. I would have like to have seen a little more, and a little clearer explanation, on ROI calculations. Overall though for an entrepreneur who isn't a business major, it's worth reading.
Krishna
Good book to understand the basics on Financial statements, important ratios, and how they will be used. They are very well explained in Layman's terms. It is useful for someone who doesn't know all these. I already knew most of the things described. Hence that 3 star.
Nancy
Got me acquainted with the basics of company financials. Well written, because it's so easy to understand.
Justus
Oct 08, 2010 Justus rated it it was amazing  ·  review of another edition
Shelves: business
A very simple clear introduction to the art of accounting in the context of running a small business. Well written, great book.
Lesego
Feb 14, 2017 Lesego rated it it was amazing  ·  review of another edition
Finance is a part of our daily lives, yet so little emphasis is placed on financial education during an individuals life as a scholar, a student, an employee or employer. This leads to a person feeling rather hobbled and distressed once faced with the inevitable financial responsibilities of being an adult.

I believe that this book should be mandatory reading from a high school level. This book is so well written and easy to understand that I found myself not being able to put it down. It took me
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Will
Jan 01, 2014 Will rated it really liked it  ·  review of another edition
Since I'm exploring this whole "entrepreneurial mindset", I felt it was important to bolster my finance knowledge from that perspective. There are so many personal finance styled books to choose from, and I kicked around a few titles before purchasing this one.

One of the reasons I chose it is because it's mentioned in the recommended reading list in The Personal MBA: Master the Art of Business. That book was very comprehensive while at the same time being concise and accessible, and I felt I cou
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Tony Bradshaw
Dec 30, 2016 Tony Bradshaw rated it it was amazing  ·  review of another edition
This book's a great introduction to business accounting, and I imagine the person who would benefit the most is a small to mid size company either struggling with the cash flow (business should be sound, but difficult to keep cash in the bank at all the right times) and/or someone bringing an accountant. Something to keep on the shelf for a quick refresher before meeting with an accountant to remember exactly which ratio you'll be discussing. Also wish this was a reference book when I took busin ...more
Minah
May 04, 2012 Minah rated it it was amazing  ·  review of another edition
This book is very helpful and well written for people who don't know anything about finance. (This volume focuses on entrepreneurs but no matter who you are, it's so worth a read to understand finance thing.) Only thing to be sure is "many numbers on the statement reflect estimates and assumptions." So have to understand it and to be intelligent to asses those numbers for running healthy business or even your personal finance.
Marco
Feb 14, 2015 Marco rated it it was amazing  ·  review of another edition
A clear and solid introduction to basic financial concepts, with many concrete examples. Since the book is focused on owners of small businesses, it focuses on showing the meaning of the many metrics and reports presented by the authors, an approach that can be useful even for those outside the book's main target demographic.
Begoña
Oct 19, 2012 Begoña rated it it was amazing  ·  review of another edition
Imprescindible. Quiero que todo el que trabaje en una empresa que tenga que ver conmigo se lo haya leído. Quiero regalárselo a Pedro y Txema, etc. Clarito y ameno (para el tema que es). Probablemente escriba un artículo sobre él en el blog.
Nikhil
Feb 18, 2014 Nikhil rated it really liked it  ·  review of another edition
Shelves: english

It was really an eye opener..However since i was reluctant to take pen and paper and workout the exercises,i wouldn't say i made full use of it.But now i have a reference material to relay on in case of need.Its a must have in every manager's shelf.
Nikhil Mishra
Dec 14, 2015 Nikhil Mishra rated it it was amazing  ·  review of another edition
Shelves: my_reading_list
It should be your first book if you are novice and an entrepreneur. Go grab this book, there are other books like Accounting made Simple, How to read a financial statement but Financial Intelligence for Entrepreneurs stands out all of them.
Rachel Nortz
Feb 04, 2017 Rachel Nortz rated it really liked it  ·  review of another edition
Even though I'm using this for a grad course and not an actual start-up, this book is something I'll keep on my shelf. My undergrad was in business so this was a great refresher tool, but above all else I enjoyed the tone. It's analytical but still practical.
Dinesh Weerapurage
The best book I read on financial education this year. Highly recommended to anyone who does not have any financial background.
Matthew
Jan 03, 2014 Matthew rated it really liked it  ·  review of another edition
Shelves: finance
Good breadth of coverage. Great overview or refresher on many financial topics. Don't expect an in-depth discussion on each topic but that's to be expected given how many topics are covered.
Jonathan Biddle
Mar 15, 2012 Jonathan Biddle rated it it was amazing  ·  review of another edition
Shelves: 2012, kindle
Extremely helpful book for people (like me) who know almost nothing about business finance. My only complaint is that the Kindle version was a little hard to navigate.
Masa
Jun 22, 2016 Masa rated it really liked it  ·  review of another edition
Shelves: business, half-read
A very good reference with some moral stories. I'd definitely revisit as needed.
Brandon Carlson
Apr 20, 2013 Brandon Carlson rated it really liked it  ·  review of another edition
Good book. Lots of solid information about what the numbers mean and how fuzzy they really are.
Atewet Tsegay Negash
A 101 about accounting fir entrepreneurs and a vey simply manual/encyclopedia to refer to when dealing with finance as a non-accountant mindset.
Mike Gaeta
May 16, 2016 Mike Gaeta rated it really liked it  ·  review of another edition
Shelves: business
"the art of finance may well just as easily be termed the art of making a profit."
Ravi
May 04, 2015 Ravi rated it it was amazing  ·  review of another edition
need to reed and buy
Jorge Perez
Jorge Perez rated it really liked it
Oct 09, 2014
Chris Sanchez
Chris Sanchez rated it really liked it
Feb 16, 2015
Robert Baca
Robert Baca rated it it was amazing
Jul 09, 2016
Kai Tang
Kai Tang rated it really liked it
Jul 05, 2014
Rob
Rob rated it it was amazing
Dec 31, 2016
Meghan
Meghan rated it it was amazing
Dec 25, 2014
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“EMPLOYEES ARE OUR MOST VALUABLE ASSET” (OR ARE THEY?)” 0 likes
“You can think of operating expenses as the cholesterol in a business. Good cholesterol makes you healthy, while bad cholesterol clogs your arteries. Good operating expenses make your business strong, and bad operating expenses drag down your bottom line and prevent you from taking advantage of business opportunities.” 0 likes
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