David Frodsham and Heinrich Liechtenstein
Palgrave Macmillan
RRP £26.00
It’s rare to find a book on finance that’s both informative and entertaining. Somehow though, David Frodsham and Heinrich Liechtenstein have cracked it, addressing how crucial a focus on your business’ finance is to its growth prospects. Advising readers not to confuse finance with accounting they write: “If finance can be thought of as a goal-scorer, accounting would be the score-keeper.”
The book is split into 10 easy to read and relevant chapters, each of which is accompanied by an entertaining episode featuring the fictional company ‘MissIngeFashion’, which provides a back-drop to illustrate potential financial challenges and how to overcome them.
Frodsham and Liechtenstein also provide advice on sustainable growth and give invaluable tips on how to build a ‘cash-lean’ company, highlighting the importance of reviewing and re-reviewing your financial processes, before starting to “think beyond financial processes” by looking at credit control and making sure customer invoices are paid on time.
If you take away anything from this book it is the importance of focusing on finance not only to develop your business, but ultimately to get it in good shape to sell if, and when, you decide to exit.