I just finished reading a great book for business owners titled The Financially Savvy Entrepreneur: Navigate the Money Maze of Running a Business.
It's written in the language of the entrepreneur by Emily Chase Smith, "a 43-year-old mother of three who loves surfing and travel and couldn't tell you who played in the last Super Bowl".
She has great stories and examples throughout the book to help make her points come to life. Many of those stories come from her work as an attorney helping business owners who ended up in bankruptcy.
Untangling Your Business Obligations from Your Personal Finances
One thing that really impressed me in the book was her focus on helping you untangle your business finances from your personal finances.
Almost every business owner in the early days signs and personally guarantees virtually every obligation of their business. But they continue to think their business finances are separate from their personal finances. They're not.
If things don't work out in the business, then their business and their personal finances get flushed down the toilet.
Emily talks about how to begin to untangle those as your business matures so your business stands on its own financially. Very smart counsel.
Rave Reviews from Heavy Hitters
Here are just a few of the bigtime authors who are raving about her book:
"As a life coach I see many people who launch businesses to bring their dreams to life. But those same people frequently have no plan for responsibly handling the money generated by their business success. In The Financially Savvy Entrepreneur, Emily shares clear systems and processes for avoiding the financial pitfalls that derail so many businesses. Read this book, implement the safeguards, and protect your dream."
--Dan Miller, life coach and New York Times best-selling author of 48 Days to the Work You Love
"This is the book I wish I would have read before I started my businesses. It would have saved me a great deal of 'figuring it out the hard way' time and energy."
--John Jantsch, author of Duct Tape Marketing and Duct Tape Selling
You can get the book here.
You can learn more about her business coaching services here. She helps business owners make financially savvy decisions as they start, grow, and transition in their business.
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