Entrepreneur Financial Skills and Resources

The most important financial skills every entrepreneur should possess. By Nick Rojas, a business consultant and journalist, written for Millo, a freelance job website. November 21, 2018. Lists and describes the following skills:

1. Understanding Credit
2. Budgeting
3. Project Management
4. Investing
5. Borrowing

Accounting for Entrepreneurs: 5 Skills You Need to Know. Written by Staff, Harvard Business School Online lists the following skills:

1. Managing cash flow.
2. Managing a balance sheet
3. Identifying a path to profitability.
4. Communicating about money including
   1. Employees, vendors, and investors or other stakeholders.
   2. Terms of payment and descriptions of scope of work.
   3. Protocols for everything related to payments, especially for working with multiple invoices, purchase orders, vendors, and tax accounts.
5. Forecasting the future of your business.

Other financial skills needed for financial literacy by entrepreneurs:

• Know how to find investors.
• Know key accounting concepts well enough to make decisions: balance sheet, budgeting, profit and loss, cash flow, spending.
• Keep current and accurate books.
• Monitor income, expenses, cashflow.
• Know how your business is doing financially at all times, even if you outsource accounting.
• Work with a tax professional to save money.

The most important financial skills every entrepreneur should possess. By Nick Rojas, a business consultant and journalist, written for Millo, a freelance job website. November 21, 2018. Lists and describes the following skills:

1. Understanding Credit
2. Budgeting
3. Project Management
4. Investing
5. Borrowing

Accounting for Entrepreneurs: 5 Skills You Need to Know. Written by Staff, Harvard Business School Online lists the following skills:

1. Managing cash flow.
2. Managing a balance sheet
3. Identifying a path to profitability.
4. Communicating about money including
   1. Employees, vendors, and investors or other stakeholders.
   2. Terms of payment and descriptions of scope of work.
   3. Protocols for everything related to payments, especially for working with multiple invoices, purchase orders, vendors, and tax accounts.
5. Forecasting the future of your business.

Other financial skills needed for financial literacy by entrepreneurs:

• Know how to find investors.
• Know key accounting concepts well enough to make decisions: balance sheet, budgeting, profit and loss, cash flow, spending.
• Keep current and accurate books.
• Monitor income, expenses, cashflow.
• Know how your business is doing financially at all times, even if you outsource accounting.
• Work with a tax professional to save money.