In Episode 96 of The Reaching Max Potential Podcast, we delve into the essential aspects of managing business finances, a cornerstone of successful entrepreneurship. This episode covers key financial practices, including budgeting, cash flow management, financial forecasting, and strategic investment. We discuss how these elements contribute to a business's growth, sustainability, and resilience. Practical tips on using financial management tools, understanding financial ratios, and implementing risk management strategies are also explored, providing entrepreneurs with actionable insights to enhance their financial acumen.REFERENCESAltman, E. I. (1968). Financial ratios, discriminant analysis and the prediction of corporate bankruptcy. The Journal of Finance, 23(4), 589-609.Barney, J. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99-120.Bunce, P., Fraser, R., & Woodcock, L. (1995). Advanced budgeting: A journey to advanced management systems. Management Accounting Research, 6(3), 253-265.Chenhall, R. H., & Morris, D. (1986). The impact of structure, environment, and interdependence on the perceived usefulness of management accounting systems. The Accounting Review, 61(1), 16-35.Hopkin, P. (2018). Fundamentals of risk management: Understanding, evaluating and implementing effective risk management. Kogan Page Publishers.Markowitz, H. (1952). Portfolio selection. The Journal of Finance, 7(1), 77-91.Nash, K. S. (2018). A comparison of small business accounting software. Journal of Accountancy, 225(5), 34-39.Peavler, R. (2020). How to avoid cash flow problems. The Balance Small Business. Retrieved from https://www.thebalancesmb.com/how-to-avoid-cash-flow-problems-393236Penman, S. H. (2012). Financial statement analysis and security valuation (5th ed.). McGraw-Hill Education.Scholes, M. S., Wolfson, M. A., Erickson, M., Hanlon, M., Maydew, E. L., & Shevlin, T. (2015). Taxes and business strategy: A planning approach (5th ed.). Pearson Education. Hosted on Acast. See acast.com/privacy for more information.

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