I am an entrepreneur who thought of an idea and executed. We are growing and now I am realizing basic challenges that all business face when it comes to operations, employees and financial management. I do not have a strong financial background, no MBA, and have learned the basics to running my business through trial and error and learning from others. I feel that my lack of finance (understanding balance sheet, cash flow statement, P&L, income statement, basic accounting/bookkeeping, valuation) is hindering me. It hinders me primarily for two reasons: a) I don't have a true understanding of the financial health of the company and cannot measure with understanding our progress, challenges or opportunities b) ultimately if there is an exit, or need to report to the future board I need to know what I am talking about and answer the hard questions posed.
If you are a non-financial manager or have similar background where you were lacking finance knowledge:
- where did you gain your knowledge/experience to managing basic company financials?
- what was your greatest learning curve in the area of company finances?
Does anyone address this for startups? Thanks, @gesco