( 1 reviews )
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( 13 of 13 found this review helpful ) Posted: May 3 2004
This book has many virtues. First, it knows its audience. While generalities are subject to all kinds of exceptions, entrepreneurs tend to be active people. This book is written concisely, but covers a comprehensive list of subject. However, it is essential to understand that it doesn't cover any of the subjects exhaustively. It is more like a tour of finance for entrepreneurs. Few people who have what it takes to start businesses will handle all of the financial subjects covered in this book without help and advice from professionals (nor should they), but every businessperson should have an understanding of every subject in this book at least to the level discussed in this very fine book.The treatment of forecasting, sources of funding, and valuation (including cash flow analysis) are vital topics that too many entrepreneurs treat too cursorily. The discussion in this book is certainly not sufficient to make you an expert on any of these subjects, but sill certainly assist you in becoming sufficiently conversant to speak knowledgably with professionals or prepare you for deeper study. The discussion of accounting is a very quick introduction to the subject and will definitely require deeper study unless you are going to completely outsource your accounting. I think this is a terrific textbook that could be used as part of a one term course on the subject and hope that it gets adopted at many universities, colleges, and I could even see it used in specialized high school settings for the right kind of bright and driven students.The material in the book isn't particularly hard, but it is broad. While it can be read alone (especially if you have some familiarity with the subject), it will definitely benefit most students to have the guiding hand of a skilled instructor, class discussions, and applied projects.I think this is a fine and successful book that will benefit many.
