A study was conducted of the sick businesses in the world to find out ‘why businesses fail’. The usual perception is that businesses fail because of:
- Technological obsolescence
- Marketing inefficiency
- Labour problems
The study found that most business failures were caused not due to any of the above reasons, but because of FINANCIAL MISMANAGEMENT.
Now that is really a pity because THIS IS AN AVOIDABLE REASON OF SICKNESS.
Why does it happen?
FINANCIAL MISMANAGEMENT is the result of an erroneous belief that finance management happens only in the finance department. The truth is that financial management is the responsibility of the entire organisation. Every action of every individual can be translated into either GOOD FINANCE MANAGEMENT or BAD FINANCE MANAGEMENT.
If bad finance management causes so much grief, it is imperative that organisations practice Good Finance Management.
The two golden rules for success
What constitutes Good Finance Management can be a subject which can take years to learn.
However, I have devised TWO GOLDEN RULES OF GOOD FINANCE MANAGEMENT.
If you promise not to violate these rules, I promise you that you will be able to avoid most of the financial mismanagement pitfalls and it will lead you to success. If any of these two rules is violated, it will extract a price.
I would like to offer you a free video explaining these two rules