If you understand your financials, you can become and stay profitable. According to author Ruth King, who's successfully owned seven businesses, all you need to devote is 30 minutes a month to reviewing and analyzing your numbers with her easy three-step process. Some activities are weekly, such as reviewing your cash-flow report. Others are monthly, such as doing your financial ratio analysis and trend analysis.

The book is easy and quick to read; no accounting background is needed. It is packed with practical business advice, such as 20 procedures to implement for keeping your staff honest when it comes to money. It shows you the need for courage -- to face your numbers and take the necessary action to address any problems you detect. Whatever business you're in, this book can help you immensely. 

Balance: The Business-Life Connection

James A. Cusumano ~ Select Books ~ Paperback:     $16.95

 

The book isn't really about work-life balance in terms of hours, attention and other tangibles. Instead, it's about having the life you want. The author shares his amazing story. He's a PhD who started as a rock star and recording artist in the 60s, became a scientist with Exxon, and worked as a film producer. Most important to small business owners, he co-founded two very different yet equally successful businesses: Catalytica, Inc., a clean energy and pharmaceutical company in Silicon Valley, and Chateau Mcely, a luxury hotel and spa near Prague.

 

Cusumano also explains what you need to do in your business to find true success and happiness. He stresses the importance of hiring the right people and staying focused on the commercial opportunity at hand. The bottom line (my takeaway from the book) is that to be an inspired leader and have balance, you must find your true passion.