Recently, I visited a university class in entrepreneurial finance that is using my book, Finance for Non-Financial Managers, as their course textbook. The students asked me a great question: What is the biggest financial mistake entrepreneurs and executives make when running their businesses? I've spent the past two decades helping business owners and executives improve the financial management of their firms, so it didn't take long for me to answer. "Not understanding the impact of the business cash flow cycle," I replied.
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