Why Good Financial Management is Important (VERY IMPORTANT)

Recently, I read an article from Business Insider on Zimbabwe’s richest man, Strive Masiyiwa. He was asked about the seven rules for success in his business. Interesting for me was that the first reason he gave was that you need to understand your numbers. He stated that you don’t need to be an accountant for you to understand your numbers, but understanding your numbers is extremely important if you want to grow your business. And so today I want to look at Why Good Financial Management is really important for the success of your business. I’ll look at reasons why many entrepreneurs avoid keeping financial reports and setting up accounting systems and how you can go about setting up a simple accounting system.

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