The cover of this book shows the journey I’ve been on, with this book in hand at times. I first picked up this book last summer as an alternative resource for learning techniques on business valuation. In case you don’t know, I am an entrepreneur. Since 2014 I have been on the journey of building a firm, Polyphonic llc. Polyphonic llc. is to be a consumer brands, and digital products firm.
My portfolio includes dailyRoller, and loopGroop. Both products, and brands are in ongoing development. The function of finance, is as, a vital organ in a startup’s body. As an entrepreneur I believe that it is important to be able to understand, and communicate the 360 degrees of a for profit venture. I would say the same of both a b- corp., and non-profit venture, too. Harvard Business Essentials, Finance for Managers is meant to serve as a resource in decision- making.
What the composers of this volume of the Harvard Business Essentials have provided is a brief scathing of financial concepts, and analytical tools. I am fortunate enough to have taken an introductory finance course at Indiana University- Bloomington’s Kelley School of Business, this semester. From the time I first picked up this book to completion I have used the text, at times, as a supplement to my finance course, and also as a learning tool during the development phases of dailyRoller & loopGroop.
Whether you’re just an individual looking to improve your approach to personal finance, or an entrepreneur just starting to get your hands dirty in business functions, the Harvard Business Essentials, Finance for Managers text will do you well. Are you familiar with the concept “time value of money”? If not, Chapter 9 does well at introducing you to the concept. You’ll learn how to use net present value in order to discount cash flows of capital expenditures. You will also learn what “discounting cash flow means”.
I enjoyed Harvard Business Essentials, Finance for Managers use of a fictitious hat- rack manufacturer case study. This case study helps to reiterate, and illuminate concepts being introduced. The use of case study is similar to how finance was taught in the intro course I took. Harvard Business Essentials, Finance for Managers also makes use of graphs, and chart, to help further illuminate the mechanical-effects of the analysis technique being discussed. In all, HBE’s Finance for Managers was an enjoyably, informative book that I’d recommend to a friend.