There are various reasons you should want to invest in money management skills for your business, and it all boils down to how profitable you want your business to be. When you are the owner of your business, it’s tough to manage all the tasks you need to excel at — sales, marketing, messaging and the list goes on. But the priority that needs to be right up there with sales is money management in your business. Did you know that 82% of businesses fail due to money mismanagement? And most business owners fail at money management because of a … Continued

To better understand what traits link the best businesses, researchers identified 56 companies that rank highly in leadership, financial performance and people management. Those companies included FedEx, Coca-Cola, Target and American Express. The study’s authors then surveyed 76 executives at 27 of those companies to learn how their businesses are run. High-performing organizations Create a culture of rigor and standards for financial stability. Require process around fiscal management, oversight and decision-making. Execute strategies in an operationally efficient manner. Align organizational structure to support business strategy. Create and maintain a culture of accountability. There is a strong customer focus. Successful companies … Continued