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Entrepreneurial Finance

v3.0 William S. Hettinger and John Dolan-Heitlinger

Part 1 Business Strategies

Although at times it seems that finance is a world unto itself, the truth is that understanding finance is one of the keys to operating a successful and profitable business. Finance and financial decisions are an integral part of the operations and operating strategies of a business. A business owner or manager who understands finance has at their fingertips a wealth of information about the business that can be used in many ways to help the business make money.

In the first part of this book, we introduce the key types of operating strategies that businesses use to create a competitive advantage in the marketplace. We also introduce three typical companies—a manufacturing company, a retailer, and a service business—that we’ll use as our examples throughout the book. These operating strategies and sample companies will be integrated into our discussions as we explain financial concepts and demonstrate the use of financial tools.