Dawn Fotopulos - Accounting for the Numberphobic. A Survival Guide for Small Business Owners

ACCOUNTING FOR THE NUMBERPHOBIC

Accounting for
the Numberphobic

A Survival Guide for Small Business Owners

DAWN FOTOPULOS

American Management Association

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Library of Congress Cataloging-in-Publication Data

Fotopulos, Dawn.

Accounting for the numberphobic : a survival guide for small business owners / Dawn Fotopulos.

pages cm

Includes bibliographical references and index.

ISBN-13: 978-0-8144-3432-1

ISBN-10: 0-8144-3432-0

1. Small businessManagement. 2. Small businessAccounting. 3. Managerial accounting. I. Title.

HD62.7.F67 2014

657'.9042dc23 2014003376

2015 Dawn Fotopulos.

All rights reserved.

Printed in the United States of America.

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Printing number

10 9 8 7 6 5 4 3 2 1

To Katherine, who always found an encouraging word for the struggling

By Edwards Fields

Now I know for every book that is published, there is a silent army who helped give it life.

Frances Pelzman Liscio, you are the quintessential Renaissance woman and without you, this book would never have seen the light of day. You were the catalyst who set this book in motion. To a network of wonderful women I was lucky enough to be introduced toLiza Dawson, Debbie Englander, Christina Parisi: thank you for helping me find my way to AMACOM.

To Senior Acquisitions Editor Bob Nirkind: Bob, thank you for believing in this project and for being so faithful to its completion. You wrestled mightily with each chapter and improved the book no end. Your patience and insights were a once-in-a-lifetime gift to a new author.

Dear Debbie Posner, my copyeditor, thank you for holding me to the highest standard. Knowing you has made me a better thinker, writer, and teacher. Your meticulous attention to detail and appetite for just a little mischief made a good book sing. You also made a grueling process a pleasure.

Mike Sivilli and the entire production team, thank you for your commitment and creativity in transforming this manuscript into a book thats ready for prime time.

Ron Bucalo, your illustrations are pure genius. They gave a dry topic a personality that invites the reader to understand so much more. No one can remain phobic while theyre laughing. It is a joy working with a pro.

Dr. Lynne Rosansky, thank you for confirming that my mission is to teach financial literacy to the small business community and to Carole Hyatt for introducing us. My thanks to Susan RoAne, my book doula, and to Allison Armerding, who helped craft the proposal that was accepted against all odds.

To my Assistant Provost, Ina Kumi, thank you for the encouragement to keep plowing the land when the rocks were heavy and my arms were weak. To Dr. Anthony Bradley, thank you for poking me in the ribs for five years to get off the mark. Jacqueline Grey, thank you for keeping me vertical through one of the toughest 15-week slogs of my professional life. Valerie Coleman Morris, thank you for always reminding me to just breathe and for your unwavering faith I had something important to offer the world.

Jody Wood, your support during the early days of seminars on Accounting for the Numberphobic was a treasure. You told me to pay attention and I have. To Victoria Aviles, Gerta Hagen, Enid Karpeh, Nina Kaufman, Alexandra Preate, Laura Reddy, and Mike Zumchak, youve been true believers from the beginning and rabid fans. Its mutual.

To my cheering squad Lourine Clark, Philip Clements, Lucy De-Vismes, Marsha Heisler, Joanne Highly, Marleny Hucks, Roz Kroney, Monika Muller, Carla Rood, Anna Roundtree, and Michelle Turner. Your prayers sustained me on this unchartered journey.

Thank you Jane Applegate, CEO of the Applegate Group; Larry Janesky, CEO of Basement Systems; and April Vergara, SVP of HSBC Bank. You are proof integrity and perseverance wins in a competitive world.

A special thanks to you, Norm Brodsky, for investing so much time to provide your searing insights. This book is much richer because of them.

Lee and Allie Hanley, your generosity of spirit is world-class. Its an honor to know you and to co-labor with you. You will always have my heartfelt gratitude.

To my beloved students of The Kings College and the hundreds of participants Ive had the privilege to coach through the Kauffman FastTrac Program at the Levin Institute in New York City, you are the inspiration hidden in these pages.

To God, who used the trial of a broken ankle to keep me focused on completing this manuscript in record time, thank you.

Thank you to my parents, Bill and Christine, who lived the mountaintop and valley experiences of Bedazzled so many years ago before I understood all this. I would have failed without you.

Most of all, thank you, dear reader, for picking up this book. May you finally grasp the success youve always known was waiting for you.

When I say the words financial statements, what goes through your mind? Cmon, be honest. Take a minute and write down your unscreened thoughts. It is okay if four-letter epithets come to mind. No one will see this but you.

Here are some comments written over the years by attendees of my workshop I Hate Numbers: Accounting for the Numberphobic: