All three are important although different people value them differently. Income statement shows your performance per action via matching principle. Balance sheet gives your current GPA which is a functions of your assets and liabilities. Cash flow statement illustrates your actual physical cash flows. Again, all three are important for monitoring your company's health.
How to write an executive summary: in short, be compelling, concise and to-the-point. Give them at least 1 reason to invite you for a follow-up meeting. Oh, also avoid BS because your audience (e.g. investors) see that every day already and are immune to it.
Why entrepreneurs don't scale: very insightful article. Loyalty to comrades, task orientation, single-mindedness and working-in-isolation are very-often-encountered characteristics of fledgling CEOs. They are all very difficult to avoid. But the most difficult one for me would be the first one, loyalty to comrades. The example there was illustrative. But when it comes to implementing what was suggested in the article.... That's a different story. I would find it hard to sacrifice friends for the well-being of the company.
A few good principles: 2 insightful points extracted:
- Outline the essence of your business to your employees so that they can take meaningful decisions on their own (assuming they are problem solvers) and will not have to rely on you for everything.
-Making mistakes is great so long as your learn from it. Let your employees be bold and make mistakes (do not let them repeat the same mistakes though!).
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