Jesse Mecham founded You Need a Budget (YNAB), a software application that helps you track what you spend and keep you and your finances honest with each other. But YNAB isn’t just a piece of software, it’s an approach and way of thinking about your money. And, it applies more to people who make above average incomes where overspending is a well-greased wheel.
Jesse took what he learned from YNAB and wrote a book that covers the same approach but for businesses. PACE stands for Prioritize (cash on hand), Anticipate (big expenses), Change (as needed), Establish (a buffer of cash).
Even if you think you know everything about business finances, you should read this book. It’s not a scheme, it’s a plain and simple way of thinking about your revenue and expenses.