Esther Williams’ passion for diving and synchronized swimming allowed her to carve out a unique position as a leading lady in Hollywood. Yet, her immense success was curtailed when her accountant admitted he had been stealing from her for years and that she was penniless. The embezzlement occurred because she never looked at her bank statements or asked for an accounting. The sad ending of Esther Williams’ successful career is a cautionary tale to all women to be actively involved in all aspects of their finances.
How many times have you opened Quickbooks only to find that the balance didn’t match your bank account?
If you closed the program and vowed to deal with the discrepancy another day, you fall into the category of people who ignore their finances, something that can be dangerous for women business owners. If the behavior above sounds like your approach to money, then you might very well be on the road to succumbing to the same fate as Esther Williams.
Instead, make sure that you are aware of your business’ finances and don’t let discrepancies go unresolved. Over the years, I have helped numerous clients pursue claims of fraud, conversion, and other causes of action against their own business partners for stealing money.
Dana M. Heyde is a contributing blogger for NAWBO-OC. Please read the rest of her blog here.