Key financial factors you must understand if you are going to be a successful entrepreneur. Today on Business Next!

Segment one: Chris Moersch, one of the owners of The Round Barn Winery, Brewery & Distillery, talks about the small business promotional aspects of the June 16 Lake Michigan Shore Wine Festival in Bridgeman.

Segment two: Retired CPA and long time small business advocate Paul Hense discusses key financial factors you must understand if you are going to be a successful entrepreneur. On this segment, cash flow versus profits.

Segment three: Retired CPA Paul Hense talks  about assets on your balance sheet.

Segment four: Retired CPA Paul Hense discusses the liability and equity portions of your balance sheet.

Segment five: Retired CPA Paul Hense talks about the importance of evaluating your financial situation in a cool and non-emotional manner.

Segment six: Retired CPA talks about whether or not this a good time to start a small business.

Listen Wednesday at 10 a.m., 3 p.m. and 8 p.m. on the Michigan Business Network. SBAM members can log in and listen to archived programs anytime on a PC or mobile device by going to the Business Next show page.