Many business professionals make an innocent mistake early on in their careers or ventures that ends up costing them dearly in the long run. Though the worlds of business (and particularly those of entrepreneurship and business ownership) can include numerous pitfalls, one particular type of mistake can be very difficult to undo and can potentially cause permanent damage to your career, your business, and even your personal financial security: financial management without an expert.

Trying to do your own financial management if you aren’t a financial professional is similar to trying to perform engine maintenance on your vehicle. You might get it right for a time, but at some point something will go wrong — and you may pay a heavy price for it.…