Review financial statements each month, including the Statement of Cash Flow, to gain an intuitive sense of how decisions and business conditions impact both profit and cash. Prepare a Cash Budget for the coming year to predict possible cash … [Read more...]
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Be open to learning. Never stop. Find knowledge-building insights here.
Here you will find insights, tips and road signs to help you steer your business towards profitability, sustainability and financial strength. Raise your business instincts and gut level decision-making to new heights because in today’s business climate, there’s very little room for error and even less room for bad habits.
Sales and Profits are Great, but Don’t Overlook the Balance Sheet
Even business owners who are diligent about reviewing their Profit and Loss statement (aka P&L or Income Statement), often spend little to no time looking at their balance sheet. Their bankers, on the other hand, zero right in on it. Why do … [Read more...]
Ten Tips to Gain More Valuable Insights from Your Income Statement
As a business owner or manager, reviewing financial statements is a crucial aspect of keeping your company on track, and the Income Statement is the “go to” profitability tool for most. Still, it can be overwhelming to know where to start or what to … [Read more...]
Tips for Better Books: Keep it Real for More Profitable Decisions
Savvy business owners know that keeping accurate records is crucial to success. Sure, it's a legal requirement to have your ducks in a row come tax time, but the benefits of reliable business intel go far beyond that. Your financial statements serve … [Read more...]
Race to Profit: One Key Question Separates the Winners from the Losers
Starting a new business is like entering a race to profit. The goal is to pass breakeven and become consistently profitable before your cash reserves run out. This race has two possible outcomes: winning or losing. Winners make enough profit to keep … [Read more...]
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