Hi there fellow business owners, Today, I’m sharing a quick video on the importance of understanding the difference between profit and cash flow in your business. These insights come from a recent webinar I hosted—let’s dive in. Turnover is Vanity, Profit is Sanity, and Cash Flow is Reality One of my favorite sayings in business …
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Hi there fellow business owners, Today, I want to share some insights on the importance of understanding the cash flow cycle in your business. This concept is crucial for maintaining financial health and ensuring your business runs smoothly. The Business 101 Cycle Let’s start with the Business 101 Cycle, a fundamental concept I recently …
Hi there fellow business owners, I want to share a quick video to help you improve the cash flow in your business. One of the main causes of poor cash flow relates to how and when money is spent in your business—specifically, the accounts payable process. 1. Set Spending Budgets The first thing every business …
Hi there fellow business owners, Today, I’m sharing a quick video about the importance of knowing and understanding how to read the balance sheet in your business. This is crucial for assessing your business’s financial health. What is a Balance Sheet? Also known as a statement of financial position, the balance sheet provides a snapshot …
Understanding and Improving Your Business’s Balance Sheet Read More »
Hi there fellow business owners, Today, I’m sharing a quick video about the importance of knowing the profit and loss (P&L) in your business. This is crucial for tracking your overall business performance. What is a Profit and Loss Statement? Your profit and loss statement shows all your earnings and costs over the year, providing …
Understanding Your Profit and Loss Statement: A Key to Business Valuation Read More »
Hi there fellow business owners, I want to talk about the importance of understanding the numbers in your business’s trading account. This concept is vital for assessing your business’s performance and identifying areas for improvement. Understanding the Trading Account The trading account is crucial as it tracks your sales, variable costs, and gross profit. It …
Mastering Your Trading Account: A Key to Business Profitability Read More »
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