Got a hand on your Business Financials?
There is little difference between what tasks must be completed in a business with just the owner employed or 100 people employed! The following must be understood: Marketing, Financial, Operations, & Communications. Just opening the business, isn’t enough! Do more! Receive more! Be more!
Do you have a hand on your “Financials”? Do you know your company’s financial position today? Financial data will help tell you what your company owns, what it owes, and how much money it has earned and spent. You should understand “the Income Statement, the Balance Sheet, and the Cashflow Statement”. These will help you analyze your company’s financial strength and provide a “brief” of your company’s health and value at any given period. A company’s financial health can change daily as income is earned and expenses are paid. Understanding how to interpret these “credits and debits” is important. A little understanding can go a long way!
Next week’s Blog Brief will focus on the “Operations” of a business!
If you are looking for a PRO, visit PROfinders.ca. It is FREE to browse. If you are a PRO, become a member at PROfinders.ca. Presently, it is FREE to join. Contact one of the PROs on our PROfinders.ca website. Set yourself up for success!