As a business owner, it is important that you know how to read the financial statements in order to understand how much money is coming into your business — and when.
You should also find out how much money you are spending on expenses in order to stay in the black.
And finally, you need to be able to understand your growth rate so that you can make strategic decisions about whether or not to expand.
In this episode of Accelerate Your Business Growth with Diane Helbig, I share valuable insights into the importance of understanding cash flow, profit margins, and business growth.
Of course, revenue is important, but what I tend to focus more on is profit. There is some kind of cost to the delivery of your service or business, no matter what it is that you do. It is important to know what that cost is in order to understand your real revenue.
Did you know that you can change your relationship with money? You just have to be willing to look at it.
Listen in here to learn more and be empowered.