Mar 2021
12m 44s
Today we are talking about report cards. If you have a child in school…or maybe they are distance learning, you know you need to keep tabs on how they are doing, right? Well, when you own a business, it’s a lot like having a child. How many times have you heard someone refer to their business as their “baby”? I hear it a lot, and yet, when we think about how that baby is doing, there are a lot of business owners who don’t even look at their baby’s report card. Are you asking, “What report card?” If you knew your business had a report card, would you be looking at it on a consistent basis? Sure, you would. What if I told you there is a report card you can look at that gives you an enormous amount of information about how your business – or “baby” is doing. That report card…well, it’s your financial statements. There are two reports that I strongly recommend you take a look at…even if it is just once a month. If you are using a software like QuickBooks to record your bookkeeping, it is easy to pull up these reports. In today’s episode, I am going to walk you through the first of these two reports and what it is actually telling you about your business. Is your business getting straight A’s, or is it consistently getting Ds or even worse, Fs? If you are not looking at these reports, you will more than likely not know if you are in the A range or the F range, and without this information…are you able to make good business decisions? Not really. Are you a solopreneur, entrepreneur, small business owner, bookkeeper or virtual assistant? If so, listen in and find out how you can learn more about how your “baby” is doing by understanding how to read and measure your financial statements…
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