Only 1 in 5 businesses survive for 3 years; only 4% (1 in 25) of those grow to have revenues of $1 million or more. The odds of success are slim, yet the allure of starting and scaling a profitable company is greater than the fear of failure. 

Why are the odds so long? Most business owners know their industry and are experts in their field – but very few know the business of running a business. While much is intuitive, financial management is not. There are illogical accounting rules and very few resources available to guide good financial decision-making.

In this workshop, business owners will learn how to avoid some of the most common financial mistakes. The audience will both laugh and cry as the presenter describes some of the stupid decisions she made while growing her companies to almost $100 million in revenue each. Everyone will relate (as most have done some of these things)!

Important take aways will include:

– Learning which customers are profitable and which are not – and what to do about the unprofitable ones.
– Analyzing metrics to determine future cash flow (or shortfalls) so appropriate action can be taken in a timely manner.
– Leveraging your resources to create a more sustainable revenue stream.
– Understanding your pricing policies and how they fit your business model.
– Building equity and wealth by identifying anomalies and then correcting course.

Financial statements are designed by the accounting industry to help accountants do their jobs by putting all business models on the same platform. They are NOT designed to help business owners make business decisions – just record transactions. No wonder it’s so difficult to understand your financials! 

In this workshop, you will learn to simplify your financials and transform your multi-page QuickBooks income statement into a ten-line P&L. With this new financial statement, you’ll recognize your revenue trends and your unnecessary expenses – you’ll have a better understanding of your numbers and make better decisions – improving your company’s profitability. 

With your Management Financial Statements developed in this workshop, you will know:
– How to build a simple financial statement from your QuickBooks (or other accounting software) that will help you manage your business.
– How to use these Management Financial Statements to make better business decisions based on your revenue streams, trends, and financial ratios.
– How to understand what your financial statements are saying about your company and your management.
– Which of your customers are the most profitable and which are costing you money and time.
– Which of your employees are working efficiently, which are headed toward burnout, and when to hire more team members.