One of the tools that can be used to assess the performance of your business or organization is a balance sheet. A balance sheet, which should be a part of the financial model in your business plan, categorizes your assets (everything you own), your liabilities (everything you owe) and your equity…
If you want more clients and peers to reccomend your company to others, follow this simple.
Likely, you know someone that you’re more than happy to refer to other people. In fact, we might even feel some sense of an obligation…
If you can’t answer this question with hard numbers, then you don’t really know. The most successful companies have systems in place to make sure that profit is prioritized, expenses are controlled and stakeholders are regularly updated about about progress.
Here are seven ways to see how much you’re really...
Instead of showing everyone the financials, focus on the economics of the business to really engage people
Want to improve your business results and the lives of the employees who drive those results? Start with the financials, we used to say…
Assets are anything of value that your business owns. Assets are always found on your balance sheet and should be categorized by type. Everything from your computer to your inventory is considered an asset and should be recorded as such.
The easiest, most accurate way to manage and record your...
My in-laws were recently in town, and my father-in-law was lamenting the lack of progress of a farm business they’ve purchased in retirement. “It’s just non-stop spending. You get cash in and then you spend it,” he said.
You’ve probably felt the same way. Business is a never-ending cycle of...
Not keeping track of your balance sheet is one of the quickest ways to doom your business. You need to know whether you can make debt payments, if you have too much inventory, and even how much your customers owe you.
The first step to reading a balance sheet is understanding the difference between assets and liabilities…