Essential money insights to master the financials of your business
Business owners, are you ready to take control of your money? Are you tired of feeling confused and guilty about your finances and ready for things to change? If you find yourself feeling unsure of where your money is going, and wanting more control over your finances, then this episode is for you.
There are seven essential money insights that small business owners need to know about money to help demystify the confusing world of business finance.
These are the seven insights that we will dive into on this week’s show:
- Cash Flow
- Profit
- Budgeting
- Taxes
- Investing
- Financial Reporting
- Emotions
It can be easy to confuse cash flow with profit and although profit is an important metric, it’s not the only one. You want to keep an eye on your gross margin, return on investment, and of course, your taxes.
Speaking of taxes, budgeting is crucial for any small business owner. With a budget, you can track expenses, prioritize spending, and forecast where you’re going to end up financially. This helps prevent making uninformed decisions that could leave you in a deficit.
Now it’s time to get COMFORTABLE with numbers and shed the shame and guilt that many people feel associated with business metrics. When you understand your finances and the money metrics that matter, you can make informed decisions that lead to financial success and peace of mind.
If you’re a small business owner who wants to master their relationship with your business finances, don’t miss this episode of She Talks Business. These insights will help you master your business finances and take control of your financial future.
What’s in This Episode
- Understanding cash flow to prevent bad spending decisions.
- Budgeting, the crucial piece to forecasting financial outcomes.
- Keeping an eye on your metrics beyond profit to have a complete understanding of the business’s financial health.
- Shedding shame and guilt around financial metrics and becoming comfortable with numbers.
What To Do Next
- Want to read more books? Join Thought Readers, my book club for business owners. It’s free to join in 2023, don’t miss out on this great opportunity to learn with like-minded peers.
- Join The Strategy Lab, Lisa’s insider entrepreneurial community that is learning, tackling, and coming together to support and challenge each other on all things business. Click here to join.
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