Most entrepreneurs don’t pay enough attention to their financial position on a regular basis for various reasons including a lack of training on how to read financial statements and as a result, they miss out on growth opportunities.
You need to be able to read financial statements in order to get the data that you need in order to make informed decisions about your business. However, this is often difficult because financial statements can be dense and confusing.
This post and podcast episode will provide you with step-by-step instructions on how to find and interpret the financial insights that really drive growth. You will learn how to get the right level of detail in your bookkeeping, how to hire an external bookkeeper, and what you should check for in your books. With this information, you will be able to grow your business without missing out on any important data.
Rob te Braake is an entrepreneur and founder of Insight Matters, which provides financial reporting & analysis to small & mid-sized consultancies and agencies because they deserve the same insights as corporate CEOs.
Rob started his career in the corporate world full of management meetings and delegated responsibilities. He quickly shifted to entrepreneurship, but after running several ventures across the globe, he realized he had the skills to better serve small entrepreneurs.
In this episode, he shares how we can find and interpret powerful financial insights that drive growth.
Some topics we discussed include:
- Numbers are the sexy side of the business and how to read financial statements
- Why most entrepreneurs don’t pay enough attention to their finances
- How to read financial statements to get the data that you need
- The data that business owners often miss out
- Getting the right level of detail in bookkeeping
- Why business owners should not be doing the books
- Important things that business owners should check in their books
- How to hire an external bookkeeper that knows how to ask questions
- The growth of your business relies on the way you handle bookkeeping
- How to read financial statements and analyze your revenue before bringing in new costs to your business
- It’s okay to be ambitious but always plan for the worst-case scenario
- How your staff cost ratio impacts your business’ revenue
- Why prioritize cash flow over your revenue and profit
- and much much more …
Listen to the episode
Related links and resources
- Check out Insight Matters
- Learn more with Ajit Ghuman – SaaS Pricing Models: A Guide to Crafting the Right SaaS Pricing Strategies
- Learn from Santi Bibiloni- How Project Profitability Works to Drive Fast Business Growth
- Check out the article – 20+ Powerful Marketing Strategies You Should Copy to Grow Your Company Fast
- Learn from Cary Richards – How to Drive Growth With a Product Bundling Strategy
- Listen to my interview with Paul Klein – How to Use a Price Positioning Strategy to Grow Your Business
- Listen to my interview with Tom Williams – What is B2B Sales and How to Create a Successful Sales Process
- Learn from Henry Daas – How to go About Scaling Your Business: 7 Critical Elements to Drive Growth
Connect with Rob
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