Today’s episode is all about reports. Often, I get questions like what reports should I pull out to see how the business is doing, how to read the financial reports, as small business owner, what are the best reports to review and etc.
Many business owners see success as the direct result of a strong work ethic and good marketing plan, but we know the real secret: it’s all in the accounting! (Well, at least that is what I like to think so) Good accounting sustains a business, and provides data that will help the owner make the smartest decisions about where to go next.
In order to make smart decisions, small business owners need to review reports. There are many different reports that describe the financial health of the business but the key reports that drive the decision making at any stage of the business are the balance sheet, profit & loss and cashflow report.
If you are someone who just started your business or in the business for a few years and still have no clue on what reports to look at? This is definitely the episode for you.
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