They say that less is more, so this episode of Business By The Books goes back to basics to help business owners understand their financials. CEO of Kickstart Accounting Inc. Danielle Hayden sits down with Lead Account Manager Kelsey to discuss three important metrics every business owner should know. They break down how to calculate and analyze these fundamental metrics, and how to leverage these metrics to make strategic decisions for your business financials.
If you're overwhelmed by the financial side of your business, this simple approach will bring clarity and confidence to your numbers. Tune in now!
Key Takeaways:
Discover the three key numbers every business owner should know, how to calculate them, and what they reveal about the health of your business.
Understand how regularly tracking these three metrics will guide you in making informed business decisions and help you identify trends that can boost profitability and sustainability.
Learn the common mistakes business owners make when reviewing these metrics and how to avoid them.
Get tips on using these numbers to confidently manage cash flow, plan for future growth, and ensure your business's long-term success.
Topics Discussed:
Why simple is better in business (0:38)
The three numbers every business owner needs to know (2:58)
How to calculate and analyze the first key metric (4:13)
Using the second metric to assess profitability (9:59)
How to accurately track and leverage the third metric (15:18)
The role of business owners in tracking numbers and financial trends (20:07)
Common mistakes business owners make when reviewing metrics (22:32)
How these three numbers can transform your business (24:01)
This week's homework: Actionable steps to take control of your business (24:40)
Resources:
Listen to episode 145: Don't Set Goals This Year – Do THIS Instead! - https://kickstartaccountinginc.com/dont-set-goals-this-year-do-this-instead-ep-145/
Download the Kickstart Accounting Inc. worksheet to track these numbers in your business:
https://kickstartaccountinginc.com/3numbers
Connect with Kickstart Accounting Inc.:
Instagram | https://www.instagram.com/Kickstartaccounting
