Money & Your Business (Business Finance)
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Key Insights & Timestamps
- [00:54] – Welcome
- [07:00] – What are your business finances?
- [09:13] – Understanding different areas to track
- [10:00] – Cash flow in and out
- This will be your overall budget plan
- [13:53] – Revenue vs. Profit
- Often referred to as Top line and Bottom line
- [23:03] – Balance sheet
- A basic snapshot of where your business is at now
- [27:31] – Common money problems
- Not knowing your cash flow pattern
- Realizing upcoming expenses too late in the year
- Profit margin is not high enough
- [33:49] – Search your business online for an average profit margin – this will help you know if you’re on the right trajectory
- [36:54] – Good money habits
- [42:10] – Your Homework
- [45:22] – Tom’s Bookshelf
- Snapshot your business right now, run all reports and get clear on your present money moment. If you have not set up any tracking, start today!
- Once you have your snapshot, write down any questions you may have. Think about scheduling a free Discovery Call to go over financial issues and questions from your list.