Tag: Financial Management
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Do These 3 Things With Your Financials
Prepping the numbers This week, I gave a keynote to a group of franchisees outlining how to read and use their financial statements (a novel concept). It started with the idea of “mise en place.” If you’re not familiar with the thorough preparation phase before cooking, then let me give you some quick background: Mise…
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A Simple Approach to Achieving Profitability
We posted this on LinkedIn not long ago and it absolutely oversimplifies things but at its core, producing good income really does happen this way: 1) Get good bookkeeping – hire help!2) Review financials regularly – and know what they’re telling you3) Track metrics (scorecard) and cash flow4) Make adjustments based on dataThere’s a lot that goes…