Build your business on a solid foundation so your enterprise can achieve the greatest profitability possible! Join with other business owners at ourGrowthCLUB 90 day Planning Sessionto learn strategies to solidify your business foundation!
Three key elements you have to have in place that will establish a solid business foundation - Financial Measures:
1. First of all you have to know your break even. Understand your expenses, so you know what it costs to keep your doors open.
2. Understand your profit/loss- your income statement. You have to know and measure regularly. . . know what your assets are and your liabilities are and be able to track that monthly, so you can see your profit increase.
3. Begin to understand your cash flow. Understand how cash moves through your system, so you can predict and not get behind the eight ball. Make sure you avoid any issues before they arise.
These are the three key elements that will help you create a solid foundation in your business. So that with a foundation in place you can build a structure of business that does not not fall apart or fall down!