Jack Mencini and Adam Sonnhalter cohosts of Dirty Secrets of Small Business talk about the comfort you can get if you really understand your business numbers and this can also help with forecasting the future of your small business.
If you are in a cash pinch and need to borrow money, you, the owner, really needs to know and be able to look at the health and wealth of your business in a spread sheet that you fully understand. Most owners don’t know what they don’t know. Running a company by the numbers takes you down the path of how to understand projections and profits to make a plan by using the financial statements.
You have to ask what outcomes you want after a certain amount of time to determine the level of success you are looking for and also the goals in profitability you, as the small business owner, are looking to achieve. Growing sustainable profits is attainable if you can understand the numbers and have comfort with being able to understand the financials.
If your numbers are all over the place… it doesn’t have to be that way. To find out more about why it is so important to look at these numbers and have a good solid understanding of the figures within your business, tune in to this week’s podcast on iTunes or here.
Jack and Adam also announced that Dirty Secrets of Small Business is making the move to prime time! Starting on May 3, the show will air live on Wednesdays from 7:30 pm (EST) to 8:30 pm (EST) right after Tech Talk on WINT 1330 AM. The move to Wednesday evenings has the small business coaches, as part of the station’s must-listen-to lineup with other business shows scheduled to air in the evening time slots.
Do you have any How Questions of your own to email to Jack and Adam? Do it by sending your questions to firstname.lastname@example.org or submit a question on their web site by clicking here.
If you have a success story or a question you would like to share, email or call (email@example.com or 877-849-0670). You can also call in during the show each week during April at noon (EST) – 1:00 pm on WINT 1330 AM, call 440-946-9468 to ask your question to the Maximum Value Partners’ coaches or tweet your question to @MaximumVP.