The Complete Guide to Your Business’s Financial Foundation
Getting Your Financials To Work For You
It doesn’t matter how long you’ve been in business or how profitable you are, if you don’t have your Financial Foundation set you are not maximizing your potential.
Can you spend just 15 minutes each morning reviewing your financials and move confidently making the strongest decisions for your business throughout the day?
Most entrepreneurs our Accounting Advisors talk to say no, they can’t. And then follow up with, “Wait, how can I do that?” The answer is, set up your Financial Foundation so you can bring clarity, confidence and control to your financial business decisions and be set up for success.
Getting your financials to work for you, instead of you working for them, just takes the know-how to get your foundation set so you can truly begin walking in the direction of your goals.
Let this guide and our downloadable Roadmap get you started.
Download Your 10-Step Roadmap To Strengthening Your Financial Foundation
If you want to head confidently to your business’s true north, strengthening your Financial Foundation is a must. Download our 10-Step Roadmap to get started.
A Strong Business Financial Foundation Equals Higher Profits
Just like building a house, you don’t start by completing the third floor. You start with building a strong foundation that everything else can confidently be built upon. Let this series of articles walk you through the Financial Foundation Roadmap one step at a time. Once strengthened, your confidence and your profitability will grow.
Transition to Real-Time Accounting
It’s easy to fall into the habit of only dealing with your accounting and financials at the end of the month or when something goes wrong. A more proactive way to manage your business finances, however, is with real-time accounting. Real-time accounting provides day-to-day optics so you always understand your company’s finances. By getting better insight into your accounting, you are able to spot opportunities and overcome shortfalls.
Set Up Your Reports
With the right real-time bank accounts in place, reviewing your business finances should only take a few minutes each day. Setting up universal accounting reports and learning how to use them will help you identify trends faster and drive profits. Rather than using a reactive approach to finances, creating and using these reports will give you a proactive plan to benefit your business in the long run.
Start Reviewing Weekly (not monthly or less)
It’s well worth it to ready your business to have the financial information you need at your fingertips. In fact, by using the right small business accounting setup, you can learn everything you need to know about your financials in just 15 minutes a day. By reviewing your finances frequently, you’ll get to a place where you can make financial decisions in real-time and have 100% financial confidence in everything you do.
Set Your Financial Expectations and Stick to Them
A good, solid financial plan is at the heart of every successful business. Every business owner faces the day-to-day peaks and valleys of operating a business, and they can be jarring! But, with the right financial expectations and intentions in place, regardless of whether you have a great month or a not-so-great month, you’ll be confident that your business is financially sound.
Use Data to Make Marketing Decisions
No entrepreneur wants to feel trapped in a business that’s too big or too small. Whether you’ve grown too fast and are bogged down by debt, or you’ve grown in a way that’s made you responsible for too many tasks, building the right-sized business is what will make you feel truly successful. No matter the scenario, your data is the key to finding the best formula for your company.
Download Your 10-Step Roadmap To Strengthening Your Financial Foundation
If you want to head confidently to your business’s true north, setting up your Financial Foundation is a must. Download our 10-Step Roadmap to get started.