Ep27: 5 Tips on Reviewing Financial Statements for Small Business Owners

Financial statement review is an important task of a business owner but sometimes it is challenging to do it on a consistent basis when you don’t know what you should be looking at or reviewing. In this episode I am sharing five tips to help business owners review their financial statements consistently and understand what the numbers are saying about their business. Key points: Reviewing income statements in a month by month view Comparing performance to goals and targets Identify financial ratios that are important to your business Review balance sheet in comparison to previous period What do look at in your cash flow statement Mentions: FB/IG - @thebessentials Financial Ratios - https://www.netsuite.com/portal/resource/articles/financial-management/small-business-financial-ratios.shtml Understanding Your Financial Statement Course - https://thebessentials.teachable.com/p/understanding-your-financial-statements

Om Podcasten

Viola Welang is a champion for small business success and this podcast is dedicated to providing you with the foundation of what you need to create and run a successful business. As a business strategist Viola helps businesses exceed their goals. Her clients triple their revenue, increase their bottom line by up to 60%, improve productivity through efficient systems and ultimately have a better work-life balance. Her experience spans different industries including - information technology, AV, environmental waste construction, design, business services, government contracting, ecommerce, retail and non-profits. The entrepreneurial journal is so rewarding, however it can also be challenging and overwhelming; it doesn’t have to be like that and I want to help you achieve your vision without the headache. In this podcast I will give you the scoop on creating a solid foundation to run and scale your business; welcome the business essentials.