Understanding The Numbers In Your Business

Experienced small-business owners will probably agree on one business maxim: You can only manage what you measure in your business. You should understand which numbers or ratios are critical in your business and industry and manage, monitor and adjust your business plans and models around them. For example, if your most critical number is inventory …

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A Simple Guide to Understanding Your Profit & Loss Statement

Most entrepreneurs start organizations because they are passionate about the primary work of the business — which usually isn’t accounting. This means that most entrepreneurs aren’t completely comfortable interpreting the monthly financial reports they receive. We have met hundreds of entrepreneurs who never look at their profit and loss statements because they do not understand them …

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