So, does this include documenting, evaluating, and managing your finances month-by-month, or just when tax returns are due? Did you miss out on, or spend days preparing for, the loans, grants, and other financial assistance available throughout the Covid-19 business disruption due to incomplete or non-existent financial reports?
As a business owner, I’m in business to make money (in addition to changing the world and leaving a legacy). What I learned from my friend and guest Marsha Lindquist, President of Granite Leadership Strategies, is that we may not really be making money if we are not regularly on top of our finances beyond income from sales.
In our interview on Think About It, we discuss the types of financial records we need to review monthly to make informed decisions about the health of our businesses; pricing considerations for our products and services; and why business owners should be taking a regular salary from their own companies. If you are a leader in an organization rather than the business founder or owner, we discussed the importance of still being knowledgeable about the finances of the organization you work for, and resources to help us learn more about our money and what’s happening to it.
You owe it to yourself and your business – financial pun intended – to watch this conversation. Click Below to watch this episode of Think About It.