Running the day-to-day operations of a small business leaves little room to fit anything else into your schedule. Sometimes these other things are still incredibly important to the success of your business, such as marketing, customer outreach, and handling your business’s finances. The last one ALWAYS seems to scare off certain people, but I’m here to tell you that it shouldn’t. In order to have a successful business, you need to have a complete understanding of your numbers at all times. As Marcus Lemonis from CNBC’s “The Profit” always says, “You need to know your numbers.”
The financial data that your business is gathering and creating on a consistent basis determines the health of what you’ve built. Are you losing cash? Do you have enough to cover payroll this month? Have you collected your sales tax? How many customers still owe you money for work or products you’ve sold them? You can still be relatively successful by not knowing the answer to all of these questions, but you will never grow, never expand.
Luckily, I’ve been able to build a very simple yet powerful model that any business owner can use to get a handle on some very basic numbers in their business. This file will allow you to do two things: Forecast your business’s growth and identify your operating costs.
Follow the link below and you can view and download this Excel file to play around and use for your business today!
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