Business Financials Episodes
These episodes of The How of Business podcast are on the topic of Small Business Financials – the financial control and reporting systems which are critical to managing and growing your small business.
The challenge, however, is that most small business owner don’t have the background or skills to understand their financials. That’s OK! You are not alone. Your responsibility is to learn enough about small business financials so that you can make informed decisions to help you grow your business.
From understanding how to interpret your financials statements, including your Profit & Loss (P&L) statement, Balance Sheet, and Cash Flow Statement, to using the information to help you measure and plan for growth, these episodes will help you develop your knowledge and skills in this important area.
Many small business owners have surrendered their control or knowledge of their financials. Often the reason may be that “I am not good with numbers!” or “I leave all that to my CPA at the end of the year.” The result is a business that is navigating blind! As the owner and CEO of your business you must have a strong understanding of your financial condition.
This does not mean, however, that you should not delegate the transactional tasks associated with maintaining and producing your financial statements. Tasks such as bookkeeping, processing payroll and preparation of your tax filings are ideally delegated or outsourced when you are ready to do so.
The ultimate responsibility for organized and up-to-date financials, and the interpretation of your financials, always remains with you as the owner of the business.
The How of Business podcast, hosted by Henry Lopez, is focused on helping you start, run and grow your small business.