116: Finances 101 of Profit & Loss As a Business Owner with Christina Springstead

Jan 19

Financial Profit & Loss

Finances don’t have to be an overwhelming topic! That is exactly what we are talking about today! Are you a business owner? Thinking of owning a business? Do you have an understanding of how your business cash flow works? Well on today’s podcast episode, it is JAM packed with so much information for a business owner and the importance of knowing the finances and that the financial foundation has to be solid to allow you to be successful and grow your business. So, don’t be part of the 50% of businesses that go out of business, take the step to understand your finances and today’s podcast can help you take that first step!

“…you want to make sure your business is serving the life you want to live and that not that you're not serving a business that has no direction…. You have to take control … so that it is serving you…”

A FEW KEY POINTS:

Take the time and sit down to evaluate it with the team that will help serve you and where you and your business is going. There are 3 core components of a financial team you want to strive to have:

Bookkeeper- managing financial transactions, categorization focused

Financial accountant- strategy consults, make decisions, ask the right questions where you need to recognize trends to help make decisions

Tax preparer - end of year what you owe uncle sam- should NOT be “im just not going to pay Uncle Sam”

BE invested in your finances with you business. FOUNDATIONAL PIECE of business. You have to make time for all the things important and time blocking to run reports and spend time with you money-> you will learn about yourself and your business and if will help you make better decisions.

YOU CAN rEACH CHRISTINA here

Tune in to hear all about it! (Links to the episode below)

See You next week for a new episode!

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To dive deeper listen to the full episode

on your favorite podcast streamer.

-> Apple

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