Do you know your financials
Ok you will likely have heard the phrase Cash is King…. But I am here to tell you whilst it is extremely important it is not the only thing you need to know when it comes to the financials within your business.
I have worked with 3 business owners in the last quarter who were all running their business based simply on cash in the bank. Whilst it’s not the worst thing in the world to do, there are more key financials that you need to be aware of than just the cash in the bank.
As a business owner, understanding your finances is crucial to the success of your business. Knowing the key financials will enable you to make informed decisions, avoid financial pitfalls, and plan for the future. Here are some of the key financials that you should be familiar with: