“I don’t want you to be an accountant, but I do want you to understand what’s going on in your business finances so that you make profitable decisions for your business.”
— Melissa Houston
82% of businesses fail due to financial mismanagement. It’s a scary statistic, and the best thing that you can do to protect yourself and your business is to track, know, and understand your numbers — and use that information to make profitable business decisions geared toward helping you reach your goals.
This is going to be my last podcast episode for a few months, as I focus on working with my clients and writing my book, so I want to leave you with some practical, actionable advice that you can implement during my hiatus.
In this episode, I share my top 5 tips to help you set up your business for success and make more profitable decisions. Press play to get the inside scoop on how to analyze your profit margins, use your monthly numbers to correct issues or capitalize on successes, and keep your cash flowing!
In this episode, you’ll discover:
- Why your profit is directly tied to how well you understand your business finances
- How your money mindset blocks impact the way that you run your business — and the way that you interact with money generally
- Why you’re officially allowed to dream BIG (and I highly encourage you to do so!)
Highlights:
01:04 Intro & upcoming break
04:12 Know your business numbers
05:38 Know your relationship with money
07:58 Have a financial plan
10:31 Monitor your cash flow
12:37 Enjoy the journey
13:18 Learn from your mistakes
Links:
The Business Society: https://thebusinesssociety.co
5-Step Roadmap to Biz Finance Freedom: https://melissahoustoncpa.lpages.co/5-step-biz-finance-roadmap
Work with me: https://www.melissahoustoncpa.com/work-with-me
Want more tips and inspiration?
Follow me on Twitter @melissahcpa and Pinterest @melissahoustoncpacga
and visit my website: https://www.melissahoustoncpa.com
Need a Fractional CFO? Check out The Fractional CFO Agency!
