S3E13: 3 Things To Do If Your Finances Don't Make Sense To You

Disclaimer: The content in this podcast is for informational and educational purposes only and does not constitute financial advice. Please consult with a financial professional to determine what may be best for your individual needs. In our latest episode of the Cash Flow Podcast, we are diving into the crucial topic of cash flow and what to do if your business finances seem like a foreign language to you.Here's a quick recap of the key takeaways: Communicate Your Business Vision: As the business owner, you have an instinctual understanding of your company's revenue flow, customer types, and operational processes. It's essential to clearly communicate this vision to your bookkeeper or accountant, ensuring they understand the language and framework through which you view your business.Identify Your Business Levers: Take the time to identify the key levers in your business—such as ad spend, employee expenses, and product/service pricing—that directly impact your financial outcomes. By articulating these levers to your financial team, they can tailor reports and analysis to align with your strategic understanding of your business.Contextual Financial Reporting: Request that your bookkeeper provides financial reports in two vital contexts. Firstly, a 12-month trailing profit and loss statement to uncover trends and patterns in your business's financial performance. Secondly, compare your actual financial results with your earlier expectations or forecasts, allowing you to evaluate the effectiveness of the levers you've set in motion. It's crucial to remember that as the business owner, you hold the key to understanding and interpreting your financial data, and it's essential that your financial team provides reports and insights that speak your language. Send us Fan MailSupport the showStay up to date with all of our Cash Flow updates by joining my mailing list: https://go.pamprior.com/stayconnected✅ Subscribe to the Cashflow Podcast with Pam Prior:🎙️ Podcast Page📺 Youtube🎧 Spotify 🍎 Apple Podcast Learn more about Pam at:  https://www.PamPrior.comWant a Free Business Blueprint Call with Pam? Click Here: https://pamprior.me/business-blueprint-call✨Follow Pam:FacebookTwitterInstagramTikTokProduced by Francis Plata & Forward Press Media: www.forwardpressmedia.com