Most people who go into business don’t understand how the money flows.
And my guest on this episode says getting to the perfect P&L Statement (profit and loss) is what will drive your decisions to build a profitable business.
Understanding how to run an efficient and profitable business is what Adam does. Hint: it’s not about reducing your taxes!
Adam says, first and foremost, you must understand how your business works. Because while you can outsource a LOT in your business, you can’t ever outsource how to make good decisions.
Adam helps service-based businesses build the business they want. And keep their hard-earned money with creative financial strategy and clarity. He says the biggest secret is all about understanding the flow.
In this episode, we take a deep dive into the concept of the perfect P&L statement. And how you can make sure your business generates healthy profits and leaves room to earn even more money.
- Adam’s backstory and how he helps professional service providers
- Find out some early mistakes (he doesn’t like this word) that Adam sees most entrepreneurs make
- Why making business decisions upfront based on fear of taxes doesn’t make sense
- Listen in as Adam breaks down the concept of the perfect P&L statement
- 3 key drivers to look for in the perfect P&L
- Learn what Adam says you can and can’t outsource in your business
- What’s the true role of a bookkeeper or accountant
- The review-preview process for business decisions and using the perfect P&L as the scorecard
- Adam asks the tough question, are you really happy with how much you’re earning?
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