Recently, I’ve been thinking about time debtors. You know the type. The people that keep stacking ‘to-do’ things on their plate. Things that they’ll never actually have time to do in spite of their best intentions, or things that will take 90+ hours per week to accomplish. You’ve probably either worked with one, lived with one, or –gasp!- are one. There’s an epidemic of chronic busyness in modern society, and most of us are over-promising our time. Electronic communication has made it easier than ever to reach more people and make more asks than ever before.
If you have ever watched CNBC's "The Profit" you likely have heard serial entrepreneur Marcus Lemonis admonish business owners with those words.
While reviewing financial statements may not be your favorite thing to do, it’s important to keep a close eye on the financial drivers that can help you avoid a train wreck.
To help ensure that your business stays out of financial trouble, take the time to familiarize yourself with the following financial statements and mission critical numbers behind them.