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How would you like to someday retire from your business? That is someday build a business that affords you the time and money to enjoy the people and things you like to do outside business? I often talk to entrepreneurs and even though this is something they want, they never take the time to plan for it. They somehow hope that someday they will wake up and have a business

Welcome to understanding your finances part two. In part one we talk about the six basic things you need to know. Now we talk about how to organize this information so we can easily see what's happened in your business at any given time. If you have the watch part one, I do recommend you go back and see it. To understand how to organize the six things you need

Welcome to the basics of understanding your financial. To help you understand your financials, I'm going to use George as an example. George wants to start a real estate business. Well, how does George move towards financial freedom?Knowing your numbers could be the difference between where you are right now and where you want to go. There are six basic things you need to know to understand your financials.

So now we've talked about the planning, the budgeting, solid bookkeeping, and now that we have all that in place, the next step is to get the information we need from the system. So, the question becomes, "What do you need?" And the answer depends on the kind of business you have. Well, for the cleaning business that I have, as an example, what they'll need is, they will need

And so far, we've talked about creating the plan, creating the budget, the next thing you want to do is enter the budget into your financial software. So, I'm using QuickBooks for an example, but it doesn't have to be QuickBooks. So, you enter your budget and the first thing you want to do before you enter the budget is clear the create a chart or account that matches the

So now that we know what we need, how do we get that information? Well, to get the information you need from your accounting system, you have to start with a plan, how can you get what you want when you don't even know how you're going to get it. You need to say, "This is exactly what I need. So here is my plan to get there." Starting with