Marcus Lemonis, CEO of Camping World, is the starring entrepreneur of the hit CNBC show, The Profit. If you’ve ever watched the show, you likely enjoy the entertainment value it affords as Lemonis invests his own money in small businesses that are struggling.
Lemonis goes through a vetting process before making an investment in a business. That process includes understanding the company’s people, products and processes, as well as getting a look behind the curtains at the company’s financials.
What strikes me more than anything about this process is how, more often than not, the business owners on the show are clueless about their financials.
Sometimes the owner is savvy enough to have an accountant who has put the financial statements together, however, rarely is the business owner able to flawlessly navigate their way through the statements.
One of the main reasons why understanding your company’s financials is so important is that it allows you to do one of the most important things for your business, and that is, to create a profit plan. You don’t need to become an accountant or a CPA to read a financial statement, but you do need to keep tabs on the numbers in order to run your company and achieve your profit plan.
The Minerva Group can help by showing you how to navigate your way through your financial statements.
Imagine having the ability to collect more cash each year. The secret to doing this might just be hidden in your financial statements. Uncovering those hidden treasures could help you:
- Improve your cash flow
- Borrow less
- Invest in new equipment
- Hire staff to help grow your sales
There’s really no shame in not understanding how to read a financial statement. The real missed opportunity is not doing something about it.
We are experts at helping business owners get a handle on their financial statements so they can build a profit plan that gets results. We do this by performing an in-depth financial assessment of the health of your company, using your past financials as our guide or creating financial statements based on your books.
We also help in a variety of roles – from keeping your books clean and up to date and preparing and filing your taxes, to developing and implementing a detailed, strategic blueprint for growth. We take it a step further by acting as your accountability partner, helping you achieve your profit plan for the company.
We’d welcome the opportunity to connect with you and help you get a handle on your financials. Contact us today to learn more.
