Many times this is the most challenging for entrepreneurs. You are very good at the operational aspect of your business but may not have a handle on your finances.
This typically breaks down into:
Costs – Do I know what my costs are and am I keeping up with changes to these costs
Overhead – Do I know what my fixed and variable overhead costs are
Pricing – Am I charging correctly for ALL products and services and most importantly am I getting paid in a timely manner
Accounting system – Am I using it properly and efficiently
Is it time to get professional help – As your business grows there is a natural progression in professional financial help: step 1 owner, step 2 bookkeeper, step 3 accountant, step 4 CPA, Step 5 CFO
Credit and debt – I will review your existing debt to determine if there are opportunities to pay off faster or restructure to more favorable terms
