The real reason to review financial reports.

Financial statements show the financial performance of your business. There a numerous reports which can be reviewed to assess how well your business has performed.

But there are many, many business owners who do not look at the financial reports, and if they do, they don’t understand them.

So, what's the REAL reason to check your financial reports?

In my opinion, it’s this: To see if you're wasting your time.

It allows you to answer the question, "Are you any better off for doing all this?"

I really wanted it to be a better reason.

More complicated.

Perhaps, more noble.

Something like, "To make better decisions."

Or, even something more wanky like, "To improve the outcomes for stakeholders."

But it's not.

At its core, it's pretty bloody simple.

The reason to check your financials is to see if you're wasting your time.

Your financial statements will tell you.

And then the related question, "Are you going broke?"

They'll answer that question too.

Then, depending on the answers to those two fundamental questions, the world of financial understanding awaits.

There is so much information in your financials which can bring insights into the way you run your business, how you deal with customers, how to make more money, how to improve, how to advance.

But all this comes later.

The first step is to answer that first question.

Then give me a call to discuss.

Peter