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Business By Design
Business by Design is the podcast for owners who want to start, scale or exit a business. Each week, Stuart Wemyss and Mena Abraham unpack the four things every business must get right: value, engine, reach and team. Using the VERT flywheel, they show how these fit together to build a business that runs without you, and how the choices you make inside the business flow through to your personal wealth, lifestyle and exit options. Every episode is short and to the point, with no fluff and no sales pitches. Go to https://www.vertflywheel.com
Business By Design
Ep 61: How to read a set of financial statements
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In this episode, Stuart and Mena share tips on how to read a set of financial statements.
- Familiarise yourself with the 2 to 3 main statements being a profit and loss, balance sheet, trading statements.
- Profit and loss will give you an insight into the cost structure and profitability of the business.
- The balance sheet tells you about the health of the business.
- Cash flow consideration – focus on operating cash flow.
- Calculate key financial ratios and compare periods and look for warning signs such as declining revenue, increasing debt levels, or inconsistent cash flow. Consider industry benchmarks.
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Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
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IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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