September 1, 2014 in Articles
Do you have the “what if” scenarios in mind when thinking about the next steps for the financial direction of your business? Is it time to grow your business?
These are two of the most common questions I receive from my long-term clients when thinking about growth for their business, but no matter how the question is phrased, my answer is always the same. Know your numbers, know your market, make your plan, and follow the plan. It all comes down to the numbers and that’s exactly where we start with Profit Cents, simply the most powerful financial tool the AKSBDC has to offer you and your business.
Profit Cents is a comprehensive financial analysis and risk management program used nationwide by your local AKSBDC, accountants, business advisors and major financial institutions. This tool provides entrepreneurs with a complete financial analysis of their business and accessibility to benchmarking data from over 1,400 industries and 60 financial ratios for comparison and tracking.
When planning to grow your business, improve your cash flow, or evaluate the possibilities for further investments into your business, you must first understand what your financial position is today so you can make the most informed financial decisions for tomorrow. Profit Cents enables us to do this, and we at the AKSBDC have made it as easy as possible for you to get started.
With 3 years of your business’ historical financial data gathered from tax returns, financial statements, or even directly through QuickBooks, your advisor will create a comprehensive analysis and 5-year set of projections based on your business’ level of efficiencies. This projection model will then enable you and your counselor to analyze your plans for growth and determine exactly what steps are needed to achieve your financial objectives. With these steps determined, you can then position yourself for future growth, evaluate potential challenges, and be prepared with a blueprint for success.
So what are you waiting for? Call your local AKSBDC today and start growing your business tomorrow.
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Last modified: August 25, 2014