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5 Steps to Accelerating Your Business Growth Part 1.2: Analyze Your Financials



Step 2: Analyze your financials


This step may not be the most exciting, but it's essential. Take a look at your financial statements and assess your revenue, expenses, and profits. If you need an additional resource to help you through this process, visit our website to download your complimentary copy of CEOs Finish Strong. It’s a checklist that will walk you through evaluating your company, including your finances.


Here's an example of a data chart to compare revenue and expenses, but keep in mind, this information can also be pulled from your profit and loss statement and balance sheet:



As you can see from the chart, revenue has been steadily increasing throughout the year, but expenses are also on the rise. This information can help you make informed decisions about where to allocate your resources. If you’re experiencing the same or similar situation, no worries. You can expect to spend more money when you’re making more money. However, you still want to keep an eye on your cash flow. That also includes planning to increase your revenue. That leads us to step 3.

 


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