You are listening to the 10-minute entrepreneur podcast with host Sean Castrina.

On today's podcast, we're talking about the blue collar P&L statement, maybe your balance sheet accounting statement.

All things to do with money, I'm going to bring it down to a way that you can understand it.

Some people would say blue collar, I'm going to just say you're not going to need an MBA, but it's the only numbers that matter.

Just the other day, my son works for a couple of companies, and he's in his early 20s, and he asked me,

hey, Dad, can you take a peek at this P&L statement and tell me what you think?

And I went over and I said, well, the only numbers that matter are this and this.

He shows me a long statement, but I've been doing this 30 years.

I know what to look for, and I'm going to tell you the only thing that matters on your P&L statement.

Now, I want to be clear, do not wait to meet with your accountant to know the key numbers for your business.

You need to know them yourself.

I've met so many entrepreneurs that they meet with their accountant like every three months,

and then they find out as I get their report card, how they're doing financially.

I want to know on any given day how my company is doing.

These are key things I absolutely want to know.

For right now, I'm going to tell you the things that you need to know monthly.

To be frank, a lot of most of these I want to know weekly, but for you, these are the six things you want to know monthly,

and then we're going to look at quarterly.

What is your monthly operating cost?

What is it cost to run your business? That's it.

It costs our business $11,487 per month to operate.

Why want to know that?

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