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Thrivetime Show | Business School without the BS

Small Business Finance 101 | Refusing to Look at Your Numbers Won’t Help You

Thrivetime Show | Business School without the BS

Clay Clark

Business, Entrepreneurship

4.71.5K Ratings

🗓️ 15 August 2022

⏱️ 10 minutes

🧾️ Download transcript

Summary

Do you know your numbers? Do you know what numbers to look at? If you do not then this special edition man cave podcast version of the Thrivetime Show is for you.

Transcript

Click on a timestamp to play from that location

0:00.0

Get ready to enter the Thrive Time Show, three, two, one, boom.

0:09.0

All right, Thrive Nation, welcome back to the Thrive Time Show on your podcast download.

0:13.7

And this next podcast, I think for a lot of people, this particular subject is one that

0:20.4

a lot of people struggle with.

0:23.7

And so I come at you today, do the desire to coach you up and not talk down to you.

0:30.2

So I'm going to try to come in there and approach this subject lightly and be nice, but

0:34.4

I also want to let you know that if you don't change as a result of this, then this was

0:39.4

a waste of time, okay?

0:41.0

So small business finance 101, you've got to look at your numbers.

0:46.4

And if you don't look at your numbers, it won't help refusing to look at your numbers

0:50.6

on a weekly basis won't help.

0:52.6

So Dave Ramsey, the financial guru, the New York Times bestselling author, he says a budget

0:57.6

is telling your money where to go instead of wondering where it went.

1:02.3

Now CNN is saying the majority of Americans are wondering where their money went because

1:06.5

according to the stress test, the test that the Federal Reserve did on the American average

1:12.0

American person out there, they found the average American cannot afford a $500 emergency.

1:18.9

63% of the American population.

1:20.8

That doesn't have $500 saved.

1:24.5

So Forbes says eight out of 10 small businesses fail, so the business world is no better.

1:30.0

So here are the steps to being successful with your accounting.

1:33.7

I'm going to give you the steps.

1:34.7

There's just six steps.

...

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