Financial Management 101: get a grip on the numbers
By Angie Mohr
Do you "cringe" when it comes to looking at any reports in your store? Are you much better at running the store by the seat of your pants than by numbers?
I doubt it!
If we were a 7/11 we could just look at the shelves and see we sell more Wrigleys Juicy Fruit and don't sell much in eggs. But we're not, Typical store cash 1500 to 4000 items in the case.
This book is where we get a lot of our easy to understand formulas for our QuickBooks for Jewelers workshops and the ideas we share at store visits.
Easy to understand and a must in these turbulent financial times.
Just a snap shop of some of the easy to understand ideas in this book:
A refresher on the Income Statement and balance sheet (Hey-why inventory isn't and should be on the profit & loss statement.)
Are buying new things-will and how they should pay for themselves.
What doesn't show up on your financial statement
3 methods of business growth
Care and feeding of your banker
Managing debt
The debt diet plan
Compensating employees
Putting it all together.
This is a very easy to understand book, needed by every jeweler. After a while pages should be dog eared, highlighted and bent over.
