Most business owners fall into two extremes – those who love their financial reports and barely go a day without having a peek (go cloud accounting!), and those who read what their accountant sends them each year … maybe.
As we’ve discussed in previous episodes, great financial reports provide timely and valuable information to business leaders, helping you make better decisions today and for the long term.
In this week’s Blackboard Fridays episode, we welcome back John Knight from businessDEPOT to talk about one report specifically – your P&L (Profit and Loss) Statement. As your business grows, the simplistic clumping of information (that saved you time at Start-Up) will mean you’re missing out on the nuances that may reveal super-profitable opportunities … or parts of your business that are secretly losing a lot of money.
So what is ‘Segmentation’? And how can you apply it for more Profit?