Hello, valued readers!
Today, I’m thrilled to share that we’ve laid down the essential groundwork through our newsletter series. Together, we’ve navigated the importance of understanding and utilizing financial statements like the Profit & Loss and the Balance Sheet. With these fundamentals in our toolkit, we’re poised for the exciting next chapter of our journey.
For those of you who already had this solidly in place, I commend you and appreciate you, if you’re still here. More insights that may serve you better are soon to come.
For those who did not have the books, the financial statements, and a solid bookkeeper in place, I urge you to get this in place. You simply cannot expect to be able to run a great business without it.
Before We Continue
I know I mentioned 4 different core financial statements (The Balance Sheet, The Profit & Loss Statement (P&L), The Cash Flow Statement, and The Statement of Shareholder’s Equity, and I know that I have yet to discuss two of these, namely: The Cash Flow Statement and The Statement of Shareholder’s Equity.
I shall soon be addressing The Cash Flow Statement and later on The Statement of Shareholder’s Equity. The Cash Flow Statement is incredibly important, for without cash and managing cash, our business may soon die. However, it makes sense that before we look at this in detail, that we address something else first, which you will see in the next couple of editions of this newsletter.
Finally, at this point, The Statement of Shareholder’s Equity can wait a bit. Mostly because most of the types of businesses I help, are small and medium-sized businesses that are privately owned by one-to-few people, and often their challenge is first to actually make money (or make money again) and meet debt obligations. We will revisit this again in due time, but this is not as urgent as what we need to look at first.
The Adventure Continues
As we move forward, I’m eager to invite you along on an even deeper exploration into the world of business mastery from my perspective. The upcoming editions will not just be another read; they’re your access pass to the strategies that have transformed struggling businesses on the brink of collapse into flourishing enterprises. We’ll dissect the turnaround tales, and for those already riding the wave of success, we’ll push the envelope to achieve even greater heights.
Turning Knowledge into Power
I’ve walked the path of guiding businesses away from the red and into the green, and now, I’m ready to pull back the curtain and share how it’s done. Whether it’s reshaping a near-bankrupt organization or boosting a thriving business’s performance, the insights to come are tried and tested in the fires of real-world challenges.
Let’s Grow Together
This journey is not just mine to take but ours to share. I encourage you to invite others to join us. If you know someone, a fellow entrepreneur or a visionary business owner, who might benefit from proven insights to vastly improve their business results, share this newsletter with them. Your recommendation could be the catalyst for someone’s business breakthrough.
Share the Knowledge
Sharing is caring, especially when it comes to empowering others with the tools for success. Forward this newsletter to your connections, discuss it at your networking events, and let’s expand this circle of learning.
A Personal Note
I’m deeply grateful for your engagement and support thus far. Your feedback, stories, and insights have been nothing short of inspiring, and I appreciate all the comments and direct messages that I have received. As we embark on this next phase, I’m more committed than ever to delivering value that can truly make a difference in your business journey.
Stay tuned, stay engaged, and let’s transform potential into prosperity.
Warm regards,
Mikkel Pitzner
