by Mikkel Pitzner | Nov 14, 2023 | Uncategorized
Today’s spotlight shines on a key metric that can transform numbers on a page into actionable business intelligence — the Gross Profit Margin. This powerful figure is a telling sign of your company’s financial health, efficiency, and potential for...
by Mikkel Pitzner | Nov 14, 2023 | Uncategorized
We will continue last edition’s mentioning of the various Financial Statements, but before we continue, we need to go back to the Anatomy of The Profit & Loss Statement. As stated it is important that we structure it in such a way that we can learn much more about...
by Mikkel Pitzner | Nov 13, 2023 | Uncategorized
Before we go on with the subject of the anatomy of your Profit & Loss Statement, let us just pause for a moment as we briefly review financial statements — the tools that measure your business’s financial success. Just as a student’s report card...
by Mikkel Pitzner | Nov 13, 2023 | Uncategorized
In this edition, we delve deep into the skeletal framework of the Profit & Loss (P&L) Statement—a critical financial document that, when structured properly, provides a transparent view of your business’s fiscal health. The artistry behind a well-crafted...
by Mikkel Pitzner | Nov 13, 2023 | Uncategorized
Ok, so we agree on the need for having a great bookkeeper so we can be assured that we always have up-to-date good books available at our fingertips. Now, before we continue, we need to get to grips with the various types of costs in a business. I will explain in...
by Mikkel Pitzner | Nov 11, 2023 | Uncategorized
Congratulations on taking that crucial step of getting your books in order! Most of you more than likely had this in order already, but ever so often I come across a client where that is not the case. On rare occasions, I actually see the cardboard box scenario filled...
by Mikkel Pitzner | Nov 11, 2023 | Uncategorized
In the diverse landscape of small to medium-sized businesses, it’s not uncommon to find partners in life doubling as partners in business. Many entrepreneurs choose to involve their spouses or significant others in various roles, with a common choice being...
by Mikkel Pitzner | Nov 10, 2023 | Uncategorized
In today’s issue, we tackle the very backbone of your business: the numbers. The late business guru Peter Drucker is quoted for having said: “What gets measured gets managed.” Tony Robbins has reworded this to: “You can’t manage what you don’t measure.”...
by Mikkel Pitzner | Oct 30, 2023 | Uncategorized
Welcome to the fourth edition of “The Automated Millionaire” newsletter. In this issue, I want to clarify a fundamental aspect of our journey together. You, as my readers, are already masters of your craft. Your expertise in your respective fields, trades,...
by Mikkel Pitzner | Oct 29, 2023 | Uncategorized
As we set forth on this shared expedition through our newsletter, where I impart wisdom gained from assisting numerous businesses across diverse industries and geographic locations, it is imperative that we deeply appreciate the significance of mutual respect. While...
by Mikkel Pitzner | Oct 28, 2023 | Uncategorized
Have you ever been impressed by successful businesses and wondered how they achieved such remarkable results? It is common to believe that running a business is an art reserved for a few chosen individuals. However, the truth is that business is a learnable skill that...
by Mikkel Pitzner | Sep 16, 2021 | Entrepreneurship
Anthony Robbins says it the best, when he says: “The Quality of Your Life Is a Direct Reflection of the Quality of the Questions You Are Asking Yourself” Or rewritten as: “The Quality Of Your Life Depends On The Quality Of Your Questions” As a Business Consultant sent...
by | Mar 12, 2021 | Uncategorized
How on Earth can a Top Business Turn-Around Agent so consistently turn a near bankruptcy business around in relatively short time, without having much prior knowledge or experience in the specific industry if indeed any? How can such a Top Business Turn-Around Agent...
by | Mar 3, 2021 | Uncategorized
My first personally owned business was that of Copenhagen Limousine Service that I purchased in late 1996. At the time I was the CEO of the fourth largest car rental company in Denmark, with some 200 employees, 1,500 vehicles and managing some 60 million dollars. I...
by | Feb 24, 2021 | Uncategorized
“It’s always been like that,” Mr. Hines states repeatedly. It’s his standard remark to describe a lot of the ailments and pain he had lived through with his business for years and years. The business used to be good, but something changed over the years, and the past...
