by Mikkel Pitzner | Nov 15, 2023 | Uncategorized
Today, let’s unwrap the mystery of one of the most insightful financial statements out there—the Balance Sheet. This isn’t just a spreadsheet with numbers; it’s the financial mirror reflecting the true face of your business at any given time....
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...
