We’re going over your “Blue Collar” P&L statement. You need to know these numbers before you meet your accountant. These are key.
What Are You Operating Costs?
I want to know this so I can compare it to operating costs six months from now. What changed? How can we get it back to where it was? This is your fixed costs, rent, etc.
What Are Your Account Balances?
Simply, how much money do you have in the business accounts?
What Is Your Company Income?
How much is your company bringing in?
What Are Your Expenses?
These are your flexible expense such as labor, fuel, etc.
What Are Your Company Reserves?
You’re going to hit a hard time at some point and will need to call on reserves to float the company. This is money set aside for a rainy day. If our reserves get large, we often invest in CDs and make a return on the money.
How Much Do YOU Take Home In Income?
This is how much you are taking home.
