Apr 26, 2018
To effectively run a business there are a number of systems and workflows that should be implemented from the beginning, to ensure smooth business processes, and avoid headaches later on! Justin briefly goes over each of the various systems and explains the what and why.
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00:30 - What are the basic systems that I need in my Start-Up business?
00:59 - Accounting
04:54 - Balance Sheets
08:32 - Operating Statements
11:08 - The Net Profit Margin Ratio
12:35 - Return On Investment Ratio
14:17 - Inventory to Sales Ratio
17:02 - KPI
20:23 - How do we find these KPIs?
23:55 - Workflows
32:26 - Signing Off
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Neither Financially Simple, LLC nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances. Justin Goodbread, CEO of Heritage Investors, LLC, a Registered Investment Advisor, is an Investment Advisor Representative who offers advisory services through Heritage Investors. The information contained within the podcast is for informational purposes only and not considered investment advice. Seek help from a competent Financial Advisor.