Discover how to Know Your Numbers with Kristine MehlerDec 13, 2020
Getting your finances together as a small business owner can be challenging, but you need to know your numbers now, this will help your business get to where you want it to be. The CoLab hosts Megan Marsh and Andres Munar welcome special guest Kristine Mehler, CEO of the TLG Financial Foundation, which is an accounting, advisory and consulting firm designed to help businesses create cash flow, job cost, and grow profit.
Every business owner has dreams and goals for their enterprise. Neither can become a reality unless they successfully manage their finances. It can be an overwhelming process to start, but there are resources out there to help you to know your numbers. In this episode of The CoLab, Megan Marsh and Andres Munar speak with Kristine Mehler, CEO of the TLG Financial Foundation, to uncover ways business owners can tackle their finances and create systems to help them stay on track and reach their goals.
Click here to access resources from Kristine.
Ready to dive in? Here’s what we’re covering in this episode of The CoLab:
● [03:13] Introducing Kristine Mehler, who uses her background in accounting to help small businesses get their finances on track and help them grow through the TLG Financial Foundation.
● [09:15] People go to workshops or conferences, learn great things, but don’t implement them in their business. A coach or mentor can help change happen.
● [12:50] A lot of business owners are happy to make money with their business, but should also be putting a value on their time and skills.
● [15:50] Knowing your terms is important, such as the difference between cash flow and net profit. Understanding these terms and how they relate to one another will make managing finances less daunting for business owners.
● [21:45] Mindset is huge. Being adaptable allows you to take new ideas and use them to transform your existing business for the better.
● [24:15] When it comes to reducing costs, asking the right questions is key. Do you need it? Can you get rid of it without sacrificing quality of service or product?
We hope this was helpful to know your numbers. If you have more tips, let us know in the comments or on our social media.