TBL Episode 150 – REPLAY: How your finances and operations are connected
We’re revisiting some of our most popular and helpful podcasts from the last year. For this week, we are replaying episode 83.
At its core, bookkeeping is about keeping score for your business.
The financial reporting that a bookkeeper puts together for their clients is the scoreboard that shows if a business is doing the right things from both a sales and operations perspective to keep it profitable and thriving. But what if things aren’t looking as good as you want them to on your financial reports?
You have two options: make more sales or cut back on expenses.
For smaller online businesses, it truly can be this simple. For larger businesses, you need a deeper understanding of your internal operations in order to ensure the relationship between your revenue and expenses make sense (aka, generate healthy profits).
That is why in today’s episode, we discuss:
Why our clients are surprised when their financial questions turn into conversations about product strategy and operations. Why the bigger your business becomes, the more important it is to have clean and efficient internal operations Why streamlined product offerings make your operational costs so much easier to manage Why you shouldn’t be tempted to add too many extras to “fill out” your offerings How making rushed hires to patch holes in your business might be a sign of operational inefficiencies
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The Financial Foundations
A FREE private podcast with sixteen value packed episodes covering everything you need to know about how the financial side of your online business works.