#1 Reason Why You're Stuck on a Financial Rollercoaster

Have you ever reviewed your profit report and celebrated an increase in sales and profitability? You gave everyone a high five and announced year-end bonuses.

A few days later the celebration was over after your bookkeeper asked you to transfer money for payroll.

You wonder what happened…how are we profitable and busier than ever, but we don’t have enough money to make payroll?

Have you lost trust in your financial statements?

Don’t give up on them. It's not the financial statements...it's the viewpoint.

Every business has 7 financial viewpoints. Too often, business default to only one – the tax viewpoint.

The problem is most profit and loss statements do not report true profitability. The P&L really shows the profit from a tax viewpoint which is different.

The tax viewpoint provides a false sense of profitability. It does not include all the costs of doing business…only the deductions allowed by the IRS.

The tax viewpoint leads to financial rollercoaster.

In this video, we’ll cover all of the financial viewpoints to help you stop riding on the financial roller coaster.

Video timeline

0:34        Profit viewpoint  You are really looking at the Tax viewpoint

6:35        Overview of the 7 Financial Viewpoints

7:24        Balance Sheet viewpoint

11:49     Signs of a financially strong business

15:18     Healthy Business Cycle

16:48     Cashflow viewpoint

17:33     Personal viewpoint

21:37     Future viewpoint

26:18     Profit viewpoint

29:10     Taxes are a cost of doing business…not a penalty

30:09     Price viewpoint

35:34     7 Financial Viewpoints pyramid – lay the right financial foundation

Bottom Line

• Ask for a True Profitability report
• Switch your viewpoint to match the decision
• Stop waiting to pay yourself
• Lay the right financial foundation by starting with your personal financial needs