Why should a retail or ecommerce business strive for better inventory forecasting and management to increase profits? Simply put, poor demand forecasting = higher carrying costs.
We often see prospective clients paying special attention to the profit and loss statement (P&L), but ignoring the balance sheet. That’s a mistake, as both are important. Let’s drill into their difference between the balance sheet and the P&L with this cheat sheet:
Many entrepreneurs know they need financial projections to secure a business loan. But not all understand the building blocks necessary to create more reliable financial projections.
Our favorite type of client? One that has been growing so fast they haven’t had time to really put their financial reports to work. There is so much room for improvement in a company that is already growing but doesn’t yet know how to glean value from their financial reports.