Having happy customers who repeatedly buy your products and/or services for their pet companions is a wonderful expression of your solid business skills. A consistent and talented team of employees who show up every day to help drive your business forward reflects your ability as a manager to inspire and lead. But how do you demonstrate these strengths to a financial partner, such as an investor or lender? Through accurate, well-documented, and up-to-date financial statements.
Quality financial statements that are easily available when you need them clearly demonstrate your management skills. It shows that you pay attention to the details that impact your bottom line. A financial partner knows that you can only manage what you measure – and they want to work with people who are on top of those details that drive business success.
Any loan officer can tell you about the times when someone shared less than stellar financial statements with them. Unfortunately, we’ve seen too many financial statements that are illegible, inaccurate, and incomplete.
If you’ve been busy running your current business and have fallen out of the habit of producing up-to-date financial statements on a regular basis, here are some ideas that can help:
Small changes can make a significant impact – and can help elevate your management skills.
Opportunities present themselves when you least expect it, so having well prepared financial statements at your fingertips to share with an investor or lender can pay off. Quick access to detailed and accurate financial information will set you and your pet-oriented business apart from the competition – and show off your important management skills.