Did you know no matter what industry or size of business you’re in, there are really only a few levers you can pull that will impact profit or cash?
While it can seem daunting, the Income Statement is really only made up of 5 major sections, and within those sections, three are your levers: Sales, Cost of Goods Sold, and Operating Expenses.
Similarly, there are often only three levers on the Balance Sheet that can be pulled to help drive improved cash flow: Accounts Receivable, Accounts Payable, and Inventory.
In this video, Spencer briefly explains these levers and how they can impact the profitability of your business and improve cash flow.
These are the key levers we focus on at Shift as part of your monthly Insights package.
How could focusing on these key levers drive more profit into YOUR business and improve your cashflow?