The Critical 4 Financial Metrics of Your Business with Michael King
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The Critical 4 Financial Metrics of Your Business with Michael King

August 4, 2021

 

You need to understand your financial metrics when it comes to your business.

I say this ALL the time, so we are actually getting into the details of it in this episode.

I am joined by Michael King to talk about the critical four financial metrics of your business: revenue, gross profit, net profit, and cash.

Michael is a business money coach and the CEO of KFE Solutions. After spending the first 11 years of his career in the military, Michael ventured into the world of business. He quickly learned that he needed to level up his financial IQ to survive.

The big problem he found was the fact that most financial “experts” couldn’t explain business money concepts in a way that could be quickly understood and easily applied to real-world problems that entrepreneurs encounter.

Michael decided to bridge that gap. In 2016, he created KFE Solutions with the mission of helping business owners understand their numbers so they can make better decisions. Since then, Michael and his team have worked with hundreds of entrepreneurs to help them scale their businesses profitably.

 

On Today’s Show You’ll Learn: 

  • The percentage of businesses that fail because of poor cash flow management
  • How your decisions impact revenue, gross profit, net profit, and cash
  • The number one thing to look for in a bookkeeper
  • Why you need to look at least 6 weeks into the future for your cash flow forecast
  • How cash flow forecasting differs from profit
  • The amount of clarity that cash flow forecasting brings into our life and business
  • What you should consider when hiring from a cash flow perspective
  • Understanding decisions from a profitability standpoint
  • Mapping out payment plans for Facebook ads

 

Michael is actually a member of my Accelerator program, so he brings all of his knowledge to all of us in Accelerator!

When you can better understand these critical four financial metrics of your business, you can make better decisions.

If you’re a course creator or an online coach that wants to better understand your financial numbers, my Accelerator coaching program is for you! You can learn more about it and apply at rickmulready.com/accelerator.

 

Links & Resources Mentioned in this Episode:

rickmulready.com/accelerator

KFEsolutions.com

instagram.com/i.am.michael.king

facebook.com/i.am.michael.king

linkedin.com/in/iammichaelking

 

Got A Question You Want Answered On the Podcast?

Ask your questions or let me know if there is a topic or guest you’d like to hear from in the comments below or click here to visit my contact page and submit your question there for a chance to be featured on one of my upcoming Q&A episodes.

 

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Right-click here to download this episode

 

Other Episodes You’ll Enjoy:

How to Predict Your Business’ Future With a Scorecard

Thinking Differently About Your Marketing Efforts, with India Jackson

Why Your Ad Strategy for Launches Needs to Change

 

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