Start Now to "Beautify" Year-End Financial Statements

For most of you, your fiscal year end (i.e., 12/31; 1/31; 2/28; etc) is rapidly approaching.

"So what?", you ask.

Well, whatever your year-end financial statement says about your business, you will have to "live with" for the next year or longer. And each vendor, bank, or landlord you share it with will judge your business by it. So, now is the time to dress it up! 

Is there a beauty parlor for retail businesses? Yes!

We just conducted two workshops at a huge trade show in Chicago. We taught those retail dealers how to financially beautify their businesses. (And some of these retailers are already making "dress up" plans.)

How Your Business Is Judged for the Next Year

Always remember: your debt-to-worth ratio is the #1 measurement of the financial strength (or weakness) of your business. So, how can that be improved? Here are 3 choices.

1. Obviously, the more net profits that are added to your retained earnings from your P&L, the greater your equity/net worth will be.
2. But, shrinking your liabilities (any and all debt) is the most impactful and controllable way to improve your year-end debt-to-worth ratio.
3. "Controllable?" Yep. Shrink (sell off; liquidate) any assets you can (especially excess inventory) and apply that cash to paying down debt.

If you take these steps vigorously, there is a Miss or Mister America Pageant you can enter!! 

And best of all, this "financial beautification" is far more than skin deep. It makes for a much healthier business as well.