hi I’m Evan Carmichael and today I wanted to talk about a topic that a lot
wanted to talk about a topic that a lot
wanted to talk about a topic that a lot of entrepreneurs are scared about but
of entrepreneurs are scared about but
of entrepreneurs are scared about but shouldn’t be and that’s your balance
shouldn’t be and that’s your balance
shouldn’t be and that’s your balance sheet many entrepreneurs nowa balance
sheet many entrepreneurs nowa balance
sheet many entrepreneurs nowa balance sheet is something their accountant
sheet is something their accountant
sheet is something their accountant gives them at the end of the year but
gives them at the end of the year but
gives them at the end of the year but they don’t really know how to use it to
they don’t really know how to use it to
they don’t really know how to use it to make important business decisions so in
make important business decisions so in
make important business decisions so in this video I wanted to quickly talk
this video I wanted to quickly talk
this video I wanted to quickly talk about what about sheet is what the
about what about sheet is what the
about what about sheet is what the elements are and then give you some tips
elements are and then give you some tips
elements are and then give you some tips and strategies and how you can use the
and strategies and how you can use the
and strategies and how you can use the information in your balance sheet to run
information in your balance sheet to run
information in your balance sheet to run your business potentially raise money
your business potentially raise money
your business potentially raise money for your business and also sell your
for your business and also sell your
for your business and also sell your business here we go to quickly explain
business here we go to quickly explain
business here we go to quickly explain what a balance sheet is I’ve loaded my
what a balance sheet is I’ve loaded my
what a balance sheet is I’ve loaded my simply accounting enterprise software
simply accounting enterprise software
simply accounting enterprise software and you can go to reports click on
and you can go to reports click on
and you can go to reports click on financials
financials
financials / – balance sheet and this will help me
/ – balance sheet and this will help me
/ – balance sheet and this will help me prepare a balance sheet for the company
prepare a balance sheet for the company
prepare a balance sheet for the company this is a construction company here and
this is a construction company here and
this is a construction company here and there is the balance sheet so the
there is the balance sheet so the
there is the balance sheet so the balance sheet will basically tell you
balance sheet will basically tell you
balance sheet will basically tell you what your business owns what it owes to
what your business owns what it owes to
what your business owns what it owes to other people and then what you as a
other people and then what you as a
other people and then what you as a business owner actually have in the
business owner actually have in the
business owner actually have in the business that’s left over so if you look
business that’s left over so if you look
business that’s left over so if you look at the assets here assets is what your
at the assets here assets is what your
at the assets here assets is what your company will own the liabilities are
company will own the liabilities are
company will own the liabilities are going to be what you owe to other people
going to be what you owe to other people
going to be what you owe to other people and then the equity are is going to be
and then the equity are is going to be
and then the equity are is going to be what you as the entrepreneur will own in
what you as the entrepreneur will own in
what you as the entrepreneur will own in the actual business so the formula is
the actual business so the formula is
the actual business so the formula is always assets equals liabilities plus
always assets equals liabilities plus
always assets equals liabilities plus equity or if you think about another way
equity or if you think about another way
equity or if you think about another way the assets what your company owns minus
the assets what your company owns minus
the assets what your company owns minus the liability is what you owe is what
the liability is what you owe is what
the liability is what you owe is what you end up with as your equity in the
you end up with as your equity in the
you end up with as your equity in the company and hopefully that’s a lot of
company and hopefully that’s a lot of
company and hopefully that’s a lot of money so I want to quickly just touch
money so I want to quickly just touch
money so I want to quickly just touch base on what each category is so you
base on what each category is so you
base on what each category is so you have an understanding under assets you
have an understanding under assets you
have an understanding under assets you can look at the first category here is
can look at the first category here is
can look at the first category here is total current assets and this these are
total current assets and this these are
total current assets and this these are assets that are either cash or could be
assets that are either cash or could be
assets that are either cash or could be converted into cash really quickly so
converted into cash really quickly so
converted into cash really quickly so you can see here cash is here and then
you can see here cash is here and then
you can see here cash is here and then you should the biggest one and the
you should the biggest one and the
you should the biggest one and the current assets are receivables so
current assets are receivables so
current assets are receivables so accounts receivables are money that’s
accounts receivables are money that’s
accounts receivables are money that’s basically owed to you you’ve either
basically owed to you you’ve either
basically owed to you you’ve either invoice them and they’re you’re waiting
invoice them and they’re you’re waiting
invoice them and they’re you’re waiting on payment could be 30 days or 60 days
on payment could be 30 days or 60 days
on payment could be 30 days or 60 days or 90 days and you’re waiting to get
or 90 days and you’re waiting to get
or 90 days and you’re waiting to get paid
paid
paid so hopefully that’ll be converted pretty
so hopefully that’ll be converted pretty
so hopefully that’ll be converted pretty quickly inventory assets is a second
quickly inventory assets is a second
quickly inventory assets is a second category and these are items that you
category and these are items that you
category and these are items that you have that hopefully can be converted
have that hopefully can be converted
have that hopefully can be converted quickly into cash if you need it so if
quickly into cash if you need it so if
quickly into cash if you need it so if we look at what they have here we’ve got
we look at what they have here we’ve got
we look at what they have here we’ve got drywall Hardware lumber roofing other so
drywall Hardware lumber roofing other so
drywall Hardware lumber roofing other so it’s a construction company that would
it’s a construction company that would
it’s a construction company that would make sense if they really needed to
make sense if they really needed to
make sense if they really needed to generate cash they could probably sell
generate cash they could probably sell
generate cash they could probably sell this and and make some money from it the
this and and make some money from it the
this and and make some money from it the next category are capital assets and
next category are capital assets and
next category are capital assets and these are items that you cannot convert
these are items that you cannot convert
these are items that you cannot convert into cash very easily but are still
into cash very easily but are still
into cash very easily but are still worth a lot of money so you can see on
worth a lot of money so you can see on
worth a lot of money so you can see on this balance sheet here that they’ve got
this balance sheet here that they’ve got
this balance sheet here that they’ve got a lot of capital assets so if you look
a lot of capital assets so if you look
a lot of capital assets so if you look at that you’ll see things like furniture
at that you’ll see things like furniture
at that you’ll see things like furniture equipment vehicles computers building
equipment vehicles computers building
equipment vehicles computers building land so all things that have value but
land so all things that have value but
land so all things that have value but it’s hard to convert into money if they
it’s hard to convert into money if they
it’s hard to convert into money if they really need to do it quickly and in the
really need to do it quickly and in the
really need to do it quickly and in the last category our other non current
last category our other non current
last category our other non current assets and these are things like
assets and these are things like
assets and these are things like goodwill or if you have a patent that’s
goodwill or if you have a patent that’s
goodwill or if you have a patent that’s potentially worth a lot of money you
potentially worth a lot of money you
potentially worth a lot of money you would filter it here under non current
would filter it here under non current
would filter it here under non current assets the next side is liabilities and
assets the next side is liabilities and
assets the next side is liabilities and so this is going to be what you owe as a
so this is going to be what you owe as a
so this is going to be what you owe as a company again it’s going to be divided
company again it’s going to be divided
company again it’s going to be divided into current liabilities and long-term
into current liabilities and long-term
into current liabilities and long-term liabilities so for current liabilities
liabilities so for current liabilities
liabilities so for current liabilities this is money that you basically will
this is money that you basically will
this is money that you basically will owe within the next year so it could be
owe within the next year so it could be
owe within the next year so it could be accounts payable so something that
accounts payable so something that
accounts payable so something that you’ve bought that you haven’t paid off
you’ve bought that you haven’t paid off
you’ve bought that you haven’t paid off yet credit card that bank loans bank
yet credit card that bank loans bank
yet credit card that bank loans bank advances corporate taxes basically
advances corporate taxes basically
advances corporate taxes basically things that you need to pay off within
things that you need to pay off within
things that you need to pay off within the next year long-term liabilities are
the next year long-term liabilities are
the next year long-term liabilities are is money that you owe to other people or
is money that you owe to other people or
is money that you owe to other people or other companies but that aren’t due
other companies but that aren’t due
other companies but that aren’t due until beyond a year so it could be a
until beyond a year so it could be a
until beyond a year so it could be a bank loan or a mortgage or a loan from a
bank loan or a mortgage or a loan from a
bank loan or a mortgage or a loan from a shareholder things that you have to pay
shareholder things that you have to pay
shareholder things that you have to pay off but you don’t have to pay off within
off but you don’t have to pay off within
off but you don’t have to pay off within the next year
the next year
the next year so that’s how much liabilities you have
so that’s how much liabilities you have
so that’s how much liabilities you have and then the remainder is going to be
and then the remainder is going to be
and then the remainder is going to be the equity and that’s going to be how
the equity and that’s going to be how
the equity and that’s going to be how much you will own as the entrepreneur in
much you will own as the entrepreneur in
much you will own as the entrepreneur in the business so again the key thing to
the business so again the key thing to
the business so again the key thing to look at assets is what you own your
look at assets is what you own your
look at assets is what you own your company owns liabilities what your
company owns liabilities what your
company owns liabilities what your company owes to other people are
company owes to other people are
company owes to other people are companies and if you subtract those two
companies and if you subtract those two
companies and if you subtract those two you’ll end up with the equity which is
you’ll end up with the equity which is
you’ll end up with the equity which is how much you have actually left in the
how much you have actually left in the
how much you have actually left in the business so let me now show you how you
business so let me now show you how you
business so let me now show you how you can use the information in your balance
can use the information in your balance
can use the information in your balance sheet to run your business raise capital
sheet to run your business raise capital
sheet to run your business raise capital for your business and then potentially
for your business and then potentially
for your business and then potentially sell your business as well
two important numbers that we can get
two important numbers that we can get from our balance sheet to help us run
from our balance sheet to help us run
from our balance sheet to help us run our businesses our working capital and
our businesses our working capital and
our businesses our working capital and turnover in accounts receivable so we’ll
turnover in accounts receivable so we’ll
turnover in accounts receivable so we’ll start with working capital working
start with working capital working
start with working capital working capital you may have heard before it is
capital you may have heard before it is
capital you may have heard before it is basically your current assets minus your
basically your current assets minus your
basically your current assets minus your current liabilities so if we look at our
current liabilities so if we look at our
current liabilities so if we look at our current assets it’s three hundred and
current assets it’s three hundred and
current assets it’s three hundred and fifty thousand almost minus our current
fifty thousand almost minus our current
fifty thousand almost minus our current liabilities of two hundred and twenty
liabilities of two hundred and twenty
liabilities of two hundred and twenty thousand dollars so we’ve got some some
thousand dollars so we’ve got some some
thousand dollars so we’ve got some some good working capital of about a hundred
good working capital of about a hundred
good working capital of about a hundred and thirty thousand dollars what that
and thirty thousand dollars what that
and thirty thousand dollars what that basically means is this company can
basically means is this company can
basically means is this company can survive in the short term so if
survive in the short term so if
survive in the short term so if creditors come and say hey we need our
creditors come and say hey we need our
creditors come and say hey we need our money now or if there’s a crunch that no
money now or if there’s a crunch that no
money now or if there’s a crunch that no sales dry up and the company needs to
sales dry up and the company needs to
sales dry up and the company needs to pay off you know those liabilities they
pay off you know those liabilities they
pay off you know those liabilities they have the money to do it if you owe a lot
have the money to do it if you owe a lot
have the money to do it if you owe a lot of money on your liabilities and you
of money on your liabilities and you
of money on your liabilities and you don’t have money coming in if there’s a
don’t have money coming in if there’s a
don’t have money coming in if there’s a big crunch of sales drop off then it’s
big crunch of sales drop off then it’s
big crunch of sales drop off then it’s going to be hard for you to raise the
going to be hard for you to raise the
going to be hard for you to raise the money to be able to pay people off also
money to be able to pay people off also
money to be able to pay people off also being able to pay things like salaries
being able to pay things like salaries
being able to pay things like salaries and day-to-day expenses are a lot easier
and day-to-day expenses are a lot easier
and day-to-day expenses are a lot easier if you have good working capital so you
if you have good working capital so you
if you have good working capital so you want to make sure that your current
want to make sure that your current
want to make sure that your current assets are greater than your current
assets are greater than your current
assets are greater than your current liabilities and that will help ensure
liabilities and that will help ensure
liabilities and that will help ensure that your company can survive in the
that your company can survive in the
that your company can survive in the short term the second thing you look at
short term the second thing you look at
short term the second thing you look at is your accounts receivable and a big
is your accounts receivable and a big
is your accounts receivable and a big part of your current assets here you can
part of your current assets here you can
part of your current assets here you can see is our accounts receivable so for
see is our accounts receivable so for
see is our accounts receivable so for this company you know if we have three
this company you know if we have three
this company you know if we have three hundred and forty six thousand current
hundred and forty six thousand current
hundred and forty six thousand current assets accounts receivable is a big
assets accounts receivable is a big
assets accounts receivable is a big chunk of that two hundred thirty six
chunk of that two hundred thirty six
chunk of that two hundred thirty six thousand this could be I’m getting money
thousand this could be I’m getting money
thousand this could be I’m getting money right away or could mean I’m not getting
right away or could mean I’m not getting
right away or could mean I’m not getting money for a long time so you want to
money for a long time so you want to
money for a long time so you want to look at how frequently that money comes
look at how frequently that money comes
look at how frequently that money comes in so is it you know 30 days payable is
in so is it you know 30 days payable is
in so is it you know 30 days payable is it 60 days payable is that 90 days
it 60 days payable is that 90 days
it 60 days payable is that 90 days payable because if you have a lot of
payable because if you have a lot of
payable because if you have a lot of liabilities if you owe people money
liabilities if you owe people money
liabilities if you owe people money that’s coming up the bank needs their
that’s coming up the bank needs their
that’s coming up the bank needs their money regardless then you have to make
money regardless then you have to make
money regardless then you have to make sure that that money is going to come in
sure that that money is going to come in
sure that that money is going to come in on time the other thing you want to make
on time the other thing you want to make
on time the other thing you want to make sure of is that people actually pay your
sure of is that people actually pay your
sure of is that people actually pay your accounts receivable and that you’re
accounts receivable and that you’re
accounts receivable and that you’re working with companies who will pay on
working with companies who will pay on
working with companies who will pay on time so companies that you know don’t go
time so companies that you know don’t go
time so companies that you know don’t go bankrupt or refuse to pay you you’re
bankrupt or refuse to pay you you’re
bankrupt or refuse to pay you you’re still showing it here as hey you know
still showing it here as hey you know
still showing it here as hey you know I’m over
I’m over
I’m over two hundred thousand dollars but if they
two hundred thousand dollars but if they
two hundred thousand dollars but if they don’t actually end up paying you the
don’t actually end up paying you the
don’t actually end up paying you the money then it’s gonna be a hard time for
money then it’s gonna be a hard time for
money then it’s gonna be a hard time for you to be able to run your business so
you to be able to run your business so
you to be able to run your business so those two key numbers are really
those two key numbers are really
those two key numbers are really important to look at for growing your
important to look at for growing your
important to look at for growing your business again you want to look at your
business again you want to look at your
business again you want to look at your working capital so your current assets
working capital so your current assets
working capital so your current assets minus your current liabilities and that
minus your current liabilities and that
minus your current liabilities and that will tell you if you’re able to survive
will tell you if you’re able to survive
will tell you if you’re able to survive in the short term with your business and
in the short term with your business and
in the short term with your business and then look at your accounts receivable
then look at your accounts receivable
then look at your accounts receivable and see when they’re due if the money is
and see when they’re due if the money is
and see when they’re due if the money is going to be coming in on time for you to
going to be coming in on time for you to
going to be coming in on time for you to pay off what you owe other companies and
pay off what you owe other companies and
pay off what you owe other companies and if it’s likely that that money will come
if it’s likely that that money will come
if it’s likely that that money will come in based on the types of clientele that
in based on the types of clientele that
in based on the types of clientele that you’re working with
next up is raising capital if you’re
next up is raising capital if you’re trying to raise capital from bankers or
trying to raise capital from bankers or
trying to raise capital from bankers or from investors they want to definitely
from investors they want to definitely
from investors they want to definitely take a look at your balance sheet so you
take a look at your balance sheet so you
take a look at your balance sheet so you can make it as strong as you can by
can make it as strong as you can by
can make it as strong as you can by first making sure that there’s assets to
first making sure that there’s assets to
first making sure that there’s assets to lend against so they won’t care so much
lend against so they won’t care so much
lend against so they won’t care so much about your current assets but they want
about your current assets but they want
about your current assets but they want to look at your capital assets to see if
to look at your capital assets to see if
to look at your capital assets to see if there’s anything that they can lend
there’s anything that they can lend
there’s anything that they can lend against so especially bankers want to
against so especially bankers want to
against so especially bankers want to see that you have a lot of assets so if
see that you have a lot of assets so if
see that you have a lot of assets so if you have land or if you have a building
you have land or if you have a building
you have land or if you have a building or if you have any furniture equipment
or if you have any furniture equipment
or if you have any furniture equipment that has some significant value then
that has some significant value then
that has some significant value then they’re thinking well if they don’t pay
they’re thinking well if they don’t pay
they’re thinking well if they don’t pay off this debt I can take away that
off this debt I can take away that
off this debt I can take away that building or could take away that land
building or could take away that land
building or could take away that land and sell it and I can make my money back
and sell it and I can make my money back
and sell it and I can make my money back they want to have that security that you
they want to have that security that you
they want to have that security that you have an asset there that they can take
have an asset there that they can take
have an asset there that they can take away from you if you don’t make your
away from you if you don’t make your
away from you if you don’t make your payment’s so they want to make sure that
payment’s so they want to make sure that
payment’s so they want to make sure that you have those capital assets available
you have those capital assets available
you have those capital assets available the other thing that they’re going to
the other thing that they’re going to
the other thing that they’re going to want to look at is how much debt do you
want to look at is how much debt do you
want to look at is how much debt do you already have so we’re gonna look at your
already have so we’re gonna look at your
already have so we’re gonna look at your liabilities especially the long-term
liabilities especially the long-term
liabilities especially the long-term liabilities and see do you already have
liabilities and see do you already have
liabilities and see do you already have bank loans you already have a mortgage
bank loans you already have a mortgage
bank loans you already have a mortgage you have loans from shareholders if you
you have loans from shareholders if you
you have loans from shareholders if you already have a lot of liabilities and
already have a lot of liabilities and
already have a lot of liabilities and you’re owing people a lot of money it’s
you’re owing people a lot of money it’s
you’re owing people a lot of money it’s gonna be a lot harder for you to be able
gonna be a lot harder for you to be able
gonna be a lot harder for you to be able to raise capital because even though you
to raise capital because even though you
to raise capital because even though you have great assets you’re already maxed
have great assets you’re already maxed
have great assets you’re already maxed out and it’s harder to leverage those
out and it’s harder to leverage those
out and it’s harder to leverage those assets even more
if you’re trying to sell your business
if you’re trying to sell your business the potential buyer is definitely gonna
the potential buyer is definitely gonna
the potential buyer is definitely gonna want to look at your balance sheet so I
want to look at your balance sheet so I
want to look at your balance sheet so I want to talk about a couple things are
want to talk about a couple things are
want to talk about a couple things are gonna want to look at if we’re looking
gonna want to look at if we’re looking
gonna want to look at if we’re looking at assets they’re gonna definitely check
at assets they’re gonna definitely check
at assets they’re gonna definitely check out your current assets and look at your
out your current assets and look at your
out your current assets and look at your receivables so your accounts receivables
receivables so your accounts receivables
receivables so your accounts receivables they’re going to want to see how big is
they’re going to want to see how big is
they’re going to want to see how big is it and do your clients have a history of
it and do your clients have a history of
it and do your clients have a history of pain like yes well we have two hundred
pain like yes well we have two hundred
pain like yes well we have two hundred thirty six thousand dollars in accounts
thirty six thousand dollars in accounts
thirty six thousand dollars in accounts receivable but you know our clients
receivable but you know our clients
receivable but you know our clients don’t often pay us on time or don’t pay
don’t often pay us on time or don’t pay
don’t often pay us on time or don’t pay us at all then you’re gonna get that
us at all then you’re gonna get that
us at all then you’re gonna get that number knocked back significantly the
number knocked back significantly the
number knocked back significantly the other thing here is inventory assets if
other thing here is inventory assets if
other thing here is inventory assets if you carry a lot of inventory they’re
you carry a lot of inventory they’re
you carry a lot of inventory they’re gonna see what is the likelihood that
gonna see what is the likelihood that
gonna see what is the likelihood that you’re actually gonna use all of this
you’re actually gonna use all of this
you’re actually gonna use all of this stuff in your business and if they had
stuff in your business and if they had
stuff in your business and if they had to sell it for cash if something
to sell it for cash if something
to sell it for cash if something happened and you had to get rid of you
happened and you had to get rid of you
happened and you had to get rid of you know your hardware for example could you
know your hardware for example could you
know your hardware for example could you actually sell it for ninety eight
actually sell it for ninety eight
actually sell it for ninety eight thousand dollars is it worth that much
thousand dollars is it worth that much
thousand dollars is it worth that much or is it worth a lot less if you’re
or is it worth a lot less if you’re
or is it worth a lot less if you’re going to sell the actual hardware itself
going to sell the actual hardware itself
going to sell the actual hardware itself so they’re going to look at every single
so they’re going to look at every single
so they’re going to look at every single number on your balance sheet and start
number on your balance sheet and start
number on your balance sheet and start asking you question to see if your
asking you question to see if your
asking you question to see if your company is actually worth the amount
company is actually worth the amount
company is actually worth the amount that you say it’s worth one last thing
that you say it’s worth one last thing
that you say it’s worth one last thing you look at here we had the other non
you look at here we had the other non
you look at here we had the other non current assets
current assets
current assets this again is patents Goodwill’s here
this again is patents Goodwill’s here
this again is patents Goodwill’s here it’s also called intangible assets
it’s also called intangible assets
it’s also called intangible assets they’re called intangible because it’s
they’re called intangible because it’s
they’re called intangible because it’s really hard to get an actual value on it
really hard to get an actual value on it
really hard to get an actual value on it how do you value what a patent is worth
how do you value what a patent is worth
how do you value what a patent is worth so you might think it’s worth a lot
so you might think it’s worth a lot
so you might think it’s worth a lot often buyers will say you know zero
often buyers will say you know zero
often buyers will say you know zero dollars I’m not giving any value
dollars I’m not giving any value
dollars I’m not giving any value assigned to that so something to be
assigned to that so something to be
assigned to that so something to be prepared for the other thing if I just
prepared for the other thing if I just
prepared for the other thing if I just close this up that a potential investor
close this up that a potential investor
close this up that a potential investor is going to look at is do you have a
is going to look at is do you have a
is going to look at is do you have a track record of success so you can
track record of success so you can
track record of success so you can create a balance sheet for every year
create a balance sheet for every year
create a balance sheet for every year that you’ve been in business and
that you’ve been in business and
that you’ve been in business and hopefully you’ve been around for a
hopefully you’ve been around for a
hopefully you’ve been around for a little bit and they’re going to want to
little bit and they’re going to want to
little bit and they’re going to want to see that you’ve grown the business so
see that you’ve grown the business so
see that you’ve grown the business so that you’ve you’ve gained assets and
that you’ve you’ve gained assets and
that you’ve you’ve gained assets and that you’ve gained in your equity so
that you’ve gained in your equity so
that you’ve gained in your equity so they can see that your business is
they can see that your business is
they can see that your business is growing you’re acquiring more assets
growing you’re acquiring more assets
growing you’re acquiring more assets it could be land and buildings and that
it could be land and buildings and that
it could be land and buildings and that kind of stuff more equipment to grow the
kind of stuff more equipment to grow the
kind of stuff more equipment to grow the business and also it’s great that you’ve
business and also it’s great that you’ve
business and also it’s great that you’ve acquired more assets but they want to
acquired more assets but they want to
acquired more assets but they want to see that you’re reducing your
see that you’re reducing your
see that you’re reducing your liabilities or at least your equity is
liabilities or at least your equity is
liabilities or at least your equity is growing faster than your liabilities so
growing faster than your liabilities so
growing faster than your liabilities so if your assets are going up then either
if your assets are going up then either
if your assets are going up then either your liabilities or your equity have to
your liabilities or your equity have to
your liabilities or your equity have to be going up so hopefully it’s the equity
be going up so hopefully it’s the equity
be going up so hopefully it’s the equity side and that’s what your your own value
side and that’s what your your own value
side and that’s what your your own value in the business is instead of you
in the business is instead of you
in the business is instead of you financing the growth by taking on tons
financing the growth by taking on tons
financing the growth by taking on tons of debt a new and new owner doesn’t want
of debt a new and new owner doesn’t want
of debt a new and new owner doesn’t want to come into a business and have to pay
to come into a business and have to pay
to come into a business and have to pay off huge amounts of debt so they’re
off huge amounts of debt so they’re
off huge amounts of debt so they’re typically want to look at three years or
typically want to look at three years or
typically want to look at three years or five years growth if you have that if
five years growth if you have that if
five years growth if you have that if you don’t have that then as much as you
you don’t have that then as much as you
you don’t have that then as much as you can but definitely be prepared with your
can but definitely be prepared with your
can but definitely be prepared with your balance sheets because it makes you look
balance sheets because it makes you look
balance sheets because it makes you look a lot more professional makes you look
a lot more professional makes you look
a lot more professional makes you look like a serious business person and it
like a serious business person and it
like a serious business person and it increases the chances that you’ll be
increases the chances that you’ll be
increases the chances that you’ll be able to sell your business and hopefully
able to sell your business and hopefully
able to sell your business and hopefully get a good price for it thank you for
get a good price for it thank you for
get a good price for it thank you for joining me for this video I hope you
joining me for this video I hope you
joining me for this video I hope you enjoyed and it gave you some more
enjoyed and it gave you some more
enjoyed and it gave you some more information about what a balance sheet
information about what a balance sheet
information about what a balance sheet is and how you can use it to make
is and how you can use it to make
is and how you can use it to make important decisions for your business if
important decisions for your business if
important decisions for your business if you did enjoy the video please give it a
you did enjoy the video please give it a
you did enjoy the video please give it a thumbs up below I’d also love the here
thumbs up below I’d also love the here
thumbs up below I’d also love the here at awesome feedback if you want to leave
at awesome feedback if you want to leave
at awesome feedback if you want to leave a comment and stay tuned for the next
a comment and stay tuned for the next
a comment and stay tuned for the next episode
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