Unlocking The Secret Of Living Rich | Money Mastery | Financial Freedom

One of the biggest mysteries of my business is that most of my clients do not want to review their financial statements monthly or even quarterly.  Is it because they trust us so much?  No. Is it because we are so good at keeping their books? No. Is it because I have assured them I will “watch out” for their business? Sadly no. It is because they do not understand the elements of their statements and this is backed by research.  A 2019 SBA report showed that over half of small businesses were not reviewing their financial statements. And of that 50%, 86% were experiencing financial difficulties. Why? Businesses weren’t reviewing their statements … because they didn’t understand financial jargon. This week we are going to have a quick lesson in financial terms.  I am putting the full podcast in the show notes this week, so use it as a reference while you’re working with your accountant or while going over your books each week, month or quarter. First the easy stuff: Income Statement Your income statement is