Surviving the Business Rollercoaster (ep 136)Jul 03, 2023
During this episode, we're talking balance sheets and how you can survive the business rollercoaster. Watch as we dive a little deeper into what a balance sheet is, how it works, and how your business' inventory's involved.
In my book, Inventory Genius, I get into the nitty gritty of balance sheets. You cannot become an Inventory Genius without understanding how inventory fits on the balance sheet. Recession, pandemic, technology - entrepreneurship is a rollercoaster! And I think we all understand this, right?!?
The businesses that last are those that have strong balance sheets. These businesses can weather any storm.
What does this look like? A strong balance sheet shows cash in the account, assets that are correctly accounted for, and little to no debt. I want you to strive for these things in your inventory based business.
Here's a glance at the episode:
[4:15] Ciara shares from her book Inventory Genius and jumps into how inventory works in your balance sheet.
[5:48] What does a strong balance sheet look like?
[17:05] A closer look at inventory in your balance sheet.
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