Our Half-Retirement© program consists of 6 results-oriented steps. The fifth step in our program is Setting the Autopilot. Phase two of this step is Manage by Flash Report.
A Flash Report is a measure of change. It’s a one-page report that helps you assess the key performance indicators of the company. It consists of three sections: liquidity, profitability & productivity. The Liquidity Section tells management about the cash situation of the firm. The Productivity Section gives an indication of the key performance metrics of the business. The Profitability Section gives a rough indication of how much money the company has made during the period of measure.
This report can be created in about thirty minutes by your controller or bookkeeper. To be effective this data should be at least 80-90% accurate and this report should be reviewed weekly or bi-weekly. Flash reports are a game changer in the business world because they allow small business owners, like you, to effectively manage and grow their business.
Our next blog will cover Step 5 – Setting the Autopilot, Phase 3 – Redesign Your Financial Controls to creating your Half-Retirement© blueprint. If you would like to speak with us about our Half-Retirement© program or have a business question or issues you would like to discuss, please feel free to reach out to us via our website Contact page: https://www.paradigmstrategies.com/contact/.