• Molly Ramsay

Financials


Episode Summary


In previous episodes, we have talked about month-ends, budgets, and more, but we haven’t tackled the big topic they all have in common: Financials.

On this occasion, Jay is here to spill the beans about financials and why having these reports is important. Having insights is incredibly important to see how operational decisions are affecting financial outcomes. There are a lot of things that we can streamline and not overburden the system. Financials are, in the end, a reflection of the operational decisions taken.

Join Jay, while he gives us a detailed breakdown of the financial aspect in the management department!



Key Take-Aways

  • Financial reports create insights to help you get better.

  • Remember: “No margins, no mission”.

  • Budgeting and Forecasting help foresee possible financial outcomes to our actions.

  • Have spreadsheets to do these forecasts, and update them when needed.

  • Having accounting systems in place will simplify your work.

  • Budgets make you think about the operational and financial processes of the company.


Resources

  • Know more about MedMan here




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