4 Pillars of Financial Success
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4 Pillars of Financial Success Sherrell T. Martin Empower 2 Thrive, LLC
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Knowing the 4 pillars to financial success will help you build and maintain a financially thriving business.
Transcript of 4 Pillars of Financial Success
4 Pillars of Financial Success
Sherrell T. MartinEmpower 2 Thrive, LLC
46% of small business failure caused by:
•They don’t know what they don’t know•Poor pricing•Tax evasion•Poor recordkeeping•Overspending•Failure to plan
There are 4 financial strategies
that will help prevent your
business from failing.
Every business needs a strong
foundation.
Financial Success Pillars™
Financial Recordkeeping
Financial Management
Financial Systems
Financial Strategy
Financial Success Pillars™
Financial Recordkeeping
Financial Management
Financial Systems
Financial Strategy
Financial Success Pillars™
Financial Recordkeeping
Finding Leaks
Financial organization
Financial Success Pillars™
Finding Leaks
Look at your numbers. This is a sure fire way to
find money in your business. Seek and you
will find.
Financial organization
Follow a clear cut system to keep everything in order. No accountant
wants a box full of receipts.
Financial Success Pillars™
Financial Recordkeeping
Financial Management
Financial Systems
Financial Strategy
Financial Success Pillars™
Financial Management
Reduce Costs
Increase Revenue
Financial Success Pillars™
Reduce Costs
Analyze your costs. Research other vendors, services and ways to do things. You never know
what you will find. Spend responsibly.
Increase Revenue
Increase your top line by creating a strategy to match your budget to your marketing plan. How do you plan on
generating more income?
Financial Success Pillars™
Financial Recordkeeping
Financial Management
Financial Systems
Financial Strategy
Financial Success Pillars™
Financial Systems
Business Process Improvement
Standard Operating Procedures
Accounting System
Financial Success Pillars™
Business Processes/ Operating Procedures
Document everything and enforce them. How can you operate more efficiently? Identify the holes and
breakdowns and plug fix them.
Accounting Systems
Use an accounting system to track everything. It
reduces errors and allows you to easily and quickly monitor your numbers so you know what is going
on in your business.
Financial Success Pillars™
Financial Recordkeeping
Financial Management
Financial Systems
Financial Strategy
Financial Success Pillars™
Financial Strategy
Pricing
Breakeven
Comparative
Financial Success Pillars™
Pricing / Comparative
How your prices comparative to your competitors or did you
pull them from thin air?Calculate the price point at
which you cover your costs and a markup percentage.
Breakeven
How much does it cost to run your business? At what point will your business generate a
profit? You need to know the bottom line number it
takes to keep the doors open by month and by
year.
Financial Success Pillars™
Financial Recordkeeping
Financial Management
Financial Systems
Financial Strategy
Thank you all for allowing me to share these tips with you.
Feel free to connect with me in the social world for more tools, tips and resource that
will make your life and business a thriving one!
Thank you!
www.facebook.com/Empower2Thrive
@Empower2Thrive #thrivefinancially
