EP10. Business Profitability Advice by Ruth King

As a seasoned, serial entrepreneur she helps businesses get and stay profitable. Since 1981 Ruth has owned eight businesses including Profitability Revolution. She grows her own businesses as well as coaches, speaks and helps other small business owners reach their goals.

After twelve years on the road, she found a better way to reach entrepreneurs who want to build their businesses. She began Internet training in 1998 and began her first television broadcasting in 2002. Her latest channel, Profitability Revolution, broadcasts ideas, news, strategies and other information that matters to small business owners 24/7.

Ruth also started the Decatur, Georgia branch of the Small Business Development Center, founded the Women’s Entrepreneurial Center and taught a year-long course for women who want to start their own businesses.

She holds an MBA in Finance from Georgia State University.

All right, get ready for Ruth to give us some profitability tips to help our businesses grow, right here on Revenue Chat.

=Highlights=

• When do small business owners really begin to understand the financial side of their business?
• What is most important: cash, cash flow, or profits?
• What financial information do you really need each month?
• What is the difference between cash based and accrual based accounting and which one should you use for your business?
• What is net profit per hour and why should you manage your business by this method?
• Why is the balance sheet more important than the P&L?
• What are the most common mistakes on a balance sheet?
• What is the best way to keep the honest people honest so they don’t steal from you?
• Why should you never allow your bookkeeper to sign checks?

This is a very cool interview with Ruth King, Best Selling Author and Profitability Master!