Clone of Smashing Numbers Financial Assessment
  • Profit First Instant Assessment

  •  Instructions:

    Step 1: Identify your company's Real Revenue* for the last 12 months.

    Step 2: Pick the column that corresponds to your real revenue in Figure 1.

    Step 3: Complete the Actual column in Figure 2 with your actual numbers for the last 12 months.

    Step 4: Using the percentages indentified in Step 2, fill out the PF% in Figure 2. 

    Step 5: Multiply the Real Revenue number in the Actual column with each PF% and enter the resultant number in the corresponding PFS row.

    Step 6: For each row, subtract the PFS number from the Actual Number and put the result in the corresponding row in The Bleed column. Note: You may get negative numbers.

    Step 7: For the Fix column put the word "INCREASE"if the corresponding The Bleed row is negative number and the word "DECREASE" if the is a positive number.

     RESULTS - The completed Instant Assessment tells you what you need to do with your allocation of money (either Increase or Decrease) and by how much (specific in The Bleed column) for each account.

    *Real Revenue - Real Revenue is the income generated by your company after subtracting the cost of materials and and subcontractors. This is similar to Gross Profit, but does not include your employee labor. Thetotal income of a service business is typically its Real Revenue. The total income for a retailer, manufactureror agency (with many subcontractors) typically need to adjust the total income to Real Revenue.

     

    Figure 1

     

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  • Smashing Numbers is a Profit First Mastery Certified Accounting Firm.

    Kim Logsdon is Your Certified Mastery Profit First Professional.

    | kim@smashingnumbers.com  | 973-224-3333

    These notes are a product of Mike Michalowicz and his companies. These notes are strictly for your own personal use. Additionally, you are welcome and encouraged to freely share these notes, but they must remain in their entirety and original format and may not be altered in any way. You may not copy, duplicate or utilize these notes, in whole or in part, for any other purposes than stated above.

    If you have questions contact Kim Logsdon at Smashing Numbers.

    | kim@smashingnumbers.com | 973-224-3333

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