Unlocking Financial Insights: How Small Business Leaders Can Harness the Power of Profit and Loss Statements

Published on: 22nd May, 2023

In this episode, Vincent delves into the topic of understanding the profit and loss statement for small business leaders. The profit and loss statement, or income statement, is a financial report that outlines revenues, costs, and expenses over a specific period. The episode breaks down the key components of the statement and gives some insight as to the significance of understanding this statement.

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About the Podcast

Advantaged Business Solutions

Craft Vision | Establish Audacious Goals | Build Strategy

Welcome to Advantaged Business Solutions, the podcast designed for you as an entrepreneur and leader to turn your dream into a reality through the creation of a robust vision, setting audacious and challenging goals, and building winning strategies to get you to vision fulfillment.
My aim with everything is to provide the greatest value possible to build you up as a leader. I want to offer you a different perspective than you may hear elsewhere. That’s not to say that my perspective is better or more advanced in some way, but rather, different.
When you put together varied perspectives you become wiser. You can take in a lot of data, but until the data becomes information that translates to knowledge, which then transforms into wisdom, you will be lacking in your decision-making.
That isn’t to say your decision-making is inferior but think about the process that I just described, data > information > knowledge > wisdom. When you reach the point of putting knowledge together, you become wiser and therefore make more timely and accurate decisions.
I want you to know that my heart is to serve, and I want to serve you through this podcast.

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About your host

Vincent Ream

Vincent is by nature a teacher and trainer. He has a dedication to see leaders be confident, empowered, and expectant of success in their ability to lead. He is also passionate about small business owners and organizations thriving in their local communities. Vincent is a results-oriented leader with 20 years of experience applying a unique mix of critical and strategic thinking, problem-solving, and coaching individuals and teams in high-stress environments. He is detail-oriented and has the ability to help leaders, small businesses and organizations focus on and achieve their goals.