Case Study: One Understanding Financials Class Can Boost Your Business

by the Storen Team | Oct 7, 2024 | Businesses, Case Studies, Resources, Resources for Businesses

Solve Big Pain Points in Your Business with Education

Oftentimes, business owners come to us with pain points that can significantly impact the trajectory of their business and their tax liability. One such situation recently occurred when a client attended one of our Understanding Financials classes and found that it was much more informative than other classes she’d previously attended. Here’s why…

What are our Understanding Financials Training Classes?

Learning how to read and interpret financial statements is crucial for business owners who want to increase sales, reduce costs, and shift where they’re spending their money. For that reason, we created our Understanding Financials class to ensure that business owners have an accurate and easy-to-understand picture of their financial status. During this class, clients dive deeper into the Profit and Loss statement and Balance Sheet to determine their company’s worth, end goals, and more. (Click here to learn more about this class.)

Business Owner Learns More in Storen Understanding Financials Class than in Weeklong Training

Recently, a client attended our Understanding Financials class with the intent of learning more about the Balance Sheet and how it explains what bankers have said about her business. She was also in the process of buying the entire business from a family member but wanted to ensure that it was worth what they claimed. After our Business Service specialists reviewed the company’s Balance Sheet and Profit and Loss statement with her, the client knew how to determine the business’ worth before buying or selling it. Additionally, by reviewing this data, she could understand the business’ tax debt even better.

By the end of the training class, she excitedly mentioned that she was walking away feeling more confident in understanding her financial reports and the operations of the business than she had after taking another company’s weeklong, 40-hour class that was intended to achieve the same result. What’s more, attending our single class enabled her to understand what lenders were saying to her about the business so that she could confidently decide on the next steps.

How do we achieve these results? During our training courses, our team doesn’t just pull data from vague examples. We use real-time numbers because we know it’s easier to learn and retain information about your business if the data is actually from your business. We complete a year-over-year comparison to see how the decisions you make affect your financials over time. By reviewing your business financials, we can effectively walk you through the answers to your questions, with the goal that coaching you through real mistakes can lead to real successes and the improved overall health of your business.

Want to learn more? Attend our courses…

If you’re looking to boost your business knowledge and are unsure where to begin, our Understanding Financials course, Introduction to QuickBooks Online course, and QuickBooks Online Workshop are great places to start. With the knowledge you’ll gain, you will have greater confidence in what is currently happening within your company, and you’ll be able to work toward your end goals. (Click here to learn more about these training courses.)

Have questions? Contact our team at any time to discuss any questions you might have (Click here for contact information). Or learn more about our Business Services (Click here).

Blog by Erika Lewis – Business Services Director

Learn more about Erika and the rest of the Storen Financial team here.