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A Profit & Loss (P&L) statement, also known as an income statement, is one of the most essential financial documents for any business. It provides a snapshot of your company’s revenues, costs, and expenses over a specific period, helping you gauge profitability and financial health. But if you’re not an accountant, reading a P&L can feel like deciphering another language.

Cash flow is the lifeblood of any business. Yet, many business owners and finance teams unknowingly make critical mistakes that put their companies at risk. While profitability is important, even profitable businesses can struggle, or fail, due to cash flow mismanagement. At GrowthLab, we’ve worked with hundreds of businesses to optimize their financial operations. Below are five of the most common cash flow mistakes we see and practical ways to fix them.

Staying organized may be the number one thing to success in financial planning, if not business as a whole. When we first start a relationship with a customer, one of the first few things we often do is create this so-called accounting calendar. Here’s the 6 Steps To Creating Your Accounting Calendar:

As a Small Business CFO, GrowthLab uses our deep financial expertise to analyze data and develop solid strategies that can help you meet (or even exceed) your goals. You can think of a Small Business CFO as your own personal financial consultant.

Our journey began with a deep dive into our core values. These aren’t just words on a wall; they’re the principles that guide how we work, who we hire, and how we serve our clients. Here are the core values that define GrowthLab:

A Fractional CFO improves financial leadership through smart planning and careful analysis. If you want to improve your financial management and earn more, think about adding a Fractional CFO to your team.

SAFE notes and convertible notes are designed to help early-stage businesses raise capital. These tools promise investors that they’ll receive additional shares down the road (unless you use a no cap, no discount SAFE). Eventually, both SAFE notes and conversion notes can be converted to equity and offer a discount and/or valuation cap.

Explore the role and impact of a fractional CFO on your business operations. Get insights on how a fractional chief financial officer can drive financial success.