The TE Quote:

“One reason so few of us achieve what we truly want is that we never direct our focus; we never concentrate our power.”
- - Tony Robbins

TE Mistakes:

Mistake #17 -
You Are Involved in a Bad Partnership

Mistake #23
You Have Poor Time Management Skills

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Mistake #5
You Do Not Understand Your Company’s Financial Statements
Page 34

I have found this to be one area where many small business owners really miss out. If the measurement of your company’s financial strength is having enough money in the account to make payroll, you may be a victim of this Mistake. On a serious note, if you do not understand your financials, you probably do not understand your Key Performance Indicators (KPIs), which translate to flying blind and winging it in multiple areas of their business.

Small business owners are notoriously apathetic when it comes to their financials. Many rely on the “CPA/Bookkeeper Crutch” where the owner knows he will be handing over the books to a professional on a regular basis and they need not bother with it.

In my coaching practice, I use a powerful tool called Fintel® Financial Analysis. It produces a report that is equivalent to the blood work for the business being analyzed. More information on this tool is available at:

IN THE BOOK I discuss the importance of developing a better understanding of your financial statements and offer some easy ways to begin the learning process.

One Solution Offered in The Termite Effect:

  • Make employees aware of what products have higher profit margins and compensate them more for selling those products.