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Financials Simplified
An Entrepreneur's Guide to Profitability
by
John L. Ugyan
In the competitive landscape of small business, the pursuit of profitability isn’t just a goal – it’s a necessity. The unfortunate fact is that most small businesses don’t make it to the five year mark, and many owners struggle to make ends meet. Paradoxically, these failing ventures often achieve impressive levels of revenue, but fail to turn a profit. One major reason? A lack of understanding of the crucial figures that lie between sales and profits – which ultimately shape the bottom line. They tell you how your business is doing, where you’re making money, and where you’re losing money. Fortunately, mastering these essentials is not difficult. This booklet was written in simple language specifically for those lacking basic statement knowledge – and no math or accounting skills required. You’ll see that the fundamentals are uncomplicated, and that profitability can often be achieved by merely tweaking some key numbers or processes. For example: • A tiny price hike can lead to a disproportionate boost in profits. • It’s possible to increase prices without losing any customers. • Simple graphs can demystify the most complex numbers. This concise guide is short and sweet, simple, and actionable. One hour invested in reading it can transform your business, elevate your profits, and reduce your stress load.
Born in Hungary, John and his family escaped during the 1956 uprising against communist rule and settled in Canada, a country offering freedom and opportunity. Despite a rocky academic start, including dropping out of high school, he subsequently found his footing in the financial industry. But, unfulfilled as a commercial credit analyst and branch manager, John left to start his own business. While his initial attempt was an utter failure, he didn’t give up. Instead, he persevered and created a $100 million business. John enjoys reading, chess, biking, and has a lifelong passion for soccer. Since selling his company in 2011, he and his wife have spent summers in British Columbia, Canada and winters in Mexico – where he continues to play old-timer soccer.
Contributors
- Author
- John L. Ugyan