Episode 8: Financial Debriefs
Financial Debriefs
Welcome back to Full Throttle Finance™️, a financial literacy podcast geared towards dissecting complex financial topics with a motorsport twist.👊✊💨 We are committed to helping you strengthen your financial foundations for athletes, entrepreneurs, and business leaders alike. Whether you’re running a well-established operation or just starting out, we are here to help you drive better financial performance. 🏍️
✨Recap - In our previous episode, we talked about budgeting strategies for race season. How you can leverage previous race seasons and watch your competitors to build a stronger foundation for yourself. We also talked about how you can use the Profit First method to help you manage you resources more effectivly. We also wanted to remind you that we have our course our “Revving Up for Financial Success” that is tailored to help you created budgets, forecast revenue, and has tons of downloadable content to help you succeed in your racing season.
This week, we wanted to go into more detail on the importance of starting your year out strong.💪 If you will keep up with your financial reviews either monthly or quarterly you can really see where your money is working for you! It also shows you what needs fine-tuning.🔧 By proactively addressing potential issues before they occur you can maintain a healthy cash flow and stay ahead of your competitors.
Frequent check-ins✅ help you to spot budget issues early and make swift, informed decisions, which is an invaluable advantage if you’re seeking new financing or investment opportunities down the road. As Felicia emphasizes, real-time oversight of your finances helps avoid unwelcome surprises and ensures your financial data is accurate.
Efficiently managing your financial reviews begins with categorizing every business transaction. Clearly labeling 🏷️expenses such as fuel, travel, or meals this adds clarity to your financial picture. Next comes reconciliation: verifying that all records align with bank statements, credits, loans, and liabilities. This step helps you catch any discrepancies or missing data promptly, giving you a true snapshot of your overall financial health.
We understand that each client’s needs are unique. Every month, we finalize the previous month’s details and generate customized reports that offer tailored insights into cash flow and financial statements. 📃Through video briefings or real-time sessions, we ensure our clients not only understand their numbers but also feel confident about their next steps.🙌
Rather than viewing monthly or quarterly reviews as tedious tasks, treat them as opportunities shift your mind set into this is a good thing and you are excited to see how your goals are progressing. Small, consistent goals and regular progress checks create a positive financial narrative that propels you forward. Our course, “Revving Up for Financial Success,” provides the knowledge and tools you need to build and maintain strong financial foundations—especially in the fast-paced world of motorsports. With lifetime access and continual updates, it’s an investment💸 that pays off long after the checkered🏁flag has waved.
💞We really appreciate your support and we hope you are enjoying this podcast. Please help us grow this podcast we can help others like you manage their money more effectivly. Please like, subscribe, rate our podcast, comment, share and we will see you next Friday ✌️
