Read over your existing business plan like you read the menu at your favorite restaurant.

I don't like it when I go to a restaurant and I'm lectured from the menu.

For business owners, there are many important documents to learn to read. One of the most important is the profit and loss statement, known as the P&L, and the balance sheet.

I'm like a menu at an expensive restaurant; you can look at me, but you can't afford me.

Based on my pool of coached clients, 90% of the challenges for business owners exist in a lack of personal development.

The Profit and Loss Statement tells you a lot about how your business is doing. It can also help you to determine ways that you can go about saving money so that you get to bring more money home! Basically, the P&L statement measures all of your income sources verses all your business expenses for any given period of time.