Even when you do know the number, it’s only a starting point to understanding your complete financial picture. There may be untapped potential in your balance sheet that could increase your bottom line immediately if only the right strategies were set into place.
Put untapped potential to work
Many people fail to uncover the hidden value in their balance sheet because they’re following conventional wisdom that doesn’t fit their unique circumstances. The Living Balance Sheet®, in the hands of your chosen financial representative, takes an entirely personal approach to establishing your real net worth and maximizing it.
Use The Living Balance Sheet® to delve into the fine details of your finances and gain a clear understanding of your four financial domains (Assets, Liabilities, Cash Flow and Protection) and how they work together. By increasing efficiency, you may be able to increase your wealth and in turn increase the future Cash Flow that comes from that wealth.
The challenge for business owners
As a business owner, you’re faced with the question: How does enterprise value translate into real value? When you aggregate all your financial data and take an in-depth look at your eight financial domains (Assets, Liabilities, Cash Flow and Protection for both your business and your life), you may discover that the value of your business is greater than you realized.
This is especially important to know if you’re considering making a change. You may want to sell your business, pass it on to the next generation, or even simply close it. Your financial representative can help you use The Living Balance Sheet® to test strategies and see how selling your business or making other decisions will impact your financial well being.
If you’re working on growing your business, The Living Balance Sheet® can help you balance your personal and business financial goals, making sure you’re not building your business at the expense of building your wealth.