Robert Kiyosaki Quotes

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.

Companies always have a balance sheet of its assets, but counties do not.

Learning how to keep track of inventory and cash flow and creating an income statement and a balance sheet are great skills to learn for managing existing businesses.

We might make a lot of money but, we also spend a lot of money.

Charge for something and make more than you spend.

It all comes down to money.

Business people do two things with their time fundamentally. The first is that they try to create sales, right? Revenue, key to business. But the other thing they devote their time to equally is cost containment. That is to say, how to not create jobs. Because the fewer jobs you can create for the revenue you create, the more profit you make.

In 1844, there was a balance of perhaps of a couple of thousand dollars on the cr side.

Remind people that profit is the difference between revenue and expense. This makes you look smart.

There shouldn't be budget problems. There is so much money that goes untapped. If every athlete gave 5% of what they earned, there wouldn't be any budget problems.

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.

No man pays double or twice for the same thing, forasmuch as nothing can be spent but once.

I was always taught that book keeping was more relevant than book reading. The only thing worth reading was meant to be a balance sheet.

Our struggle is to identify the sources of revenue and the means to obtain the funds. Without funds, all the planning and research studies can't help us.

The closest thing to a law of nature in business is that form has an affinity for expense, while substance has an affinity for income.

American capitalists, enthralled by the doctrines of finance, have put their income statements in service of the balance sheet.

Margin is a customer concept.

Just make sure that you know what's going on with your money and you know where you money is coming from and how much is coming out and going in.

You have to have commercial income so you can spend on players.

To us, the definition of philanthropy is what we spend. A P&L account means expenditure, lines of revenue. There is a surplus; it goes to the balance sheet. A transparent foundation should disclose this.

I know a few CEOs who delegate the understanding of their financials and their business metrics to the CFO, and then stop worrying about all that 'numbers stuff.' Don't do that. You have to know your numbers inside and out - they are your life blood.

I feel like a lot of entrepreneurs hear all this talk about profitability and realize they need to lower their burn. So, they just start chopping off perks and people.

Cash in must exceed cash out.

The time has come to match outgo to income, instead of always doing it the other way around.

Would you know what money is, go borrow some.