The Profit Assessment
A Simple Tool to Make Sense of the Not-So-Simple World of Food Business Finances
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Getting Started
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Complete Your Profit Assessment
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Lesson 1: Pulling Your P+L Report
In this lesson, Sarah provides a step-by-step guide for pulling your P&L by month, for the last 12 months and shows you how to transfer your financial data into the Know Your Numbers template.
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Lesson 2: Pulling a Cost of Goods Sold Purchase Report
This lesson is ONLY for businesses that utilize Accrual Accounting
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Lesson 3: Categorizing Your Income + Expenses
In this lesson, Sarah walks you through the income and expense categories you’ll use and how each is defined.
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Lesson 4: Pulling Your Owner's Pay Report
If you receive payments from the business via the Owner’s Draw method, watch this video for Sarah’s step-by-step instruction on how to calculate your total Owner’s Pay for the Profit Assessment.
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Lesson 5: Pulling Your Debt Service Report
Sarah covers the effects of debt service on your cash flow. This lesson is recommended if you want to use the Cash Flow Planner.
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Assess Your Profitability
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Next Steps
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Lesson 1: Determining Your Plan of Action
Follow along in this lesson, as Sarah walks through the Decision Tree step-by-step and adds context to the Action Steps.
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Lesson 2: Utilizing the Cash Flow Planner
In this lesson, Sarah guides you through creating a rollout plan, tracking your progress & setting budgets
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Congratulations!
Meet your instructor
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Meet your instructor ✳
Sarah Delevan, The Good Food CFO
Sarah Delevan began her career in Food Business finances over 7 years ago, serving as a CFO consultant and coach to over 75 brands. In that time she developed her own financial philosophy that has helped countless founders gain control of their finances, improve their profitability, and grow financially sustainable businesses.
She is also the host of The Good Food CFO Podcast, where she challenges the “industry standards” championed by traditional business media, and breaks down the financial concepts that impact the bottom line of Good Food businesses across the country.
All of this real world experience has lead to the development of the free & low cost resources offered here at The Good Food CFO. These tools are designed to support you in gaining financial confidence and building a business on YOUR own terms.
What you’ll learn
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We walk you through exactly what numbers you should be analyzing to understand where your business is today.
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You’l work through a process that was developed based on first-hand experience as a food business owner, and has been refined and perfected through extensive work with founders just like you.
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You’ll go from second-guessing yourself to making confident, informed decisions based on solid data.
Course FAQ
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The Profit Assessment is designed for Good Food Founders who have the vision for their business, but:
Are feeling stuck financially
Are not seeing profits, even as sales have increased
Aren’t quite sure when their money is going
Every time they look at their financial reports, or open a spreadsheet to set targets and make decisions, overwhelm sets in.
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Nope! The Profit Assessment template is an easy-to-use Google Sheets template that can also be downloaded to Microsoft Excel.
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As an expert Excel & Google Sheet user, I can confidently say that you DO NOT need to be an expert to use this tool. The layout is simple, and there are no formulas or special skills needed to build your custom bundles and discounts.
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Every business is different, and while I know this tool is easy to use, you may have questions specific to your business that you want to ask. CFO Office Hours are a great place to do just that! With a Monthly Pass you get access to one-on-one coaching in a small group setting (5ppl or less).
Learn more about CFO Office Hours