The “Game of Business” is a metaphorical representation of the challenges and rewards of running a business, where success requires understanding financial data, making strategic decisions, and adapting to changing circumstances.
Primary Implication
Owning a business is not for the faint of heart. It takes a unique person to work through the risk and uncertainty they face daily to make a sale that earns a profit that results in cash in the bank. Just like the best athletes in the world train with coaches to improve the quality of their play, you too can work with business professionals who can quickly confirm what’s working well in your business, where you are getting stuck, and what you should do differently.
If you are unsatisfied with the amount of cash you have in the bank, it’s time to change how you play your game of business. Retaining some outside perspective will help you improve the quality of your play.
Overview
Every business starts with cash, which is invested in various ways to generate revenue. Ultimately, the revenue is turned back into cash, and the cycle begins anew.
Each completed business transaction produces data that forms the financial reports used by your accountant to calculate your financial position for tax liability purposes. Those who choose to play the game of business to win recognize that these same financial reports can be used for so much more. They know that their financial data can help them build sustainable operating cash flows and higher profits.
You best play the Game of Business to win, starting with knowing the game’s core elements and how your play’s quality is scored. Without this understanding, it’s hard to know the next smart move to make if you don’t know where you are in the game. Your financial statements give you what you need to play your game of business smarter today than you have ever before. Do this, and you can achieve financial freedom just like those playing professional sports at a high level.
