Financial Freedom Quiz - Eye on Your Business: Anne Dickinson Business Advisor

Sign up here to access the Financial Freedom Scorecard. We'll take you through a few key questions to help you assess your business.

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Select the statement that best matches your current situation:
COST STRUCTURE*
- I have no idea what my individual products and services cost to make and deliver
- I have a general-ish idea of what each of my products and services cost to make and deliver
- I know the variable costs of a product or service, including labor but haven’t thought about allocating overhead
- I know in detail what each of the elements cost for my product or service and include labor and overhead

Select the statement that best matches your current situation:
KEEPING THE BOOKS*
- I have received overdraft charges and even bounced checks because I think I have money in the bank
- I have received overdraft charges because I think I have money in the bank
- I avoid overdraft fees by keeping extra cash in the bank. I do not keep up with “the books” every day
- My books are accurate and kept up as expenses and income occurs

Select the statement that best matches your current situation:
PAYING BILLS*
- Suppliers require that I pay them up front because my bill-paying practices have been lax in the past
- I am frequently behind in paying my bills
- Sometimes I am late paying the bills
- I pay all my bills on time

Select the statement that best matches your current situation:
DAYS FROM SALE TO $
- Over 90 days. I am WAY behind in collecting money owned to me
- 61 -90 Days I do not have payment policies in place, but do follow up from time to time on late payments
- 31 -60 Days I have payment policies in place but do not always enforce them
- 0 – 30 Days. I make a point of fast billing and collection. I have payment policies in place and enforce them

Select the statement that best matches your current situation:
BREAK EVEN*
- What is "break even?"
- I have a general idea what my break even number is
- I know my average monthly overhead and generally if I am ahead of break even
- I know my average overhead and exactly how many sales it takes to “break even”

Select the statement that best matches your current situation:
CASH IN THE BANK*
- I have less than 30 days of my recurring expense (such as payroll) in the bank
- I have 30 to 60 days worth of recurring expense in the bank
- I have 60 to 90 days worth of recurring expense in the bank
- I have over 90 days worth of recurring expense in the bank

Select the statement that best matches your current situation:
PRICING*
- My pricing is a good deal for my customers, but I do not know if it makes me money
- My pricing at least covers my variable costs
- My pricing is competitive and I am above break even, all costs considered
- My pricing reflects the value I deliver and makes me a healthy profit
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Financial Freedom