Why this video
A short tour of the three statements you now have: the Profit & Loss (your report card), the Balance Sheet (what you own against what you owe), and the Cash Flow statement — the one that explains how a business can be profitable on paper and still run out of money. Most owners only ever look at the bank balance. You're about to read all three.
What to watch for
Video by LivePlan (Palo Alto Software), played here from YouTube in privacy-enhanced mode. If the player doesn't load, watch it on YouTube. Build Your First Business is published by Family Aspirations and is not affiliated with LivePlan.