Why understanding your business’s financials is essential – and how Pluxee IMM Connect can help.
Coaching executives and senior leadership teams, I’ve noticed that many successful CEOs come from accounting or legal backgrounds. That’s not a judgment—it just seems to be the trend. Even in sales-driven organizations, leaders who master the financial side of the business are the ones who thrive long-term.
Because comfort with P&L statements, cash flow, and forecasting isn’t just a skill—it’s a career-long advantage and a way to increase your chance to make profitable business Allow me to share a personal story about my relationship with business numbers, why that proved to be a win for me and where you can start too if you’re an entrepreneur or a business manager.In business school, I had a curious tendency: I kept signing up for every accounting course I could find. Accounting 101, Intermediate Accounting I & II, Cost Accounting, Tax—you name it. Was I planning to become an accountant? Not exactly. But I did tell my accounting professor that I intended to, just to convince him to bump my grade. I was 20—how could I really know?
As it turns out, I didn’t become an accountant. Instead, I started my career as a professional manager and eventually became an entrepreneur. And while I never became a CPA, those accounting classes gave me something even more valuable: a foundation.
Still, looking back, I sometimes wish I had gone even deeper—maybe even pursued an MBA in financial management. Because understanding the mechanics of how a business makes (or loses) money isn’t just for finance professionals. It’s for anyone who wants to lead.
What I learned as a manager
As a professional manager, I was responsible for profit and loss statements. But truth be told, I was never fully comfortable with them. My focus was always on revenue—the top line—given my background in sales. That was my strength, and it’s where I felt at home.
But as I grew in my role, I began to realize revenue is only part of the story. Understanding cost structures, margins, and profitability would have helped me become a much more complete business leader. I didn’t always admit it, but there were times I wished I had a better grasp on the full financial picture.
What I learned as an entrepreneur
It wasn’t until I became an entrepreneur that things truly came into focus. The word “cash flow” appeared frequently in those accounting textbooks, and I thought I understood it. But as a business owner, I learned its real meaning.
Cash flow, to me, is simple: it’s the revenue that comes in to cover salaries, pay bills, and keep the lights on. No cash? No business. That’s it. I like to say: “cash flow is cash in my jeans”.
That realization was a bit of a shock at first. But over time, I got better. I learned to forecast. To plan. To ask better questions. And most importantly, to keep an eye not just on income, but on timing.
The moment the numbers mattered most
Not long ago, I got a call from my bank. They were reviewing a business loan inquiry and asked how I was doing revenue-wise. They had all my financial statements from the past two years, but what they really wanted was a sense of how things looked right now.
I paused. Then I pulled up my April–June forecast and said, “Actually, we’re trending up this quarter. Here’s what I’m seeing.” It wasn’t overly scientific or complex, but it was confident and clear. And it worked. That moment underscored just how valuable it is to know your numbers—not only historically, but in real time.
The advice I’d give my younger self
If I could go back and give my 20-year-old self some advice, I’d say: take accounting seriously. Not because you need to become an accountant—but because it will make you a smarter, savvier entrepreneur. It gives you control, insight, and the ability to make better decisions.
Here’s where you can start: join Pluxee IMM Connect. To wrap up, having good knowledge about the numbers in your company’s financial situation is essential to making a profit. My advice is to stay informed, be up to date with the latest in the financial area. One trusted source that I’m using is Pluxee IMM Connect, a platform built around the real needs of entrepreneurs, with practical resources to help you navigate the key factors that shape your business. Make informed decisions, turn challenges into opportunities, and drive sustainable growth. Discover insightful resources such as e-papers, webinars, and articles on taxes, fiscal updates, and growth strategies.
Because at the end of the day, profit isn’t just about numbers on a spreadsheet. It’s about survival, sustainability, and strategic thinking. And with the right tools, anyone can learn the mathematics of profit—and put it to work.
Because at the end of the day, profit isn’t just about numbers on a spreadsheet. It’s about survival, sustainability, and strategic thinking. And with the right tools, anyone can learn the mathematics of profit—and put it to work.
💡Ready to connect with a dynamic entrepreneurial community?
👉 Join Pluxee IMM Connect
Paul Renaud
/ this article is a paid partnership /