Episode 46

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Published on:

21st May 2025

What Your Balance Sheet Actually Tells You About Your Business

You’ve heard me say it before, and I’ll say it again—your P&L isn’t the only financial report that matters.

 

If you’re only looking at your profit and loss each month, you’re missing out on huge insights hiding in plain sight.

 

In this episode, we’re doing a deep dive into the balance sheet—what it is, how to read it, and why it’s the low-key powerhouse behind your business’s financial health. I’m breaking it all down in plain, creative-friendly language so you can finally feel confident reading your balance sheet (yes, really).

 

In this episode, we cover:

✅ What the balance sheet actually is and why it matters

✅ What assets, liabilities, and equity mean (and why they’re more than just “accountant speak”)

✅ How to spot red flags—like negative cash or high liabilities

✅ The real story your equity is telling you

✅ What investors and lenders look at (and why you should too)

 

Whether you’re brand new to reading financial statements or just haven’t looked past your P&L, this episode will show you how powerful the balance sheet can be—especially when you know what to look for.

 

🎧 Hit play now and let’s make this “boring” report your new favorite decision-making tool.

🔗 Resources & Links

Website: https://www.firestormfinance.com/

Instagram: https://www.instagram.com/firestormfinance/

Threads: https://www.threads.net/@firestormfinance?hl=en

LinkedIn: https://www.linkedin.com/in/samantha-e-8796b6176/

Newsletter: https://firestormfinance.myflodesk.com/ajmiv1kyt1


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About the Podcast

Creative Minds, Smart Money: Finance & Business Tips for Creatives
Creative Minds, Smart Money is the go-to podcast for creative entrepreneurs who are ready to stop treating their finances like a side character in their business story. Hosted by Samantha Eck, bookkeeper and fractional CFO, this show breaks down the financial side of running a creative business into actionable steps that actually make sense.

Each week, we tackle everything from pricing strategies and cash flow management to making smart business decisions that keep your creative business thriving (yes, even during those slow months). You'll get real, practical advice on managing your money and growing your business while still having time and funds to enjoy what you love.

Beyond the numbers, we explore the full picture of creative business success - from marketing strategies to efficient systems - because building a sustainable business requires more than just good bookkeeping. And occasionally, I bring in industry experts to share their insights on taking your creative business to the next level.

Ready to turn your creative talents into a thriving business that actually pays you what you're worth? Hit subscribe and let's make it happen.

About your host

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Samantha Eck

Samantha Eck is the powerhouse behind Firestorm Finance, where she transforms messy financials into crystal-clear roadmaps for success. With six years of corporate accounting under her belt, a formal education in numbers, and the street cred of running two creative businesses, she’s uniquely equipped to help fellow creatives decode the story their numbers are trying to tell. When Samantha’s not wrangling QuickBooks, you’ll find her dominating on Xbox or curled up with a page-turner, her husband by her side and her pup Vivi keeping watch. She knows that clarity in the books leads to big, dreamy business moves. Ready to see for yourself? Tune into her podcast, Creative Minds, Smart Money, where she makes money talk feel like catching up with a friend.