A Finance Expert's 5-Minute Hack to Make More Money in 2025 Jenny Groberg, CEO of BookSmarts Accounting and Bookkeeping, reveals a simple success method.
By Amanda Breen Edited by Jessica Thomas
Key Takeaways
- As of 2022, approximately 35% of small businesses operating in the U.S. weren't profitable.
- Groberg notes that "growth without profitability" isn't a sustainable business practice.
Veteran entrepreneurs know that profit is what drives success in business, yet, as of 2022, approximately 35% of small businesses operating in the U.S. weren't making money, according to Chamber of Commerce.
Even businesses that are growing according to other metrics won't withstand the test of time if they ignore their bottom line. "Growth without profitability is an unsustainable business practice," Jenny Groberg, CEO of BookSmarts Accounting and Bookkeeping, tells Entrepreneur. "Period."
Image Credit: Courtesy of BookSmarts Accounting and Bookkeeping. Jenny Groberg.
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Fortunately, after decades observing business owners fall into a reactive trap — trying to put out the "biggest fire" in the moment rather than making proactive decisions based on financial data — Groberg's developed a simple, actionable way for entrepreneurs to focus on what actually fuels profitability.
Groberg calls her approach "The Final Five," named for the five reports that entrepreneurs should be looking at on a daily basis, even if only for five minutes: profit and loss, accounts receivable, accounts payable, statement of cash flows and sales by client.
The Final Five helps business owners identify patterns, spot issues early and use data — not emotion — to make decisions, Groberg says.
Essentially, the Final Five is about focusing, not doing more. "It's about doing the right things," Groberg explains. "By consistently examining these key metrics, businesses can pivot with purpose, avoid unnecessary risks and create a stable foundation for sustainable growth. This practice has helped many of my clients thrive, even in inconsistent markets."
Related: Revenue vs. Profit: What's the Difference?
Year after year, Groberg's advice for business owners remains the same: Minimize your debt. In an unpredictable market, it's best to avoid unnecessary debt and prioritize strategies that decrease risk and increase resilience, she says.
"Diversify your revenue streams and client base so you're not overly reliant on any single customer or market," Groberg adds. "It's also crucial to have backup resources for your business — whether it's a secondary supplier or additional staff."
Groberg also suggests investing in technology that improves operational efficiency and minimizes risk, especially when it comes to account receivable collections. Offering paper payment options makes it harder to get paid on time — or at all, she says.
Related: 3 Operational Changes That Improve Your Profit Without Spending Any Money
Additionally, Groberg notes that keeping credit cards on file or using other automated payment systems, like Apple Pay or Venmo, gives you back your most valuable resource: time.
