Three important financial performance indicators for a new business owner to monitor are: 1) Gross Profit Margin, which helps determine the profitability of your products or services after accounting for costs of goods sold; 2) Operating Cash Flow, an indicator of the business's ability to generate cash from operations, important for meeting day-to-day expenses and debts; and 3) Current Ratio, which measures the business's ability to pay off short-term liabilities with short-term assets, providing insight into financial stability.
You are a financial analyst giving advice to someone starting their own business. What are three key financial performance indicators that they should monitor closely?