3. Invest in Proper Accounting
A business can’t grow when you don’t know where your money is going. This means knowing where money comes into your business (ie. revenue streams) and where you are spending it (staff, tools, hosting, etc.). Keeping track of your weekly profit and loss allows you to be more conscious of your financial situation. As an executive you may not have time to manage it yourself (and you probably shouldn’t) but you should have the bird’s eye view at all times.
Did you know your accountant or financial advisor can help you decide targets, goals and breakdown how much you need to sell to keep you on track?
Allow them to use their creative abilities with numbers to help you grow your business. Set daily, weekly and monthly targets so that you can keep your eye on what matters, growing your sales.
If you are throwing away thousands of dollars and not seeing a return on investment, maybe it’s time to cut the cord and move in a different direction. Proper accounting and financial awareness is crucial to growing a healthy, prosperous business.
Think: http://www.acaus.org/ US Association of Chartered Accoutants.
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