How do you know how it’s going?

So, how’s business? 

It’s a question I get asked a lot, and I’m sure you do too. It can be a tricky one to answer, and it got me thinking. How do we know how the business is doing if we are so immersed with the running of it? Luckily, I know a great bookkeeper 😉. 

No, seriously it can be tricky, but it’s probably the most critical question that as a business owner, you should know the answer. So many business owners use how busy they are like a barometer to how they are doing, is that such an odd way to quantify it? I think when you’re busy and in the thick of the action, so to speak, it’s the only the way. 

Of course, it’s not a great way to work out how you’re doing, it’s fraught with possible errors none more so than it doesn’t include actual numbers.  Being busy is great, as long as it’s good busy. It can be so easy though to just sort the day-to-day issues and not think about the bigger picture, the numbers. 

It is essential to know your numbers, have a plan in place to keep the books as up to date as possible, sometimes little and often works best. Try and make sure that’s in place right at the start and then take regular time to understand what they mean, look for trends, sometimes the answers to why something isn’t working can be right under your nose. 

Your brilliant at what you do no doubt but just make sure you have the numbers covered, you won’t regret it, and when someone asks you how it’s all going, you’ll know the answer for sure.  Good luck. 

Share post

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Share on email

Blog posts

Most recent posts

Accountancy & Tax

How do you know how it’s going?

So, how’s business?  It’s a question I get asked a lot, and I’m sure you do too. It can be a tricky one to answer, and

Payroll

Do I employ or outsource my Payroll?

Outsourcing has been around for a long time. Initially introduced in the 1980’s but we think it’s safe to say that it has really taken off

Bookkeeping

Bookkeeping mistakes & how to avoid them

We all make mistakes in our day-to-day life, and that’s no different when running a business, the key to making any mistake is to learn from it.