08/01/2024
Running a business is not for the faint of heart. Not only do you have to provide products or services (What I call, "Working IN your business"). You also have to oversee all of the things that keeps your business running and expanding (What I call, "Working ON your business").
Knowing your current financials is one of those important aspects of working ON your business. But many small business owners think last year's tax forms are the most recent financials they need to make good financial decisions about their business.
Prudent small business owners understand the need to keep their fingers on the financial pulse of their business. They are reviewing their financials quarterly (at least) or monthly (preferred). Having that up-to-date financial information is crucial when making decisions about your business.
How "up-to-date" are your current financials?