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Showing posts from June, 2014

Use These 10 Numbers to Manage Your Business

Use These 10 Numbers to Manage Your Business

How is your business doing?  Can you explain to others what is happening in your business?  It is important that you know what is going on in your business and be able to tell others a story about it. Watching your business results keeps you informed and by having regular reviews with management it keeps everyone sharp in regard to their own performance because they know you too are watching.

Here are 10 things to watch/manage in your business:
First and foremost how much profit are you making that can go in your pocket each period and each year?How much are you selling or revenue are you generating?What is your cost of production?What are your operating expenses?How much do your customers owe you and who and how far are they behind in paying?How much do you owe your vendors and how are you going to pay them?How much do you have in assets to run your business and do you or will you need to add assets or replace/upgrade and when and how will…