It is important to understand how your business is performing. However, finding this out is actually the hard part. Most business owners approach this by waiting until the year end tax work is completed and compare results to the prior year. But doesn't it make business sense to also compare your business to how other businesses are going, or compare to your results to the targets you set yourself at the beginning of the year?
It also makes sense to be reviewing your results monthly or quarterly so you know if you are on track or can take action sooner to overcome any emerging challenges. Kennas most successful business clients monitor their numbers regularly, and compare results to last year, industry benchmarks, and targets throughout the year.
The following information may assist you with keeping your business on track to success - 11 Steps to Business Success and The Kennas Financial Success Program.
If you would like more information on how you can implement best practice systems to monitor your business, call Peter or Darren, our business improvement specialists.