At the end of the month, every business owner regardless of size of the business wants to know the answers to five basic questions:
- How much money did I make? Failure to monitor your financial position is one of the biggest reasons why business’s fail.
- Where did the money go? The big expenses you may know about but sometimes it is the small ones that are out of control and draining your profits
- How much money should I have made? Simple, results versus expectations. Are you surprised?
- What do I have to do to make the money I should have made? Let your financial results spur you into action. Set goals and expectations.
- Am I in compliance with all federal, state and local tax filings? Being in business is hard enough without the government on your back.