Continuing the saga of “time is money…” Last month I wrote about how important it is for the small business owner to know exactly how his/her time gets spent – billable or non-billable, sales development or staff development and list goes on. This month I want to dive into tracking time at the company level. …Read more
When my kids were little (3 kids under 5 with 2 in diapers) a more experienced parent saw the exhaustion on my face and shared, “You know what they say about parenthood – the days are endless but the years fly by.” Two decades later, with millennial children scattered across the U.S., I can attest …Read more
I’ll cop to walking on the fastidious side of the street. And as someone obsessed with the accuracy of numbers, I’ll confess that high attention to detail might run deeper in my veins than it does in yours. I get paid to produce ART after all. ART stands for Accurate, Reliable, and Timely financial information. …Read more
In my work with clients, I frequently hear some variation of “I’m working way too hard for too little money.” Most of our clients are long past start up, so the speaker is often someone who’s running a well-established business. The type of company that outsiders perceive as successful, stable, making it. But when I …Read more
Numbers show up all over the place, in many professions. The magician says, “Pick a number, any number.” The carpenter says, “Measure twice, cut once.” The quarterback says, “I threw it right between the numbers.” I’m curious to know what you have to say about numbers. Specifically about monitoring and managing the numbers in your …Read more
What Can I Learn Today to Improve Our Financial Performance?
You can hear when an engine is running smoothly—or racing or sputtering. The same is true for the financial drivers of your business.
You just need to know what to listen for. The good news is that your numbers are talking all the time!
Here are the best ideas we can find on how to ask your business for the information you need, to understand what it says, and take action on what you learn.
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What’s on Your Reading List?
- The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It, by Michael E. Gerber
- Profit First: A Simple System to Transform Any Business from a Cash-Eating Monster to a Money-Making Machine, by Mike Michalowicz
- Managing by the Numbers: A Commonsense Guide to Understanding and Using Your Company’s Financials, by Chuck Kremer, Ron Rizzuto and John Case