Time slipping away

It is now past the halfway point in January. In most organizations, the year end results have been calculated and adjustments made to first quarter goals. Where do you stand on finalizing your results? As was mentioned in the previous blog, I believe that the failure to measure results is one of the key reasons that businesses fail.

It is counter intuitive to think that a business owner who claims to be in tune with their business so well that they don't need to formally measure their results. It is through measurement and reporting that business owners can become more intimately involved with the performance of the business.

Start today with the measurement program. Ensure that you have entered all of your 2007 cost items in your accounting software. Categorize the expenses and then run your end of year reports. Closely analyze your expenses and set a budget for the 2008 year by month.

This is usually the point where most business owners start to balk. Why do I need to do all of this they ask? Isn't that overkill for a small business they will ask? It is not overkill and no you don't have to do it. You will do it because it is good business for those that want to be successful. The choice to succeed is yours.

Time is slipping away. Run your reports, give yourself the best chanceto be successful!