Know your Numbers
One of the most fundamental aspects of running a successful business is the ability to
understand how the figures stack up, and how to forecast what your profit is going to be.
There are 3 types of business people:
Bill – has an innate...
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Know your Numbers
One of the most fundamental aspects of running a successful business is the ability to
understand how the figures stack up, and how to forecast what your profit is going to be.
There are 3 types of business people:
Bill – has an innate ability with numbers. He has an accountant he sees once a year, but
basically he and his partner run the day to day numbers. The Local Bookkeeper visits Bill
once a quarter to complete his VAT return, and produce quarterly management reports. – His
business is very successful.
Bob – Is excellent at marketing and selling, and can see the sales are growing favourably,
however does not understand about running a business and profit – the business will struggle.
Sandra – is passionate about her product and knows how it will be a benefit to a wide range
of customers. Sandra has never has been good with figures, but has the insight to know that
forecasting your profit is very important, so she hires a Professional Bookkeeper from day
one! The
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