Most business owners are not comfortable or confident looking at the numbers in their business.
“Numbers are the language of business” and if you want to learn how to run your business better, then you need to learn how to speak the language.
Being able to read and interpret the numbers will put you light-years ahead of most business people.
It will give you amazing insights into your business and it will help you to make quicker and more informed decisions, which will definitely lead to better results.
Here are the key numbers and reports that you need:-
• Monthly Profit & Loss report
• Aged Debtors (or Receivables) report
• Aged Creditors report
• Stock levels
• Break-Even Point (so easy to calculate)
• Measures to track that the right activity is getting done
* Productivity measurement
* Key ratio's such as Gross profit, net profit, wages, fixed expenditure, rent.
Know your numbers and your business will be much more successful.