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Management Small Business
January 12, 2018
Growth in sales is not an answer to all problems. It seldom is. Failure is usually the result of a management problem often caused by the lack of competent resources to support an over-worked owner. Small businesses are also more prone to competitive and varying market conditions.
Small business owners need to focus on good cash management and gaining an understanding of profitability not just revenue. Selling more is only good if the sales are profitable. I recommend all my clients retain experience accountants or bookkeepers knowledgable in their industry. There are many excellent part-time accountants and bookkeepers available. Whatever the cost, the knowledge gained good cash forecasting and profitability analysis.