It’s not old news that most people dislike the tediousness of bookkeeping and accounting. This is an especially true for those who are motivated by the excitement of product, services and everyday dealings of running their business. However there is something to be said for learning to love accounting –
An article in the Globe and Mail hits on the importance getting your head into the numbers on a monthly basis. By measuring your efforts in dollars and percentages you are more knowledgeable about what is (and isn’t) working positively for your business. If certain products are not selling, or overhead is too high you are staring right it –> and can then solve the problem. It is when these small issues compound over months which then turn into big problems.
Many of the clients we work with here at Merchant Advance Capital are number geeks like us. When presented with their advance offer they run the numbers on profits they can make with more inventory or adding an expansion to their current business. We highly encourage this number-nerd activity! It is with properly managed capital injections that we have seen the biggest growth from our clients. Check out the article – it might be time to get your head back in those books!