Most small businesses develop from an idea or vision by an entrepreneur who has a particular skill, trade or special interest. While you focus on realising the dream, you try and balance the demands of the various areas of the business – sales, marketing, service delivery, manage staff, paying creditors, collecting monies and the like.
But one key function is often treated as an after-thought or burden – the need to keep up-to-date records, or “bookkeeping”.
Over the coming weeks we’ll be posting some of the most common mistakes or areas most overlooked when it comes to managing and knowing your business – and we provide illuminating suggestions to help you gain better insight and control. In fact these are not simply bookkeeping mistakes – they can be failures in management.
Check back in on Monday next week for tip number one, it might just be what the doctor ordered for your business!