Over the next Several Weeks we will be posting a new and different one-minute video providing business tips and instructional commentary for small business owners. These tips will range from key metrics to consider to the importance of Business and Cash Flow Forecasting.
Think about this: If you expect to beat your competition, you must have better financial information than your competition does!
My name is Michael Barbarita from Next Step CFO providing outsourced CFO Services with your know your numbers minute.
If you have better financial information than your competition then you will make better business decisions than your competition and you will know things they don’t know.
But Having accurate and better financial information not only includes having an accurate income statement and balance sheet. It means having what is called financial information infrastructure which includes things like a business and cash flow forecast, accurate product and service costs and complete sales information. It’s Financial information Infrastructure that will give you a competitive edge.
And Remember, the most successful business owners know their numbers.