Traits of Successful Business Owners

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.

Today the world of sports and the world of business have a lot in common, but there’s one thing in particular that a sporting event and a successful business owner definitely have in common. My name is Michael Barbarita from Next Step CFO providing outsourced CFO Services with your know your numbers minute. Like in a sporting event, a successful business owner is always keeping score. A successful business owner knows their numbers. They know things like their operating costs per hour, they understand their cash cycle, they know their overhead rate, and they track all their numbers on an on going basis. If you want to make better business decisions, and you want to evaluate the performance and productivity of your business you must know your numbers. Having financial dashboards will facilitate this process. And remember, the most successful business owners know their numbers!

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