Virtual Cathy Blog
Thursday, November 27, 2008
Getting Back Into the Swing Early
It has been over a year since I've posted to my own blog. A friend of mine just recently commented on this to me and said, "Either get something up there or take it down."
As we head into the holiday season, one thing that always comes up is how much family, friends and significant others really mean. We talk about the need to stay in touch more, the desire to start out the new year as a new you, etc.
From a business perspective, this usually means getting budgets and plans in order. My first question is always, do you have any of these completed? If you don't then it's time to consider doing these things.
They can be done very easily through a quick analysis of your business financials. Run a quick Profit & Loss statement. You'll know where you're spending your money and you'll know where you can cut just by getting that macro-level look. I always start there.
Next, look at how you are spending your business dollars. Are you tracking how the money being spent is coming back to you in new business or upgraded business from your current client base? This is another key area that will help you grow your business over the long term.
With the amount of bookkeeping for small business that we do, this is one area where we focus so we can help our clients make smarter choices on expenses. You may not be at that corporate-style budget stage in your business, but that does not mean you can keep spending like your business is a hobby.
This current economy is going to be a challenge but business will continue to be done. Those of us who are ready, have plans in place and maintain good customer service will come out as strong businesses with a great profit to show for it.
With that in mind, you can get that extravagant gift tomorrow morning if you are a Black Friday shopper. Now, click here, so you can plan your early Friday morning shopping.
Cheers,
Virtual Cathy
Labels: business accounting, business planning, financials, new year, profit and loss, Small Business
posted by The Office Grapevine at 9:00 AM
