Question: It’s tax time again and I swore last year I would get a system in place so I would know what’s going on with my business. Now I realize I’m just not interested in doing all this tracking stuff. Do I really need to do it?
Answer: If you don’t want to do it you can certainly outsource it, but it needs to be done.
The first quarter of the year passed by 2 weeks ago. Do you know where your business stands in terms of your goals for income and growth? For the vast majority of home based business owners the answer would be no. You may be saying to yourself, “compared to what?”
Well, that’s the question isn’t it? What markers have you set in your business to know if you’re doing better than expected, better than last year, better than others who do the same thing? You own a business and it’s important that you have a way to measure and track where you are on a yearly, quarterly, monthly, weekly and even daily basis.
For me it all starts with creating a vision for my life and my business and then designing a blueprint for success. At a minimum you need basic accounting reports.