Entrepreneurs never struggle with a short to-do list—the responsibilities of a business owner are immense. Most do their best to avoid focusing heavily on small details but may end up ignoring important aspects of business, especially when it comes to the organization’s finances.
Typically, owners focus on propelling their company’s growth by finding new customers and assembling the team and technology they need to manage and service that growth. This makes sense, as the top concern for small businesses in the US (many having scraped by throughout the pandemic) continues to be generating enough revenue.
Beyond these immediate pressures, business owners often don’t take time to think about changing their business practices unless the outcomes would directly affect customers or increase ROI. However, prioritizing long-term projects can significantly improve business health and set up the business for a more financially sound future.