How Healthy Are Your Books? Here are Six Questions to Unlock Answers.
I visited a friend the other day who runs a well-organized business and keeps a meticulous office. Every desk is tidy, every scrap of paper is in a binder or folder, and everything is labeled and filed alphabetically and by year.
And yet, despite all this organization, he never quite feels in control of his business. Sure, the organization gives him good control over the workflow and processes, but he could not answer the basic business questions he had about cash flow, profitability and pricing. Despite all the binders and folders, he could not get reliable answers out of his accounting system and so could not make good decisions about the future of the company.