Entrepreneurs are more likely to plan for the future than evaluate the past. But how can you fix something when you don't know it's broken? How will you celebrate achievements when you don't realise how significant they are to the big picture? If you do not conduct a review mid way through the year, it's likely you'll begin January with the same troubled systems, processes, and problems.
We've got a whole load of tips we could share with you to help you achieve your business goals but let's start with some fundamentals, which we find really helpful when advising businesses - Keep it SIMPLE and SMART.
Running a small business can often feel like a mouse on a wheel. Lots of activity, lots of money in and then lots of money out. So, how do you know if your business is actually profitable?
Here we take a look at how to give your business a bit of a financial health check and determine just how profitable your business is. There are several indicators which you need to review.