Success Newsletter
Financial Information
I love Dragons Den. It has a host of great lessons for us entrepreneurs….
How many times does a great business idea, with a great business person bringing it, get turfed out of the den with no money, but with the sharp end of the dragons tongue, because of lack of figures that make sense.
The dragons realise that if an entrepreneur runs their business with little or no financial control, the chances of their valuable investment being lost are high. So the solution is to reject the person along with their potentially deserving idea.
This is exactly why we recommend having quality management accounts that can be relied on, at least every month. Quarterly is simply not enough, and both you and I know how much damage can be done to cash flow on 90 days, right?
Monthly accounts allow you to track your performance against your strategy, and make continual improvements to your activities, increasing profitability, value and especially cash. Accept nothing less, your future may depend on it (especially in the current credit crunch).
Good luck.
