Successful business owners closely monitor EVERY aspect of their business at all times. A status report can be produced on anything at any time. Can you do that?

Some of the things that can and should be monitored are:

  • Cash Flow Statement
  • Profit and Loss Statement
  • Accounts Receivable
  • Accounts Payable
  • Each Advertising Campaign
  • How effective every step of your business is
  • And more.

Top business people I know have a daily checklist they go through.

They don’t just look to see which products or services are still selling. A report is generated for the last week, 2 weeks or month to see the general trend for each product or service.
Every business has a beginning, a middle and an end and the same is true for every product or service. By knowing EXACTLY where each offering falls on the scale, the advertising, production, etc. can be adjusted so you can maximize your profits through the whole cycle. If you don’t stay on top of the data coming in, you might spend the majority of your profits trying to make sales when the demand is waning.

By staying on top of your financial statements, you can more accurately make your quarterly deposits for your estimated taxes, you’ll have a better idea of how much you can afford to spend on education, for business growth and for luxuries.

Your financial statements let you know how well you are progressing towards your stated goals and whether you are sticking to your business plan.

Ad tracking lets you know which ads are getting eyeballs and converting them and sales tracking for each product or service lets you see where it stands in its lifecycle.

Your website stats will tell you which search engine spiders visit and how often. They will also tell you which words or phrases were used to find you, where visitors originated and how long they stayed.

The more you track EVERY aspect of your business the more you will know exactly where your business stands.

Are You Sure You Are On Top Of Your Business?

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