For the Director

I always look at the day after tax day as a new beginning. I think the spring season has something to do with it, but it is also the reality that many small business owners will now finally start to focus on the numbers for 2013. In the past couple of months, I have spoken to several small business owners who, at the time, still didn't know how their businesses performed in 2012. They were waiting for their tax accountant to complete their tax return to see if they were profitable or not. We were well into 2013 during our discussions and it really had me concerned that they couldn't tell me if last year was a good year or not. How were they possibly managing their numbers this year! They probably had a gut feel based on cash in the bank, but a gut feel will not give you the information needed to improve and grow your business.
Running a business blindly from January 1st - April 17th does not make sense and there is no reason for it. Now is the time for new beginnings. In 2013, get your accounting in order. Learn to use your accounting software or switch to something more user friendly. Find an accountant who will look at your bookkeeping on a monthly basis, or at least a quarterly basis, to ensure you are working with accurate numbers. Make sure you can generate financial statements each month and that you understand how to read them. Is your business growing and getting more complex? Consider getting a POS (point of sales) software that can help you keep better of your sales, expenses, or inventory. Equip yourself with the right tools and professionals to help you effectively manage your finances. This is the perfect time for a new beginning. Change the way you manage your business finances in 2013 and you will see a positive result.

To view the current newsletter in its entirety click this link.