Newspaper article Sunshine Coast Daily (Maroochydore, Australia)

Risks Are Necessary

Newspaper article Sunshine Coast Daily (Maroochydore, Australia)

Risks Are Necessary

Article excerpt

Keeping a close eye on a business is of major importance to any business, which may seem obvious, but it's surprising how many business owners have no idea of their month-to-month performance.

All well-run enterprises, be they a small mum and dad cafe or a large conglomerate, have their finger on the pulse.

With the new Xero accounting system recently becoming popular, it is now even easier to find one's key performance indicators.

All business coaching starts with an assessment of the current financial position of a business and then starts a program to improve each performance category.

Bookkeeping is the bane of most business owners' lives, especially "first timers".

Often a new business owner will decide to do his or her own bookwork, which will be the first mistake they'll make.

Spending time on bookwork might save them the cost of a bookkeeper, but it is a false economy.

Delegating such non-productive, mundane necessities is the first lesson for a new owner. …

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