The time has come to wrap up 2018 and hand off your financials to your tax preparer. Now that you (and/or your bookkeeper) have poured over 2018 to ensure that everything is complete and accurate, it’s time to take a step back and really look at how your business performed last year.
Did you grow your sales? Did you grow them faster, or slower than you had anticipated? Did some customers grow more than others? Which customers were your most profitable? How about your expenses? Were some expenses higher than you thought they would be? Why? Is there something different you could do to better control those expenses in 2019? What choices are available to you? How were your profits? Higher than expected, or lower? Where are the opportunities for improved performance in 2019?
These are all critical questions to pose. When you know your numbers, you can make informed choices about how to improve your business. At ZümiFi, we have always believed there are only two reasons to do bookkeeping –
- compliance (i.e. the government makes you, which is a pretty low threshold actually) and
- to help you understand your business performance so you can make informed management decisions.
Don’t miss this critical opportunity to step back and review your 2018 performance. Dig into it. Glean learnings about where your business is strong, and where you can make improvements. If you need help, let us know.
We here at ZümiFi love to pour over the numbers, and help ensure that the numbers are telling an interesting and valuable story about your business!