Most small business owners rarely put aside the necessary time to keep a handle on their finances. Many only want to sign a set of accounts so that they can be submitted on time. They don’t even look at the figures! But they could be missing out on an essential tool for guiding their business forward to future success.
If you haven’t got an understanding of the numbers in your mobile DJ business, how can you possibly make the best decisions for ensuring its future success? Are there any financial measures to take advantage of currently? Would a bounce back loan help your business? How would it impact on your cash flow, accounts and ability to weather the current storm?
I’m not saying that you need to have an in-depth knowledge of accountancy, but knowing the basics is exceptionally important. In fact, I’m such a strong believer of this that I made it the focus of my latest book, Your Business Your Numbers.
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The full review can be found in Pro Mobile Issue 103, Pages 56-57.