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This One Monthly Habit Could Boost Your Business’ Success by 60%
As a successful business owner, you are already looking at your company’s revenue and gross profits, and keeping an eye on the cash balances as well. But are you making decisions with that information, or are you stuck in a limbo of how to use the information from your bookkeeper’s reports?
Understanding and monitoring critical financial ratios is essential for business owners and entrepreneurs to ensure the financial health and sustainability of their companies. According to The Federal Reserve Bank of Chicago, businesses that only analyze their numbers annually have up to a 75% failure rate! This failure rate is significantly improved when the frequency of analysis increases to monthly, dropping to 15-25% (that’s a 75-85% success rate!).
To help you get going on this habit, we’ve created a resource guide with specific recommendations. Download a complementary copy today!