The one place where many entrepreneurs stumble and fall is in the basic management of their business. Being successful in any business venture requires at least a minimal amount of management skill.
The most important thing is to keep track of your money! Knowing where your money is being spent, and how effective those expenditures are in generating revenue will often mean the difference between success and failure. At the very least, keep track of your cash flow on a regular basis - cash in, and cash out. No business on the planet can survive without knowing what their financial status is at all times.
Keeping records is a big pain…but not keeping records is an even bigger pain. When tax time rolls around and you need to figure out what kind of profit your b View the rest of this article
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