5 Reasons You Need to Measure Your Business’s Results

While it may seem obvious, for whatever reason, many small business owners don't do a good job of measuring their results.

When you're trying to make money in a business, not knowing where you stand on your key operational and financial numbers is akin to flying a plane in fog without your instrument panel.

So here are some reasons why measuring the processes and transactions that drive your success and then using that information to manage your business is so crucial to business survival and success:

  1. 1. Measurement is the first step to improvement. If you don't measure it, you don't know if what you're doing is getting better or
    worse.
  2. 2. Measurement says it's important. In a restaurant, not knowing your food cost, for example, tells your people food cost is not
    important, so there's little or no consequence to improper portioning, waste, spoilage and even some food going out the back door.
  3. 3. Measurement tells you how well your staff is performing. Good numbers and results are a strong indicator of good employee
    performance.
  4. 4. Measurement leads to smarter decisions. Measurement can take a lot of the emotion out of decision making. With numbers, decisions can
    be based more on facts than feelings and personal preferences.
  5. 5. Measurement leads to better understanding of your business. A very successful businessman once told us, "If you don't know your
    numbers, you don't know your business."
        • Measuring your key processes and financial results can help your business perform better and make you and your people more effective at
          what they do.

          We can help you identify and measure the key numbers in your business. If you’re interested in finding out more, just email me at
          [email protected]dlyaccountants.co.uk with the subject “Help me get the right measurements please...”.

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Why Friendly

The Friendly Accountants are Alternative Accountants. Unlike traditional accountants, we look forward - not back.

We work with small businesses and contractors/freelancers who want to embrace the world of online software and the benefits this brings.

So if you'd like to find out more, just give a call or drop us an email - no hard sell.

Just friendly, professional advice!

Who we are

We're a husband and wife team with over 50 years experience of working with small businesses.

So we're in a unique position to understand the challenges that you face every day in your business.

And what's more, we're fully professionally qualified so you can be sure that your affairs are in safe hands.

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