This blog is covering number four of the Ten Core Business Practices. There are three in one here: Financial Analysis is one, Reporting is two and Capital Management is number three. I’ll start this with a story. The first time I went into an executive position, it was for a dot.com and I had been promoted from a sales position. I was an officer in the company. If you don't know exactly what an officer of the company means, it's pretty much what you're doing as a small business owner. It means that you primarily have responsibility for a huge portion of the business; that you are the one that's being held accountable. And if you own the company, then you, by definition, are an officer of or principal as evidenced by your name on all of the legal documents according to your articles of incorporation. My boss at the time had a lot of confidence in me. But one of the things that he was always a stickler about was “did I know my numbers”? And you know, being a person that
Educating small businesses on doing business with big businesses.