Top 5 Mistakes Made by Small Businesses

No. 3: Never underestimate the power of crunching numbers

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There is a reason why ever single major corporation out there has an accountant. Or better said, a team of accountants. Keeping the books and crunching the numbers is a very important aspect of a successful business, and small ventures sometimes overlook this. For small businesses, it is especially important to look at cash flow, rather than at sales and profits. Unfortunately, the vast majority of small business owners completely ignore this fact. Hiring a professional to keep your books and manage your finances is ideal, but if you can’t afford this right now, don’t despair. Instead, make it a point out of educating yourself on the matter so that you can properly keep your own records.