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How Often Should Business Owners Look at Bottom Line?

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By Virginia Bridges

small_business_owner_female(MCT)—News & Observer reporter Virginia Bridges asked small-business owners how often they look at their bottom line and how that information affects how they run their business. Here’s what they said:

—“I look at my bottom line at least monthly. This gives me an idea as to the percentage of time I need to devote to marketing, networking and business development,” said Peter Metzner, president of Dynamic Change, a leadership and team development firm in Chapel Hill, N.C. “If my pipeline is full and I neglect business development, I usually will see the impact within the next quarter.”

—“I can pretty well track the financials in my head,” said Tom Stevens, founder of Think Leadership Ideas, an executive coaching and leadership development firm in Hillsborough, N.C. “I make myself a financial report each month and review progress on revenue targets every week. It inspires or terrifies me, depending on how I’m doing. Either way, the weekly review provides motivation and focus.”

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