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How Often Should Business Owners Look at Bottom Line?

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By Virginia Bridges

—“Some of the critical numbers in your business are leading indicators, like hits to a website or calls to prospective customers, which need to occur before the lagging indicators, likes sales, happen,” said Jim Jubelirer, owner of Jubelirer Results Group, a business coaching and leadership development firm in Chapel Hill. “It is important to look at leading indicators on an ongoing basis, even daily, in order to get the bottom-line results you want each month.”

—“We review our cash balance (checkbook) and cash flow forecast (money coming in and bills we need to pay) every week. … We monitor our income and expense statement monthly. This way, analysis tells whether we are on track to meet our goals; whether we need to find new clients or work harder with existing ones; and whether we need to slow our spending until our cash position improves,” said Earl Hadden, business mentor and coach at the Small Business Success Project in Chapel Hill.

©2013 The News & Observer (Raleigh, N.C.)
Distributed by MCT Information Services

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