Strategic Business Performance in Peterborough ON
Contact our accountants at Harris CPA & Associates for business accounting, tax preparation, income tax and other tax services in Peterborough and the surrounding areas.
Business Performance: Planning – Constantly watching KPI report keys.
Monitoring: monthly reporting, cash flow analysis.
If you don’t watch where you are going you will undoubtedly run into a tree or a wall.
"Most people use statistics the way a drunkard uses a lamp post, more for support than illumination"
- Mark Twain
Keeping your eyes on the important ‘gauges’ to run your business can be easy.
The creation of a Business Plan is a one-time project. Most business owners I have seen spend the time and energy, and of course money, to create a plan. Then the day to day business of dealing with the phone ringing, prospects and client calls, staffing, etc., etc. have that great plan simply sit on a shelf waiting for someone to act.
Making a plan and leaving it on a shelf is like buying a weight loss book and hoping you will loose weight.
Our Experienced Accountants can help you identify and put the key performance indicators to work, every month, week and day as appropriate. We can do some or all of this process or train your staff to create the reports.
Your job as business owner is to look at the reports and information and use them to guide your business decisions to be constantly moving in the direction of your goals.
“A rocket to the moon spends only 7% of the time on the correct course, the rest of the time it is off course and needs to be corrected and put back on course.”
It is normal and necessary to make corrections on the journey to your goal. Without the correct information to make the proper correction at the proper time, you may never reach your goal.
Results: Track progress toward your goals, not on an annual basis but on a weekly and monthly basis. Make corrections and see issues turn and change, whether it is employee engagement, cash flow, receivable collection, production areas and of course profits. Making minor ongoing corrections very quickly to your plotted course ensures you are not taken in the wrong direction for very long at all.