We all get caught up in the daily operations of our business. Regardless of what industry you are in, it is a guaranteed statement that you are B-U-S-Y!
When it comes to fiscal responsibility though, there is no margin for procrastinating. Your bookkeeper and accountant have their expectations for month end, year end in terms of receipts,, invoices, figures and how they want your business presented for processing. But how often do you stop and pull reporting details for YOURSELF and your business growth?
Many retailers have shared with me that they do not have time to pull and analyze reports regularly due to time restraints and lack of knowledge in that area. My advise is as follows:
Having all these numbers at your fingertips is helpful when it comes time to place new orders, tracking your Open To Buy budget, monitoring top performers (and conversely your bottom ones) and weeding out items and categories or expanding new ones.
Need help getting to a streamlined reporting month end? Email me directly!
Leah Chevallier, serial entrepreneur in the Juvenile Industry sharing insight, success and 18 years of award winning retail experience! Took $2000 Micro-credit loan and turned it into $30 million!