3 Signs Your Business Isn’t Healthy
As a bookkeeper, I have unfortunately seen companies fail. They don’t tend to fail overnight. In fact, most of the companies that fail do so for multiple reasons. But before they fail, there are several signs of problems. Three of the most common signs that I have seen are easy to catch and fix, if you know what they are.
Sales are what make your business a business and not a charity. But if your sales aren’t consistent, your business will begin to suffer. Most people who choose to be employees choose that path because they can have a safety net. They don’t have to bring in work. They just show up to do the jobs. Inconsistent sales make employees feel less secure in their work. Not to mention the problems that inconsistent sales creates for your bottom line.
One of the best things you can do if you need to improve your sales is get a business coach. Even I have a business coach. A business coach can help you understand what you need to do to grow and improve your business. And if you need a business coach, I have a great recommendation for you.
Another common problem that I see from small businesses that aren’t doing well is unhappy employees. Low morale can come from any one of dozens of factors. But no matter what the root cause, unhappy employees will end up costing your business in the long run. Unhappy employees don’t typically put their best effort into their work. They are also less likely to be looking out for your interests, which can cause increased waste and costly corrections.
Sometimes the issues with unhappy employees can be solved by finding better pay structures. Other times you may need to sit down with your employees and figure out what part of the management system is making it harder for them to do and enjoy their jobs. But when you fix morale problems, your team will function better and you can begin to rely on them to have your needs in focus.
Unorganized and Incorrect Books
As a bookkeeper, it’s rather obvious that I would find the health of a business easily diagnosed via a company’s books. But a couple of the areas that make it easier for even an amatuer to identify as issues are incomplete books and disorganization within the books. If your books aren’t organized properly, your business may be wasting money. It’s easy to miss double charges, mistakes in purchases, and other costly errors when you can’t quickly assess and verify income and expenses.
Getting a bookkeeper on your team can make a huge difference. A bookkeeper can pay for themselves by helping you avoid wasting money and time. And the stress you will avoid by relying on a bookkeeper will absolutely be worth bringing a bookkeeper onto your team.
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