Today we are talking about Principle #4 for business success and how to utilize this concept.
Principle #4… Be Fiscally Responsible
Every successful business owner knows that running a business responsibly is the only way to run one the right way. Knowing when to budget money and how much of it to budget are skills that will keep you from making dire mistakes and losing money, or having to close your business. Making sure that you know how to keep a balanced budget is going to be of monumental importance.
How to Achieve Fiscal Responsibility
When it comes to money, it is all about knowing what is going on. Keep on top of the books. Budget everything. Know how to intelligently use lines of credit. Know how good you did last month in sales, and figure out where you can improve. Know what your expenses are and where you might be able to cut or reduce expenses.
Tune in tomorrow for the 5th key principle to business success.
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Aim for what you want each and every day!
Anne Bachrach
The Accountability Coach™
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Published on 1 year, 11 months ago
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