Here is a simple economic truth. Fixed overhead continues to eat into your cash month after month. It doesn’t differentiate facile, efficient businesses from slow, disorganized, quality-challenged ones.
If you implement the policies that prevent the same person from handling all the cash and banking functions, plus review receivables, payables, and your financial statements regularly, you will have a better chance to catch anything questionable early on.
Small Biz Club is the premier destination for small business owners and entrepreneurs. To succeed in business, you have to constantly learn about new things, evaluate what you’re doing, and look for ways to improve—that’s what we’re here to help you do.