Barry, owner of an electrical contracting business, was frowning at the reports on his desk. His eyes narrowed as he looked up at me. “When we talked a week ago, you told me last month’s income was the best month of the year so far,” he said. “But when I run the reports, it looks …Read more
An accountant walks into a bar . . . No, it’s not the beginning of a corny joke. It describes a visit I once made to a client. Her books were in shambles. She was bouncing checks right and left. She never had as much money in the bank as she thought she should. And …Read more
When people ask what NPS does, I say, “We’re the guys in accounting. All those activities that end in the phrase ‘walk it over to the number crunchers’—that’s us.” We’re an outsourced Accounting Department, from bookkeeper to controller to CFO. Outsourcing is a buzzword that has generated business and media attention for decades. You’ve heard …Read more
Every business has a number. Now I’m the numbers guy, so of course I’d say something like that. I’ve even written before about key performance indicators (KPIs) and how crucial they are to managing any business. I’ve discussed the ways in which numbers help our clients keep score of monthly, quarterly, and yearly results. And …Read more
After the holiday shopping and celebrations of December, January often shines the cold light of reality on a new year—highlighting how prepared you feel for it. In the world of small business, that includes having a budget. Last month, we looked at how your company defines mandatory and discretionary spending. Many of you replied that …Read more
What Can I Learn Today to Improve Our Financial Performance?
You can hear when an engine is running smoothly—or racing or sputtering. The same is true for the financial drivers of your business.
You just need to know what to listen for. The good news is that your numbers are talking all the time!
Here are the best ideas we can find on how to ask your business for the information you need, to understand what it says, and take action on what you learn.