In every business there are a "Vital Few" success factors that drive the business. These truly important things determine profit or loss, positive or negative cash flow, and even the success or failure of the business.
The "Vital Few" for every business are different--with one very important exception--today's bank balance! You need current information on the "Vital Few" factors that can, and do make a very big difference in the success of your business.
Generating the information daily is the most effective; weekly is OK but not nearly as good as daily. As for your "Vital Few" success factors, monthly is practically worthless.
Your monthly financial statements (ideally not later than the seventh working day of the month) should only confirm what you know!
Here are a few examples of "Vital Success Factors" that my clients have used in the past:
Today's bank balance … Read More