SMALL BUSINESS BLOG
I hear so often of business owners getting hung up on that magical top line of their profit & loss statement - 'Revenue' - it's the number they focus on growing & all too often it's the number they get caught up comparing with other businesses...
But let me ask you this, what's the point in having a fantastic revenue line & working to continually boost sales if your expenses chew up most of it? How often do you look at that very bottom line of your P&L and actually understand the health of your business?
Even then, a profit doesn't always mean a robust business - it shows that your business model is now working but it doesn't take into account how much money you may have borrowed (and still owe) to get it to that stage, or the fact that your customers owe you money from months ago, or the fact that you don't have enough cash in the bank to pay wages next month!
Now I don't mean to scare you, just to point out that in order to truly know how your business is performing you need to look at the whole picture and certainly don't get caught up in comparison - it is the thief of joy after all!