If entrepreneur perceived the accounting to be a live compass instead of a postmortem of the business, life would change drastically for businessmen and the way they perceive accounting to be.
They will start working hard to keep this live and track it daily. It will become like a dart game for them which one plays when frustrated from the regular work. One will like to check what's going on in my business? Is the hard-work right on target? Does my business have enough fuel (cash) to drive it to a distance where I want to reach before I get the next fuel station. Is the spread (growth rate) correct to control when need be and at the same time to reach in time.
This can convert business into a game of numbers like any other game where we have a clear cut board showing where we are and what are we chasing to win.
The enjoyment multiplies and so the business!!
Points to act on:
1. Make your accounts upto date on daily basis
2. Track all your accounts on weekly basis
3. Understand that cash is king and track it hard
4. Choose a right accountant
Believe me knowing something is almost like achieving. Just start knowing more to be winners. Accounting is way ahead!!