9 Financial Rules to Keep Your Business Strong
Posted Tuesday, December 6, 2011 by Don Kapuscinski
The other day while reading, 9 Financial Rules to Keep Your Business Strong, written by Jim Blasingame, I learned that at the end of the 20th century, only 10 years ago, half of small businesses failed in the first five years. Recent research shows the mortality rate for small businesses have actually increased by 20% to half failing in the first four years. There are many reasons why a business fails. I’d rather look at the positive side and share with you how MRP Consulting, a Microsoft Silver Certified partner, has helped Microsoft Dynamics clients so they don’t become a gruesome statistic. Let’s start by reviewing the
first 3 financial rules in Jim Blasingame’s article:
1. Produce regular (at least quarterly) and accurate financial statements (balance sheet and profit-and-loss).
2. Hire an accounting firm to help you. Too expensive? How expensive is failure?
3. Purchase and use one of the financial management software programs. Ask your CPA for a recommendation. Review the remaining financial rules.
MRP Consulting can help with number 1 and 3 when purchasing a financial management software program that produces regular and accurate financial statements. Microsoft Dynamics GP (formerly Great Plains) enables you to make smart decisions that have a direct impact on your bottom line—increasing margins and improving your cash flow — which, as Jim mentions in his financial rules, is critical to staying out of the business obits. MRP Consulting has become the largest Dynamics GP Manufacturing partner in North America. We have worked with over 600 companies Worldwide and are available for a 1-day onsite visit in which we will map out your current processes and measure them again your current systems. Sometimes a “tune-up” is all that is needed to keep your business running as it should. We can all agree that having the right software will not only improve internal processes and productivity, but will also improve customer relationships.
Give us a call today.
