True or False Self Test #1:
General Needs Assessment
|1. I run my business based on information, not wishful thinking. I know precisely where my business is, financially, at any given moment.
|2. I have confidence in the accuracy and completeness of financial reports generated by my accounting system.|
|3. I know that my pricing adequately covers my costs including overhead, while allowing for a target profit figure.|
|4. I have identified profit centers and can easily compare profit margins for each.|
|5. I can easily compare actual costs with budgeted costs for my company as a whole or for individual jobs or projects.|
|6. I am able to provide customers with clear, easy-to-understand invoices without having to go outside my accounting software.|
|7. I fully understand what my true burdened labor costs are, and my accounting shows this information in an easily accessible way.|
|8. My employees have clearly-written job descriptions and understand what their duties and responsibilities are.|
|9. There is a clear system of procedures in my office, and paperwork is managed efficiently and consistently.|
|10. My company’s operations are based on a documented system rather than on the skills and habits of individual employees.|
Scoring Your Results
Count 1 point for every statement that's TRUE about your company.
Is anything less than 10 good enough?
If not, check out these services offered by BSM:
General Business and Financial