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. |
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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?
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General Business and Financial