Most people at some point in their lives have heard a coach or fan holler, "Keep your eye on the ball!" If you played sports, especially baseball, your coach yelled it to you right after you swung and missed the best pitch of the game.
The same principle can be applied to running a successful business. You have to keep your eye on the ball--the business ball, that is. The strategies and planning that go hand in hand with keeping your eye on the business ball determine if you make connection and get a hit, sometimes a home run, or if you go down swinging and strike out. Here are the top three budget questions business owners ask me as their business volume increases or decreases.
"When do I start making more money?"
"I want to hire an employee. Can I afford it?"
"My business is down. Are my expenses in line?"
It's important to truly find the answers to these questions before making the decisions. An experienced bookkeeper, CPA and/or business coach would assist you towards the answers. If you don't have experts around you now, start looking for them.
In any sport, the coach usually has a game plan, a starting point. But often the game plan is tweaked and adjusted during the game. If the coach wasn't keeping track of what was taking place, he would be unable to make those adjustments. Running a business is no different. Have a plan, but review it often. Keep your eye on the business ball and go hit a home run!
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