From profitability and gross profit margin to meeting targets, here are several accounting tips for assessing business success.
For some business owners, success is in numbers. If you are already profitable and your numbers are increasing, then you are successful. But others measure success in terms of employee satisfaction, customer satisfaction, 24/7 functionality.
But regardless of how you keep score, your accounting tells you how you’re doing. With this financial information, you can make sure you’re on the road to success. Here are several common methods for assessing business success:
- Porfitability
- Gross profit margin
- Balance sheet and cash on hand
