Being entrepreneurial doesn’t end at starting a business; it means constantly striving to perfect your business model and quickly and continually adapting to change.
While “big data” has become a buzz word and the ability to readily capture data to inform business decisions has significantly increased in recent years, overlooked in this data grab is the importance of financial data and accountants, specifically.
You may just think of your accountant when it’s time to file your taxes, but he or she actually holds the secret to how healthy your company is and what to do about it.
What the accountant has is a mass of financial data, and with the right amount of financial data, a good accountant can almost instantly identify a business’s strengths and weaknesses.
Are your costs of goods sold too high? Are your prices too low? Do you have a manager whose team is particularly productive?
Your accountant likely has the answers to all of these questions and the data to back them up.
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