You’ve heard it over and over again: as a business owner, you need to know how your business is doing financially. Broadly speaking, financial metrics capture information indicating your business’s financial health. It’s important to track these measures so that you can make informed decisions about the future of your business.
Do you believe that one of your company’s most important indicators has the potential to build or ruin your brand so soon? It might be able to; it might not.
Why do new businesses fail? The most frequently stated factors are timing, money, poor market intelligence, and, in certain situations, a lack of focus, resources, or expertise. The more crucial question is: Why don’t startups grow into successful businesses?