RECORD/BOOK KEEPING IN BUSINESS (1)

By Oladipupo Clement

A wise man once said, “You don’t grow big to manage well rather, you manage well so you can grow big”. Truer words could never have been spoken.

Improper/lack of record has hindered many businesses from succeeding, eventually rendering them insolvent or bankrupt. Such business failures could have been prevented if only proper accounting books were kept and periodic evaluation were done. This is why I say that in order to succeed in business finance, you must first succeed in personal finance.

Record/Book Keeping is a lot of hard work yet it is critical for business success. Attaining and retaining success in business are two different things. Record/Book keeping is an inescapable task if you must retain or maintain what you have attained. If you consider it a stress, then be prepared to be out of business.

This task is so important that an entire industry has been built around it and people make a worthy living out of it. At a certain level of your business, you MAY BE able to keep books yourself but as business progresses, you would need a staff or a consultant to help with this while your focus would be to review those reports for major turnaround decisions.

Please feel free to send in your questions, comments and suggestions.

NOTE:
Be part of the solution in your little corner or sphere of influence!
Take the practical step toward making Nigeria a better and richer nation.
MAKE A DIFFERENCE!

[The GAMEPLAN is brought to you by LIFEPAGE Limited -www.lifepagegroup.com]