Chapter 27
Keeping the record straight
Fate decrees that one of the least interesting business activities is also one of the most crucial for its continued success. Keeping records must rank fairly low in an entrepreneur’s satisfaction rating. It is much more gripping to go chasing sales or to carry out a negotiation with a supplier that will lower your costs. But a complete ‘seat-of-the-pants’ approach to business will only keep you afloat in the short term.
If you hope to avert the dangers of sliding into failure, one thing you should try to achieve is not to allow yourself to be buried in a quagmire of bills, invoices and tax demands. Failure to organise your records from day one may mean just that. However, it is never too late to start; ...
Get The Financial Times Guide to Business Start Up, 2019-2020, 31st Edition now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
