How are you doing when it comes to minding your own business? Are you taking a look at your finances on a regular basis? Are you looking at the different financial indicators to monitor the health of your business?

Well, it is important that you are frequently looking at your business’ performance. To some, frequently can mean every couple months. To others, it can mean every week. While some people should be looking at their company’s numbers on a daily basis. The frequency that is best suitable for you usually depends on the size of your company, the number of sales being made on a daily, or weekly, basis, and the amount of decisions you must make to manage your operations, sales, and financing.

How does frequency apply to your business?

What is your frequency? Well, it really depends on what we are talking about. How often do you do reviews with your employees? That number is one type of frequency. Hopefully you are doing it more often then once a year. That could definitely help bring down any turnover rates.

Another important measurement of frequency is that of financial reviews. How often are you doing in-depth reviews of your accounting, or books? How long does it take you to figure out if you are being profitable as a company, on a specific sales item, or with hiring a new employee? What are your break-even points? Hopefully you are not like most typical business owners who wait until they absolutely have to get their taxes done in order to put their books in order and get a real measurement of their company’s financial success.

I would suggest taking some time and thinking about the way you are operating your business and the frequency patterns you use, or don’t use. Make a plan and write it down. Mind your own business and you will make better choices and have a healthier business!