"No matter how strong or weak your understanding of accounting is, you need to keep very careful, well-organized records."
At this point, my understanding of accounting is pretty basic.
Very basic really.
But that is exactly what I want to change. During class, we were given time to organize our independent projects/internships. As I made the plan for my project, I realized how poorly I had been managing my business up until today.
I am going to be 100% honest with you.
I didn't keep track of my orders, expenses, or gains, I didn´t keep count of my product inventory, and I didn't even have the costs of my recipes. You ask me what word I'd use to describe my business and I'd say messy.
Nonetheless, that is the last word that should describe a business: a mess. Without a properly organized system, expenses are not recorded, tasks pile up, time is lost finding information that should already be available, and customers are lost.
Keeping track of my sales would have allowed me to determine whether orders have risen or fallen throughout the year. It would have allowed me to determine the average number of orders I have a month and the months where selling is at its "peak". In general, it would have given me a view of how my business was doing, is doing, and where it is heading.
So if I realized one thing during class today it was that my project shouldn’t simply focus on finding a force of demand that equals my force of supply, it should focus on learning how to use a bookkeeping system that will help me stay organized.
If I want to run a business, I need to think like a businesswoman, act like a businesswoman, and above all, stay organized like a businesswoman.
Very basic really.
But that is exactly what I want to change. During class, we were given time to organize our independent projects/internships. As I made the plan for my project, I realized how poorly I had been managing my business up until today.
I am going to be 100% honest with you.
I didn't keep track of my orders, expenses, or gains, I didn´t keep count of my product inventory, and I didn't even have the costs of my recipes. You ask me what word I'd use to describe my business and I'd say messy.
Nonetheless, that is the last word that should describe a business: a mess. Without a properly organized system, expenses are not recorded, tasks pile up, time is lost finding information that should already be available, and customers are lost.
Keeping track of my sales would have allowed me to determine whether orders have risen or fallen throughout the year. It would have allowed me to determine the average number of orders I have a month and the months where selling is at its "peak". In general, it would have given me a view of how my business was doing, is doing, and where it is heading.
So if I realized one thing during class today it was that my project shouldn’t simply focus on finding a force of demand that equals my force of supply, it should focus on learning how to use a bookkeeping system that will help me stay organized.
If I want to run a business, I need to think like a businesswoman, act like a businesswoman, and above all, stay organized like a businesswoman.