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Many business owners and investors get reports that they don't understand - and it's not their fault! Most reports are either too technical or are missing information to give the reader the information they want.
It's always amazing to me the number of people who think they don't need reporting in their wealth strategy. Some think they will be so successful that they don't need a report to tell them that. Others think that reporting is just for their accountant to do their taxes. And, others think they aren't big enough to need reporting.
Whether you have 1 employee or 100, whether you have 1 rental property or 50, whether you invest in options, tax liens, or oil & gas, you need reporting!
What is Reporting?
Reporting is summarizing activity in a clear and concise format. When done correctly, reporting is a helpful and meaningful tool that helps you make timely business and investing decisions.
Now, be honest. Some of you saw the word reporting and immediately began trying to convince yourself you don't really need it. I find that most people avoid reporting, even though reporting can help them accelerate their wealth!
Why would someone avoid something that helps them accelerate their wealth?
There are several reasons I hear:
It's [url=http://www.louboumaterialistanyc.com]louboutin[/url] too difficult to understand It takes too much time It's boring I don't know how to set it up I don't really know what it means
The truth is, if your reporting isn't set up correctly or at all, the above excuses are true! But if your reporting is set up correctly, then you can cross off every one of these excuses.
What Reporting Is NOT
Have you ever been handed a balance sheet and income statement from your accountant and been told that this is your [url=http://www.gotprintsigns.com/abercrombiepascher/‎]abercrombie pas cher[/url] reporting?
When you look at these reports from your accountant, do you scratch your head and wonder what you are suppose to do with these reports?
Do you file these reports as quickly as possible, hoping to never see them [url=http://www.achbanker.com/hollister.php]hollister[/url] again?
While these reports can be helpful, particularly when it comes to tax planning and preparing tax returns, they are [url=http://www.sandvikfw.net/shopuk.php]hollister sale[/url] not the most helpful when it comes to providing business owners and investors with information that will help them grow their business and their wealth.
What Reporting Should Be
Reporting should report the activity YOU want. There [url=http://www.ilyav.com/uggsoldes.php]boots ugg pas cher[/url] are no specific rules that must be followed - it is based on what you want to help you [url=http://www.rtnagel.com/airjordan.php]nike air jordan pas cher[/url] make decisions to grow your business and your wealth.
If you are a business owner, what information would you like to know?
Your most profitable product or service?
How much each customer contributes to your bottom line?
How many products or services you must sell to break even every month? Every week?
Product sales by customer?
Sales by employee? How much each employee contributes to [url=http://www.rtnagel.com/airjordan.php]jordan pas cher[/url] your bottom line?
The list can go on and on. The key to reporting is getting the information about your business or investments that helps you make timely decisions to grow your business and your wealth. This means getting reports that clearly summarize the information you want and not getting reports that are pages long with the information buried it in somewhere for you to try and [url=http://www.mnfruit.com/louboutinpascher.php]louboutin pas cher[/url] find.
Create Your Wish List!
Have you ever wondered how other businesses compare to yours? Or what your most profitable product is? Or how [url=http://www.mnfruit.com/doudounemoncler.php]moncler pas cher[/url] the properties around your property compare in rents, vacancy, turnover and value?
Think about all the information you would like to have to make more proactive and informed decisions. Think about the indicators that would help you know when it's time to [url=http://www.mnfruit.com/doudounemoncler.php]moncler[/url] raise or lower prices, or buy or sell a new investment. This is your wish list!
Make a list for each of your investments and businesses because you'll want different reporting for each type of investment and each business.
Be sure to include how frequently you want each item reported. Some items you may want to see once a month. Other items you may want to review on a weekly basis. And, there are some you will want to see every single day. For [url=http://www.jordanpascherofficiele.com]air jordan[/url] example, every morning I receive a report that tells me exactly how much cash was collected in each of my businesses.
5 Steps to Creating Simple, Meaningful Reports
Are you ready to take the mystery out of reporting? Do you want to make your reporting a simple process that doesn't take a lot of your time but still gives you information that gets you excited about your reporting and motivates you to accelerate your wealth even more?
Let me guide you through how you can create custom reporting [url=http://www.mnfruit.com/airjordan.php]jordan[/url] for your business and investing and how to use it to accelerate your wealth creation.
Many business owners and investors get reports that they don't understand - and it's not their fault! Most reports are either too technical or are missing information to give the reader the information they want.

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