Keeping Score in Your Business

You often hear the debate among parents about keeping score in Little League. Some parents say there is no need in it, since the kids are just having fun and learning to play the game. Other parents say that kids need to learn the value of hard work and skill paying off. Since I have a two year old little girl and another on the way, I’ll abstain from the argument…….for now. I will say that keeping score in your business is crucial. Unfortunately, I see many business owners taking the advice of the first set of parents.


Since tax season has officially ended for most businesses, right now is a good time to sit down with your accountant and make sure that you are accurately keeping records. Also review your Profit and Loss Statement, Balance Sheet, and Cash Flow Statement on a regular basis. You don’t want to wait until April 14th, 2012 to find out that you are losing the game.

The TSBDC offers free and confidential one-on-one counseling for existing and start up small businesses.

To register for go to http://www.tsbdc.org.


Other contact information - Phone (615) 230-4780 or charles.alexander@volstate.edu.