Hi
It’s a common metaphor to compare running a business to running a car. Everyone’s heard the
comparisons!
But, a story I saw this week got me thinking. It might not always be a good thing to drive a business in the way you drive your car. Let me explain:
Recently released research has shown that 827,000 motorists EVERY YEAR break down because of empty fuel tanks. That’s right; more than 800,000 people are playing – and losing – “Fuel Roulette” every single year.
What’s the got to do with your business?
It’s simple: they’re ignoring the warning signs and motoring ahead
regardless.
Gambling with that well-oiled machine, crossing their fingers, and hoping for the best.
Maybe it’s the thrill of the game. Maybe it’s sheer ignorance. But either way, you shouldn’t be playing Fuel Roulette – with your business OR your car. But I'm no mechanic!
Ignoring the warning signs - which in this case is your business numbers - isn’t the smartest move. And,
before you know it, you could find yourself stranded on the hard shoulder whilst your competition zooms on ahead.
Some food for thought, right?
…but that’s enough ‘deep thinking’ for a Thursday afternoon! The Bank Holiday is in sight, and I for one can't wait!
Enjoy the long weekend,
Noel Guilford
PS And if you want help
to understand your business numbers give me a call.
Noel Guilford is the principal of Guilford Accounting a small business accountancy practice specialising in advising owner-managed businesses on current accounting, finance, and tax matters. You can reach him via email at noel@guilfordaccounting.co.uk or
by phone at  01244 660866. He is the author of the best selling book 'Figure it out - an entrepreneurs guide to understanding your business numbers' which you can obtain by visiting http://guilfordaccounting.co.uk/figureit out. His forthcoming book 'Know your business numbers' will be
published in the autumn. |