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Five Numbers That Provide Better Control Over Your Organization

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Last week I presented a Zoom program for the East Brunswick Public Library as part of a continuing Noon time Take A Business Break series. The title was similar to the heading of this blog. Here is the essence of that presentation.

Every business or organization manager spends most of their time working in and running the business or not-for-profit (NFP) organization, yet many do not have a full handle on how they generate revenues, what is happening to their cash and wonder if they have the right controls.

Spending three minutes a day looking at five numbers can provide needed controls, insights and overviews. Every business or NFP is different but all have similar concerns – controlling cash, sales, payroll, purchases and understanding how they make money.

The program did not cover everything you should know or need to know, but it covered what I feel is one of the most important and EASIEST things, as well as provided some information on more involved data you can get and how to use it.

I am an accountant and my listeners are business people or managers. I might be a little bit of a business person for my accounting business and they might be a little bit of an accountant for some of their business, but neither of us does either of that full time. Also our interests are more toward our main job.

I get it and understand that busy managers do not want to spend more time than necessary on the accounting stuff, and this short program gives a tool that is and has been indispensable for almost every one of my clients over my long and very active career. The Key Performance Indicator and Daily Cash Balance Report.

I’ve also included in my handout added reading material I think will also be helpful. You can get the free handout by sending me a request to GoodiesFromEd@withum.com and writing “5 Numbers” as the subject; no messages, just the subject and I’ll email you the booklet.

Five numbers + 3 minutes a day = > Controls and better management.

If you have any business or financial [or checklist] issues you want to discuss please do not hesitate to contact me at emendlowitz@withum.com.

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