Guident Newsletter – January 2017 – Issue 9

Does your Company have a GPS and if so, do you use it? A few years ago I bought a GPS for my car and I liked it so much I bought one for my wife’s car also.  Eventually we got GPS service on our smartphones and we tend to us that GPS more often.  I recently bought a car that has a GPS as standard options and I like it even more.   It works best when there is a detour or when I am going to a new client’s office and I don’t want to waste time guessing what route to take.   In Q4 or early in Q1 I work with my clients to create an annual operating budget.  We look at past performance, we look at all costs (valid numbers will work the best but don’t let iffy numbers stop you), we look at revenues because most business owners will track revenue fairly accurately but may fall short on tracking operating costs.   We identify profit centers for the business and determine the gross profit per profit center best we can with the data we have.  The more valid the past data the more accurate the pro-forma annual […]