Myth #5: If There's Money in the Bank, We're Fine
The Myth: The owner operator will always know how the business is functioning by knowing how much money is in the bank.
The Reality: Running a business from the check register is a disaster waiting to happen. The
amount of money in the bank is a very limited and unreliable indication of business health. No business can prosper until the owner/operator can see the business from all of its numbers. That means that all of the activities must be tracked to determine if they meet expectations. The
actual costs of each part of business operations determines if the business is profitable and will