How business owners should approach their numbers

▤ Summary

So, in this day and age where accounting has been made a lot easier and financial information more transparent, how should business owners approach their numbers? Had an accountant stepped in to provide advice beforehand, whether that was to take care of that customer or to focus their efforts into acquiring other big clients, the business wouldn’t have had to rely on a single major source of revenue. As an investor himself, Sam had this advice to give: “If we’re talking about seed [funding], they’ll be investing more in the team, personality, vision, and market—depending on the stage.” He goes on to advise SMEs that “annual finances are useless in the beginning because business is changing so frequently. Especially since cash flow management is one of the top issues for Singapore SMEs, this sort of transparency is essential to grow and scale. And that’s why we developed solutions like Xero—so that business owners can have an easier experience with accounting and make better decisions based on their financial data.

▦ Linked Companies

Xero

$1B+