never leave your accounts. This is often the area of business that most owners just don’t like, don’t understand and don’t see the need. However keeping accounts is critical to the health of your business. You must keep a step ahead. You need to know that you are making enough cash to pay your bills. If you are busy you need to know that the work you are doing is making you a profit and most certainly covering the costs of running your business. You need to know how much you need to take each day to break even, or how much you need to charge to operate a service. You need to know how much revenue a treatment room is bringing in, how much revenue each member of your team is responsible for and how many up-sells and related sales they are making. You need to know what is selling on your treatment menu and what is not, you need to see which of your products are your best sellers and which are just taking up shelf space. you need to know which of your product houses bring you the most profit. You need to know how much to pay HMRC through VAT and PAYE. ONLY when you have all this information can you be in control of your business and make sound decisions.
If you are not already doing all of the above then you are probably struggling in some form or other. You may be tempted to think that the services listed above are non essential. If you want a strong solid profitable business then the above is the minimum you should be doing.