One Minute Financial Management

Many managers are busy developing business and dealing with staff problems every day, but in their busy days, they forget to pay attention to the long-standing problems of some companies, so that at the end of the day, the problem is so serious that they get sick and become blind.

Mailoa Weitz, a financial expert (EdwardMendlowitz), suggests that managers can grasp the development trend of companies if they only develop their habits and pay attention to some simple financial statements.

Once there is a slight alarm, it can be dealt with immediately.

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Break even point.

Many times, you have to wait until the financial statements come out every month before you know what the company has done recently.

But the drop in time will probably affect your decision making speed.

If you can ask a financial officer to provide a profit and loss balance analysis of the company, that is to say, how many products you sell in a month can be balanced, and you can always tell whether you are making money or losing money in this period of time.

Backlog of orders.

Some orders came in, but they had not been processed so that the delivery time was delayed.

As long as you want to look at those backlog orders, you can know if there are any problems with the company and how serious the problem is.

Every backlog of orders represents an angry customer, to see how many angry customers your company is accumulating.

After a thorough review of a customer response and delivery delay, a company found that the problem is that the traffic department starts processing from a pile of orders every time.

As a result, the last order entered is the earliest. The order below will be postponed for a few days.

Knowing how many orders your company has backlog, where the problem is, it's easy to solve.

Return records.

If the number of returns increases, there is a problem in the internal QC.

Therefore, mastering the quantity of return is an important key, so that it will not be handled until the problem is unmanageable.

Number of employees.

How many employees are there per month?

With the increase in business, the number of employees employed by the company may grow unconsciously. Even when business is not growing, the number of employees is still increasing.

For example, if your company has twenty-five people and an additional five people, it is really nothing.

Ask your subordinates to give you a statistical chart every month to let you know the number of employees and the growth curve.

Let's see if the company is hiring people.

In a busy job, grasping these basic and important numbers will allow you to get a quick grasp of the company's operation.

This is another kind of one minute management.