My hat is off to small business owners. These brave souls single handedly run a business from soup to nuts. One scholar opined that managing a small business is simple. There are only a thousand details that you must get right all at the same time.
For instance, there are skills for the day to day of the business, payroll, taxes, personnel, and so on.
Oops! Did I forget to mention examining the business plan versus actual activity. Who is looking over cash management, inventory management, and so on.
May I suggest that you adopt the tried and true method. Financial ratios a good first step is analyzing the business in a through and rigorous method manner. This link is a first step in identifying five to ten statistics that will define your business http://www.netmba.com/finance/financial/ratios/.
In future post I will discuss identifying useful ratios and using objective tools to manage your enterprise.