Tuesday, December 1, 2009

Great Time For Setting Goals

I love the holidays because I can always find some "quiet time" to sit down and reflect on the year just ending as well as to project what changes we might be able to bring about in the coming year - in this case 2010!

You shouldn't have to wait for an accountant to get a preliminary P&L and balance sheet for 2009. Even an 11th month statement will provide you with all the data and ratios needed to set some new goals for 2010.

You need to take a yellow highligher and circle key ratios such as cost of goods, cost of paper, total payroll expenses, overhead, etc. and then compare them to what the leaders in this industry (in your sales range) have reported.

Where do you get this information? Well, I hope you have a copy of NAQP's 2008-2009 Operating Ratio Study. There is no more important or useful document than this study and if you don't already have a copy you should order one today from NAQP. Call them at 1-800-234-0040.


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