Taking Inventory

While taking physical inventory at year-end is familiar for Entrepreneurs with businesses that deal in goods, there is something else to ponder.

Have you ever considered taking an inventory of your “business” at year-end?

What are your really valuable “assets” (not in the accounting sense) and what is the balance that you are carrying at year-end? You might want to prepare a list of such “assets” for assessing where you are, determining what you need to grow such assets, and monitoring progress throughout the year.

An Entrepreneur might consider certain goods and services, pertinent technology, engaged and high-performing employees, key clients, reliable suppliers, valuable advisors, and so on as core “assets” to run a successful business.

Taking inventory of these assets at year-end, and planning on how to increase them in the coming year could be a key component of your annual plan. Measuring your assets at the end of the next year would determine your performance in this area.

Do the Right Things!

Ravi Patel

 

Advertisements

The URI to TrackBack this entry is: https://bloggerravi.wordpress.com/2010/11/29/taking-inventory/trackback/

RSS feed for comments on this post.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: