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Old 02-07-2013, 08:08 PM
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RLS24 RLS24 is offline
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Join Date: Oct 2007
Location: Amherst, NY
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Quote:
Originally Posted by etwman View Post
Here's a quote out of Tony Bass's Emyth Book:

"I have worked with over 200 privately held landscaping companies. Fewer than 20% of these company owners could provide me with a copy of up-to-date financial statements and explain the story revealed within in those finanancial statements. I have met even fewer who can use their financial statements and compare their financial statistics to similiar-sized, sucessful companies in the landscape insdustry. In other words, my experience has demonstrated that only about 10% of the owners of landscape companies understand money inside their businesses."

This is not only true, but is probably one of the top 3 reasons why landscape companies have an enormous turnover rate. If you are in that 90% above I would strongly suggest you buy an hour or two of your accountants time to teach you what you need to know about the basics. This stuff is critical in moving forward.
After reading this (the first time you started talking about it), I started running some simple reports in QuickBooks on last year and I found a few things that really surprised me and would have probably never come to my attention had I not looked. I really need to start reading some of these books you speak of, just don't have enough hours in the day to do it!
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