Hey guys,
I'm sitting here at work and I had some ideas come to mind so I thought that
I better write them down somewhere.
I just took corporate finance last semester and we went over a lot of financial ratios (you guys probably know all about this), current/quick ratios, debt to asset, inventory turnover, etc. I think it would be cool if we were to have some of these kinds of data available to the small business owner so they can quickly identify the health of their business and any problem areas they may have.
Just a thought, let me know what you guys think.
Ben
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I think that would be a great help for small business. I think that we could focus it not so much on the data side but more the consulting side. Most small businesses that have some sort of accounting software have access to these numbers and ratios with just a few clicks. What we could do is create a page that tells the owners what their ratios mean also what they can do to have a better ratio.
ReplyDeleteyeah, im sure nearly all small business owners have no idea what the ratios mean, and what they could tell them to help them to be more profitable as a business.
ReplyDeleteThat's exactly what I was thinking Jeremy- translate them into English so it's like they have an online consultant available to them 24/7. I remember taking Acct 2020 and going over all of the financial ratios. I thought to myself, "Man, these things are important...but I have no idea what they mean!" I'm not sure which kinds of businesses would benefit from this, but I think we could keep it as an idea for additional services that we could offer once we're in the door with some businesses.
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