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Business strategy
Importance of business record keeping
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[QUOTE="Etini, post: 277855, member: 90141"] The importance of keeping records in any business cannot be overemphasized. It is very important to document the things going on in your business. There is only so much that the brain can carry. Ironically, in the part of the world where I live, people tend to discount the importance of keeping business records. And that is the reason why so many businesses fail in the first few years. Business needs strategy and it is only from your record that you can a certain of the true position of your business, so you can draw up a strategic plan for the nearest and distant future. I once asked a businessman about the cost of production for a unit of a product he is producing. The man couldn't tell me a range. I was left wondering how he sets his prices. There is a serious need for businesses, no matter how small to start keeping records. [/QUOTE]
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