More than half of U.S. companies don’t know their own numbers well enough

An annual survey of small businesses in the United States uncovered this remarkable stat – more than half of the 1,100 businesses surveyed don’t track assets and nearly half don’t track inventory.

The is a lot of interesting reading in the Wasp Barcode Technologies State of Small Business survey, but the fact that 55 percent of the respondents don’t track assets and 48 percent don’t track inventory was interesting to me … but not all that surprising because it’s something I see all the time.

Thames Management Resources works with businesses with between $1 million and $20 million in revenues looking to double the size of their company. You would think companies that have made it to the $1 million mark in annual revenue would have a rock solid understanding of its operations. That usually isn’t the case, and that’s why Thames is around.

We’ve worked with companies in all industries and usually a key question stops them cold …. how much money are you making – or losing – today? Without that knowledge, you really are flying blind. You may chase opportunities because of the revenue it’s going to bring in without realizing each sale is really a loss or let opportunities go by because you can’t calculate the profit margin.

Our core strength is that we can break down your operations and give you the dashboard so you can understand the direction your company is going at any given time. Thames is based in Illinois so it’s always best to use an Abraham Lincoln analogy. Our 16th President once said, “Give me six hours to chop down a tree and I’ll spend four hours sharpening the axe.”

Thames helps you sharpen the axe.

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