Remember in the last post I was talking about endurance riding.
Remember the final visit to the vet and the fact that the horse had to be fit to do another 40 kilometres?
Many business owners in their haste to make profit forget to feed their business and it becomes run down. They take every piece of profit out and forget to leave some money in the business to sustain it.
Sustainability is about making sure you have a horse that you’ve kept hydrated throughout the ride; that you have not ‘run into the ground’ and that can take you throughout an endurance season.
To do this you must make sure that you look at two things while riding the endurance race.
- Keep an eye on how fast you’re running because remember it is a race and you’re trying to do your best time.
- Keep an eye on how the horse is doing so that you make sure it can go the distance.
So in your business you must keep an eye on your profit and loss account because that will help you make sure you’re progressing well and are not going backwards but also keep an eye on your balance sheet because that will tell about the sustainability of your business and whether you can go forward from this particular part of the journey.
Watch for my last entry in this series where I will look at the importance of the quality of your end Financial Fence post…….
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