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Thursday, April 25, 2013

Balance Sheet Dashboard

I don't know if they if they teach this to you in Business School, but lately at NanepashemetTelecom, I have developed the habit of updating the Balance Sheet every morning, and staring at it for a while.
What can I do to increase receivables?
What can I do to reduce payables?
How can I chunk down the debt?
What are the Bank Balances?
How much cash do I need?
What can I invest in?
Who can I pay?
The whole exercise probably takes about 30 minutes, and it shapes the actions that I take throughout the entire day.
Granted, Nanepashemet is a small enough company so that I can get my hands around accurate information fairly easily in a short time, but using your balance sheet as your dashboard has proven to be a great way to prioritze and focus.

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