# Chapter 289

Clear and up-to-date financials are required – if you don’t understand your business financially, there is no way to grow it. - Masterminds

It seems like a no-brainer, but almost every business I work with has some challenges in this area. One business is terrified of putting anything online, so they use an obscure piece of software that is completely firewalled. Whether you are firewalled or not (security is a subject for a different day), this obscure piece of software costs them far far more than the purchase price. The human price alone for using bad software is high. Text support is in the wrong time zone, constant computer upgrades required, and on and on. Still have no clear picture of financials, because of the tools they are using. One of the management companies that I use also has really oblique software, it doesn’t tell me the information that I need to know. If I had another choice, I would not use this management company, but they are a monopoly in a small market. In the 38 months I have been contracted with them, no less than 30 times I have asked the same questions. You would think that they would clearly see that I am not receiving the clear and up-to-date financials that are required for me to run my business.

On the other hand, just because you have clear and up-to-date financials in front of you doesn’t mean that you automatically know how to run your business. While clear financials could eliminate many potential problems, ignorance can create far more. Always be learning and streamlining your business.