Reliable Books Business Services, LLC: Opportunity cost

Showing posts with label Opportunity cost. Show all posts

Saturday, February 4, 2023

Keeping track of expenses is important for any business

“Beware of little expenses; a small leak will sink a great ship.”- Benjamin Franklin

If you keep spending small amounts of money, over time you will run out of money. Unchecked spending will cause significant losses for business if it’s not detected early.

#bookkeeper #smallbiz Reliable Books Business Services

Sunday, January 29, 2023

Consider the opportunity cost when making your decisions

Opportunity cost is the value of what you lose when you have to choose between two options. When making a decision make sure you consider the opportunity cost.

When you do your own bookkeeping, opportunity cost is the valuable time you are spending on bookkeeping. That same time you can spend on building your business.

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