I run a mid-sized business in California, 22 employees, 1M sales. I`ve done all the books myself since inception. Sounds crazy, and is, but we`re managing. I`ve had no institutional financial training, besides the School of Hard Knocks. I outsource my taxes and have "once-in-a-while" CFO, with whom I`ve set up my books to be run by me and, minimally, judged by me. We have some ratios that tell me that our expenses are high, low or normal. Sales ratio that tell me if they are high, low or normal. Current ratio that tells me I`m in serious debt. And one to measure AR turnover. All of these I can manage. So, I`m keeping expenses low, sales high, trying to keep AR turnover low.
Bottom line, I know I`m missing MANY steps. I want to continue to grow. Current strategy is; get AP cought up, save for the next inevitable valley, then pay off debt. Any wizdom or book suggestions for a drowning man?