One of the worst mistakes a business owner can make is to wait until the last minute before fixing their finances. Yet, this is what most people do. Most entrepreneurs put it off until the tax deadline is almost upon them before working on their books. That is simply lazy and irresponsible, and no way to run an efficient business.
That is why we recommend that you make it a regular habit. You should look over the details of your finances at least on a weekly basis. It would take you as short as 15 minutes every week yet it can save you from massive headaches.
In order to fully commit to this habit, you should integrate it as part of your regular schedule. Pencil it into your calendar as you would any other appointment. This is so that you can focus on the task at hand. During that period, you should look into organizing your finances. Focus on the details so that you can see the bigger picture. Only by properly accounting your finances can you get a clear idea of where your business stands.