If you’re running multiple businesses within a single business entity or a business that generates sales by connecting with different businesses, I recommend managing the accounting for each separately. For example, if a car rental company also engages in car leasing, try to maintain distinct accounts for the rental and leasing sectors. This approach increases the chances of uncovering hidden costs or mistakes in resource allocation. In business, specific attributes necessitate this separation, leading to independent costs and improved profit structures. Neglecting this reality can result in bankruptcy without fully understanding the reasons behind it. The foundation of success is to avoid failure. - Joseph’s “just my thoughts”
This world is designed to obscure the distinction between cause and effect. Accurately identifying the issue is crucial for escaping a crisis or solving a problem. The first step in addressing a problem is to differentiate between cause and effect. After that comes the verification of the identification. - Joseph’s “just my thoughts”