A grifter is a con artist who puts on an act to get you to do something. What does this have to do with accounting? Have you ever heard of a Ponzi scheme – it was a person who convinced lots of people that they could make lots of money by investing with them. Unfortunately this happens every day usually on a much smaller scale but if you have lost your entire savings it is no comfort that only 10 other people were involved – actually it is more of a comfort knowing that millions of others were also duped.
So how do you keep your business from being the victim of a con artist? The best way is to know your numbers. If you know what your return on investment is then when someone tells you they can improve that number you have a way to track it instead of just taking their word for it.
Know you your numbers – if you need help on how to read your reports we have a class for you here. If you need the reports we offer analytic reports on a monthly or quarterly basis to help you track your key indicators.