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Where Is Your Business Overspending?

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This story appears in the November 2012 issue of Entrepreneur. Subscribe »

Q: What are the most unexpected areas of overspending for a small and growing ?

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A: First, let's step back and ask ourselves: Why would any expense be unexpected? I mean, as a small-business owner, are you sure you're getting accurate financial statements every month from your bookkeeper or controller? And do you understand what those statements say, or did you just use the closest QuickBooks chart of accounts template? I don't mean to be harsh, but to a money-focused guy like me, if you're overspending, it's a sign that you're not on top of your game.

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