out of your business? The three main financial statements you can use at your small business are the income statement, balance sheet, and cash flow statement. The income statement measures the profitability of your business during a certain time period by showing your business’s profits and losses. The balance sheet shows your business’s financial health, measuring how much you owe and own. And, the cash flow statement shows how liquid cash is at your business. Measuring business performance means checking out the money flow of your business. If you want to see how profitable your business is, check out the financial statements. 2. Check Customer Satisfaction One important measurement of small business success is customer satisfaction. If your customers aren’t satisfied after buying from your business, they probably won’t do it again. How do you measure customer satisfaction? There are a few different ways, including through surveys, reviews, or even asking, “Did you find everything you were looking for?” Take pride in excellent customer satisfaction. Look out for reviews and make sure your customers are happy with your products or services. When you receive reviews, post them on your company website. That way, others know what real people have to say about your products or services. Customers help us improve our products. Customers know what they need, and you learn how to satisfy their needs by listening to them. Many of the features you may add to your products or services should be driven customer requests. 3. Average How Many New Customers You Get Knowing how many new customers you get is a great way to measure your business’s success and predict growth. If your business is stagnant with the same 25 customers, you might need to kick up your marketing strategy. See if the people buying from your business are existing customers. Develop a client list with email addresses to track customers. That way, you can easily count the number of new customers per month or year. Average how many customers you get from each new business action, like adding products or upping your marketing efforts. By averaging your new customers every so often, you can measure how successful your business is at drawing in new people. ...to be continued next week. Culled www.forbes.com and adapted Do you know any entrepreneur between the ages of 18 and 40 with an inspiring Business Story?