Deciding What Spreadsheet Application To Use. This would ultimately be up to you. The big "fight" has always been between Lotus 1θι and Microsoft Excel. I started out with Lotus 1θι back in 1993 and learnt Lotus Macros programming(via self_tutoring). I eventually used this skill to develop _ in my free time _ various custom spreadsheet solutions(that were formally adopted for use in the departments I worked in as a brewer/manager in Guinness), before switching to Microsoft Excel in 2001. Subsequently, I developed my Excel Visual Basic spreadsheet programming skills (also via self_tutoring), because the company had chosen to adopt MS Office during the roll over to year 2000.
A person with proven competence in this area CAN become "notorious" for developing spreadsheet applications, which eliminate drudgery from the process of using MS Excel to handle large amounts of data. Typically, work that takes hours or days will suddenly take minutes or seconds to finish.
2. Sourcing Capital _ For Expansion or Startup. You can make it easier for banks and prospective investors to back you financially and/or take the decision to buy into your business. Those already running their businesses will know that banks like to see detailed business records that show in real terms all aspects of a business' performance. Without detailed and comprehensive spreadsheet tracking, it might be difficult to show this. Agreed there are software applications that capture most of these. However, sometimes, you want to highlight certain scenarios or trends in a way that an off_the_shelf application cannot accommodate due to the uniqueness of your need. It is in this regard that the use of spreadsheet tracking becomes relevant.
The intelligent use of spreadsheets, combined with the application of the 80ᚼ rule will help to achieve the foregoing and more. One does not need any expert to start doing these things today. Just take the decision to start keeping daily, accurate records and commit to analysing them. You'll be surprised to find that you will soon become much more aware of how you're doing and what aspects of your business you should focus on more to get better returns for your efforts _ and you will be able to confidently supply verifiable/authentic financial data to back up any claims you make about your business performance to bankers or prospective investors.
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