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.
This last point in my opinion is ONE major benefit you must seek to extract, if you choose to engage the services of a developer. S/he should be able to help you develop (in_house) expertise needed to maintain the application AFTER s/he is gone. If you fail to ensure this, all your cost_savings from using the application might end up being spent paying the developer to maintain the application over time in the future!
1. The Pareto Principle _ Using spreadsheet tracking, you can easily apply the Pareto principle in deciding which of your income sources and expense channels(i.e. products and services sales) to focus on in order to maximize profits. Considering that you are most likely to use the same marketing/sales resources to serve your customers, it only follows that if you focus on your biggest margin selling products/services, you will get increased profits at more or less the same cost.
The claims I make above are NOT exaggerated. They are in fact based on my personal experiences doing the foregoing (a). As an manager in the challenging, fast_paced manufacturing work environment of a corporate multinational (b). As a solutions developer for individuals and businesses who use MS Excel for their work.
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