I firmly believe that every business must be broken down into the atomic details of its costs. The most critical metric entrepreneurs must know is the margin (profit) on what they sell, and that can only happen when they know their costs. I insist that entrepreneurs must understand their business costs as intimately as possible and not just rely on accountants to figure out or advise them. Costing is the lifeline of a business and must be appropriated, reviewed and actioned upon by the owner and founder directly.
