Monitoring is crucial because it helps entrepreneurs make informed decisions. By keeping a close eye on various metrics, you can quickly identify what is working and what is not. For example, if sales are declining, monitoring can help pinpoint whether the issue is with the sales strategy, product quality, or market conditions. Consistent monitoring also helps in forecasting and planning. It provides a clear picture of the business’s health, enabling entrepreneurs to plan for the future more accurately. This is particularly important when seeking investment or planning for expansion.