I spent most of my free time with him at his shop so I know the number of customers that walk in for a haircut daily and I know what his rates are, so by calculations, he should be making enough money even after rent and other expenses required to run the shop. So one day when he complains about rent I asked him how much he makes in a week and he couldn't tell me an estimated number.
What was the problem with this barber?
If you say that he has a good flow of customers and sufficient rates to make a profit, even after paying all taxes, then why did he have no money left, what was the problem?
Some people lead such a lifestyle that only keeping records will not help them, for this you need to learn how to plan a budget. Although accounting is very important in business, and after that he will see how much he earns, but if he does not change his lifestyle, does not reduce his spending, then he still will not have enough money for rent, because his habits are costly.
He will need to improve financial planning, and after he sees where and how much he spends, he will be able to understand how much he needs for a comfortable life, and in relation to this amount he will be able to plan his budget.
This is the basics of any business to keep records either manually or digitally on your devices, how come someone running a business without record keeping . I myself know alot of businessman and they have proper records of their earnings and spendings . They know about their profits and losses on monthly basic , they know their incomes .
So this is strange to hear that a person running a shop is not keeping any record.