I am often gobsmacked at how many business owners don’t know their numbers. But if I’m really honest, I spent my first 5 years in business with my head under a rock, refusing to look at my numbers as well.
It can be scary right? I mean, what if you owe the tax man a whole chunk of money you don’t have? Or what if your bank account is zero again, and you have a repayment due tomorrow? Sometimes it’s just safer for your own sanity to NOT look at your numbers RIGHT?
Well, I’m here to tell you WRONG!
Its far more dangerous to be flying blind in your business. It would like flying a plane as the pilot, blind folded and with ear plugs in, unable to see your controls and what’s ahead out of the window. Downright dangerous right??!!
And then even if you did want to understand your numbers, well, they didn’t teach us that at school did they??! How do you even begin to know your numbers in your business? They are confusing and complicated.
One of the things I love to do the most in my mentoring with business owners is teaching them a really simple system to know and manage their numbers.
Because of the power of cheap software, we can set you up within a few weeks to automate the tracking of your numbers easily. You should be able to access your up to date current financial numbers with a couple of clicks on your laptop.
You should NEVER be waiting for your numbers to come back from your accountant (actually I’d love to teach you why should never ask your accountant what your numbers are anyway. Hint – accountants manage tax compliance, not analyse your numbers for what they mean to your business).
If you know your numbers, you can make smart educated decisions about what products are working and what aren’t, which staff members are worth keeping and which aren’t, which marketing strategies are working and which are costing you money. You know whether you can pay yourself more, work less, expand, contract, make more profit.
Knowing your numbers puts you in the pilot’s seat in your business, allowing you to control where you fly and at what height.
If you’d like me to teach you how to know your numbers, reach out for a 20 minute power call with me by clicking here.
Lisa Kylie x