Your Numbers Tell a Story

Fiscal Year End…
We all face this fact of business whether we want to or not.  I have been working on my year end for the past few days.  No major surprises, no gasps or frustrations.  Why?  I have made tracking my financial results a weekly routine.

 

Do your Numbers Cause you Stress?
In my book “The Winning Way“, I share three key attributes for good leaders.  Knowing your numbers was one of those attributes!  Why?  Your numbers tell you how you are doing and can provide great feedback when you are looking ahead.

 

I regularly work with entrepreneurs and businesses who are “financially challenged”.  In other words, they avoid their books (accounting records) because they
  • don’t like what they seeBudget Expenses
  • don’t understand what the numbers mean
  • don’t have a good record keeping system so they can’t track them if they wanted to.
If you feel this way you are not alone.  Having acknowledged this fact doesn’t mean it’s a good thing.  When you put your head in the sand your fiscal responsibilities and the numbers won’t go away.

 

End the Number Phobia

I encourage you to eliminate the numbers fear factor.  Your numbers offer valuable insights into your business and how to lead it into a more profitable territory when you leverage this information when making key decisions.

Numbers can be your best friend if you are ready to end that “financially challenged” feeling.   Regardless of how you track your revenues and expenses, on a spreadsheet or a software program like Quickbooks. these 5 small steps can help you ease into positive financial oversight.

1.  Look at your revenues for the week
2.  Look at your total expenses for the week.
3.  Did you earn more than you spent?  If yes, you made a profit  If no you lost money.
4.  Now identify 2 -3 small action items you can take right away to improve your revenues for next week.
5.  Recognize how these small action items made you feel.  Are you more empowered? Why /why

Getting comfortable with your numbers can take time… be patient.  If you want to build systems to grow your business, I recommend that you book a complimentary Ignite Business Assessment session.  Together we will identify your next key steps.

 

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