It is surprising to me how many solo entrepreneurs put blinders on when it comes to their financial reports. Cash flow projections, income statements, ROI tell the story of your profit or loss, and provide necessary information to help you manage cash flow, implement marketing strategies, and make investment decisions.
If your eyes just glazed over, or your mind went into overwhelm, then today’s #TappyBreak is a must for you.
“One of the pillars of entrepreneurial success is: know your numbers.” ~ Ande Lyons
Get rid of your money shame, fear and ignorance. If you want to be in the black, you’ve got to know your numbers! It is actually rather empowering to know them. You can make informed decisions, set realistic goals, and have a more defined sense of purpose and priority with your schedule.
When you show your numbers some love, respect and attention you will watch your bottom line rise. It’s like any relationship, the more you cultivate it, the better it gets.
I will admit, I wasn’t very attentive to my numbers the first few years in business. Then I hired a bookkeeper. Even though I took this very necessary step, I did not embrace the opportunity as fully as I could have. Every month she would send me my reports and I would ignore them – not very loving at all.
On the months when she would meet with me to go over the reports, business improved. So now I have a monthly date with my reports.
My weekly date is with my cash flow projections spreadsheet. I get pretty motivated to pick up the phone when I know that my numbers for that month aren’t up to snuff.
Jessica Vienneau of Above The Barr is my rocking bookkeeper.
If you are still here reading, there’s hope for you. So join me for this episode of #TappyBreak to tap through the barriers you have to knowing, embracing and loving your numbers.