You see, it’s in our nature as business owners to be driven primarily by the sales numbers of our businesses, and whilst I can respect that this is such a significant number, and with the right amount of attention to it, it can impact a business positively … it has no significance unless measured against other numbers in our business.
Read MoreKnowing what you need / want from a financial system in your business should be decided with the same vision as deciding on the mix of products or services you have. Why? Because both decisions will result in a successful business if you get them right.
Read MoreThere is no truer word spoken than those that cash is king when it comes to small business. The volume of cash in our business determines the volume of product we have, it determines the number of staff members working, it even determines whether we can trade it all. So, what happens when we have no control over a quiet period in our business?
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And know your limits … be honest about them, and most importantly don’t ignore them! It’s so easy to just keep going, almost like the adrenaline a gambler feels when they think the big jackpot is around the corner and they continue to go all in, and continue to do so without a plan, without an understanding of just how much in “the hole” they are.
Read MoreAnd whilst I’ve made it my mission to help business owners become more familiar with working with the numbers and more comfortable with that side of the business it still becomes a challenge for those that don’t naturally love working with numbers.
Read MoreOnce you give yourself permission to accept that you don’t need to look at these numbers in the exact same way an accountant would, but to look at them as a business owner, you’ll find the freedom to interpret the information as a business owner should.
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