It often surprises me to see how many seven figure business owners are afraid of numbers.
To them the financial matters of their business are not their concern. This is left for the numbers people: accountants, bookkeepers and CPAs.
The only number that gets any attention is revenue. Your business doesn’t run on revenue it runs on margin and that margin needs to be good enough to cover operations and leave you a profit…but this is a topic for another post.
While I’m not advocating that you do your own books and file your own taxes, you need to understand your financial dashboard well enough to make the right decisions.
Refusing to learn and master this very necessary skill, is the same as deciding to go on a long road trip but refusing to look at the gas gage because you’re not an engineer or an auto mechanic…
…or worse, pressing the accelerator but having someone else grab the wheel.
Now the reason you avoid numbers is not because you’re bad with numbers or don’t care about your business.
This is purely a mindset issue: blocks and beliefs about money that are detrimental to your success as a business owner.
Once you recognize this and heal it you’ll be anxious and excited to look at your numbers daily and to learn what you’re financials are trying to tell you.
?You are NOT bad with numbers.
?You are not NOT a bad money manager.
Here is a big secret CPAs don’t want you to know: we use calculators and other sophisticated software. We don’t walk about doing transactions in our heads.
So you can learn this skill and love
It too.
This is not optional but required to ensure the success of your business.
Yahaira Botello