In this episode, we’re taking a step back from the nitty gritty to address a phrase you’ve undoubtedly heard me say: know your numbers. Now, this may appear to be a simple idea on the surface. However, there’s much more to it than getting out the calculator or reading your P&L. The truth is, understanding your numbers will be your trusted compass, guiding you along the way to success in your business.
Today, I explain what it really means to know your numbers, using some colourful analogies that I hope will make you feel inspired and connected to this important aspect of your business. I talk about going deeper than crunching numbers, and discuss the importance of having a holistic understanding of your business’s financial health.
When it comes to really understanding your finances, I encourage you to take a step further and go beyond the math. However, I’m not saying you should avoid paying attention to basic calculations; you absolutely should be across them. Instead, I invite you to dive deeper and uncover the narratives or hidden story within those figures.
Are you seeing patterns when it comes to your monthly revenue? What are the trends you’re noticing, and are there any roadblocks? It’s important to peek behind the curtain to see the cogs that keep your business machine running smoothly. Uncovering the stories your numbers are telling will paint the true picture and give you an intimate bond to the heartbeat of your business.
I talk about how knowing where you stand financially will help unlock your creative freedom. Once you have a solid understanding of your numbers, you’ll have the confidence to take calculated risks, make decisions to experiment and pursue innovation.
Now, I know numbers may not feel like the most exciting part of your business. However, I believe that they are a roadmap that is integral to embarking on an exciting journey of discovery and growth in your career.
So, if you need some inspiration and guidance on delving deeper into your finances, this episode is for you. Remember, your business is an exciting journey full of potential, and your numbers are here to lead the way!
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