As a Business Owner :
Could you be suffering from Numerophobia?
If any of these seem familiar to you, please keep reading
AS A BUSINESS OWNER ARE YOU TIRED OF
It’s time to take your business from loss to profit
In today’s constantly changing business climate, it’s critical that small business owners understand exactly what is driving the expenditure and revenue of their companies. Without a good working knowledge of financial management, you won’t have the necessary tools to shape the future of your business.
More than 80% of small business failures in Australia are the result of poor financial management. This crisis actually comes from ignoring the usual, day-to-day business affairs such as cash flow, debt, pricing, expenditure and profit margins, and trading.
If you’re a small business owner, there’s a good chance you’re overwhelmed by the constant pressures of keeping your business running, managing a staff and getting customers coming through the front door. You may struggle to understand your numbers and are perplexed why there’s no money in the bank on the day payroll is due.
If these are some of the issues you struggle with you’re not alone, but help is at hand.
Because being good at what you do is no longer enough to succeed in business.
People often concentrate on “doing the business” they love, and yet they don’t have a plan for building the business. There are no systems in place to keep track of finances and, before long, they’re struggling to make ends meet, dipping into mortgages to make payroll or pay GST. If you’re not reality-checking your numbers on a regular basis, then you’re setting yourself up to fail.
Running a business without understanding your numbers is like getting into a car for a major road trip without a working fuel gauge. Learn what your business has to tell you so you can run your business, instead of it running you. The reports that have been managing big business for more than a century are right there. They provide you with all of the information necessary to manage your business.
But just getting the reports is not enough. You actually need to understand them. There is a story behind the numbers that will reveal the true health of your business. You can’t afford NOT to master these numbers. Your business (and your home and your future) are on the line.
With a good grasp of your numbers, you can stop driving blind and be proactive about your business.
You’ll see if expenses are getting out of control and problems are developing. You’ll find out when and where you’re drifting off course before the situation becomes catastrophic. ProfitSmarts can help you learn how to run a better business, so it doesn’t run you into the ground.
So are you ready to collaborate to ensure your business’s success?