The most stressing and yet fulfilling part of business is finance. Stressing when you’re trying so hard to earn a profit and fulfilling if you do earn a profit.
I have a question. What is the main reason for setting up your business?
It can be to help other or make things easier for them. But bottom line is, we all want to earn money from our business in order to get what we want and need in life; vacations, beautiful houses, cars, comfortable and secure life, etc.
It is not enough to earn money just to keep your business running, you HAVE to earn a profit to get what you really want from your business.
I do have another question. Do you know your numbers?
And I don’t mean your 1 to 10s, but the financial numbers in your business like budget, cash flow and payroll. Knowing these numbers can help you prevent troubles for your business or leading your business to the wrong direction.
If you don’t know and understand your number you’ll never know which part of your business is losing you money. It’s a hole in your profit bucket that if left unplugged, will slowly but surely take all of your profit away.
Don’t know how to look for those numbers? Don’t worry, we got you with the Finance Key.