How do you make financial decisions for your business? Gut instinct? Look at the bank account? Or check your financial reports and cash-flow statements?
If you just cringed at the thought of actually reading financial statements then you may need to start thinking differently about the money side of your business if you want it to actually flourish. It’s nowhere near as hard as you think it is – and it is very EMPOWERING!
I’m always puzzled when I hear business owners say they don’t like the money side of business. Running a company and hating numbers strikes me as a little like being a massage therapist and hating to touch people.
If you could overcome some of your money habits, skills and current thinking, what would give you the most confidence in running your business?
What would, you need to know for peace of mind that things are working as they should?
- Money in the bank?
- Forward orders?
- Work in progress?
- Your regular bills/debts taken care of?
- Invoices done properly and timely?
- Debt reduction – you are making headway?
- Paying yourself regularly – and paying what you are worth?
- Never having to scratch around for money?
- Play money for holidays, toys, treats?
- Money to give to others?