Let’s talk about something you likely do every day: drive your car. When you’re in the driver’s set you determine where you go and when. You set the destination and the course. You feel a sense of relief and accomplishment when you arrive. You have control to set your path.
Now, think of that analogy when it comes to managing your business’ finances. You can take your place in the driver’s seat and take charge of your journey. Or, you can take a passive approach and be the passenger, with little say in where you’re going or how you get there.
Which method do you prefer?
As a business owner, you can’t shy away from money. It’s not an option. Those sad stories you hear about from successful artists who ultimately lose their wealth is because they had a hands-off approach to their money and didn’t know enough to manage their futures. As a small business owner, you have to be hands-on with all aspects of your enterprise, particularly your money.
Your business' finances allow you to see how far you have come and what you need to do to achieve your financial goals. Finances are a critical aspect of your company and setting priorities allows for you to plan for other exciting opportunities, including expanding your offerings and staff.
But you can’t get there without a plan. Whether a map or GPS, you need to know where you’re headed. These are your guides to arriving at a responsible, successful, sustainable place.
So where are you headed?
Having a watchful eye on your business finances allows you to always be in the driver’s seat. If you understand how to organize your financial records and read and interpret your numbers, you can quickly switch lanes if you feel you are going off course.
Come to a roadblock or detour? You can make a sudden stop, change your route, or speed up to beat the competition.
All of it is possible when you are deliberate in setting your financial goals. Don’t allow yourself to become overwhelmed--educate yourself and take charge. Take your rightful place on the road. Forge your path.
What’s your current revenue? What are your business expenses? What are your revenue targets?
These are not questions designed to strike fear in your heart. It’s not a pop quiz. I’m asking because they are central in taking control of your financial life. And having the answers represents the start of taking control of your business’ future.
Need help? Let’s talk. I offer a free 25-minute consultation to help you gain clarity on your financial goals. My joy comes from helping business owners like you move from a place of frustration to one of understanding and ownership. Getting a handle of the money your company brings in and how to manage it gives you power to determine your destiny. Who doesn’t want that?
Take the first step in mapping your journey and setting your course. Accounting doesn’t have to be scary. In fact, you may just find that you fall dangerously in love with your finances.