Are you able to make objective factual decisions based on the numbers that you see in your business?
Most business owners have access to the numbers they need to understand their business.
However, too few of them take the time, or even have the time, to grasp what these numbers mean for business growth and sustainability.
Do your numbers all add up?
One of the key reasons businesses struggle is by failing to apply the numbers objectively, and knowledgeably, in the decision making process.
So often gut feel is used, and unfortunately these days the margins are so tight in many industries there is little or no scope for error.
So, what are the benefits of knowing your numbers?
- Improved cash flow management through effective billing and collection, and payment of suppliers
- You have tighter financial control
- You have a greater awareness of risks and opportunities and can properly examine and resolve financial issues
- And ultimately, you are able to make better business decisions
If you are unsure about the numbers in your business, and are looking to learn how to interpret these figures for increased sales, rapid growth and improved profitability, keep an eye out for some of my other videos where I will take a closer look at the numbers that matter in your business.
If you would like to understand the numbers in your business better, check out our previous blogs Improve your cashflow and Closing cashflow gaps, or even better, why not book your complimentary coaching session and we’ll chat about how to take things forward in your business.
