80% of Business Owners don’t know this

80-20_300pxDid you know that incredibly 80% of business owners don’t have a firm grasp of the numbers that are in fact the very lifeblood of their business?

I find this both fascinating and worrying.

Fascinating because I understand the power that understanding the numbers in your business can have, particularly in propelling sales growth and profitability, and I don’t understand why someone would chose to ignore them.

And worrying because there is a whole raft of legal and legislative reasons that you must understand and you are required to report your numbers to the relevant bodies. Failing to do so may be punishable by fines or worse. The buck doesn’t stop with staff, service providers, your accountant, or anyone else for that matter, it stops with you!

On a very real level the numbers in your business are a direct reflection on its ability to survive, to grow and to become profitable.  As profit is our focus here, these blog posts will continue to concentrate on that.

Numbers for many people take on an almost mythical form, dragons that need to be slain or mischievous pixies that confuse and befuddle when in reality they are completely harmless once the myths have been dispelled and the simplicity of them revealed. In fact, more than being harmless your numbers contain magic of their own that unlock the gates to hidden treasures and kingdoms full of milk and honey.

But one thing holds fast, they can’t be is ignored.

Harnessed well, they will empower you to create the type of business that can change your life and the lives of those you care about most.

However, be warned you ignore them at your peril.

So is not only surviving but ensuring your business thrives important to you?

To your profitable success,

Kelly

If you want to work on the profitability of your business now, you are welcome to click through to our completely free Profit Health Check Tool that will allow you to take the first few steps to a more profitable business today.

 

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Kelly is a qualified accountant with over 12 years’ experience interacting and working with 100s of small business owners. He has a real awareness of some of the struggles that many face when it comes managing the finance side of their business which he has alluded to in his best selling book Profit Rocket. He is passionate about helping small business owners to make more profit in less time with less stress.