Top 5 reasons to really care about the numbers of your business.Posted on
Top 5 reasons to really care about the numbers of your business.
As an accountant we often hear people joke about how boring our jobs must be. Counting beans all day long, HOW CAN WE DO WE STAY AWAKE? Investigating the numbers of your business is an exciting and, dare I say fun, adventure! To prove this to you here is a list of the top 5 reasons you care about your numbers.
- You care because you got into business to make money. And when you own a business, you can make as much money as your knowledge and skills allow. You sacrificed a stable job with stable RRSP contributions or pensions. You made that sacrifice because you wanted to build something amazing. This something amazing now needs to pay you big dividends and you need to know how to make that happen. Numbers identify how the puzzle pieces fit together to maximize this.
- You care because even though you know where you want to go, without knowing exactly where you are, it is impossible possible to know how to get there. Your numbers tell a story about your operations. Uncover the mystery of what is working and what is not.
- You care because you don’t want sleepless nights where you worry that you might not be able to make payroll. Knowing in real time how much cold hard cash is going in and out of your business regulate gives this piece of mind. Good cash flow understanding, and procedures can get you there.
- You care because you need to know if you should hire a new staff member or if your current staff has become a bit lazy or complacent. Knowing how to relate your financial numbers to operational numbers effectively can tell you this in real time. No more guessing in your HR function.
- You need a map that will inform you about the effectiveness of your decisions in real time. Believe or not your financial statements and other financial reporting can do all that…if it is arranged correctly. Number really can be a map of the way forward and not just a history book of what happened in the past. Want to know more?
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