I have met a lot of folks in my travels as a Business Coach and I regularly see folks without a written plan for the year. Many of these folks are successful and been in business for a long time. I ask them about there goals and financials for the year and they either point to their accountant or give me the number of their CPA. I think they are unsure of themselves when it comes to the numbers in their business. This makes it hard to set a clear plan for the upcoming year.
I am here to help with that if you fall into that category. But before we talk about it in any detail, the question I want to talk about is: "Why are the numbers important?" The people that I work with are experts in what they do. They deliver quality products and services to their customers. They pay their employees a living wage. The question that I want to explore is: "Are they getting out of it what they want?"
One part of why someone goes into business is to make money. For most people, money is not the endgame. Money is a means to another end. Some goal, some plan that they want to achieve outside of work. I simply want to know if their business is delivering its part of the plan. Most of the time the business is supposed to deliver money.
If you don't have a great handle on your numbers, then you will have a hard time setting a plan on your business. You do not need to understand every underlying detail. What you need is to soak in the overall numbers and then figure out how you get to them. Revenue and Profit are results and are normally Key Results. If you can get to them, you want to get to Key Performance Indicators (KPIs). If you can track your progress against your KPIs, then you can know if you are likely to meet your plan.
So if you want to know about your numbers or if you want to understand how to make a plan with KPIs, just let me know!
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