Know Your Numbers

If I asked you how your business was doing financially, would you be able to tell me in numbers rather than “good”, “not so good”, “could be better”, or “I don’t know”?  Well, most small business owners I’ve talked with can’t. They are either afraid to look at the numbers fearing they are horrible or they don’t think it matters because it’s just what’s in the  checking account that is important to them.  

Knowing your numbers can relieve and prevent a lot of unnecessary stress.  One particular client of mine fell into the first category – fear of the anticipated bad news.  However, when we actually looked at the numbers, he was surprised to see that they weren’t nearly as bad as he thought.  And when we looked at his break-even numbers, he realized that he simply needed to sell one more “widget” per day to be profitable in less than a year.  “Would you like fries with that?” This simple phrase made McDonald’s millions of dollars in additional revenue.  Do you think they knew their numbers and what it might take to improve them?

In our Quarterly Planning Sessions, we show you tools to help you determine not only profit and loss, but break-even numbers per quarter, per month, and even per day.

To attend, register on-line at dogwoodbusdev.com.

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Today’s Motivation:

  • Change your thoughts and you change the world.