BLACK CHAIR: BUSINESS SUCCESS TV
Episode 18: The most exciting numbers
Welcome to Black Chair. The single-minded purpose of Black Chair is to help you succeed in business.
“How much money do you really need to make to be profitable?”
In this episode, we discuss the most avoided topic in business – your key numbers!
What’s your revenue? What’s your profit? How about your margin or forward book? Not sure? Not interested? Well it’s time to get some real excitement into your business life. It’s time to talk about your numbers.
“It’s not as scary as it sounds!”
Watch this ultra-short episode of Black Chair and you will:
- Understand why people avoid talking about their numbers;
- Get a ultra clear on why avoiding your key numbers will cost you dearly;
- Learn the value of understanding your key numbers;
- Get guidance on which key numbers to focus on;
- Get inspired and motivated to understand your basic numbers;
- Stop missing out on the success you deserve because you avoid your numbers.
Enjoy the episode and benefit by taking immediate action on what you learn!
To your continued success in business and life,
Robin ☺
PS: remember to add your experience, thoughts and ideas in the comments.
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Robin is a proven business facilitator and mentor who will get you diamond-focused on the plans, strategies & tactics that deliver lasting success.
12 Responses to this post
August 12, 2010 at 8:03 pm |
Hi Robin
What an important subject and so often as you say not given the time to learn and understand – it impacts on every aspect of your business do you know:-
where your revenue is coming from
tracking how it is paid
what time it takes to be paid
who owes you money
Sales targets being met
Customer demographics
CRM implementation
What you spend money on
What % of the income you make is then spent on the expenses in your business
Who your suppliers are
What are your discount terms
What are your trading terms
How much do you owe suppliers
And thats just a few – dont you think those things are exciting to know to give you information to make informed decisions that will improve your business
I DO!!!
Thats what I love about what I do – Im not JUST a bookkeeper Im someone who can analysis this for you, get excited about where your business can go with you, care about what the numbers are doing in your business, keep up with constantly changing legislation in GST, HR and OHS – these too all have financial impacts on your business
TAKE CONTROL!!!
Cheers
Leanne
August 30, 2010 at 11:49 am |
Thank you, Leanne. Your comment is a generous build on this important topic. Thank you.
August 12, 2010 at 10:19 pm |
Our accountants are always pleased with us as we have no biz expenses or debts:) Now if I can only stop giving away my services FOC things will be looking fab.
I love your black chair series please keep inspiring me to bank more:)
August 30, 2010 at 11:50 am |
Now that’s something you can surely bank on, Annabel.
August 13, 2010 at 8:05 am |
Great Black Chair episode, thank you Robin! I’m doing my best to follow your advice, and because I want more control over my numbers, I’m currently in the process of changing the way I delegate / manage my bookkeeping.
One of the things I like best about knowing my numbers better is how it gives me crystal-clear vision on which ones of my tours and services are most profitable. From there, I know which part of the business I need to really focus on.
Now I’m not quite there yet on your whole “you’ll see, it’s going to be FUN!” thing, but I’m making progress
August 30, 2010 at 11:51 am |
You are indeed. Well done, Myriam. We certainly have robust commercial conversations nowadays!
August 13, 2010 at 8:18 am |
Thanks, Robin, for the inspiration.
In my microbusiness, I’ve always kept track of income and expenses, and categorised them to reflect how I operate. It’s always been a buzz to see how much I’ve contributed to the family finances (I’d been a stay-at-home mum for most of the thirty years before I started Perfect Pages).
Now that I’m actually implementing some strategies, rather than just hoping and waiting, it’s time to measure more than just gross profit at the end of the year. It will be about helping me make informed decisions, rather than just relying on what’s available or what feels right.
I may not ever be as enthusiastic about numbers as Leanne is, but I’ll have a better picture of the whos, hows, wheres and whys of my business.
Desolie
August 30, 2010 at 11:52 am |
Well done, Desolie. That’s an inspiring comment! Thank you.
August 24, 2010 at 7:24 pm |
Thanks Robin.
You certainly know how to touch a nerve! I think for many people, including me, the numbers can seem daunting. You’ve inspired me to step temporarily off my creative cloud and plant my feet firmly on the ground of my business’ profitability. What could be more empowering?
I’m looking forward to the next in your Black Chair series.
Emily
August 30, 2010 at 11:53 am |
Thank you, Emily. I’m sure your comment resonates with many of us. I look forward to our first commercial conversation.
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