Updated: Feb 9, 2020
"You must gain control over your money or the lack of it will control you" – Dave Ramsey
I’ve met many smart, talented women running their own businesses. They’ve provided tremendous value to me in the time that I’ve spent with them and I’m certain they’d do the same for you. As an accountant, I get to hear the financial stories of these women. But getting them to open up about their business financials can be a challenge. Let’s be honest, money isn’t the most comfortable thing to talk about. It’s a part of your business that many people don’t know about in great detail.
A few common things I’ve found talking to businesswomen are:
- They are afraid of what they’ll find by looking at their financials. They’d rather not know because ignorance is bliss.
- They catch up with their accounting processes at the end of the month, quarter, or even year and don’t look at their numbers to help them solve their biggest business problems
- They just plain don’t feel good when their expenses keep going up and their bank balances are getting lower each passing day
Want to know something about successful business owners? They create successful businesses by learning how to think like a CFO in addition to being CEO of their company. They look to their financials for answers to help them solve their biggest business problems.
Even if you’re just starting up your business, be the CEO your company deserves and don't neglect the finances.
Set up a solid foundation by keeping your books squeaky clean
Create a budget
Run your financial reports each month
Analyze those financials like your business depends on it. They will give you the tools you need to make very important decisions.
Need help? Watch my VIDEO covering four simple, but effective tips you can use to save your company money by interpreting and analyzing financial statements.
Need more guidance? I’m only a message away.
Until next time!