The Importance of Knowing Your Numbers in Your Business

The Importance of Knowing Your Numbers in Your Business
April 11, 2018 Biznostics

 

Business is a numbers game.

It is essential to know your numbers so that you can maintain focus and have visibility on what is going on in your business.

So are your numbers up to date?

If you know your numbers, you will know where you are at in your business.

Your financial numbers are able to signify several necessary things about your business. They will tell you whether your sales income is on track, whether your costs are under control and how financially successful your business is at any moment in time.

If your numbers are not up to date, it is if as though you are running your business blind. Imagine driving a car with a blindfold around your eyes – you definitely should not be doing that; this applies to your business too.

Your visibility on your business is firstly through your financial numbers, so you need to ensure that they are up to date. It is only when they are up to date that you will be able to manage your business effectively. For example:

  • You will know if your sales income are reasonable and enough to achieve the profit you want.
  • You will know where things are at with your variable costs; if you are paying your suppliers too much.
  • You will know if your overhead costs are under reasonable control.
  • You will know where your profit is at most importantly; an ultimate indicator if you are doing well in your business.

Knowing your numbers helps you to keep focus on the important things that are going to help your business run smoothly and efficiently.

At Biznostics, we have created a variety of missions around your numbers to help you get a handle of where things are at with your business. This is important so you can run it more effectively and build it the way you want to with less stress.

 

P.S. Whenever you are ready here are 4 ways we can help you build and grow your business:

1) Download your copy of 3 Proven Tactics That Give You 5 Hours Back in Your Week

This totally free guide includes tips, time-savers, and expert advice on how to immediately claim back 5 hours of your time each week. Inside you’ll discover 3 proven tactics to stop time being wasted in your day so you get more done each week. To access the guide click here

2) Watch the Business Freedom Formula Video

In the video you’ll to discover the step by step blueprint we use to help small businesses create their version of business freedom. This could be simply streamlining your business so it runs more efficiently, increasing your profits so you have more choices or setting your business up so you can have time off without worrying that it is all going to fall apart. Click here now to watch

3) Book a 10 Minute Exploration Call

If you would like to explore how Biznostics can help you run and build your business, then book your 10 minute exploration call. On the call we’ll find out a little bit about your business and work out if and how we can help you.  Book your call here

4) Join our Business Freedom Program

The Business Freedom Program is designed for business owners who feel stuck in the day to day running of their business and their business is not running as efficiently as they like. It helps you make your business much more profitable, much more efficient and much more enjoyable to work at.  We are putting a new group together next month so if you would like to build a strong and successful business email us here with ‘Business Freedom’ in the subject line.