As entrepreneurs, we spend lots of time learning about marketing, networking like crazy, reaching out for new clients, and becoming “known” and connected on social media.
Yet there’s an elephant in the room that only a few are willing to acknowledge. He’s not as colorful as the images on Instagram, he doesn’t “LIKE” your quotes on Facebook and he certainly isn’t writing your next blog post.
I’m talking about the least sexy part of your business and also the most crucial to the vitality of your vocational bliss… your finances!
Every business person must pay attention to the numbers in order to thrive, but it seems much easier to avoid the pain of what we might find behind the curtain. Whether earning a health income or not, this kind of denial can be devastating mentally, emotionally and even physically.
This post is a “shout out” to those who no longer want to ignore their numbers or allow their finances to remain obscure, or a disorganized mess. It’s time for us to grow stronger roots and rise up with new financial strength on behalf of our vision, clients and the incredible passion we bring to our work every day.
When working with clients privately, I’ve seen those who don’t or can’t manage their numbers consistently (or intentionally). They don’t know what kind of financial production is enough or how many more clients they actually need.
They don’t have specific financial goals they’re shooting for or have a way to know when they’ve “arrived.” Consequently, they can’t ever relax because they think they continually have to be working on getting more clients and making more money. It’s a game that no one can win, not even the best of us. Inevitably, this causes serious burnout.
Entrepreneurs are notorious for choosing to “go with the flow.” We can’t be tied down. We want to live “in the now,” yet this flexibility often makes us choose poorly.
Over the next few weeks, I’ll be sharing information and training to help you understand foundational principles for cash flow and cash management and how to build money management best practices into your business (without pain or suffering). This is the kind of information every service oriented professional needs to have, yet very few actually do have it.
Clearly, those who take it on enjoy significant advantages!
This is such a critical topic that I’m bringing in Dan Bowser, my business partner in another endeavor (one that involves financial analytics with a Fortune 50 manufacturing company and its suppliers), to contribute his expertise and wisdom on this topic.
Here’s my promise to you: Nothing from us will be laced with complicated lingo. Entrepreneurial service businesses don’t need the kind of complexity or sophistication that Dan and I use when we’re analyzing multi-million dollar companies.
You need simple straight-forward and practical advice. You don’t have to be a rocket scientist or plastic surgeon (wink wink). All that’s required is a commitment to fulfill the dream on which your business is built.
So if you’re ready to ramp up your game and take your business to another level of freedom, contribution, AND profitability, stay tuned. We’ll be back with more details in a couple of days.