It may seem bonkers, but I am going to give you Five reasons to ignore your numbers. It’s only fair that I balance things to give you Five reasons to take note of your numbers
Here are Five reasons why you should ignore your numbers:
- Firstly, if you prefer to have no clarity, no focus or thought and approach in your business
- Secondly, if you prefer your decision making to be haphazard, more by the seat of your pants
- Thirdly, if your preference for running your business is to have a mindset that’s befuddled, to experience stress and anxiety
- Fourthly, control, understanding numbers being closer to numbers put you in the driving seat of your business, you’re no longer a passenger sitting at the back of the bus
- Lastly, you prefer to have a time-consuming hobby, and an expensive one to boot. You prefer not to make profits from your endeavors
In business, it is important to keep track of your numbers. This is especially true for small businesses and arts and social enterprises. Whether you are trying to make a profit or raise money for a good cause, your numbers are a key factor in determining your success.
Here are five reasons why you should not ignore your numbers:
- To measure progress. Tracking your numbers over time helps you measure your progress. Furthermore, you can see whether your business or project is succeeding or failing.
- Making informed decisions. By analyzing your numbers, you make better-informed decisions about allocating your resources, and how to grow.
- Setting goals. Knowing where you want to be in the future, in terms of profit and impact. This requires setting measurable goals, you need your numbers.
- To identify areas of improvement – no matter how successful you may be, there is always room for improvement. Analyzing your numbers can help you identify weaker areas so that you can focus on improving them.
- To inspire confidence – When potential funders or investors see that you have a handle on your numbers and know what you are working towards.
So, if you’ve been nodding along as you’ve read this article, then it might be time to take a step back and reconsider your relationship with numbers. Numbers don’t have to be scary – in fact, they can be incredibly helpful when used correctly. But only if you allow them to be. If you want to keep ignoring your numbers, that’s up to you, but I think it would be a shame not to make the most of all the information and guidance they can offer.
Good to know
To help you on your way, subscribe to my I Hate Numbers You Tube channel for more tips and advice on how to get the most out of your business data.
Are you ready to have an easier and more rewarding relationship with your numbers? My book, I Hate Numbers helps you get there.
This book is based on my 27 + years in business, helping thousands of businesses survive and prosper. It is an easy, humorous but serious read about running a business, having a financially rewarding relationship with your numbers, Furthermore, my book will help with that battle between the ears, that all business owners experience.