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NINE REASONS TO PRIORITIZE YOUR NUMBERS.
Hey Founder,
Taunya here, your go-to gal for kicking financial procrastination to the curb and unlocking your fullest potential.
As a Founder, you've likely got a million and one things on your plate, from building a killer team to crafting an irresistible offer, I get it. But let me tell you something: if you're not making number a top priority, you're setting yourself up for a rough ride. Here are nine reasons why putting numbers first is paramount:
1. CLARITY EQUALS POWER
First and foremost, numbers, specifically forecasting those numbers, provide you with a crystal-clear roadmap on how to build a financially secure business. They illuminate the path that will get you from where you are to where you need to be, while addressing all four pillars of business: HR, Ops, Marketing and Finance. A financial plan IS your business plan in numbers.
2. STRATEGIC DECISION MAKING
Running a business is about making the right decisions at the right time. And numbers are your secret weapon in making the right choice. They provide the data you need to chart a course for success and avoid costly mistakes. They turn confusion into confidence.
3. PROFITABILITY IS KEY
Let's face it – no business can survive without making a profit. By prioritizing the numbers, you can identify opportunities to boost your bottom line and maximize your impact. After all, purposeful profit is the name of the game.
Numbers don’t lie. When you prioritize them you can spot potential issues early on and take corrective action before they spiral out of control. It's like giving your business a regular check-up – prevention is always better than the cure.
5. RISK MANAGEMENT
Entrepreneurship is inherently risky, but that doesn't mean you have to fly blind. By analyzing your numbers, you can identify potential risks and take proactive steps to mitigate them. It's all about staying one step ahead of the curve.
6. INVESTOR CONFIDENCE
If you're looking to attract investors, you better believe they're going to want to see the numbers. Demonstrating a solid understanding of your finances not only inspires confidence but also shows that you're serious about the long-term success of your venture.
7. SCALING AND SELLING
Dreaming of selling or scaling your business to new heights? Well, my friend, you can't do it without a solid foundation of numbers. Whether you're thinking of selling to your team, opening new locations, or ramping up production, knowing your numbers ensures a smooth and successful transition.
8. EMPOWERING YOUR TEAM
Your team is your greatest asset, and they have to be on board with your vision. By sharing key metrics and financial goals, you empower your team to make informed decisions and take ownership of their role in driving the business forward.
9 . PERSONAL GROWTH
Last but certainly not least, prioritizing numbers isn't just about the success of your business – it's about your own personal growth as a Founder. Embracing the numbers forces you to step outside your comfort zone, learn new skills, and become a better leader in the process.
THE BOTTOM LINE IS THIS...
Prioritizing numbers turns confusion into clarity, chaos into control, and doubt into certainty. So grab your calculator, roll up your sleeves, and get ready to take your business to new heights. You've got this!
BTW, this is what we do best, help Founders like you nail their numbers. We're an email away [helpdesk@nailthenumbers.com] if you ever need help or want to talk about your financial situation.
Until next time, stay focused, fearless and financially fierce!
Taunya.
ABOUT TAUNYA WOODS RICHARDSON
Taunya is well-known for her straight-shooting, bottom-line-building approach to founder finance. As the Founder of Nail The Numbers, she brings 30+ years of experience in entrepreneurship, finance, and neuroeconomics to our mission of strengthening the minds and bottom lines of Founders across North America.
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