One of the BIGGEST mistakes I see creators and leaders make when it comes to creating their financial success is to not face their numbers head on. In fact, it’s not just about knowing your numbers, it’s about loving your numbers too. How you FEEL about money influences the results you GET around money.
I know all too well how it feels to act from fear around money (when I had not a penny to my name). I know what it’s like to hide away and ignore this most important aspect of business success. I understand how it’s easier to make excuses to keep the reality at arms length. BUT I’m here to tell you that THAT isn’t the way of an empowered leader & creator or woman who is in charge of her life.
I hear things like…
I’m no good with figures
I’ve got a rough idea
That’s just not good enough.
Creating wealth, whatever that figure is to you, will not happen by chance. Hoping, wishing, praying doesn’t cut it.
So let’s get REAL about what it takes to develop your relationship with money and figures so that you fall in LOVE with your numbers (I spent a joyous few hours yesterday with my numbers – current figures, past results and future projections and goal setting). It IS possible. I’ve gone from scared to the point of being terrified (I’d end up living in my car), to doing the work I do today to empower other women and help them create their lives of financial passion.
I want you to be in a place where you know our figures inside out and here are some of the metrics I want you to develop, track and love. There will be a direct influence on the actions you take, how much money you make and how much attention you give to your numbers. What you give attention to increases, it’s a simple as that.
Money metrics to measure;
– Your money goals – daily, weekly, monthly, yearly
– Your products/services and prices
– Sales made. Profit made.
– Bank balance
– Savings balance
– Paypal balance
– Cash in your purse
– Services to pay for (home, car, business)
– Staff costs
– Other expenses
– Loan/credit card balances
– Break-even figure
– Recurring income and activity
– Hours worked (though this is harder to track when your are living your passion as we can’t STOP working!), and how much you are making per hour. Though I know most of us will do our work because it’s our calling and we would do what we do without money anyway, it’s good to have an idea of this to see if there’s anything that can be done more efficiently.
– How many clients you have and the average client financial value
Also (though this is more on the sales side of things) you may need to factor in the ‘collection’ time. How long it takes you to receive money. This is especially applicable if you send invoices and have to wait for your payments to come through. TIP. You DON’T have to operate your business this way. I spent years invoicing clients in my business and waiting for payments until I had enough & I stopped. The RIGHT clients will pay for your services in advance. I don’t deliver any service until it’s paid for now. It’s taken a whole heap of time, stress, worry and waiting out of my business and I highly recommend it.
All of the above might sound like a lot but once you know your figures it’s easy to keep on top of.
Knowing your metrics can make or break your business and your financial success.
I want you to be in NO DOUBT of where you are and where you want to be with your finances.
PS Want to work with me privately on your products, services and sales? Then join me in Chichester for a full VIP Day where we immerse ourselves so that we lock in your success. If you can’t make it in person we can meet on skype. Check out some of topics that we can cover on this life-changing day!