The Importance of Knowing Your Numbers

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The next thing I want to move into is not knowing your numbers. A lot of businesses going out of business are facing bankruptcy because they just haven't really known their numbers for years now. The first crisis, you know, I went for being a millionaire to $200,000 in debt. So I know the pain, many of you are feeling out there and you got to be prepared going forward for the next one.

From the archive: This episode was originally recorded and published in 2020. Our interviews on Entrepreneurs On Fire are meant to be evergreen, and we do our best to confirm that all offers and URL's in these archive episodes are still relevant.

Gino Wickman has been an entrepreneur since age 21. He is the founder of EOS Worldwide, and author of Traction. He is also the founder and author of Entrepreneurial Leap, with a mission to help 1,000,000 entrepreneurs-in-the-making over the next 10 years.

Top 3 Value Bombs:

1. Be a creative problem solver and be an optimist. See solutions instead of dwelling on problems.

2. You make decisions and are rebellious. You are willing to fail, but you do not intend to fail; you understand that failure is a part of the process.

3. In business, you are going to have 2 great years, 6 good years, and 2 terrible years. Be prepared and have at least 6 months of cash flow for your business and yourself.

Check out Gino's new book and other free resources! - Entrepreneurial Leap

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