Delve into the importance of recognizing your business numbers and stop ignoring the facts. Discover why focusing on profit is more vital than just income. Learn how to view yourself as a cost, and understand your average session cost. Get insights into effective forecasting and assess your capacity to grow. Uncover the easiest opportunities for improvement and understand why protecting cash flow is crucial, especially when managing staff. It's time to stop burying your head in the sand and take control of your business!
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volunteer_activism ADVICE
Face Your Business Numbers
Stop burying your head in the sand about business numbers and start tracking them regularly.\n- Use financial data to proactively manage your business, not just react to past results.
volunteer_activism ADVICE
Focus on Profit, Not Income
Focus on profit, not just revenue, to ensure sustainable income.\n- Consider yourself a cost in your business to understand the true expenses and pay yourself accordingly.
volunteer_activism ADVICE
Make Income Goals Tangible
Use financial forecasting to plan how to reach your income goals by breaking down revenue into concrete targets.\n- Calculate average session cost and required client volume to create achievable weekly or monthly targets.
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Welcome to this episode of the Treat Your Business podcast. In today's episode I'm going to ask you a big question.
The question is... "Are you being an ostrich when it comes to knowing your numbers in your business?"
We often bury our heads in the sand when it comes to knowing the numbers, and it's hard to have the time. I hear all the time that people, business owners actually struggle to spend any time on their business, let alone thinking what their business is going to do moving forward or what their business is currently doing.
So with that in mind, the key points I'll be covering in today's episode:
Are you being an ostrich when it comes to knowing your numbers?
Focus on the profit, not the income.
Think of yourself as a cost in your expenses.
How to figure out your average session cost.
What is forecasting and how does it work?
How do you know if you’ve got the capacity to grow?
Where the lowest hanging fruit is in your business.
Why you need to protect your cash flow -.
You need to be aware of that as a business owner when you’ve got staff.
Treat Your Business podcast is proudly sponsored by MBST, the groundbreaking technology revolutionising recovery and rehabilitation. Offering a non-invasive, drug-free solution for musculoskeletal conditions and nerve injuries, MBST works at a cellular level to stimulate regeneration. Expand your services and deliver long-term patient improvements without increasing your workload.
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