Treat Your Business 009 Are You Being an Ostrich?
9 snips
Jan 25, 2023 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!
AI Snips
Chapters
Transcript
Episode notes
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.
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.
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.