We’ve reached November, and although it’s hard to believe, that means that the end of the year and 2019 are just around the corner.

When I’m working with my Celeste Giordano Coaching clients, we take advantage of these last months of the year to put a plan in place for growth, and I teach them strategies that will ensure they can meet their goals, even if they’ve had trouble doing so in the past.

So between now and the end of the year, I want to give you some of those same strategies.

Let me ask you… Does the financial side of your business intimidate you?

If so, trust me when I say you’re not alone. Often the creative types who are driven to be innovative, pave their own paths, and build their own businesses don’t find numbers engaging. They’d often rather be networking, selling, marketing – anything but number crunching. Can you relate?

That’s why it’s important to breathe life into your numbers, so you can see why they matter.

“A good financial plan is a road map that shows us exactly how the choices we make today will affect our future.” -Alexa Von Tobel

You don’t have to be a human calculator, but you do have to understand the business of numbers. Learn to understand the power of numbers and you’ll add tremendous value to your business.

To be successful in any business venture, there are a few key numbers you should always know about your business. Why? Because these figures are key indicators that directly impact your bottom line. They’re the signs that keep us alert to whether we’re gaining momentum or chartering dangerous territory.

Fundamental Financial Figures  

Know your cash flow – Cash flow is the amount of net cash generated by a business during a specific period. Because cash is the fuel that ignites a business, many consider cash flow to be a company’s most important financial indicator.

• How do you track your cash flow?
• What does it tell you about the viability of your business?

Understand profit & loss – The profit and loss statement is a simplified view of a company’s revenue and expenses for a specific accounting period (month, quarter, or year). You can use your P&L statement to make smart adjustments to your business operations.

Gross vs. net – Many times you’ll hear someone reference their income or profit and the amounts sound almost too good to be true. Don’t be misled by folks bragging about their numbers. Ask to clarify whether the quantities are gross (profit before expenses have been subtracted) or net (profit with expenses subtracted). It’s equally important to understand what you’re grossing versus netting in your own business. Only then can you be sure that your business is in good health.

Once you have a handle on those fundamentals, you can put the numbers into action, determining how you want to grow your business in the year ahead.

A Plan for Growth

First, you need to challenge yourself with some specific questions and honestly answer those questions. To make this more manageable, pick just one topic for growing your business, like how to increase sales, and ask yourself the following questions:

• Where is my business now in terms of sales results?  (This is your current state.)
• What are my strengths and weaknesses in terms of improving my business?
• What is common feedback, both positive and negative, that I receive from others regarding my performance?
• What other indicators can provide me with data to define the current state of my business?
• Where would I like for my business to be? (This is your desired state.)
• What gross and net amounts do I want to achieve?
• What expansion plans have I always wanted to implement to grow my business?
• What are my short and long term goals to make this happen?
• How many new leads do I need each month, week, and day to achieve these goals?
• How do I get there? What is needed?
• What more must I learn to meet my goals, and what resources are needed?
• Who will help me meet these goals?  Who will hold me accountable?
• When do I need to meet these objectives, and how will I plan for working toward them in my daily, weekly, and monthly schedule?

Use these questions to begin the process of setting goals for 2019, and make a plan to regularly review your progress toward achieving your goals.

If you want a guiding hand for figuring out your finances so you can “Double Plus” your income next year all while creating a lifestyle that allows you to spend time doing the things you love with the people you love most, contact me today.

Blueprint Magazine – Volume 4

“Celebrating Generations”

In this latest issue of The Blueprint, several articles focus on how you can smartly meet your professional and personal goals. Articles are written by authors spanning all generations, filled with knowledge to inspire and motivate you.

My hope is that The Blueprint inspires you in all aspects of your life – to grow your business, to prosper in your personal life and to serve the community and world around you.

Click here to subscribe for your free copy.

Celeste Giordano’s mission is to help business owners develop the skills, knowledge and attitude necessary to “DoublePlus^TM” their income and become effective and inspirational leaders in their fields. Whether it’s taking your successful business to the next level or starting a new venture, she will teach you the exact skills and strategies you need to enroll more quality prospects, build a rock-solid team, and break through obstacles to achieve real profit and lasting success. Celeste is a professional business growth specialist, a master sales strategist, and dynamic speaker with 40 years experience in direct sales and managing high-performing teams.

To learn more about Celeste, click here.

Want to use this article? Please feel free to use this content as long as you keep it in its original format and include a link to the original post and Celeste Giordano’s brief bio.