What’s Your Number?

Posted: August 25, 2017 at 6:40 pm by Skip Kelley

I’m a huge fan of the show Shark Tank. It’s so much fun to watch the presentations given by passionate business owners and entrepreneurs using gimmicky tag lines and excitement, mixed in with a dose of nerves, to pitch their business idea to a group of successful venture capitalists.

What’s even better in my opinion is when the deal comes down to one thing. The money. The Sharks would arguably agree that the most important thing business owners are expected to know is their numbers, and all of them.

Business owners are required to know all the numbers, all the data and all the ins and the outs, of their business.

Now for a moment, I’d like for you to imagine yourself standing in front of all the Sharks. It’s your turn to make your pitch and you have to sell yourself. And by yourself I do mean, yourself, but also your business. In this case, I’d like for you to think of your finances as your business. So as a business owner you must know your budget, your monthly and annual expenses, what your income is and where it is coming from, your investments, your savings and much more.

It’s your time to shine… are you prepared? Do you know your numbers?

It is extremely important to pay close attention to your finances and to know all your numbers. If you were to change your way of thinking about your financial situation and approach it in a more business-oriented manner, how much different do you think your financial situation would be? Well, if I was to guess, I would believe that you would be a bit more cautious about spending the extra couple of dollars while out shopping.

A key principal to live by is to always be in-the-know. Knowing where your money is coming from and where it is going to then you can make your financial life run like a well-oiled machine. That sounds like a sturdy business that I’m sure any Shark would be jumping to invest in!

So, in this new light, what are you going to do to make sure you always know all your numbers?

See you next week!

You are using an outdated and unsupported browser. Please upgrade to continue.

This version of Microsoft Internet Explorer is over eight years old, does not receive security updates, and is not able to render modern websites. We strongly suggest updating your version of Internet Explorer or using a modern web browser such as Microsoft Edge, Google Chrome, or Mozilla Firefox