How many business owners get excited about sitting down to go through a spreadsheet full of numbers?
Yet, a great set of financial KPI's will show you all the results, all the profit, and all the growth inside that small detailed document. And, there's the problem. Business owners don't like detail, so they delegate it. In fact, they abdicate it.
My clients are given one goal - To get excited about being bored.
What does that mean?
Let me explain;
As a business owner, it's your responsibility to get into the detail of the business and stay on top of your numbers. That discipline of consistently doing what you know you should is fundamental to all your growth plans.
One of the bigest headaches is human error...
The days of manually feeding numbers into excel spreadsheets feeding into excel spreadsheets are long gone. With good reason.
A great move for any growing business is to implement some job costing software into your business for 5 key reasons.
- It eliminates human error
- It gives you a complete understanding of a project in progress
- It allows you to make sound financial decisions (no emotion/logic conflict)
- It gives the business owner access anywhere in the world (don't need to be in the office)
- It gives you simple reporting (eliminating hours of administration costs)
Once I moved my businesses off of excel accounting into simPRO job costing the business doubled in size (that's a big double). With that system in place, I was able to delegate the job costing effectively and still stay in complete control of my profits every month.
To build a super successful business you can't stop there. You've got to systemise the business to the point it's routine, or boring! And then get really excited about your business all over again.
Now here's a word of caution...
...you'll know this feeling.
Work is good. Leads are flying in. Sales are at an all-time-high. Production is going really well, and you take your foot off the gas (so to speak).
6 weeks later you're firefighting, discounting, and have no idea why you're behind or losing profit.
So easily done.
A solid set of financial KPI's isn't the most attractive work to do every morning, but it sure beats being under pressure to get the next sale.
What are the key numbers in your business?
Try writing them down for one week and see what a difference it makes.
Fore more info visit www.barryrandallinnercircle.com or email me on firstname.lastname@example.org