I was talking to my bookkeeper last week.
We’ve been working together for years and she’s seen my business evolve over time. As the year draws to a close, we talked about my cash flow over the next couple of months, new processes and financial systems we’ll be putting in place in 2017 (as I become a 100% paperless operation), and enhancements to her own growing bookkeeping practice. (We’ll feature her as a sheBOOMer in the months ahead).
So, what’s the point? Your financial well-being as a founder and entrepreneur should always be in the center of your business table — all eyes on it. (I could make a pun about “cooking the books” here, but this is serious stuff!)
Many business owners get so caught up in their passion for their businesses (the feast itself and its many side dishes) that they neglect the turkey. They don’t put it in the oven soon enough…they don’t have enough of it to feed all their guests…and they may not even know exactly what to do with any leftovers.
In short, cash flow and KPIs (key performance indicators) are critical to any business. As wonderful as the trimmings may be, neglect of your financials can be a fowl move!
Before 2016 ends, take a hard and realistic look at your business measures. Do not fear math and analysis! If you need more cooks in the kitchen, bring in someone who can be objective and has the business and financial skills you may lack.
Here’s to a festive 2017…may you enjoy a cornucopia of riches!