If you don’t know this yet by now, I’ve always loved numbers. How there’s no hidden meaning behind them once you figure them out. How they just make sense. Yes, I’m a full-fledged numbers geek, but I understand that not everyone is the same. Most biz owners avoid talking about the business numbers as much as possible, especially those who are just starting out.
But, of course, there’s no avoiding it. Knowing your business numbers is key to knowing where you stand and how you will move forward. If you don’t know your numbers, it’ll be hard for you to make smart decisions about your business. It’ll prevent you from growing and scaling in the most successful way possible.
To simplify things, I’ll walk you through the 5 basic business numbers that you need to be aware of. In the video, I discussed the following numbers in detail:
- Revenue (Total Amount of Sales & Income Brought In)
- Expenses (The Amount Spent to Run Your Business)
- Profit (Total Revenues – Total Expenses = Profit)
- Cash Runway (How Long Before You Run Out of Money)
- Customer Acquisition Cost (How Much You Pay to Acquire Each New Client/Customer)
Watch the video now to learn more about each of them. If this is not enough to convince you to dive into those business numbers right now, then you might want to get inspiration from these successful business owners.
In this post, you’ll learn some important lessons from actual clients that I have talked to and helped. You might even find that you’re in the same spot now as these business owners before they decided to start knowing their business numbers more seriously. Find out how they radically changed their businesses with just 30 minutes of diving into the numbers so you can start doing the same.