Imagine you start a long journey on foreign land where you don’t know the language. Besides all your packaging and preparation, what else will you do? Do you need time to learn your destination? I hope so.
So why do so many people enter business without learning business? What language is it, you ask? Dollar and cents. Well … dollars, really – leave a penny for those who are stupid. The reason people don’t learn the language varies. “Reasons” come in various forms. “I do not understand.” “What is the financial relationship with my business?” Or most likely, “I am afraid to see the numbers.” A coach colleague told me something really about home. He said, “If you are afraid to see your numbers, you have to get out of business now.”
Financial learning can intimidate. After all, with all the other things we need to do by business owners, who have time to learn about the amount, let alone work with them. And you will be partially correct. However, you don’t enter the business to become CPA (unless you do it). So why do all the noise about studying numbers? Let’s say that if you don’t know your number, you don’t have a business. Or, rekalah, you can’t set up what you don’t measure. So what do you need to measure? You need to know if you get a profit, cash flow forecast, assets and liabilities for your company and your equity as the owner. Basically, what economic indicators trigger your company?
To learn this (and more), you need help. Of course, there are many books that you can read to understand these concepts. There are also courses that you can take in local colleges or through local business associations. I will really encourage you to learn as much as possible from this. However, if you like me, you will need someone to help you with this. I always recommend you work with an accountant – and if you are my client, I will need it. Sure, you can try to do it yourself, but will you try brain operation on yourself after reading the book on it? Or do you have your brake rebuilt by your mother’s uncle next to the 12 year old Nephew who watched the video about the problem once? So why do you trust your vital business statistics to an amateur? You need to loosen the wallet string and hire someone who knows what they are doing. Someone who will look for your best interests and teach you what you need to know. So learn finance – business language.