The Know Your Numbers Tools
Can I ask you a question?
Do you know how much your business made last year, total revenue?
I'm guessing you probably know this number since most online business people love to talk about revenue and six figure businesses. But can you answer these questions?
Can you tell me how much your business made in profit last year?
Can you tell me how much you paid yourself last year?
(This is usually where I just hear crickets.)
The whole reason we get into business is to make money. Making money is the difference between a business and a hobby. Yet so many business owners have no idea if they are making money. They aren't sure where it actually all goes. They are worried about paying bills and so many times they end up working around the clock for free. This drives me crazy!! Here at the Reynolds OBM Agency (ROA), we help small businesses get their operations buttoned up and focusing on the numbers. Knowing your numbers is the key to making great business decisions. Can I afford that piece of equipment? Is this the right time to hire a new person? Can this business run without me while I actually go on vacation?
I have put together a few tools that can get you on the right path to knowing your numbers now, knowing your numbers for the future and being able to make decisions based on that info.
We use this tool every day at ROA! Here you will create yearly goals, break them into quarterly goals and then into monthly goals. Every time you get paid, you add it to the sheet to see where that puts you in relation to your goals. You will know in real time what's going on, and if you are short, what you need to do to hit your goals. This tool helps me to consistantly hit my goals every month!
You will receive both a version for monthly billing as well as a bimonthly billing breakout.
While the Goal Tracker is all about the actual money you have been paid, the Cash Forecast is where you can plan for the future. You can enter the income and expense you think you will have to make sure you will have everything covered. This will show you where your cash flows in and out of you business.
Can you afford to buy that new course you have been looking at? How will hiring that contractor affect your own profit and paycheck? The Business Decision tool lets you enter your goals and your expeneses and then shows you how all of those decisions play out.
Like, if I buy the course, my paycheck may be lower BUT if it helps me hit the big, crazy goal then I may end up making way more!
Each tool gives you:
a video with Kelly explaining exactly how to use everything
a sheet with instructions to refer back to
all the formulas and calculations done for you so you don't have to math
and of course clarity on where you are and where you are going in your business!!!