Getting Honest About Your Business Money
In my years of working in the online business space and with various business owners, if there’s anything I’ve learned about business money, it’s that the numbers don’t mean shit if you’re not honest about them.
One of my biggest pet peeves is when business owners share their numbers without knowing what they actually mean. Not only does this feel inauthentic and a bit dishonest, but it can also put you in a dangerous spot in your business if you don’t understand your numbers and where you’re really at with your business money. Read on for a real and honest conversation about business money!
An Honest Conversation About Business Money
I know for some business owners, talking about money feels a little uncomfortable. However, it’s so important to understand where you’re at financially in order to continue to grow your business and succeed.
I’m all for sharing your business's financial successes and money wins, because you worked hard to get where you are, and that shouldn’t go unnoticed. If you are killing it in business, shout that shit from the rooftops!
For me, talking about money becomes a problem when people share their numbers without knowing what those numbers actually mean. If you’re going to talk about your business money, you need to be authentic, honest, and transparent, otherwise, people aren’t going to trust you!
For example, there’s a big difference between:
New monthly sales vs. Recurring monthly income.
Gross income vs. Net income.
What your business earns vs. What you pay yourself (probably not enough, by the way).
Getting to Know Your Numbers
If you're going to use these money milestones to motivate your audience to buy from you, you HAVE to know your business numbers inside and out. You have to understand where they come from, what they mean, and what helps you achieve them in your business.
If you had a $100k launch but you spent $10k on support and $30k on marketing, then is it really honest to share with the world that you had a $100k launch? In my opinion… NO!
I believe in being transparent, leading with integrity, and sharing EXACTLY what goes into achieving your money wins. Plus, I believe in celebrating the support of your team and the impact of your marketing efforts, because you couldn’t have done it without those elements.
As another example, maybe you had an $80k month followed by a $20k month. That's okay and that happens in business. If you know your numbers and understand why this happened, this could be a sign that you need to implement support, systems, or processes somewhere in your business to start hitting those $80k months consistently!
Become familiar with your numbers and let them show you where you can improve.
If you’re ready to get honest about your business money and implement the systems, processes, and support you need to achieve your financial goals so you can do more good in the world with the money you make, check out The POWER Package to see how I can support you in getting your systems automated, processes optimized, and support in place so you and your team can flourish!