This article was originally posted as “Dr. Webb’s Desk” on June 24th’s FPC Newsletter.
Try to go way, way back to the days you were free of so many responsibilities. Sure, you had get through school, pay your personal monthly bills and make sure you had enough left in the bank to cover necessities until the next pay-check came rolling in. But overall, life wasn’t too stressful, especially if you were still living at home during the years of your post-graduate training. When it came to understanding your finances, it was pretty much limited to opening up the checkbook and checking the balance.
Unfortunately, this child like mentality of governing your finances doesn’t work out so well in the “big boy” world. Running a business requires much more than simply checking your monthly statements of credits and debits; that is if your plans include that very business to thrive.
Savvy entrepreneurs are constantly reviewing their numbers and using this critical information in their decision-making. They understand that these very statistics reveal to them what’s working and what’s not. In fact, they would be completely lost without them and vulnerable to serious trouble…financial trouble.
Your FPC directors and coaches use your statistics to identify present and future challenges. Please don’t expect them to fully do their job if they are missing critical numbers. In essence, you’re asking them to guess what the challenges are or simply take your word for it. Although your word and your thoughts are truth to you, the actual numbers may reveal a completely different reality.
Let us help you! It’s time to run your business like a champion and take responsibility as a leader to know your weekly and monthly stats, all of them. Make sure these are being put into the portal every week and at the end of every month. To make things easier, please assign one of your team members this task and hold them to it.
Are we good? Great!