Stop Blaming the Bookkeeper

I worked for many years under a GM who was a trained CPA, and we used numbers and budgets and spreadsheets a lot in our daily work.  It was how we understood the way our business was working, behaving, succeeding and struggling.  Our GM always said that by “touching” the numbers you were in touch with your business. 

I know another guy who’s operated his retail business for over 50 years and still to this day writes down the daily sales in key areas so he can keep the pulse on what’s happening with his company.

Now, I’m not saying you should write down your revenues every day, but you certainly should do so every week or month.  You should establish key lagging reports for your business, like revenue and expenses and labor hours. 

More importantly, the numbers you should pay even more attention to are the leading indicators for how well your business will be doing in the future: web traffic, inquiries, conversion rate, referral business, site tours conducted, proposals sent, partner coffees/lunches, and others. 

Set marks for both lagging and leading indicators and check in weekly or monthly on where you and the team are measuring up to expectations.  Even if you’re not a numbers person you need to set goals, inspect how you’re doing, and create opportunities to celebrate or course correct, if necessary.

 

Sam Jacobson