In every area of your business, for every decision you make, one of the most important factors is the numbers. For those that have taken the leap to participate in our pilot Peer Group Financial Series, you already are ahead of the game. For those of you still waiting, it’s time to jump in! Here’s some reminders of how critical numbers can be in guiding your business growth and why we can’t be intimidated by them.
IMPACT! Global Inspiring Financial Data About Women Businesses like yours!
- 47% of women started a business in the last year compared to 44% of men
- Around 252 million women around the world are entrepreneurs, and another 153 million women operate well-established businesses
- Women represent 50% of entrepreneurs in Latin America and the Caribbean
- Women-owned businesses employ 9.4 million workers and generate revenue of $1.9 trillion
Financial To Do’s
Income Projections: Are you using frameworks to curate your pipeline of opportunities? A measured and realistic strategy for approaching potential and existing clients provides a roadmap to achieving your revenue goals.
Budgeting: Annual & Quarterly and dare I say weekly!! Yes, you should know the state of your finances as often as possible. Remember some of this can be delegated to reduce your load, but it’s extremely important to create a habit around where to effectively place money to achieve solvency.
Expense Audit: Where is your money honey? I confess to having small auto drafts I don’t recall signing up for that need to be removed. Do you have any habits you can reduce? Audit does not mean punishment; it’s just investigating the landscape to optimize your use of your hard earned dollars.
Professional Assistance: No one knows your business better than you! However, you can’t be an expert in everything. Ask around for referrals for a part time or financial services professional. It’s not as complicated as it seems.
Let’s continue the conversation.
What numbers are most important to you when making decisions about your business? Any tips you want to share with the Her Corner community that help when making day to day financial decisions?
You Got This Ladies!