Thursday, September 16, 2010

Read the Story & Take Action

Ever sat down and read inspirational material? Any self-help or motivational business books from industry gurus and ultra-successful President's, CEO's and Sales People? Of course you have; We all have at one point or another. The real question is what did you do with the information. Most of you probably took some sort of action with specific recommendations from the books or videos, which is great. So, have you ever read the story of your business?
How often do you re-read that story? "What story?", you may ask or "Why would I read something more than once?". Your business has a story and it tells it to you (some of yours are screaming at a very high pitch) every single day. It adds a new chapter every single day. Are you reading it or listening? Do you see it, understand it and hear the heartbeat?   **Hint: It's the number$.

The numbers of your business are a very telling story and right now is the time to start reading, analyzing, understanding them and then taking action on what you learn. I could quote a hundred cliche's on seizing the moment to drive the point home, but I don't think I need to. I believe deep down many of you reading this already know this is something you need to do. So, why don't you? There are many reasons I hear including fear of admitting you understand it, not enough time, if sales are good it doesn't matter and, my favorite, I'm just not a numbers person.

The nagging question in your mind now is maybe, "What are the numbers going to really tell me and what actions will they lead me to take?". I'm glad you asked.

Owner to Business $:
"Do we have enough cash to cover our debts consistently? If no, why not?"
"Are we utilizing sales dollars or debt to fund our jobs?"
"Is the business meeting my Gross Profit & Net Profit goals?"
"Do we have a good position to buy new assets or get some new credit?"
"Do we have enough work in process to meet our sales goals for the next 2 years?"

Business $ to Owner: "I know all of these answers if you're willing to spend some time with me."

I simply encourage you to make the time and take some action in this area. It will help you look at the past, present and most importantly, plan for the future of the business. Once you learn how to do this and master it, you can then start to "Benchmark".

Stay tuned for the next Number$.

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