I recently stumbled across Gene Mark’s article on The Huffington Post entitled, “Quick: What’s 15 Percent of $129?”
In this article Gene explains that successful business owners are usually good with numbers. There are certain key indicators, that Gene suggest, business owners need to have top of mind at all times. Either that, or the ability to calculate these numbers Quickly.
At the end of the article Gene goes on to suggest that if you don’t have the head for numbers, you’ll be at a disadvantage. What this means is you’ll have to have people around you, whom you can trust to keep you on top of your game. Maybe like a CFO?
In my 2013 interview with Gary Vaynerchuk I asked him about managing his business from the numbers, and he discussed how he has people whom he relies on for these things. In his Gary’s case, it’s so he can stay focused on “The Hustle.”
I’d like to propose another way.
Use technology. Use the tools that are available.
Use QuickBooks Online’s automated reports to send you the high level information you need.
Then create a template in say Google Sheets, where you can calculate the important numbers you need, so you don’t need to keep them in your head.
You can have your CFO help you with this, or hire me!
Have someone prepare this for you each week, and get it Starred in Google Drive so you can access it on your mobile device, and from anywhere in a click. Maybe two clicks.
Use Finagraph to help you calculate, and better understand these numbers and why they’re important. The timing is good here, because I am presently rolling out a course on How to Evaluate a Company – Analytics and Business Valuation
Let’s see how to set this up. In the video above I’ll show you how you can create and schedule the memorized reports in QuickBooks Online.
Then I’ll show you how to get it into Google Drive in less than 30 seconds.
Then I’ll show you how to calculate some important numbers.
Then I’ll show you how to “Star” it in Google Drive.
Then I’ll show you how you can access it in 5 seconds from your mobile device.
Are you ready? Click play on the video above.
Bang that comments box and write me something. I LOVE getting your comments, and responding to them.