Understanding your numbers is a crucial aspect of running a successful business. It is important to have a clear understanding of your financials, such as your income, expenses, and profits, in order to make informed decisions and grow your business.

An important aspect of understanding your numbers is knowing your cash flow. This is the money coming in and going out of your business on a regular basis. A positive cash flow means that you have more money coming in than going out, which is essential for keeping your business running.

Regularly reviewing your income statement, cash flow, balance sheet, and KPIs, you can gain a clear understanding of your financials, make informed decisions, and grow your business.

LISTEN TO THE FULL EPISODE HERE.

In this Episode:

• Problem gym owners or small business owners face
• How to fix these problems
• Things that help small business owners stay consistent
• Biggest thing that’s keeping business owners from knowing what their numbers are.

Important Quotes:

“The biggest things we do is give a clear cut way to create procedures for the staff to do each day.”

“When you start to understand your numbers, it gives you the opportunity to do so much more. If you have a good profit-loss statement, you’ll know where things are at.”

“The more you know the numbers, the better you understand the pulse of the business.”

Enjoyed our latest episode? Feel free to explore more stories by visiting my website!