What I found
interesting the other day, was the importance of knowing your numbers in
another aspect of life - sport! It
provided a perfect analogy to make my point.
My daughter has recently started in the sport of weightlifting and her
"numbers" are critical to set goals, to track her progress, and to
measure herself against others and her own targets. She carries a book in her gym bag in which she
records diligently her numbers of every training session - the number of reps,
the weights used etc. She then sends her
numbers electronically to her coach at the end of every week as an
accountability measure and for him to determine any changes that should be made
to continue to improve her performance.
So let's now apply
this to your business or your financial position:
1. Recording your numbers regularly in your own
"book" - obviously these days there is powerful cloud accounting
software (like Xero) that make this process so easy and enables you to do this
everyday! It will even allow you to
compare your results instantly to targets/goals you have set for yourself (via
your budget).
2. Having an accountant or business adviser,
your own "coach", to help monitor your progress and suggest areas of
improvement. Your accountant can measure
your performance against that of others in your industry (benchmarking) and
your previous results or key performance indicators (KPI's) to keep you
focussed and on track.
So if it seems so
obvious to do this for success in sport, why wouldn't you apply the same
concepts to ensure success in business?
Do you know your numbers? Do you
have a business advisor (coach) to improve your performance and keep you
accountable?
At Sothertons
Gladstone we are passionate about numbers and business; call us on 4972 1300
today to arrange your first "training session" with us!
No comments:
Post a Comment