Numbers in business
What are your numbers telling you? Which is most important in your business right NOW?
The “numbers” in your business are the most important resource you have access to.
When you know your numbers and you understand what they are telling you, you can make better decision that lead to better Business Performance. Ultimately your numbers help you make informed rather than subjective or GUT (Given Up Thinking) decisions. If they are so important, why do so many businesses either outsource or even worse ‘not know’ what their numbers are?
If you don’t know your numbers, you don’t know your business
Here are a few numbers that may open your eyes.
Within my ActionCOACH business, we have “the 5 ways” to grow your revenues with 355 strategies to make it all happen, leading to 61% increase in profits and 46% increase in revenue. “The 4 ways” to systemise your business with over 70 tactics and the “6 Steps” to create a Commercial, Profitable Enterprise, That Works so you don’t have to – Oh and there are more than 3500 ways we help you achieve this.
Within my ProfitPlus business, we go deeper into running your business through the information the numbers are telling you, with 581 strategies to improve cashflow, profitability and value multiples. Once you get to grips with the numbers, you can drive performance, increase available cash, demonstrate a stronger & healthier business and be more attractive when gaining financial support or investment to facilitate faster growth.
Download our free business plans and templates to start the process:
Finally, the most important set of numbers: Of the businesses that launch in the UK only 20% will make it to 5 years! Of that surviving 20%, only 20% will make it to 10 years! So of businesses incorporated today in the UK, only 4 out of 100 will make it to 10 years! In 2019 (before Covid) 250,000 businesses were struck off in a growing economy. The effects of Covid will have a long-lasting impact on the economy, so pre Covid casualties may be the tip of the iceberg.
I know we all think that we will not become a statistic! – but without an in-depth understanding of how business works and how to run your business through the numbers, the facts are that you may well become one of the 96 in every 100 businesses that do not last 10 years. I honestly believe that SMEs are the key to the economy recovering – Without you, we haven’t got a chance!
The WHOLE POINT of business coaching is not ‘just’ to coach you but to help you achieve an improved business performance – Yorkshire Powerhouse strongly recommends investing in a skilled business coach who can support and develop your performance to allow your business to grow.
Yorkshire Powerhouse – thinking about business coaching
You’ve read our thoughts on numbers in business – have you any questions?
Here at Yorkshire Powerhouse, we’re happy to help as much as possible – is there anything else we can do to help you, do you have any further questions or can we help introduce you to an expert – please let us know:
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