Running a business can feel like we voluntarily got on the crazy train and never got off. Discussing finances feels too practical. Too normal. Too boring. But then we also avoid it because we feel incompetent and we want to avoid ever looking stupid.
You might be thinking, “I’ll tackle my books later,” or “I’ll deal with it once the next quarter’s over.” But that mindset could be doing more harm than you realize. Here’s how avoiding your finances is hurting your business, and why it’s time to stop ignoring those numbers.
The Emotional Burden of Ignoring Your Books
Have you ever lain awake at night, wondering if you’re on track to hit your sales goals or if you can pay your employees next week? The stress of financial uncertainty can be downright crippling, and it’s a common issue for many business owners. It bleeds into every aspect of our lives because being broke or not being able to cover payroll is a sign of failure. And as business owners, the highest achievers of all? We hate failure.
The reality? Your finances don’t have to be a mystery. Your cash flow doesn’t have to stress you out. When you avoid your bookkeeping, you’re essentially walking around in the dark. But when you get a handle on it, you’ll be able to see the weekly trends of your business and prepare your cash flow accordingly.
Confidence Through Clarity
Clarity is key when it comes to your business. By keeping your books up to date, you’re not just crossing off tasks on a to-do list. You’re creating an actionable, real-time financial picture of where your business stands. You’ll know exactly what’s coming in, what’s going out, and where the gaps are.
Financial clarity feels good. And when you feel good, more opportunities seem to come your way. That dream client shows up. Your products are flying off the shelves. The new hire you wanted but couldn’t afford – you can now afford! When you are drowning or avoiding your bookkeeping, it causes you to unintentionally close the door to so many other things. Avoiding one thing means you’re blocking the way for more.
Accountability and the Power of Numbers
Numbers don’t lie. They tell a story and oftentimes, we don’t like that story! And when you start paying attention to them, you’ll quickly realize that the accountability your finances provide actually gives you MORE creativity, not less.. Avoiding them means you’re leaving your business’s success to chance. But when you’re armed with up-to-date financial data, you can stay on track, plan for the future, and set realistic goals.
Think of it as a GPS for your business. You wouldn’t head out on a road trip from California to the Grand Canyon without a map, right? The same thing applies to your business when you are building it from $0 to $1,00,000!
The Cost of Procrastination
Sure, it seems harmless to procrastinate and put your numbers on the backburner. You might even trick yourself into believing that you’re saving time, especially when you’re juggling a million other tasks and putting out daily fires in your business…But every time you push your bookkeeping off, you are choosing to create more pain for yourself .
You’ll have missed opportunities because you can’t afford to invest in them, sleepless nights where you secretly beat yourself up for not being able to pay yourself, or worst case scenario, you have to close your business altogether.
Take Control and Watch Your Business Thrive
It’s time to stop letting your finances be pushed back and ignored. By taking charge of your numbers, you’re setting your business up for success. And here’s the kicker, it can be easier than you think! By using the right systems (like The STOP Method™), you’ll feel competent and empowered.
Ready to put your finances first? At My CFO, we help you set up a financial strategy that works for you. Whether you’re ready to delegate entirely or just need a little help getting started, we’ve got you covered.
Because at the end of the day, profit isn’t luck, it’s strategy.
