TRUST YOUR NUMBERS BLOG

As business owners, we are constantly told to "Know your numbers" and "Track your numbers". And true, there is no shortage of numbers you could be tracking in your business. Revenue. Profit. Expenses. Cash flow. Accounts receivable. Profit margin. Average sale. Revenue per client. And depending on the type of business you own, probably dozens more.

There is probably a number in your business you would rather not look at. Maybe it is your current bank balance, your revenue for the month, your outstanding invoices, your expenses, or the amount you are actually paying yourself. Maybe you already know the number is there, but you keep putting off looking at it because you are afraid of what you might find. You tell yourself, “I’ll look at it later.”

Confused about the difference between revenue, profit, and owner pay? Many solopreneurs use these terms interchangeably, but they impact your cash flow and financial decisions in very different ways. Learn how to read your Profit and Loss report and understand what these numbers really mean for your business growth and personal income.

As September winds down, it’s hard to believe there are really only three months left until year-end. As we move into the 4th quarter, this is the perfect time to pause, reflect, and set yourself up for a smoother tax season. The truth is that tax time doesn’t have to include long nights with spreadsheets or reconciling months and months of bank statements. With a few simple habits, practiced consistently, you can make year-end easier and keep your financial picture clear a

Think payment apps are the easiest way to get paid? Discover why payment apps might be hurting your business and explore better, professional payment solutions.