The Importance of Knowing Your Numbers in Your Business & Bookkeeping the RIGHT WAYSep 20, 2021
In this episode of Profits + Prosecco Podcast, I am joined by Nikki Arensman to talk all about her business and the growth she received after working together. Nikki is a Brand Designer and Business Strategist for Female Entrepreneurs, Founder of The Business of Branding Podcast and a Mama & Wife. Stay tuned to hear all about the importance of knowing your numbers and growing your business.
But before we dive right in, welcome to the Profits + Prosecco Podcast! I’m your host, Katie Ferro, CPA, reformed rule follower, creator of Booked Out Bookkeeper, mom to 3 little ones, and Kajabi enthusiast.
This podcast is for entrepreneurs who desire to change their life through their profitable business, and for bookkeepers and accountants who want to escape the 9-5 and start a simple scalable bookkeeping business like I did.
Bookkeeping increases profits and profits change lives. So pop some bubbles and let me show you how!
In this episode, you'll learn all about my program Booked Out Bookkeeper from an active member herself. For even more juicy details, listen to ALL of episode 45 of the Profits + Prosecco Podcast on your fave streaming platform.
Paying attention to your numbers in business.
Nikki comes from a very creative background so dealing with numbers was never her forte. In every aspect of her business, she hands off her numbers because it's not something that needs to be taking up 80% of her time, especially because it's not in her zone of genius.
If your numbers are not done right, it's a mess, and then trying to fix it later is super hard. When you're making money, it's obviously hard to pass it on to someone else but getting that support and understanding what's going on in the backburner of things is key to your business.
When you understand your money, you make more money and it's that simple. No matter what you're spending on bookkeeping, there is so much security and comfort behind it that's going to help you earn way more.
When Nikki started getting her monthly reports, she felt really good about her numbers and it was also very eye-opening. Sometimes you think things are a lot worse than they actually are but when you get a clear look at everything, that's not always the case.
Moving your money with intention.
If you have goals like paying down a house, getting out of debt, saving for college, and you don’t have a place for your money, then you have a problem. If you can be intentional with your money, there is so much more financial freedom in your life.
As you make more and more money, things add up not just because there are more dollars but because you're going to get kicked into a higher bracket. Things change when you reach different income levels and life gets more expensive the more money you make.
When your spending turns into personal spending, you have to be really mindful of where you're setting aside that money. Just because you have it doesn't necessarily mean it should be touched.
Scaling your business above & beyond.
The infrastructure of Nikki’s business grew as her income was growing because she started so many other things inside her business like advertising and customer service. So many other things had to be built to support the growth and expenses.
Your business is a constantly changing dynamic so the way you're running it now, it's going to be completely different in a year. Having a bookkeeper there to support you is going to give you the structure you need to keep growing and stay on track.
When you know your numbers in business, you're able to create more income for yourself and change your personal life. Nikki is still working through her money situation and constantly needs the financial support of someone looking at her numbers and making data-driven decisions. This has all truly fast-tracked her growth!
The Importance of Knowing Your Numbers in Your Business & Bookkeeping the RIGHT WAY: The Bottomline
I hope this episode helps you see the importance of your numbers behind your business and why bookkeeping can support that. In order to have a successful business and brand, you have to be aware of every aspect of your business!
If you enjoyed the episode, please take a second to rate and review. Each review helps us reach and inspire more entrepreneurs and bookkeepers just like you.
Don’t forget to take a screenshot, share it in your Instagram stories, and tag me at @orderlyaccountingbykatie. Cheers to your inevitable success and I’ll see you in the next episode!
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