Owning your numbers means that your transactions are entered into your system in real time. It’s not taking a show box and giving it to your outside accountant to update your Quickbooks. 

Why?

Because if you’re not getting anything in real time, you don’t have your basic reports available to you in a timely fashion. There’s no visibility to where you’re performing, because those numbers aren’t timely. You can’t really own your numbers because you can’t see them as frequently as you need to be able to make decisions in your business. 

Remember, the foundational elements of financial intelligence require you to have those big three reports. In order to have those generated from your software, you need to have transactions going in on a daily basis. 

It doesn’t matter whether you have someone do it internally or if you outsource, as long as it’s done in a timely fashion every day to get you the insight you need to take your business forward. Once a week isn’t good enough.

When you own your numbers, your company’s financial status is available to you on demand at any time. You can understand exactly where your business is at any given moment, and have the ability to manage that. 

And remember: garbage in, garbage out. If your transactions are recorded incorrectly, your reports are going to be pretty useless. If that’s something you’re struggling with, call TurboExecs - we help people uplevel their entire accounting function.

Honestly, the bottom line for owning your numbers is about being able to take control of your own destiny. Don’t leave that in somebody else’s hands. Once you give away your power in that way, you’ve given away your ability to impact your numbers. So do yourself a favor within the realm of financial intelligence: take control of your destiny by owning your numbers.

Listen to TurboCharge Your Business on the International Business Growth Network or wherever you get podcasts and gain access to even more great resources at https://turboexecs.com/turbocharge. 

TAGS: finances for business owners, financial intelligence, owning your numbers