I recently attended a leadership luncheon for women entrepreneurs. It was great to see so many female entrepreneurs from all different types of backgrounds and talents.
The question was posed: “Why is that so many female entrepreneurs make less money than male entrepreneurs and their businesses fail faster?” Many hands raised with various answers. The majority of people landed with the belief that often women don’t support each others businesses enough. Really?? That’s why we are not succeeding at the same rates?
I completely disagreed with this being the reason why we are not succeeding in our businesses.
From my experience with clients and others that I encounter, many people don’t understand the numbers for their business. Often, women come up with a great idea or a beautiful dream, with lots of great talent. However, they have NOT done the numbers to make sure it is a profitable business. Many times, we don’t know our bottom line numbers, our profit margins, our items per transaction, our customer acquisition rate, or revenue percentages.
It is so important for business owners to understand the numbers of their business.
BUSINESS IS A NUMBERS GAME.
Do you know your numbers?
As we go into 2019, let that be your goal. Let’s know our number and how that can translate into profit for our companies.
Stay tuned for seminar on January on how to learn your business numbers!
In the meantime, keep connecting those dots!