06 - What Does Money Mean to You?
Money means different things to different people. It can mean accomplishment, freedom, happiness, or growth. It can also mean burden, struggle, stress and stagnation.
There is strong symbolism around money, so it is important to keep things in perspective. As author Ayn Rand famously said: “Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver.”
As business owners, it is our job to worry about money, in the most positive sense. Our responsibility is to:
- Understand our financial position
- Ensure we are monitoring money in and money out, pricing and timing
- Determine the cash cycle of our company
- Run consistent profits
- Develop and implement growth strategies
- There are many aspects that factor into understanding your financial position:
- Understanding accounting jargon
- Translating the jargon into concepts that apply to business management
- Pristine bookkeeping
- Analyzing financial reports
- Assessing aspects such as net income, cash flow, and debt service
- Guidance from a business advisor who focuses on small businesses
Even if numbers ‘aren’t your thing’ you can get a handle on your financial position. Once you do, you can focus on bringing in ideal clients, improving your profits and creating a greater impact in your community.
The Block Group advocates for women-owned businesses, helping them position their companies for strategic growth.
Charting the course for impactful, sustainable, profitable businesses, the beacon is control: of your strategic direction, your money, your time, your staffing, and your ability to bring in business.
Applying this holistic approach to business, The Block Group guides organizations through the business cycle, revitalizing management and promoting growth. We bring together the people, resources and ideas that build results.
All the best!
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