“Fundamentally, business is a numbers game. At the end of the day, you don’t keep score any other way.” Brice Gump
The numbers that make your business move may be the most important thing to understand in your business today. This doesn’t have to be complicated or intimidating, but it is something business owners must understand.
When Brice & Mike started their businesses, neither of them was fond of numbers or even particularly good with them.
If spreadsheets intimidate you, you can always use some other means to get the kind of information you need. Brice uses Google Sheets which he updates manually. Mike uses Quickbooks which can make up all kinds of reports.
Some of the clients that both Brice & Mike have worked with launched massive campaigns. Halfway through, they realized that there was no money left to pay off their credit card!
Guess why? They weren’t keeping track of their numbers.
When going into a business and looking for ways to improve it, you can start with finances and see where everything is going and where to make changes. This can be true of personal finance, of your business, of media buying, and of so many other aspects of online business.
Lots of great content in this episode! Check out the show notes below to follow along.
- The importance of knowing numbers when it comes to your business (0:47)
- Being okay with small financial awareness to start, but committing yourself to growth (2:49)
- Overcoming the intimidation of spreadsheets and number analysis (6:06)
- Starting your own business is a great way to force yourself to learn numbers (9:22)
- Mike’s strategy for managing finances with Quickbooks (12:17)
- Brice’s strategy for managing finances by manually copying and pasting bank account numbers (13:40)
PEOPLE / RESOURCES MENTIONED
- 5 Numbers You Need to Know to Run a Successful Business
- Profit First
- Keith Cunningham – The Ultimate Blueprint for An Insanely Successful Business
LET’S CONNECT ONLINE!
- Join The Building It Online Community
- Brice Gump — Major Impact Media | Connect with Brice on Facebook
- Mike Sebastian — Outside ROI | Connect with Mike on Facebook
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