Fear and Money

When it comes to accounting there are many schools of thought about why and if you even need to keep track of your inflows and outflows. Many business owners feel that their income is not where they want it to be and as such they do not need accounting. It is an unnecessary expense until they reach level __________.

The level is different for everyone and is based on their comfort level with managing cash flow. We have seen it mainly for companies under 6 figures and we have seen it in 7 figure companies. The truth is, the reason they don’t want to track their money in any kind of accounting system is because of fear.  

Money is a highly emotional topic. Especially in the USA where one's sense of accomplishment and or self-worth can be tied to one’s income. Money is just a tool, end of story. It has no meaning or value except that which we put on it. 

In business, money is the lifeblood of the business. It is what flows, in and out, as a record of what is happening in the business. The story of the inflow and outflow of money, which can be told from accounting, is what empowers a business owner to make sound decisions rather than flying by the seat of their pants.

It’s the fear of the story that prevents many business owners from starting accounting when they begin the business. The truth is the story is just that, a picture of a moment in time of what is happening. 

Knowing this picture, the business owner is empowered to ask 3 very powerful questions:

What is working?

What is not?

What is next?

While intuition and one’s gut and passion are also critical in decision-making, so is the story your numbers are telling you.  

Ready for numbers? Give us a call. We are here to help so you can keep more of your money in your pocket!