By Michelle Loretta, Sage Wedding Pros
When you think about doing your business accounting do you:
- Sweat profusely.
- Swear profusely.
- Cry profusely.
- All of the above.
If you fall into any of the above, I know you. I see your struggles and I want to tell you this…
You need to find peace with your accounting.
Let’s shift the focus a bit. What if – instead of HATING accounting – you actually loved it? (Is that even possible?)
Here are reasons why you need to find love for the numbers of your business:
1. You don’t need to be an expert in accounting.
Part of the intimidation with accounting is the overwhelming thought of needing to know ALL THE THINGS. You don’t need a degree in accounting. (You have enough to do.) STOP trying to achieve perfection in this area.
You DO, however, need to understand how your numbers work. You need to have basic accounting knowledge so that you can be proactive about the financial decisions in your business.
2. Knowing your numbers helps you sell better.
There is something magical that happens when I watch a wedding professional begin to learn how accounting works… they SELL better. This business owner doesn’t cave when facing price pushback. They better understand why things are priced how they are – and they are better at explaining and educating potential clients.
There is a HUGE confidence that comes with understanding how cash flows in and out of your business. When you know what your dollars are doing, you’re not afraid to ask for the sale.
3. It’s NOT about the bookkeeping. It’s about measuring financial metrics!
Newsflash: bookkeeping is BORING. The benefit of bookkeeping doesn’t come from the tedious task of putting your expenses and sales into a spreadsheet or Quickbooks.
“Data entry is so fun!” – said no one ever.
You do the data entry (the bookkeeping) to get ALL the FINANCIAL INFORMATION (eg: metrics). It’s this information – aka financial reports – that tell you how your business is doing. This is the only REAL way to measure whether your business is barely surviving or truly thriving.
Numbers don’t lie.
What do you think? Starting to love accounting just a tad more?
Join the finance love fest with me! Download the Sage Wedding Pros Monthly Accounting Checklist for easy-peasy ways to get your dollars in order.