An Extraordinary Connection with Your Business’ FinancesJuly 1, 2010
I love financial tools! Excel, Quickbooks and Microsoft Money are just fun. Today’s software lets me fly creatively when I’m trying to help a client understand how their business is doing, what’s working, and what’s not.
But as with most things there is a flip side to the amazing software we have at our fingertips. Quickbooks, meant to bring simplicity to accounting, easily becomes a behemoth, spitting out 3 page reports that no one could understand or connect with. And that is the point, the goal, of accounting: to connect with your finances. It’s not all about filing your tax return at the end of the year. It’s about understanding your business and the financial impact of your decisions and activities. Your numbers should tell you a story, a story that you feel connected to.
My first experience with accounting was at 19, bookkeeping for my family’s business, the The Buz Buszek Fly Shop. I used ledger paper. I don’t feel old enough to be saying that, but I guess I am. Today, one of my tenets for those who are having a difficult time connecting with their finances is to pull out the old ledger paper.
I’m not suggesting you literally do your accounting on ledger paper. What I do mean, though, is to get a pencil out, and a calculator, and a piece of paper. Write down, every single month, the 8 to 12 numbers that are really important to you. Not the 50 or 100 numbers that Quickbooks is telling you. Just the 8 to 12 numbers that help you feel connected to your business.
If you’d like to learn more about having an extraordinary connections with your finances, I’m being interviewed by Marcia Brixey on July 6th at 11:30am as a part of her Money Wise Women Get Smart Teleseminar Series. You can participate by signing up at:
You’ll also find a lot of great past teleseminars you can listen to. A personal favorite of mine is Mikelann Valterra’s interview “Earn at Your Potential: Embracing the Seven Challenges.”