Momentum Podcast: 814
How Knowing Your Numbers Changes You
by Alex Charfen
If you've been an entrepreneur for any period of time, you've probably heard things like, you need to know your numbers and you can't manage what you don't measure, and you need to understand your financials and you need to know what your company is doing.
And in my experience, I would say probably 40 to 60% of the people who come to us don't really understand their numbers. And when I talk to entrepreneurs, it's not because they don't want to. It's not because they don't think they're important. It's because they don't really understand what knowing their numbers will do for them. I'd like to share some perspective in this episode.
We've all heard, “you have to know your numbers,” Yet 40 to 60% of the entrepreneurs who come to us don't. I ran a business in my twenties where I did not know my numbers for the first 5 out of 10 years.
I am aware that part of the reason I did not put in the time to understand them was that I didn't have a perspective about why they were important.
I felt like I could figure out most things in my head, and putting the time into truly understanding my numbers wasn't necessary. In this podcast, I share the perspective I've learned through coaching hundreds of companies and running my own. Knowing your numbers changes you as an entrepreneur in ways that aren't clear until you know your numbers.
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