Confronting the Facts of your Financials

Do you want to take stronger control over your business’ future?

If so, you will have to confront the facts within your financials.

But before you do that, we need to discuss how honesty and accountability can give you the right mindset to confront these brutal facts.

Honesty and Accountability

If you are planning a road trip, you should bring a map along so you can figure out the best way to get to your destination. But what use will the map be if you do not know where you are starting?

This is where honesty and accountability come in to play.

A lot of entrepreneurs do not like taking a deep look into their financials because it can be pretty black and white. It provides honesty about where you are, and it will hold you accountable when you try to get where you need to go.

So in order to have the right mindset, you will have to love honesty and accountability before you confront the brutal facts of where your business’ finances may be.

“You must never confuse faith that you will prevail in the end – which you can never afford to lose – with the discipline to confront the most brutal facts of your current reality, whatever they might be” – Good to Great by Jim Collins

The Brutal Facts of your Financials

The truth is, without data, your view of reality will be skewed.

You have to want to reach your goal bad enough that you will confront the reality of your current situation.

Remove emotions from your numbers and accept them as feedback. Because even if you are not on target, you will still want to see your metrics so you can create a detailed plan to reach your goal.

The best way to face the brutal facts is by implementing the SURF strategy.

surf

Survey: Get crystal clear on your current reality and the gap between where you are now, and where you want to be.

Understand: Determine the key factors that led to this reality. It’s not good or bad, it’s just the reality. What is the context of the reality?

Respond: The biggest misconception about financials is that it’s somehow separate from taking action. Once you get feedback, you need to act NOW to move forward.

Focus: As you continue to understand where you are vs where you want to be, you can simplify your vision and focus your effort on the things that really matter.

Before you can DRIVE forward, you have to know where you are. What’s the current situation? What is the gap between where you are vs where you want to be?

The brutal facts may be, well… brutal. But if you want to finally reach your goal, there is no better place to start!

Interested in learning more about how to connect your goals and vision with your financial metrics? Schedule a strategy call with Kahuna Accounting and we can discuss best practices for driving cash flow, profit, and growth!

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