Your Monthly Financial Review
As I’m writing this I can’t believe we are half-way through the month already!
I’m just finishing up my Monthly Reporting clients and we’ve been discussing how last month went.
It’s a process we go through every month. Sitting down and discussing what worked and what didn’t work. What are the figures telling us, what is the financial story of the business.
It reminds me of when I go to the doctor and explain my symptoms. She says, how do you feel, what has been happening and may suggest a blood test. The blood test results don’t tell the story of every piece of my health but they give a pretty good indication of what is happening.
One of the most popular responses as to why business owners do not start up their own version of a Monthly Review in their business, is because of a story that they don’t want to see what the figures are going to say. They hold judgement towards themselves for the financial ‘success’ of their business.
If you feel like you also fit into this category, then I want you to start thinking of your Monthly Review like a blood test for your business.
It is no longer a reflection of your own worth, intelligence or success. It is merely a method to see what is happening.
And if you find yourself beginning to piece together the income for the month and compare it to the expenses for the month and your self-talk becomes judgemental, negative or your start to feel shame around the figures you are seeing. I want you to reflect back on this article, and think to yourself, if this were a blood test would I be putting myself through the ringer because my iron is low? Or if I have an elevated white blood cell count? No!
The judgement, shame, guilt or feeling of overwhelm need to be left at the door. And I’m giving you permission to do so.
If you’ve experienced other reasons for not pulling together your business figures monthly, I’d love to hear them.
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I know business owners don't have a lot of time for scrolling. So I share my in-depth research + experiences, new business finances practices, upcoming availability of 1:1 work, group catch ups and monthly client openings first with this community via email.