Knowing whether a business is busy is different from knowing whether it is performing well. The video “Know Your Numbers – The Talk Every Business Owner Needs”, featuring Andy Scott-Barrett, is available as part of the learning material shared here.
Guest speaker: Andy Scott-Barrett. Cofi Business Network is hosted by Rob Steadman.
Watch the Cofi teaching video on YouTube
Prepare questions about your own business
Before watching, write down the figures you understand and the ones you struggle to interpret. Useful questions might concern money coming in and going out, the cost of delivering work or how long customers take to pay. This article is a general preparation exercise, rather than a transcript or a statement of the speaker’s specific recommendations. Choose measures connected to decisions you actually need to make. A weekly view of outstanding invoices may be useful for following up payments; an understanding of delivery costs may help you review an offer. If figures raise a specialist accounting question, ask an appropriately qualified adviser. Bring practical learning questions to the network as well.
Three actions to try
- Identify one figure you currently do not understand.
- Write the business decision that depends on it.
- Watch the talk and note questions to follow up.
Questions and answers
Does knowing the numbers mean tracking everything?
No. Begin with information that supports a real decision, keep records consistent and seek help when specialist interpretation is needed.
Where can I ask questions and find more free help?
Cofi Business Network is 100% free. You can meet other business owners, share experience and explore practical ideas. Join whether you are starting out or already running an established business.
Join the free Cofi Business Network
Join the Cofi WhatsApp group to connect with the network and receive updates. Read about Cofi Business Network and explore our free small business resources. For meeting information, email info@digitalsolutions.help.