Financial Intelligence: Stop Running from Your Numbers

Written By Sandy Connery

Let's talk about something that makes many entrepreneurs break out in a cold sweat: looking at their business numbers. You know what we mean - those spreadsheets that hold the truth about your revenue, expenses, and profit margins—the ones you might be avoiding, like that mountain of laundry in your bedroom.

Here's the thing: Your relationship with your numbers isn't just about bookkeeping - it's about taking control of your financial future. And we’re here to tell you why it's time to stop hiding and start embracing your role as the CEO of your finances.

The Princess Syndrome: Why We Avoid Our Numbers

Let's be real for a minute. There's this tendency, especially among women entrepreneurs, to play the "someone save me" card when it comes to finances. We tell ourselves stories like:

  • "I'm not good with numbers"

  • "Spreadsheets terrify me"

  • "Looking at the numbers takes me out of my creative flow"

  • "My partner/accountant handles all that stuff"

Sound familiar? We get it. We've been there. But here's the uncomfortable truth: you'll never achieve true success if you're running your business with your head buried in the sand.

Numbers Are Neutral - Your Stories Aren't

Here's a mindset shift that changed everything for us: Numbers are 100% neutral. Whether your monthly revenue is $500 or $100,000, that's simply a fact. It's not a judgment on your worth, your talent, or your potential. It's just data.

But oh boy, does our mind love to spin stories around these numbers:

  • "I'm not good enough"

  • "Nobody wants what I'm offering"

  • "I'll never make it in this business"

  • "Everyone else is doing better than me"

The problem isn't the numbers - it's the narrative we create around them. When you feel shame about your numbers, you're likely to avoid looking at them altogether. And that's exactly where growth goes to die.

The Path to Financial Independence Starts with Facing Reality

Let's talk about what's possible when you start embracing your numbers. We're not just talking about financial security (though having enough buffer to weather life's storms is crucial). We're talking about financial independence - the ability to support yourself and your dreams without relying on anyone else.

And yes, this is possible even if:

  • You're running your business part-time

  • You have kids

  • You're starting from zero

  • You've avoided your numbers for years


Practical Steps to Take Control of Your Numbers

1. Separate Personal and Business Finances

This isn't just about organization - it's about protection. In the US, form an LLC and get an EIN (Employer Identification Number) from the IRS. In Canada, create a holding company. Then, open a separate business bank account. This creates a legal shield between your personal assets and your business.

Pro tip: Never co-mingle personal and business funds. In legal terms, this "pierces the corporate veil" and could leave your personal assets vulnerable.

2. Track Every Transaction

You need to record everything that comes in and goes out of your business. We'll talk about specific tools in a moment, but the important thing is to start somewhere. Every dollar should be accounted for.

3. Partner with an Accountant

Here's something we wish someone had told us earlier: Your accountant should be your business partner, not just someone who files your taxes once a year. Find someone who:

  • Makes you feel comfortable asking "dumb" questions

  • Helps you plan for the future

  • Reviews your numbers quarterly

  • Explains things in terms you understand

Pro tip: Record your meetings with your accountant (with their permission) and take detailed notes. You'll thank yourself later.

Celebrating Every Win

One practice that transformed our business was celebrating every single sale. Whether it's a $27 digital product or a $5,000 coaching package, each sale gets acknowledged. This isn't just about feeling good - it's about building momentum and maintaining perspective.

It's easy to get discouraged when you're just starting because you're not hitting the big numbers you dream about. But remember: You can't get to 100 sales without first getting to 10. Each sale is proof that:

  • Your business model works

  • People value what you offer

  • You're building momentum

Making Data-Driven Decisions

Here's a reality check: Your business goals are basically educated guesses until you have at least a year of data. That's okay! Everyone starts somewhere. But real business growth comes from understanding your patterns:

  • Compare this November to last November, not to last month

  • Look for seasonal trends

  • Track multiple metrics (not just revenue)

  • Use data to make projections

Tools of the Trade

Let's talk about some practical tools that can make this journey easier:

  • Stripe's mobile app for real-time sales notifications (nothing beats the dopamine hit of a sale notification!)

  • Accounting software (Quickbooks or Freshbooks are great options)

  • Spreadsheets for tracking metrics beyond just finances

The Road to Financial Freedom

Whether your goal is building a cushion for emergencies or achieving complete financial independence, it all starts with facing your numbers head-on. The beauty of passive income businesses is that money can come in while you're playing with your kids or sleeping - but you need to understand your numbers to build that reality.

Remember: Your numbers are just data points on your journey. They're not a reflection of your worth, but they are indicators of what's working and what needs attention. The sooner you embrace them, the sooner you can use them to build the business and life you dream about.

Start small. Look at one number today. Celebrate one sale. Ask one "dumb" question. Your future self will thank you for taking these first steps toward financial intelligence.


RESOURCES:

Sandy Connery
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