102: Establishing Financial Scorecards to Build & Grow Your Financial Confidence

Maybe you're wondering what data you should be paying attention to, and what KPIs or metrics should you be doing. There are numbers that give you safety and those are the numbers you’re drawn towards. Then there’s also data that can be challenging and frustrating. And so, you just don’t like dealing with those kinds of numbers.

There are so many pieces to financials and financial numbers, and the things that impact those numbers. We do understand that it can be very daunting and overwhelming. But you also have to understand that you have to know your numbers. You've got to fall in love with data without judging yourself in the process of it. 

Today, we talk about numbers. Learn how to establish your financial scorecards to build and grow your financial confidence. If you find yourself in a season of not feeling stable or you can't see around blind corners, if you're worried about debt and you're concerned about your tax bill, then that's what your financial scorecards are supposed to start helping give you confidence in. The more confidence you have about what's happening, the more you can start to predict.

At the end of the day, growth is the goal. And not having a three-dimensional perspective of profit, tax, and cash flow can hurt you when it comes to your finances.

In this episode, you will hear:

• The importance of having a financial scorecard
• Having a season of observation
• Weekly numbers you need to look at
• The importance of cash flow balance
• Cash metrics to look at on a monthly basis
• Data as your tool, not a weapon

Supporting Resources:

• Entrepreneurial Operating System
• Episode 101: Back to The Basics Checklist to Achieve Breakthrough When You Are Stuck

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Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.

Keep more of your money & learn our Top 50 Tax Deductions and the details to legally create potential income tax savings right now.