Knowing Your Numbers: The Key to Confident Business Decisions

Why Knowing Your Numbers Matters in Business

Knowing your numbers gives you a complete picture of your business health beyond the bank balance. It allows you to:

• Price your services profitably
• Track your income and outgoings with purpose
• Forecast growth and prepare for dips
• Make data-led decisions instead of guessing

When you know your numbers, you act strategically—not reactively.

Common Mistakes Business Owners Make

Even experienced entrepreneurs can fall into traps:

• Ignoring profit margins in pricing
• Confusing revenue with profit
• Outsourcing bookkeeping without understanding what the numbers mean
• Not knowing their break-even point
• Making investments without forecasting ROI

These mistakes don’t stem from laziness, they’re usually from overwhelm or lack of clarity.

What Does a Knowing Your Numbers Mentor Do?

A numbers mentor helps translate your financial data into meaningful business insight. Here’s how:

• Breaks down key business metrics: revenue, profit, margin, cost of goods sold, and more
• Helps calculate break-even points and profit thresholds
• Reviews pricing structures based on true costs and value
• Offers tools and templates for better tracking and reporting
• Builds your confidence around financial decisions

It’s not about becoming an accountant, it’s about thinking like a CEO.

Simple Tools and Techniques to Track Your Numbers

1. Cash Flow Tracker - Monitor money in and out monthly
2. Profit Margin Calculator - Understand your most profitable offers
3. Break-even Analysis - Know how many sales it takes to cover your costs
4. 12-Month Forecast Template - Predict income and expenses over time
5. Dashboard Review - Use visuals to track KPIs at a glance

These tools make it easier to stay informed without drowning in spreadsheets.

FAQs About Knowing Your Numbers

What numbers should every business owner know?

Revenue, profit, gross and net margin, cost of goods/services, break-even point, average customer value, and cash flow.

Do I need to be good at maths?

Not at all. With the right guidance and tools, any business owner can understand the numbers that matter.

How often should I review my numbers?

Weekly check-ins for cash flow and monthly deep dives are ideal. Quarterly reviews help with strategy.

Can a numbers mentor work alongside my bookkeeper?

Absolutely. A mentor helps interpret the data, not replace your finance team.

Real-World Results from Knowing Your Numbers

"There are two people who have had the most impact on my business, and one of those people is Robin. I was particularly attracted by the potential of doubling my revenue. It doesn't hurt to go back to the basics! And love the goal setting approach." - Paul, Diary Detox

Why Work with Robin Waite on Knowing Your Numbers?

Robin Waite makes numbers make sense. His mentoring strips away financial jargon and replaces it with clarity, confidence, and strategy. With decades of experience working with entrepreneurs, he helps business owners understand the story their numbers tell.

You don’t need an MBA - you just need to understand your own data.

Apply for a FREE Coaching Session with Robin and start using your numbers to drive real growth.