Money & Metrics – EP 004 | The Common Cents

The 2 Cents Business Podcast

The 2 Cents Business Podcast with Joyce M. Washington, CPA:

Money isn’t the easiest topic to talk about, especially when there’s misinformation and a bunch of jargon to contend with.

That’s why I created the 2 Cents Business Podcast to bust money myths and cover business money topics like budgeting, business planning, business growth, cloud bookkeeping, team building and profitability without all of the bookkeeping and accounting jargon.

Join me every Monday to dive into the money & metrics matters for business owners & entrepreneurs.

Every Monday is affectionately referred to as Money & Metrics Monday here with Team Common Cents. It’s when we stop and take stock of our progress and make plans for the coming week. It’s also what we do for our clients on Client Time Tuesdays.

Mentioned in this episode:

The money numbers we check…and it’s more than just keeping an eye on revenue
The money metrics that we check (and what makes them different than money numbers)
The 3 things I want you to do

Highlights of this episode:

00:41 What do we actually check? RE: money numbers
01:13 Why do we check money numbers? Like cash flow, net profit, revenue, and budget versus actual reports
03:01 Why you should review unpaid invoices and unpaid bills
05:06 What to look at in terms of positive or negative cash flow
05:43 What indicators of business health should we all be looking at
06:50 What do we actually check? RE: money metrics
07:55 Why do we check money metrics? Like pending service agreements, consultations scheduled, conversion rate, website traffic and email signups
09:30 How to use your sales conversion rate to set your sales goals & benchmarks
11:06 Your Homework: Three Things
11:39 First thing – What numbers are the real indicators that show you if you’re getting closer to or further away from your money goals?
11:55 Second thing – set an unbreakable appointment with yourself. Treating your business like you would treat a client – set aside some time to work ON your business.
13:25 Third thing – Using your numbers and the time you set aside for your business, what actions can you take?

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RESOURCES

Kill The Vanity Metrics Challenge

Money Matters Checklist

Resources List

WORK WITH COMMON CENTS

Virtual Accounting, Bookkeeping & CFO Services

Courses & Programs

Templates

Planners & Printables

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Thanks for stopping by and listening.

Want to make sure you don’t miss an episode? Don’t forget to subscribe and listen on: Anchor, iTunes, Spotify, Stitcher

Want to chat and hangout with me, Joyce? You can find me onFacebook,Instagram orTwitter…as @thecommoncents.

You can find the show notes at: thecommoncents.com/podcast

What we’re chatting about in this episode:

The money numbers we check…and it’s more than just keeping an eye on revenue
The money metrics that we check (and what makes them different than money numbers)
The 3 things I want you to do

Money & Metrics – EP 004

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