Know Your Numbers

The outline was to go through examining your purpose, identifying your vision, destroying the B.S. (Bogus Story…not what you were thinking), find your passion, and to plan in a way to align all of this with your strategy for success.

The last part of the workshop was the most interesting for me. Not so much because it was new to me but because how many of the people were surprised by this part of the workshop. The idea of this was to know your numbers and then identify what you need to do to get to them. As a person growing my business I’m very aware of the numbers it will take to replace my “day job” with my current “side hustle.” My wife and I have had a budget for years and we know what the least amount of money we need each month to just run our household. As well, we know how much we invest, how much discretionary money we have, and we know where in our current budget we would cut if we ever had an emergency that required it.

What was surprising was the number of people that seemed to have no clue what a budget even was. Even more they didn’t know what their monthly need was to just run their household. Even more surprising they hadn’t thought about what their ideal number would be that would let them relax in terms of an emergency fund or “safety number.” Since this workshop audience was all entrepreneurs we went on to talk about streams of income that would come from different revenue centers and brainstorm some of those possibilities, but even non-entrepreneurs should know their numbers.