Why crunching your numbers matters, no matter who does the crunching
There’s no escaping numbers, whether you like playing the numbers game or not, so it’s best to either embrace them, or find someone who can crunch the numbers for you.
We’re all surrounded by numbers
Now I may sound like a boring old school accountant when I ask “Have you ever really challenged yourself and pondered the value of ‘numbers’? I was recently challenged in this way by my 12-year old daughter when, for her first High School Mathematics assignment, she interviewed me about how numbers are used in my work and around the home.
Fortunately, my daughter enjoys working with numbers herself, so we could talk at length about how we use numbers each day – all of us – in many ways. From her 5-year old brother, to her 10-year old sister, and even to her 40-something parents – our talk made it clear to her that numbers affect us all.
In fact, what we found was that there is very little we do that doesn’t involve numbers.
While she is only at the start of her experience in managing a newly cashed-up canteen account, scanning card, and Opal pass for her high school journey, the assignment was still valuable. She now understands that there is no escaping numbers, because in some way, shape or form, numbers affect us all, every day of our lives.
The business of numbers
Once we realised how vitally important numbers are, we also ventured into business concepts such as budgeting, cash flow, profits and wealth. As a family we often play number games like Perudo and Sixes, and playfully fight over measuring spoons and cups tipping the kitchen scales to overflowing. However, numbers go well beyond the household, and when discussion came around to my role as a business advisor, her eyes were opened about how important numbers are to me and to the whole family.
She could also start to see how important they will be to her in the future.
Why do many people avoid—or even fear—numbers?
For me, the discussion with my daughter raised the important question as to why many business owners (and I would even say clients who I regularly deal with) try to ignore or escape the numbers vital to their success?
Do they fear numbers and what those numbers may be telling them? Like a debt may be coming due, or that as business owners, they have been pricing themselves out of the market. Or do they truly misunderstand the power of numbers, and how significantly numbers can impact their lives? Do they not see that numbers—whether in playing a game, running a business, or planning long term wealth strategy—simply cannot be ignored?
You simply have to crunch your numbers
You cannot just hide them in a shoebox, and hope they will vanish under the bed among old shoes purchased at a 2-for-1 sale. Nor can you expect that the superannuation your employer must set aside for you, will sustain you in retirement.
You need to crunch your numbers and analyse them with a strategy in mind.
And if you don’t care much for numbers (or the point I’m trying to make about the inescapability of numbers) then you, more than most, need to find someone to crunch your numbers for you.
You may have missed the lesson at high school, but my daughter’s assignment highlights preliminary lessons in numbers that cannot be ignored.
How empowering would it be if you, whether in business or in managing your personal finances, were able to:
- look at accurate numbers on a timely basis,
- interpret these numbers,
- weigh up opportunities,
- set valuable future goals, and
- be confident that they can be achieved?
Most empowering, one would think.
So who will crunch your numbers?
Where do you find people who love numbers, and who are happy to embrace yours?
Are they among the ‘old school’ historic number crunchers? Or are they among the more dynamic business advisors who challenge themselves to work with you using your real-time data to help you achieve the rewards for yourself and your business? These are advisors who help you across all the areas that are impacted by the significant numbers in your life.
I challenge you to seek out those in the latter category, especially if you’re someone who just doesn’t like playing the numbers game!
You know our number
For more information on how to better crunch your numbers—and to escape having to do the number crunching yourself—get in touch with us to discuss practical strategies for improving your numbers.