In a recent meeting with Jo Burston, CEO of Inspiring Rare Birds, a very successful entrepreneur, I noticed that she rattled off statistics of her business really quickly and easily.
I couldn’t help but wonder do successful business leaders walk around with a few key statistics in their head? Why do so many of us women shy away from numbers ?
Financial literacy is something we aren’t born with, it’s learned and yet it seems when we were younger we were either exposed to it from our families in business or if we weren’t, we had to make a conscious effort at school or uni to study accounting. As adults we often say, I’m not good at Maths or I don’t really understand the numbers in my business, that’s my accountants role!
In a recent education session with Jo Burston, CEO, Inspiring Rare Birds, we discussed the importance of knowing Revenue, Gross Profit (GP) / Operating Expenditure (OPEX) and Net Profit after Tax (NPAT) in your business and comparing these year on year.
When dealing with business facts, Jo says “choose 2- 3 key facts and write down the stats on a post it note on your desk and then when you need them they are there.”
Another thing many of us women were never taught is how to evaluate a business or how to get involved in investment of other companies. I love companies like SHEEO who make it easy to invest $1000 in a growing female led business, it makes it easy to put some skin in the game. You can find out more here https://sheeo.world/activators/
In a world where we need to learn so much to stay ahead in business, I realise that to be an effective leader we can’t shy away from the numbers, we must take time to travel the financial literacy journey and remember to walk around with a few key stats in your head, be ready to sprout them as loudly and as often as possible!