Saturday, February 06, 2010


I work out twice a week. I know, it really should be three times a week, but to be honest, and excuse the pun, it is a bit of stretch for me as it is. You see while I know all the benefits and love how I feel afterwards, to me exercising is a bit of a necessary evil.

It’s a bit like doing your financials. You avoid sitting down and pulling all the numbers together, yet you know that in order to get a handle on how your business is doing, it has to be done, and done regularly.

Research has shown that those of our gender tend to avoid the number-crunching and that our lack of financial literacy can hold us back. When you haven’t got an accurate picture of where you are at financially, it is hard to make sound business decisions.

When I started my business I did a budget, which as someone who has run several charities, was well within my comfort zone. What I didn’t realize then was that I really needed to develop a cash flow statement, so I could track and predict when money was coming in, and just as important, going out.

We have just started our Me Inc program for would-be entrepreneurs and one of the topics we will be covering is cash flow. So often when we start up we overestimate how much money will come in and when (it always takes longer than we think) and underestimate how much our expenses will be. All of which leads to serious cash flow issues, a constant source of concern for the business owner.

So yes, both are necessary evils, but we need to do both in order to survive – physically and professionally.

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