I’ve had a pretty hectic week this week. On Wednesday I was in London working with the restaurant group that owns The Ivy and Annabel’s among many other of the coolest (and most expensive) restaurants in London.
And on Thursday I was speaking at the D2N2 / British Business Bank event in Nottingham.
In London I was faced with 12 people who knew they needed to learn more about finance, but they really didn’t want to be there and were daunted by the idea of finance. But they were delighted by the end of the day with how much they now understood and how much influence they could see they could have in their restaurants.
I’m reminded of time and time again when I train or speak at events is that most people find finance quite scary and they think it’s a difficult area for them to get involved in.
What I know for certain after 18 years working with hundreds of small businesses is that if you don’t control your finances, then you don’t have control of your future.
It’s as simple as that.
In fact I’ve yet to find a business that’s performing well financially where the owner isn’t all over the numbers and understands what’s going on. There is for sure a direct correlation between finance skills and financial performance. But in most cases there was a turning point where they realised they had to learn about this stuff if they were going to get the life they wanted. It’s not something that comes naturally to most people.
Then I was going to tell you the best ways to go about learning enough to take control, and to be honest, I struggled to finish this blog, because actually finance isn’t made that easy for non-accountants to understand. And there aren’t any particularly easy ways for business owners to take their financial reins if, like most people, they don’t understand it well enough.
Which kind of took me full circle back to realising this is why we’re building the F Word Online Finance Academy. (And I promise I didn’t just write this to plug The Academy! It was a real dawning of realisation)
But what I would say is that when you’re ready to want to learn, and can see the kind of financial future you could create, a little basic knowledge goes a long way and can give you a lot of confidence. And by keeping the complicated jargon and accountant-speak at bay you’ll be surprised just how quickly you’ll pick it up.
If you’d like to start that education now, then I’m running a series of free workshops in November designed specifically to teach business owners exactly how to take control of their finances. Maybe I’ll see you at one of them?