Many of us set intentions at the start of the year. Lofty ideals around work-life balance, a specialized course or some update to your studio. Mine run the gamut. I’m always looking toward refinement. Making it easier, steadier; investing more in my team, digging deeper into my own studies. All to keep the inspiration alive for our clients.
I also look at my numbers.
Never in a trillion years did I see myself as a spreadsheet person. Putting numbers in, googling formulas and making calculations happen. Then to be able to read it, understand it and make decisions from it!
All that from someone who arrived college with a Smith-Corona typewriter.
My grade school years were filled with dance training and competitive tennis, both of which I liked but didn't love. I was an average student, but I absolutely stunk at math.
I always loved writing and literature. A reluctant introvert, I knew a career in Journalism was for me. I then spent nearly 15 years as a professional writer, moonlighting as a Yoga and Pilates teacher to stave off the sedentary nature of my work. Which meant I arrived at studio ownership knowing how to do exactly three things: write, move and teach.
Numbers were not on my radar at all.
I mention all of this because it proves that you don’t have to be innately skilled at math to make it work for you. All you need is to make a bunch of financial mistakes with a young business that you have to climb out of. That’s how I learned.
Everything was very basic for me in the beginning. I modified an Excel template for budgeting. It had three columns: expected income, bills that were due and what was left over. I did this weekly to keep my anxiety at bay.
Today, my spreadsheets are very different. Out of sheer necessity, I have become quite proficient. Nerdy even. I simply love data because it’s not emotional. It doesn’t lie to me. I can wordsmith my way around just about anything. But math? Nope.
Which brings me to September, my favorite month of the year as a business owner. It's when I take what Q1 and Q2 told me and put it to work. With four months remaining in the year, it’s usually enough time to make adjustments.
All to say, I know how easy it is to get lost in the shuffle of a business year and forget to measure against the thing you set out to accomplish. So whether you have a goal that’s drifted or never set one at all, September is the perfect moment to reset for a strong finish.
In the next issue, I’ll take you through how to build a second-half target from scratch, and how to course-correct if what you find is not what you were hoping for.
-Amanda