Know Your Numbers: Making Business Finance Actually Make Sense

Let me share something I see all the time in my coaching practice: brilliant business owners who freeze up when we start talking numbers.

Just last week, I was working with a client in Surrey who’s built an impressive business from scratch, but when we opened their financial statements… complete deer-in-headlights moment. Sound familiar?

The Numbers Phobia is Real

Here’s a scene that plays out regularly in my coaching sessions: A successful business owner, passionate about their product or service, innovative in their approach, but mention management accounts and their eyes glaze over faster than a winter windscreen.

“I hate numbers – they don’t make any sense to me,” they’ll say.

And I get it.

We’re entrepreneurs, creatives, visionaries.

We’d rather focus on the exciting stuff – building products, serving customers, growing our teams.

But here’s the truth: understanding your numbers isn’t optional if you want real business success.

Why Most Business Owners Struggle

The problem isn’t usually about intelligence or capability. I’ve worked with doctors, engineers, and tech founders who all struggled with business finances.

The real issues are:

• Accounting jargon that seems designed to confuse
• Traditional financial statements that don’t tell a clear story
• A fear of making financial mistakes
• The belief that you need to be “good at maths”
• Overwhelm from too much data

Breaking Down the Barrier

Through the Masterplan Programme, I’ve learned that the problem isn’t the numbers – it’s how they’re presented. Let me translate some financial statements into language that actually makes sense:

Instead of dry profit and loss statements, imagine this:

• “If you find 100 leads monthly and convert 10 at £500 each, you can fund your dream holiday by Christmas”
• “Two more salespeople plus a 20% price increase means you get your weekends back”
• “£5,000 in targeted marketing equals two new £30,000 projects monthly”

Suddenly those numbers start making sense, right? That’s because we’re connecting them to real outcomes that matter to you.

Numbers Tell Stories

Here’s what I tell my coaching clients: Numbers are just the language of business. Yes, there’s the accountant’s view (tracking, compliance, tax), but then there’s the business owner’s view – using numbers to make smart decisions and achieve your goals.

Think of your business numbers like a GPS system. They tell you:

• Where you are now
• If you’re heading in the right direction
• How fast you’re moving
• When you need to change course
• If you have enough fuel to reach your destination

Making Numbers Your Friend

In Step Two of the Masterplan Programme, we focus on making numbers work for you. We look at:

The Seven Key Numbers

These are the vital signs of your business – the numbers that actually matter day-to-day. Not every number deserves your attention, but these seven are critical.

Your True Break-Even

This isn’t just about covering costs – it’s about knowing what you need to earn to pay yourself properly and build a sustainable business.

The Weekly Scorecard

A simple system showing if you’re winning or losing each week, without drowning in spreadsheets.

Money Now vs Money Future

Clear targets that connect today’s actions with tomorrow’s goals. This helps you make better decisions about investing in growth.

Practical Financial Management

How to work effectively with bookkeepers and accountants, understanding cash flow, and managing profitability.

Real Business Impact

When you truly understand your numbers, everything changes. My clients report:

• Making confident marketing decisions based on real data
• Knowing exactly when to hire (and being sure they can afford it)
• Seeing problems before they become crises
• Sleeping better at night
• Building real business value
• Having clarity about their business’s future

Common Myths Debunked

Let me clear up some common misconceptions:

1. You don’t need to be “good at maths” to understand business numbers
2. Financial understanding isn’t about memorizing accounting terms
3. You can make good financial decisions without becoming an accountant
4. Understanding numbers doesn’t mean losing your creative edge
5. It’s never too late to get comfortable with finances

Taking Action

Here’s how to start getting comfortable with your numbers:

1. Identify the key metrics that matter for your specific business
2. Create a simple tracking system that works for you
3. Connect your numbers to real business outcomes
4. Review regularly but not obsessively
5. Get help interpreting what the numbers mean for your decisions

Ready to Master Your Numbers?

If you’re tired of feeling uncertain about your business finances, let’s talk.

As your business coach, I can help translate those mysterious numbers into clear action steps for growth.

In my experience, every business owner can understand their numbers when they’re presented the right way.

It’s not about becoming a financial expert – it’s about having the information you need to make better business decisions.

Through the Masterplan Programme, we’ll work together to:

• Demystify your financial statements
• Create clear connections between numbers and outcomes
• Build confidence in your financial decision-making
• Develop simple systems for tracking what matters
• Turn financial data into practical business actions

Ready to make friends with your numbers? Let’s have a virtual coffee and discuss how to make your business finances work for you, not against you.

Best wishes,
Jamie

P.S. Remember, you don’t need to become an accountant – you just need to understand what your numbers mean for your business decisions. The right support makes all the difference.