Entrepreneurs often feel uncomfortable when taking their businesses to the next level. The fear of the unknown and the anxiety surrounding whether we are making the right choices can be paralyzing. We see this every day in our work.
If we want to propel our businesses forward, we must balance the demands and needs of our rational and emotional sides. No matter how much we want to see our companies grow and evolve, decision-making is a complex process. It involves reconciling our feelings, emotions, and egos with practical considerations such as spreadsheets, models, and forecasts.
Unfortunately, many emerging companies struggle with basic bookkeeping, let alone their projections and forecasts, which is a real problem when these companies try to assess their options. It's much harder to take the next step if you don’t have a clear understanding of the financial implications. And living through the transition gets even more difficult without a real understanding of how the changes might affect the numbers.
Learn more in my 21 Hats article today.
Comments