Understanding the numbers in your business is critical. Financial literacy is a must-have skill.
Numbers Not Your Thing? But they should be your thing?
Does this sound like someone you know?
Promoted to a managerial and leadership role because you are so good at the technical stuff, and magically you are suddenly expected to know how to manage people, deal with HR stuff be responsible for the budget and understand those finance reports that appear every month. Aagh!!
Or; it’s your own Business
But you’ve been with the Organisation for a while, hold a relatively senior role, and everyone expects you are all over this stuff.
Or you might be new to the Organisation, an emerging leader, and don’t like to admit you don’t know. Or the environment isn’t very conducive to asking for help.
Whatever the scenario, it takes a courageous Manager to admit they don’t understand numbers and ask for help.
Let me share a secret with you. You’re not the only one.
Understanding the numbers in your business is critical. Financial literacy is a must-have skill. It’s not something that can simply be delegated to the accountant.
- How do you know if the numbers make sense?
- Would you know if they were completely wrong?
- Do you know what questions you should be asking?
- Do you know what the important numbers are?
It’s also a pre-requisite around the Board table. I have sat on several Boards (as the Treasurer) where other Board members assume Debbie has got it covered and they don’t need to pay attention to the numbers. That is so not the case.
If you are feeling vulnerable everytime you see a set of Accounts, can I recommend that you do yourself a favour and make now the time to address that. Financial literacy skills are a must have in all leadership roles in all business.
Download this Free Financial Healthcheck and if you need a hand please reach out.