Guys. I bought a cactus.
Home Depot has these adorable little cacti on display as you exit, and after walking past them several times (we’re painting our house, so we’ve been frequent customers lately) I finally decided to get one.
My husband, aware of my ridiculous impulse buys, headed out to the car while I stopped to pick one out. I decided on this cute little one with a bright pink flower on top. I made my purchase and headed out to the car to show it off.
Not known for a green thumb I started to read the instructions on how to keep this thing alive (my husband gives it 2 months). I noticed that it referred to a yellow flower, which seemed a bit weird since I picked this one specifically for the bright pink flower.
So i take a closer look at the flower and I can’t quite tell where it’s growing out of the cactus….
...and that’s when I saw the glue.
I kid you not, my pretty little flower was made of tissue and glued on.
Clearly I should have put a bit more thought and attention into my purchase.
This isn’t the first time I’ve done something without paying enough attention and I bet it won’t be the last.
Have you been there?
Are there things in your business that you haven’t been paying enough attention?
When it comes finances, here are 3 things to pay more attention to in your business.
1. Your Expenses
Software, advertising, services, all the little things needed to run your business can add up. Sure it feels small and manageable, $5 a month here, $10 there, $30 over here, but add it all up and you could be spending way more than you realize.
Get a handle on this by reviewing your expenses every month, take inventory of all the things you’re paying for and figure out if you’re really using them or if you even need them at all. Pay attention to your expenses and keep more of your profit in your pocket.
2. Your Cash
Cash is the lifeline of every business, it keeps the doors opens. Not being able to pay bills is the number one reason most small businesses fail.
Don’t let that be you, pay attention to your cash. You need to know how much is coming in and how much is going out every day.
3. Your Accounts Receivable
You work hard, you provide valuable services for your clients and you deserve to be paid. Make sure you’re tracking and following up on your outstanding accounts every week. Don’t be your client’s line of credit!
Don’t treat your business finances like a poorly researched cactus purchase, pay attention to the things that matter.
Need a better way to track these numbers but you’re not sure where to start?
How do you pick an accounting software and get it set up? Let me help you. Reach out here.
