Motivation vs Discipline

My name is Jenn Shaw and I am the founder of All Accounting and we really specialize in small and medium-sized businesses to help catapult their business to where they want to grow. A lot of times people are stuck within their processes and their procedures, not understanding what's going on. And we really like to form a good solid relationship with our business owners that we help and give them power into what they have going on because when you know your numbers, you can really own your future and we want to help you succeed.

That is a great segue into what we are talking about today. motivation versus discipline. And it's very surprising sometimes that you would think, okay, well, ultimately, how does this have to do with numbers? How does this have to do with my business? But really, it is showing up consistently and with a goal in mind for your business to help you through. Because motivation is just based off of emotion. it. You have great intentions. It's the start of something. You're ready to go. But what creates that long-term goal to stay there because you may have a bad day here or there and your motivation is lost. But that is where discipline comes in and your consistency. So, let's dive in.

You don't really most business owners don't have a numbers problem. They just have a habit problem in looking at their numbers. Most business owners are checking their bank account and they don't really look at what their financials are telling them on a regular basis. What they're really doing is mostly just reacting to what may feel off or on. And although as business owners we do get a very good sense of where our business is heading, a lot of the time as you are in that $500,000 to $8 million in revenue, what happens is you're just too large to pivot quickly like you did when you were smaller. So when you have these gut feelings of like, "Oh my gosh, the bus is crashing." It's too late. But when you look at your numbers, you can really understand that on a regular basis and not your bank account numbers, but your financials. You don't want to continue running your business off of emotion.

Like I mentioned, the motivation versus discipline. This is really where discipline comes into play with your business. Your business moves not from one big financial decision that you make, but with these small consistent ones over time and the monitoring that happens throughout every week, every day, whatever that looks like. It's those small habits that really stack up to get the direction of where you want to go. When you focus on something, there is intention for how you want to move your business. And even if you don't decide to have any intention and you're just reviewing things and reacting to things, that in itself is its own sort of discipline that you have. So taking those and creating the discipline that you really need within your business.

What does this actually look like for you though? How can you implement something that you haven't implemented before? This is going to look like setting a month uh weekly. We if you want to start small, you can do monthly, but we really encourage you to do a weekly conversation with yourself, 20 to 30 minutes, and it doesn't necessarily maybe it's with your team, but key people to talk about numbers. This is not a diving into every single detail of where things are at, but just overviewing and getting familiar with things and showing up for yourself, showing up for your employees, and where you want to drive your business. And just look at what happened with your cash this week, what money came in, what money left, what is due in next week, has things changed, is there a client crisis, are there client wins? like what happened in the week of your business. Sometimes we get so caught up in the day-to-day tasks that we we forget to slow down, reflect, and really lead with intention of all right, I see this happened last week. What can we do to move forward? Which leads us to our next thing. Tracking one to two numbers. Although watching many KPIs can be beneficial and it is important on a higher level when you have someone like myself, a CFO that can help you track those things. What's really more important is focusing on one key thing at a time. This could be your profit margin. This could be your cash, your cash run. This could be your revenue per client. It doesn't matter what it is, but staying consistent with looking at this one number that you decide on can help you stay focused and direct the number wherever you want it to go. Again, when you are focused on and lead with intention, you can drive that force to who knows where.

And then we're going to begin making decisions from data and not that gut feeling. So what does that look like? All right, so cash is tight. This means a decision would be stop spending as much. Are there things that we can slow down? Can we cut costs here? Or perhaps this looks like um your profit margin is going down. Okay, maybe it's time to raise prices. What is the number telling you? and then what is the action that can be completed to help drive that number to where it needs to go. Clarity comes from consistency, not complexity.

When you aren't doing these things and showing up for yourself, you really are just going off your business through emotion. You think you're doing fine until it's too late. problems show up and growth feels really unpredictable, but disciplined owners really know where to go and grow. So, it's just focusing on focusing on yourself, reflecting back how your business is doing, and just showing up as business owners for yourself and for your for your employees. All right, guys. I hope that you will take some of this and noodle what are things that you are currently doing within your weekly money talks to yourself. What can you potentially change this next week? And know that we are always here for a reach out to help you understand what's going on. If you need an accountability buddy, that is what accounting professionals are all about. It's really about ensuring that you're showing up for your numbers, that you understand them, and you can lead the business to amazing things. I hope you have a wonderful weekend. It will in Washington state it's going to be very sunny and lovely and we will see you next week for another one of our webinars. Bye.