Fake News in Your Numbers

Whether you are tired of hearing that statement or not, no one wants to believe they are contributing to fake news, believing fake news or anything to do with false details. Society is requiring and holding us all accountable. Presenting information without having true facts to back it up, may be a thing of the past.

So how does living the real life come into play when you are working with your company bookkeeping and your budget? Are you being real about that also? Or are you just going month to month without much attention to the details of your company finances? After all, if there is money in the checkbook, or credit available on your card, then you must be making money, right. That could be viewed simply as cash flow, not profit. Fake numbers come into play when your desire to believe that you know the real numbers but don’t have the financials to back it up.

Engaging with real financials vs fake, is vital for growth and success. Maintaining your Company’s bookkeeping (and this goes for home life also-your family is your ‘company’) and financials in the entirety, accurate and timely, is significant. The longer you keep faking reality, the harder it will be to recover to even a good starting point. Think back to my last blog where I talked about the compound effect. If you aren’t careful, it will be a negative impact that may be very hard to correct. Think of a merry-go-round and the effort it takes to get the momentum going. A lot, especially if the load is heavy. But once it is turning, and swirling freely with little resistance, it only takes just a couple of extra pushes to keep that momentum. Even when additional weight is added, it continues circling. But when it slows down too much, your initial efforts are lost, and you are back to ground zero. Think of your ‘efforts’ as your earnings. How much of your efforts are you willing to lose when you don’t keep momentum on managing your financial details? Not keeping the momentum going on managing your financial details results in losing momentum on all your efforts to grow. You are making financial decision with fake numbers.

 3 Ways to Fact Check your numbers

  • Hire skilled, experienced companies to manage your bookkeeping and financials.
  • Engage with your financial team. Don’t allow yourself to fall back into believing fake numbers, anywhere in your financial picture.
  • Keep the momentum going by creating habits that require timely financials and review. Don’t allow your efforts to be lost.

Take your company financials from fake news to real numbers, keeping your momentum going strong. If you need assistance with your company financials, contact us. We can help.