"Growing Your People Monthly" Newsletter

January 2010

Welcome to 2010 and a new year to further grow your business and grow your people! For many, this is a time for reviewing numbers and measurements - income statements, balance sheets, tax preparation, and performance reviews. My consulting philosophy is based on putting awareness and accountability into action, and numbers are all about awareness and accountability. Read on!

Be well,

Yvonne Kinney-Hockert
National Speaker, Business Consultant & Coach
Consulting Solutions, LLC.

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What Numbers Matter to You?

"A good decision is based on knowledge and not on numbers." - Plato

Numbers - we are surrounded by them, and whether you are at the top of the leadership chain, a middle manager, or on the front lines, it's important to understand what the numbers mean and how you can use them to improve the bottom line and enhance the success of your organization.

In the Data Component section of Traction: Get a Grip on your Business, Wickman reminds us that "Only factual information can provide the basis for productive discussion and decision-making." No matter what level of responsibility you have, you are monitoring or measuring something (or should be!) that impacts the business. What numbers matter to you?

Financials are the first "numbers" people often think of, and rightly so, but many people think these numbers only really matter to the finance and accounting departments. In Financial Intelligence: A Manager's Guide to Knowing What the Numbers Really Mean, Berman and Knight stress the benefits of financial literacy for leaders, managers, and employees, and how all of these people can use financial information to work and manage more effectively.

At Consulting Solutions, the numbers tell a story. We work with our clients to not only create a plan to sustain and possibly grow their business but to have a better handle on what story their financials are telling. We help you identify and utilize systematic information that can help you understand the story your numbers are telling as well as help you focus the actions you are taking to achieve your results. You don't have to be an expert on financial statements but you do need some knowledge. Being profitable is one thing, but what we want to help you do is understand the larger numbers story so you can maximize your profitability and how well your cash works for you.

Finally, the benefits of understanding numbers go beyond just the individual. Leaders and managers that share financial education with direct reports and coworkers and then link that learning to broader organizational goals will create an energized environment of teamwork. Financial intelligence is all about transparency, getting people involved, on the same page, and moving towards the same goals. As Berman and Knight remind us, "When people understand a company's objectives and work to attain them, it's easier to create an organization built on a sense of trust and a feeling of community. In the long run, that kind of organization will always be more successful than its less open counterparts." Numbers are all about knowing what matters and then developing measures of accountability and results towards the ultimate goal of success. What numbers matter to you?

Your Call To Action. . .