What’s The Story About Your Financials?
When a book is exciting, we call it a real page-turner. You simply can’t wait to find out what happens next, reading quickly to turn to the next page, and the next! Well, that’s life, too—or it could be. You could be starring in a story so exciting, you can’t wait to wake up the next day and see what happens. And, it’s all up to you—What story are you going to create??
Take Ownership Of Your Story
Every story has a setting of location and characters, and genres exist for all types of stories: horror, mystery, romance, comedy, epic, drama, etc. In life, you truly get to decide the type of story that you want to create. What types of people will you include in your life? How will you choose to react to a given situation? You are the author and lead character in the story – you get to develop the plot and decide the direction, and you get the starring role. Most importantly, you also get to make changes.
What’s Your Story?
Every story has an antagonist and protagonist – what are yours? What are the challenges and in what ways do you overcome? Is there a victim or victor in your story? Life is a series of struggles; every struggle builds us, makes our story, and sweetens our victories. It’s up to you to determine how you’ll respond to struggle. Remember, only you can change the type of novel or direction of the story by controlling your perspective, choices, and actions. The final chapter has not yet been written.
How To Control Your Story
Even though it may seem as though you are responding to events that happen to you, you are actually making choices and determining outcomes. You’re in charge.
It’s hard to recognize the power that we possess to manage our own business. Too often, we feel as though our success comes at the whim of fate or through chance. Do you feel like that last deal was lucky, or that the new client was fortuitous? To a degree, there is an element of chance, but don’t discount the work you put into it: you abided by the terms of the deal and you put yourself in the position to acquire new business.
Let me repeat: You put yourself into position; you established the narrative.
There’s More To The Story
Your narrative must include a plot, the driving force of the action. In the story of life and owning your own business, that plot comes in the form of your numbers. The bookkeeping and finances affect most decisions and outcomes. Therefore, managing these elements of your business will help you control the story.
Make Friends With The Numbers
Too often, most creatives avoid the bookkeeping and finances because they seem complicated, confusing, and scary. Most creatives find themselves in business because of their passion for their work, not for their love of accounting theory. Still, those numbers matter to your business and they drive your story.
Your finances determine the state of your business; understanding this part of your business gives you a complete picture. These numbers—the accounting, finances, bookkeeping, etc.— tell you where you’ve been, how you’re doing now, what to predict for the future, and more.
Build A Better Narrative
So if the numbers drive your story, and if you control the narrative, then you can decide on which type of story you want to create: a tragedy, or a drama. Start by outlining your plot, i.e. looking at your numbers. Find the right tools to help you get started and feel less confused and scared.
Ready to write your story? Download your Financial Plan to get started.