For a business owner, mastering Business Algebra™ is important because what you measure, you can manage. It’s part of the roadmap of where you want to go with your business.
For many people, when they think of “business” and “numbers”, their thoughts go to ‘financial statements’. While finances are an important part of Business Algebra™ they are not the totality.
“Key Performance Indicators” (KPIs) are also a significant part of Business Algebra™, and while financial indicators often make up part of a business’ KPIs, again, they are not the totality.
Business Algebra™ has both a forward-looking – forecasting – component and a backward-looking – understanding – component.
BUSINESS ALGEBRA™ 101 Workshop
This $2,345 one-on-one Workshop takes you through the following steps:
- Understand how you are measuring your business today and what tools you are using to track and report on those measurements and manage different outcomes.
- Define the scope of your Workshop outputs:
- Major business goal(s) in that Timeframe
- Define the major deliverables and milestones for all of the activities defined in (2) and capture them as your Task Plan in a task management tool.
- Define the resource requirements (i.e., time, people, tools, money, etc.) to complete the deliverables and milestones defined in (3).
- Create your Financial Projection (for your defined Workshop Timeframe) that incorporates all the resource requirements of the Task Plan and captures them in a financial management tool.
- Define the “key performance indicators” (KPIs) which you will monitor to track your business’ ongoing performance.
The Workshop is set up as 3 two-hour guided sessions, and comes with a supporting Quick Reference and templates.